In a significant development for the luxury sector, shares of Richemont, the parent company of renowned brands such as Cartier, saw a notable increase on Thursday. This surge followed the luxury group’s announcement of a 10% rise in sales for the fiscal third quarter, despite fluctuations in demand from crucial markets like China. The company’s
Wealth
With the festive season fast approaching, J.P. Morgan Private Bank has unveiled its anticipated Holiday NextList 2025. This curated selection not only features an impressive array of books and artistic experiences but also highlights a vision for the future that empowers the next generation of affluent individuals. The list encompasses a variety of cultural and
In recent years, family offices have emerged as crucial players within the financial landscape. As wealth concentration increases globally, the importance of managing that wealth with astute financial strategies has come to the forefront. With the number of family offices surging from roughly 6,000 in 2019 to over 8,000 today, and their assets projected to
The ongoing debate surrounding the tax status of non-domiciled individuals, or “non-doms,” in the UK, has reached a pivotal moment. With significant pressure from the government and calls for reform, the ultra-wealthy non-doms are advocating for a tax system similar to Italy’s flat-rate approach. This strategy has been proposed as a solution to prevent an
The increasing presence of women among the world’s wealthiest individuals marks a significant shift in the global economic landscape. A recent analysis reveals that women now comprise 13% of the billionaire class, equating to 431 out of 3,323 billionaires worldwide, as per the Altrata Billionaire Census. Although this percentage may appear modest, it’s critical to
In an era marked by unprecedented shifts in art valuation and the integration of technology, few events encapsulate this phenomenon quite like Justin Sun’s audacious acquisition of Maurizio Cattelan’s infamous art piece, “Comedian.” This iconic artwork—a banana duct-taped to a wall—was sold for a staggering $6.2 million at a recent Sotheby’s auction, signaling a profound
The global art market is experiencing notable transformations, with sales witnessing a downturn for the second consecutive year. This trend has been underscored by a recent survey from Art Basel and UBS, which suggests that high-net-worth individuals are reassessing their purchasing strategies. Specifically, auction sales at major houses like Christie’s and Sotheby’s have dipped dramatically—with
The world of high-net-worth individuals and their investment strategies is constantly evolving, particularly in the realm of startups. A recent analysis highlights how family offices have taken on more significant roles in venture capital, making over 150 investments across a multitude of sectors in 2024 alone. This article endeavors to dissect the trends, opportunities, and
Burberry, a historic name in luxury fashion, has recently undertaken a significant transformation aimed at rejuvenating its brand and reconnecting with its core customer base. With the announcement of the “Burberry Forward” initiative, the brand seems poised to address the challenges it has faced in recent years. The luxury market is in flux, with consumers
The personal luxury goods market has long been considered a robust sector, demonstrating resilience and growth even in turbulent economic climates. However, after 15 consecutive years of expansion, recent reports suggest that this sector is bracing for its first significant slowdown since the Global Financial Crisis. According to Bain & Company’s annual luxury report, macroeconomic