Watchmakers Look to Bespoke Design to Court The Super-Rich

Buccellati Watches | Source: Buccellati

CHIASSO, Switzerland — As luxury watchmakers seek to keep increasing sales while preserving exclusivity, they are taking a leaf out of the haute couture book, making watches to order with anything from diamond stars to fully personalised shapes and decorations.

…Continue Reading

Arnault Lets Them Eat Cake Amid Luxury Hospitality Push

Maison Cheval Blanc - Courchevel | Source: LVMH

PARIS, France — French billionaire Bernard Arnault wants you to spend the night and eat his pastries. After decades of acquiring luxury goods that consumers can drink and wear, the chairman of LVMH Moet Hennessy Louis Vuitton SA last week bought a five-star hotel in St. Barths and in June added a storied Milanese cafe, accelerating his push to meet all his well-heeled clients’ earthly needs.

…Continue Reading

Richemont Chairman Takes a Break to See Who’s The (Next) Boss

Johann Rupert | Source: Courtesy photo

ZURICH, Switzerland — Richemont boss Johann Rupert has promised to switch off his phone when he takes a break from the company in September. For the South African billionaire it will mark the start of a year-long sabbatical. For his younger managers, it will mark the start of a 12-month competition to show how well they can steer the world's second biggest luxury goods group in his absence - and possibly, ultimately, replace him.

…Continue Reading

China’s Anti-Corruption Campaign is Masking the Real Causes of the Luxury Slowdown

A Gucci store in Beijing | Source: Shutterstock

Contrary to numerous reports, broad changes in Chinese consumer behaviour and sentiment — not the country’s much publicised anti-extravagance campaign — are the likely causes of China’s luxury slowdown, says Anne Zhang, a reporter for Chinese business magazine CBNweekly.

…Continue Reading

Market Pulse | Reassurance

Savigny Luxury Index November 2012 | Source: Savigny Partners

LONDON, United Kingdom — The Savigny Luxury Index (‘SLI’) increased by almost 3 percent in November, while the MSCI World Index (‘MSCI’) slipped nearly 1 percent for the month.  From mid-November, global markets and the SLI enjoyed a strong rally on better economic news from China and hopes that the US might avoid the feared fiscal cliff. Big news A flurry of positive economic newsflow has lifted investors’

…Continue Reading