Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
Porsche and Rolls-Royce follow into the footsteps of Ferrari and Lamborghini and announced stop production due to the Coronavirus (Covid-19). As from the coming week, Porsche will suspend production for an initial period of two weeks. By taking this step, the sports car manufacturer is responding to the significant acceleration in the rate … Read more
In a proactive response to the unpredictable circumstances evolving from the global spread of COVID-19 (coronavirus) and in an abundance of caution, a series of luxury brands announced that they will voluntarily pause global operations. Rolex is shutting down three factories in Switzerland, while MGM Resorts shuts down all operations in … Read more
Tour operators relax their policies to encourage bookings as industry faces unprecedented challenge
The luxury market in Ukraine is experiencing gradual growth and retains its share of high-net-worth individuals. The post-soviet country offers diverse cultural influences, popular summer destinations, a rich heritage, and now the first Sotheby’s International Realty affiliated office. Sotheby’s International Realty Opens First Office in Ukraine. Sotheby’s International Realty Affiliates announced that InRealtyOU … Read more
The US retained its position as the largest art market globally. Millennial collectors were the most active buyers – and spent the most. Female collectors had a higher average level of spending than men. The art market often mirrors the trends and economic developments, experts like Paul Donovan, Chief Economist, UBS Global Wealth … Read more
For investors and entrepreneurs, there are many considerations that need to be taken into account, when looking to generate wealth in 2020 (and beyond). Knight Frank Wealth Report 2020 has picked six issues, including the relationship between geopolitical narratives and actual market data; the bipolar global economy, split by economic ecosystems … Read more