Business

Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.

UK luxury authority announces the welcome return of tax-free shopping for visitors to the UK

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The UK Government announced the return of tax-free shopping for visitors to the UK. British politician Kwasi Kwarteng, serving as Chancellor of the Exchequer since 2022, told the House of Commons that the UK Government will put in place a “modern, digital, VAT-free shopping scheme”. This will include modernisation of the scheme in Northern Ireland … Read more

Three major trends driving luxury for-sale housing markets around the globe. Report

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The strong luxury real estate market of the past two years will continue for the remainder of 2022 and into 2023 despite high inflation, rising interest rates and stock indexes that have posted double-digit losses on the year. That is one of the main conclusions of the new 2022 Mid-Year Luxury Trends Report recently released … Read more

How to Diversify Your Income

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Tips for Diversifying (and Increasing) Your Income One income stream is great. Two are better. And if you could generate three or four streams of income on a monthly basis . . . why wouldn’t you? Traditionally, people have gotten by with a single income source. You hired on to a 9-to-5 job, collected a … Read more

Luxury clean beauty brand Tata Harper sold to Korean cosmetics giant

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Korean cosmetics giant Amorepacific announces the acquisition of luxury clean beauty brand Tata Harper. Korean cosmetics group Amorepacific has entered into a definitive agreement to acquire Tata’s Natural Alchemy, LLC (“Tata Harper”), a pioneer in natural luxury skincare, in a move that further signals the company’s intention to continue its penetration of global markets with … Read more

Can Gen Z luxury customers have fun without visiting the real location? Bulgari reveals virtual world on Asia’s biggest metaverse platform

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BVLGARI unveils “BVLGARI World”, a virtual world launched in collaboration with ZEPETO

“Bulgari Sunset in Jeju” on @Zepeto x @Bulgari

Italian luxury brand BVLGARI has an exclusive virtual world on ZEPETO, Asia’s biggest metaverse platform. This new virtual universe includes a pop-up store “BVLGARI SUNSET IN JEJU” and provides visitors with online and offline experiences.

BVLGARI unveils “BVLGARI World”, a virtual world launched in collaboration with ZEPETO.

The pop-up store and a café, physically located in Parnas Hotel Jeju are virtually created in BVLGARI ZEPETO World so visitors can experience and have fun without visiting the real location. BVLGARI ZEPETO World showcases 2022 BVLGARI Resort Collection inspired by the summer sky with hues of gold and warm apricot in Eden, and visitors can enjoy desserts and beverages at “BVLGARI SUNSET IN JEJU”, an epitome of the brand’s identity.

In particular, the virtual world has added some fun elements for its users. For instance, when visitors complete a quest, they will receive BVLGARI Resort Collection and signature accessory pieces and dress their avatars. Users can experience the brand by dressing their avatars with iconic B.zero1, Divas’ Dream and Serpenti collection pieces.

In addition, Blackpink Lisa, the brand’s global ambassador, hosted a virtual live event on August 31, which already received a lot of attention. Her avatar will enjoy various interactive experiences with fans on the virtual BVLGARI world including taking selfies.

ZEPETO, a metaverse platform run by Naver Z, has more than 320 million users in the world since its launch in August 2018. 80% of users are teenagers, as such, the platform is cementing its position as a popular playground for global generation Z in the era of metaverse.

@Zepeto x @Bulgari

 

Van Cleef & Arpels, Cartier, and Montblanc parent company to open e-concession for all its luxury brands

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Richemont, third-largest luxury goods company in the world, FARFETCH and Alabbar Advance the Digitalisation of the Luxury Industry. Richemont is building an independent, neutral online platform for the luxury industry that would be highly attractive to both luxury brands and their discerning clientele. Richemont Maisons to adopt FARFETCH Platform Solutions to advance the realisation of … Read more