In a compelling display of resilience, Richemont, renowned for owning prestigious brands like Cartier, experienced a remarkable 10% increase in fiscal third-quarter sales. This surge denotes not just a rebound from previous setbacks but also an affirmation of the luxury market’s vitality in specific regions. The latest figures reveal that sales skyrocketed to €6.2 billion
Wealth
As the holiday season approaches, the search for the perfect gift transforms into an art form for many affluent families. The J.P. Morgan Private Bank has once again demonstrated its commitment to excellence with the release of its highly anticipated list of recommended books and experiences for its wealthy clientele. Dubbed the “NextList2025,” this compilation
In recent years, family offices have emerged as a significant force in the financial landscape, driving a need for specialized education tailored to their intricacies. Educational institutions, particularly top-tier universities, have recognized this trend and are now embedding family office programs into their curricula. The University of Chicago Booth School of Business recently took a
In the heart of Britain, the non-domiciled (non-dom) taxation system is once again under scrutiny, raising alarms among the nation’s ultra-wealthy elite. As the government prepares for a pivotal budget announcement, there are increasing calls for a tax regime that mimics Italy’s flat tax system. The concerns centering around a potential mass exodus of wealthy
The wealth landscape is shifting. In recent decades, women have been steadily increasing their presence among the world’s billionaires, challenging traditional paradigms of wealth and influence. A significant report highlights that women now represent 13% of the billionaire population, with 431 female billionaires listed among the total of 3,323 globally. This statistic, while seemingly modest,
In a reflection of the ever-evolving landscape of contemporary art, a unique auction event made headlines when tech entrepreneur Justin Sun acquired a banana duct-taped to a wall for an astounding $6.2 million. The piece, dubbed “Comedian,” is a thought-provoking creation by the Italian artist Maurizio Cattelan. This peculiar transaction not only underlines the growing
The global art market is in a phase of noticeable transition, with projections indicating a second consecutive year of decline in overall sales. Recent data compiled by renowned institutions such as Art Basel and UBS reveals a staggering 26% drop in auction sales in the first half of 2024 compared to the previous year, marking
In recent years, family offices have carved out a significant niche in the world of startup investment, but their influence was particularly pronounced in 2024. This expanding trend reflects a marked shift in how wealthy families engage with emerging technologies and the startup landscape. A collaborative analysis by CNBC and Fintrx highlights the surge in
Burberry, a name synonymous with luxury and heritage in the fashion world, has recently found itself navigating choppy waters. As sales figures dwindle and consumer interest wanes, the brand has recognized the urgent necessity for a substantial transformation. With the announcement of the “Burberry Forward” initiative, new CEO Joshua Schulman aims to rejuvenate the iconic
The luxury goods industry is on the verge of a significant transition, as recent findings from Bain & Company’s annual luxury report indicate. This report suggests that the personal luxury goods market is likely to experience its first notable slowdown since the Global Financial Crisis over a decade ago. In stark contrast to a decade