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Luxurious safes and tourbillon watches from BUBEN&ZORWEG have been at the centre of attention in Jūrmala since July 2014. The Cote d’Azur of the Baltic Sea is the largest coastal town of the Baltic states, lies around 25 km from the Latvian capital of Riga and attracts discerning guests from around the world with its 32 kilometres of white sandy beaches.
DAVI LUXURY BRAND GROUP INC. (“Company”) MDAV, +0.00% announced today that its board of directors has determined that voluntarily deregistering the Company’s common stock from the reporting requirements of the Securities Exchange Act of 1934, as amended (“Exchange Act”), are in the best interests of the Company. The Company is eligible to deregister its stock because it has fewer than 300 stockholders of record.
The world’s 75 largest luxury goods companies generated luxury goods sales of $171.8 billion through the end of last fiscal year (fiscal years ended through June 2013) despite a slowdown in the global economy. The average size of the Top 75 companies was $2.3 billion in luxury goods sales. This is according to the inaugural Global Powers of Luxury Goods report issued by Deloitte Touche Tohmatsu Limited (Deloitte Global).
Slower, but steady: that is the ‘new normal’ for the global luxury market in 2014 – and potentially beyond, which is acclimating to lower, but more sustainable long-term growth.