It's no surprise that rent for prize retail real estate in Hong Kong is sky-high. But this year, its rise has hit yet another milestone, with rent in Causeway Bay becoming the world's most expensive.

To commemorate its launch in China, Milan-based designer discount e-commerce site Yoox recently teamed up with British supermodel Naomi Campbell and her not-for-profit charitable initiative, Fashion for Relief.

As the year starts to draw to a close, and major gifting periods like Chinese New Year approach, is the worst of the luxury slowdown over?

Swiss watchmaker and jeweler Piaget recently pulled out all the stops for the grand opening of its new Asia flagship boutique at the Mandarin Oriental Hong Kong, throwing a blowout gala attended by 160 execs, local celebrities and VIPs.

Having seen China sales skyrocket in recent years, with mainland Chinese now accounting for 20 percent of Shanghai Tang sales, up from a minuscule three percent in 2009, CEO Raphael Le-Masne-De-Chermont is optimistic about his company's growing reliance on mainland China.