Wealth

As the shimmering lights of lavish jewelry continue to dazzle the global stage, a stark contrast looms for those navigating the luxury market. The super-rich, unyielding in their quest for the extraordinary, are certainly distinguishing themselves from a broader consumer demographic that appears to be tightening their fiscal belts. In a world where diamonds sparkle

In a world overshadowed by economic uncertainty, Richemont’s latest financial performance feels like a breath of fresh air—an assertion of resilience from a luxury titan. The owner of Cartier reported impressive fourth-quarter sales of €5.17 billion, surpassing analysts’ expectations and showcasing the enduring desire for luxury amidst fluctuating global markets. This remarkable growth, marked by

Burberry’s recent announcement of sweeping organizational changes reveals the luxury brand’s relentless pursuit of recovery amid stark challenges. When a renowned name in high fashion struggles, the ripples are felt not just within its boardrooms but across the entire luxury market. The prospect of impacting approximately 1,700 roles globally and reducing personnel costs underscores the

In the world of horology, few items capture the attention of collectors and enthusiasts quite like a rare watch from an esteemed brand. A striking example is the 1999 Platinum Rolex Daytona that is set to hit the auction block at Sotheby’s Geneva. With a potential sale price reaching a staggering $1.7 million, this timepiece

In a troubling sign of rising exclusivity in elite social circles, Washington, D.C. has introduced a new private membership club whose initiation fee is a staggering $500,000. Titled Executive Branch, this club co-founded by Donald Trump Jr. has set a precedent that reflects not just a hyper-wealthy enclave but also signals a considerable widening of

Kering, once a titan in the luxury goods market, is grappling with an unsettling reality: it is seemingly out of sync with changing consumer preferences. The staggering 14% decline in first-quarter sales poses critical questions about the brand’s ability to remain relevant in a hyper-competitive industry. With revenues slumping to a mere 3.9 billion euros,

In 2024, the IRS was celebrated for its ambitious plan to reclaim lost tax revenue as Congress allocated $80 billion to bolster its staff. The objective was clear: modernize the agency with young, tech-savvy professionals capable of tackling the increasingly complex landscape of tax evasion by the wealthy. Wesley Stanovsek, a promising hire in this

In a startling turn of events for the luxury market, LVMH Moët Hennessy Louis Vuitton, once the undisputed monarch of high-end fashion, witnessed its shares plummet by as much as 8% on a Tuesday morning that felt more like a financial nightmare than a regular trading day. The reasons for this catastrophic drop? A disheartening

The European luxury goods sector has long captivated consumers with its exquisite craftsmanship and rich heritage. However, looming U.S. tariffs are casting a pall over this beloved industry, a reality epitomized by the recent decline in shares of prestigious brands like LVMH, Richemont, Kering, and Hermes. While these companies have historically enjoyed a robust market

When the news broke that Ferrari, the paragon of luxury automobiles, would increase prices by a staggering 10% due to new U.S. auto tariffs, the automotive world barely flinched. One might argue that a firm with the prestige and allure of Ferrari could raise prices without losing loyal customers. Yet, the abruptness of this decision