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In a recent Wall Street Journal article "Ranks of Rich March from West to East", we learned that the millionaire population grew much faster in emerging markets than in the U.S. in 2007. In fact, the number of millionaires in the BRIC countries (Brazil, Russia, India, and China) grew 19% compared with only 3.7% in the U.S. Now, before you pack your bags and relocate, it is important to remember that the U.S. still dominates the world with more than 3,000,000 financial millionaires (investable assets of $1 million or more).
So what does this mean to you? 1) Re-approach your marketing here in the US and tailor your message to clients with money who are being sensitive to the economy. The same messaging from 2007 is not working in 2008. 2) Identify one country somewhere else in the world and figure out a way to visit and set up business appointments first. The economy is global, the money is growing elsewhere, and why shouldn't you be part of it?
For my part, I will be traveling to the Focus Show at Chelsea Harbour in London in September, New Delhi, India for a Luxury Marketing conference, as well as Sao Paolo, Brazil in October. I am not going to sit and wait for the business to come to me because it will not. Call me if you would like to be part of this international exploration!
Lastly, I think that Stephen Drucker with House Beautiful said things so eloquently in his last editorial: " I can't mention the economy anymore. It's in the news, it's at the gas pump, it's in the air every day. To everyone who hesitates that decorating is a luxury at this unsettled moment, I'd like to say that I think home is more important than ever, not a last priority in your budget, but a first. Now is the time to set a beautiful table and invite friends for dinner, rather than go to a restaurant. Now is the time to get a deal on that big TV and create your own home theatre, rather than go out to movies. Now is the time to paint a room a pretty color, or buy some pillows for your sofa, or dress up your bed in new sheets. And now is definitely the time to renovate a kitchen or bath, or even add a room, as contractors become less busy and more eager to please. Home isn't a luxury; the money you spend, you'll enjoy every day. "
I'm always happy to hear from you 310.697.7700 x6 or Lloyd@dmcnyc.com
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Design Management Company is pleased to welcome interior designer Stockton Briggle www.stocktonbriggle.com into the fold with exclusive representation for his firm. DMC will be handling all marketing outreach and business development, contract negotiations, and licensing opportunities. We are excited to have an opportunity to expand his current client base in Los Angeles and Dallas to everywhere in the world that there is a need for his elegant and warm designs that don't look "decorated". Stockton draws on decades of experience as a Director/Producer of films, television movies and theater in order to create living sets for his clients to enjoy the theater of life!
Design Management Company is pleased to announce the formation of Art Management & Consulting, a division of Design Management Company dedicated to strategic planning and consulting for fine art galleries, museums, corporate and private collectors, and interior designers with clients who have extensive art collections to house and grow. With AMC we celebrate the arrival of Christel Dahlen who will be leading this initiative after working internationally for the last decade with the foremost collectors, galleries, and corporations. Please contact Christel at 310.697.7700 x8
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- September 14th, Business of Luxury Global Summit 2008, New Delhi, India
- October 2nd-6th Sao Paolo, Brazil, Luxury Marketing Council
- October 20th-23rd, High Point, North Carolina
(International Home Furnishings Market)
- September 21-24th Focus Show, London
- September 17th, ASID New York Metro Industry Partner Event
- October 9th, Master's Class, Denver Design Center
- October 14th, Master's Class, Pacific Design Center, Los Angeles
- October 16th, State of the Industry, Seattle Design Center, Washington
- October 22nd, State of the Industry, High Point, North Carolina
- October 29th, Master's Class, Michigan Design Center
- November 3rd, State of the Industry, Dallas Market Center
DESIGN MANAGEMENT COMPANY
Los Angeles 9000 Sunset Blvd, Ste. 704, Los Angeles, CA 90069
New York 207 West 25th Street, 4th Floor, New York, NY 10001
New York 212.777.5718 | Los Angeles 310.697.7700
www.dmcnyc.com www.dmccds.com |
