Barclay declined to disclose what the French luxury goods maker is paying to sponsor the series, which will determine the opponent for defending champion Oracle Team USA in the 34th America’s Cup starting Sept. 7. But he said sponsorships of this type are generally worth tens of millions of dollars. He added that the reduced sponsorship fee won’t affect the sailing. Louis Vuitton has sponsored the challenger series since 1983. The regatta has gotten off to a troubled start.
LVMH China Watch Sales Decline Offset by Overseas Buying
Racers foiled downwind for maximum speed including critical maneuvers. New Zealand, up on foils, both hulls out of the water, slid sideways as it jibed, turning downwind at Gate Two. Barker left both dagger boards down around the turns in case the boat set back down on the surface. About control, the racers must stay within invisible borders or incur penalties, signaled from the race committee boat by a blue light on board the racing yachts. Luna Rossa also had to give way under sailing rules when the Italians and the Kiwis looked to be on a collision course and each on a port tack. As we learn in basic sailing school, a boat on port tack, with the wind coming over a sailors left shoulder, has no right of way and when both are on port tack, its the windward boat that must give way since it has more room or power to maneuver than the leeward presumably. Space age sailing suits Designers build everything for speed from the boat to the sailing suits. Sailors wore new sailing suits that looked aeronautical, sleek and flexible to allow the crew to run up and down the trampoline between the hulls, the race highly physical and the sailors athletic, in continual motion. New Zealand wore black and silver with a cutaway design in the sleeve revealing automated arms, robotic gladiators.
Louis Vuitton Cup led by New Zealand, super catamarans flying together on SF Bay (Photos)
The owner of the Bulgari and Tag Heuer brands is seeing rising demand in the Southeast Asia region even as sales have recently been a bit soft in Singapore, Trapani said. Growth in luxury-goods spending will be sustained this year as booming demand in Southeast Asia offsets a slowdown in China and Europe, Bain & Co. said in a report on May 16. Malaysia, Indonesia, Vietnam are progressing well, Trapani said. Its not a boom, but certainly these are countries that are growing and becoming more important and more interesting than they used to be with us. Acquisition Targets Singapores dollar has appreciated against the currencies of its four major Southeast Asian counterparts over the past three months, according to data compiled by Bloomberg. The currency strength has hurt tourist and consumer spending in the island city and led to slower sales at LVMHs stores, Trapani said. Trapani, 56, a member of the Bulgari family who joined LVMH as part of the companys 2011 acquisition of the Italian jeweler, said LVMH will focus on growing existing brands while keeping a lookout for potential targets. Priority number one is to focus on the brands that we own, Trapani said.