The recent announcement from Richemont, the owner of the prestigious Cartier brand, has sparked a renewed optimism in the luxury retail market. Following a reported 10% increase in fiscal third-quarter sales, reaching €6.2 billion ($6.38 billion) at constant exchange rates, the luxury group has positioned itself as a beacon of resilience amid ongoing global economic
Wealth
In a world continually shaped by wealth and innovation, J.P. Morgan Private Bank has emerged as a cultural steward for its affluent clientele. With its latest compilation, dubbed the “NextList2025,” the bank reveals a selection of holiday books and experiences designed for the elite. These thoughtfully curated offerings not only reflect current luxuries but also
In recent years, family offices — private wealth management advisory firms that serve ultra-high-net-worth individuals or families — have received increasing attention from prestigious academic institutions. As the complexity and scale of wealth managed by these entities continue to grow, universities are stepping in to provide critical educational frameworks to train the leaders of tomorrow’s
The ongoing discussion surrounding the taxation of Britain’s ultra-wealthy non-domiciles (non-doms) reflects deeper tensions in the country’s economic policies. As the Labour Party pushes for changes to the current non-dom tax status, a lobby group named Foreign Investors for Britain is advocating for an alternative approach, reminiscent of Italy’s flat-tax system. The sentiment among these
The composition of global wealth is undergoing a significant transformation as women assert their place within the billionaire echelon. Recent studies, such as the Altrata Billionaire Census, reveal that women now comprise 13% of the 3,323 billionaires worldwide. While this percentage may initially appear trivial, it is important to note that the presence of female
In a remarkable blend of contemporary art, cryptocurrency, and social media culture, the sale of Maurizio Cattelan’s infamous artwork, “Comedian,” has drawn both intrigue and skepticism. This article dissects the implications of Justin Sun’s recent $6.2 million purchase of a banana duct-taped to a wall, shedding light on the evolving landscape of art valuation, consumer
The global art market is navigating through a period of significant transformation, marked by an anticipated second consecutive year of downturn. As per the latest findings illustrated in the Art Basel/UBS Survey of Global Collecting, the auction sales conducted by leading auction houses, including Christie’s, Sotheby’s, Phillips, and Bonhams, witnessed a staggering 26% decline in
In 2024, family offices have solidified their significant presence in the startup investment arena, with some of them dramatically reshaping venture capital dynamics. Recent analyses reveal that various renowned family offices have collectively invested in over 150 startup companies in diverse sectors including biotechnology, energy, cryptocurrency, and artificial intelligence. This shift, detailed in a collaboration
In recent times, the luxury fashion landscape has seen significant shifts, driven by evolving consumer preferences and an increasingly competitive marketplace. Burberry, a name synonymous with classic British elegance, finds itself at a crossroads. The fashion house has announced a significant strategic overhaul, dubbed “Burberry Forward.” This initiative aims to rekindle consumer interest by re-emphasizing
In the ever-evolving landscape of consumer habits, the luxury goods market, known for its resilience, is currently facing unprecedented challenges. According to Bain & Company’s annual luxury report, 2024 marks the first significant decline in personal luxury goods demand since the Global Financial Crisis of 2008. This downturn can largely be attributed to macroeconomic instability,