Hong Kong held its place as having the world’s highest rent for prime retail properties in the first quarter, demanding almost 50 per cent more than property in comparable locations worldwide. According to a report by CBRE Group Inc., rents in Hong Kong were more than four times those in similar locations for London and Paris, with annual retail rent in high-end shopping areas in the Chinese metropolis averaging at USD 4,328 per square foot.

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Controversial British fashion designer, John Galliano, has abruptly cancelled his ‘SHOW ME EMOTION’ workshop at Parsons, according to The Cut. The news comes after Galliano refused to engage in a “frank discussion” about his career “trajectory”. Galliano became embroiled in controversy following anti-Semitic remarks made in a Paris bar in 2011.

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Seemingly unperturbed by profit warnings, luxury brand Mulberry is set to ramp up expansion plans over the current fiscal year, eyeing new locations across northern Europe, Asia, the US and Canada. According to WWD, Mulberry’s first stand-alone store located on Belin’s Kurfürstendamm is the first of a handful planned for Germany.

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Costa Coffee owner Whitbread is reportedly on the hunt for high street stores in Paris as it looks to expand the chain’s presence across the Channel. The coffee chain, which is the second largest in the world behind Starbucks and the largest in the UK, has been running outlets at a number of travel hubs across Spain, Portugal and the Gare de Lyon rail station in Paris to help test interest in the brand on the continent.

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Hermès International SCA on said in a statement on Thursday that it saw a notable 24.6 per cent rise in profit in the financial year of 2012 after increasing their production capability. The profitability came as a surprise to analysts, of which most expected the profit to be EUR1.09 billion.

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Riccardo Tisci is to create the outfits for the Ballet de l'Opéra de Paris production of 'Boléro', WWD has reported.

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Jennifer Lawrence stars in the Miss Dior Handbag campaign. Christian Dior SA, parent company of the Dior fashion house and LVMH Moët Hennessy Louis Vuitton reported a 14 per cent on-year rise in sales to EUR 22.81 billion in the nine months to the end of January. Sales of Christian Dior Couture rose 19 per cent to EUR 971 million in the nine months from 1 May 2012 to 31 January, while Dior continue to expand its retail network, growing by 24 per cent for the period and boosted by all product categories.

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MAC Cosmetics is set to launch their new flagship store on Champs-Elysées, Paris on Friday, according to WWD.com. This store will be MAC’s third-largest store, the two New York sites being the only two to surpass it. The 4,022-square-foot property is situated in the busy Champs-Elysées that attracts more than 170 million people annually.

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Fighting talk from Galeries Lafayette as its chief executive plans a counter offer for rival Printemps. Philippe Houze, chief executive of upmarket department store Galeries Lafayette has told French daily Le Figaro the retailer plans to make a counter bid on its competitor, after news emerged that Qatari investors had teamed up with Italian businessman Maurizio Borletti.

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Printemps, the high-end French department store has caught the eye of Qatari investors who are reportedly involved in exclusive take-over talks with the company. According to Reuters, unnamed Qatari investors have joined forces with Italian businessman Maurizio Borletti to bid for a 70 per cent stake in Printemps, currently owned by Deutsche Bank’s real estate arm RREEF.

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