Ferrari’s recent announcement to raise prices by 10% on select models post-April 1 is not just a reflection of rising tariffs; it uncovers a troubling undercurrent in the world of luxury goods. With price increases of up to $50,000 on a typical model, one can’t help but question the ethics of such pricing strategies, especially
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The abrupt announcement that Demna Gvasalia will assume the artistic director position at Gucci shocked investors, culminating in a steep 10.75% decline in Kering’s shares on Friday. This marks the most significant drop since the 2008 financial crisis and raises serious questions about Kering’s strategic direction. The decision to elevate Demna, who has successfully helmed
The recent announcement of President Donald Trump’s proposed “gold card” visa program has stirred significant discussion among global investors and wealthy individuals contemplating U.S. residency. With a staggering price tag of $5 million, the program promises not only the coveted status of permanent residency but also a peculiar tax advantage that American citizens do not
The luxury sector in Europe, often deemed a bellwether for global consumer sentiment, appears to be experiencing a tentative revival following a promising earnings season. However, the journey to recovery is fraught with complexities stemming from declining demand in China and potential trade tariffs in the U.S. As analysts scrutinize the market, it becomes clear
Hermes, the iconic haute couture fashion house renowned for its Birkin handbags, has demonstrated its resilience amid a turbulent luxury sector by reporting remarkable growth in its fourth-quarter sales. For the period ending December 31, the company recorded a substantial year-on-year revenue increase of 17.6%, bringing in 3.96 billion euros, which surpassed analysts’ predictions of
The luxury goods sector has shown signs of vulnerability as consumer demand fluctuates, and Kering SA is no exception to this trend. The French-based luxury conglomerate, which oversees prestigious brands like Gucci, Balenciaga, and Bottega Veneta, recently reported its fourth-quarter sales results. While the figures outperformed analyst expectations, they still marked a notable decline compared
The recent controversy surrounding a book titled “The 38 Letters from J.D. Rockefeller to His Son” has ignited discussions about authenticity and the challenges of regulating literary content in the digital age. Prominently featured among Amazon’s top-selling economic history books, the collection purportedly comprises letters penned by John D. Rockefeller Sr. to his son, John
Luxury goods industry giant LVMH has recently showcased impressive growth within its watches and jewelry segment, reversing a trend of declining sales that characterized much of the previous year. Following a series of downturns, the company’s latest quarterly report revealed a modest sales increase of 3% in its watches and jewelry group. This rebound is
On Wednesday, LVMH (Moët Hennessy Louis Vuitton), the world’s leading luxury conglomerate, saw its share price decline significantly following the release of its annual financial results. Although the company’s revenues for 2024 reached an impressive 84.68 billion euros ($88.27 billion), surpassing analysts’ predictions, the uncertainty surrounding the wider luxury market loomed large. This situation raises
On Tuesday, LVMH, the world’s leading luxury conglomerate, unveiled its financial results for 2024, exceeding analyst expectations and providing a glimmer of hope for the beleaguered high-end retail sector. This announcement is particularly significant as it marks a potential inflection point for a market that has struggled in recent years. The conglomerate, which houses prestigious