A $38,000 Handbag? For World’s Ultra-Rich, the Cost of Accessories Can Be Astronomical

Oprah Winfrey | Source: Associated Press

ZURICH, Switerland — In the upscale boutiques of Singapore, New York or Zurich — where Oprah Winfrey claims a sales clerk refused to show her a $38,000 bag — purses priced in the four figures are common.

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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.

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Long Overlooked, the Flourishing Philippines

Jacket and tie in the Philippines' national colours | Source: Ayala Land, Inc.

The Philippines has long been overshadowed by its larger neighbours and underestimated by international fashion brands. Now the country is reporting faster economic growth than China. BoF reports.

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Singapore’s Luxury Malls Face Off in IPO Contest

Paragon Shopping Centre, Singapore | Source: Shutterstock

SINGAPORE — Facing each other across Singapore’s Orchard Road shopping belt, the malls owned by Singapore Press Holdings Ltd. and Overseas Union Enterprise Ltd. have competed for shoppers. Now, they will compete for investors.

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Photo Diary | Milan Men’s Fashion Week, Days 1-2: Jil Sander, Versace, Bottega Veneta, Calvin Klein, Prada

MILAN, Italy — Today our contributing photographer Sonny Vandevelde files backstage imagery from the Jil Sander, Versace, Bottega Veneta, Salvatore Ferragamo, Calvin Klein, Vivienne Westwood, Prada and Moncler shows, held on days one and two of Milan men's fashion week.

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Prada to Focus on Cost Control After Quarterly Profit Gains 14 Percent

Wool and fur at Prada A/W 2013 | Photo: Sonny Vandevelde

MILAN, Italy — Prada SpA, an Italian maker of $3,500 pony-skin totes, said it will focus on cost control as it opens more stores after first-quarter profit rose 14 percent in “uncertain” market conditions.

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