This week, Bentley Motors announced its intent to create an SUV, which experts say will put it up against new competitors such as Range Rover, BMW, Mercedes and Lexus. The brand will invest more than $1 billion for this new development, the fourth Bentley model available for purchase in addition to the Mulsanne, Flying Spur and Continental GT.
Meanwhile, Ralph Lauren is creating a buzz in Paris with the restoration of the fine arts school École Nationale Supérieure des Beaux-Arts. Ralph Lauren is kicking off the two-year commitment with a fashion show after Paris Fashion Week in October, where it will show the Fall 2013 women’s collection and host a small gala dinner. The restorations will affect the lecture theater, mural by Paul Delaroche and amphitheater.
Also, the bid for Saks Inc. is heating up as Starwood Capital Group made an offer this week. Reports claim that the department store’s stock jumped on Friday after news surfaced that Starwood Capital made an offer after an earlier bid from Hudson’s Bay Co. This certainly heats up the battle, since smaller firms such as Qatar, Thomas Lee, KKR & Co. and Leonard Green & Partners are also in the running.
Finally – and, depending on who you ask, most importantly – The Duke and Duchess of Cambridge welcomed their first child, HRH George Alexander Louis early this week. Luxury brands have already expressed congratulations from all corners of the globe: designer Christian Lacroix created royal baby pram, French fashion house Dior released sketches of baby clothes and navigational shopping site ShopTrotter created a map and directions to must-have baby apparel and accessories stores in London. Other brands such as Harrods, Burberry and Fendi have been “subtly” pushing children’s clothes via social media.
According to a report from WWD, the birth of the future king will boost baby-related sales in England by $368 million through Aug. 31. Because of this, marketers and consumers everywhere are happy for the new addition to the royal brood. Congratulations, Wills and Kate!