CANNES, France — Beauty’s travel-retail business — worth $14 billion globally — is going from strength to strength, thanks largely to passengers from emerging markets.
That was the buzz during the Tax Free World Association annual meeting at the Palais des Festivals here, which ran from Oct. 21 to 26 and was among the most optimistic in recent years. It was also the busiest, with visitor numbers rising 4 percent versus the 2011 session to 6,074, and the amount of companies represented gaining 5 percent to 2,877.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"