Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
Bain & Company expects the wealth management market to double in size, exceeding $500 billion in revenues by 2030 Bain & Company released today a new study on the wealth management market, predicting customer demand for wealth management services to surge to more than $500 billion by 2030—double the size of the market in 2021. … Read more
Most Ultra High Net Worth individuals (UHNWs) rely on trusted advisors for their major investment needs and feel they are well-served for the most part. They thoroughly understand economic cycles, risk profiles, and risk/return and asset diversification scenarios across generations. During this unfolding economic downturn, most UHNWs prioritize their spending and investments based on individual … Read more
The French chain of cosmetic stores Sephora announced the sale of 100% of the shares of its subsidiary in Russia to its local General Manager, reported the press service of the LVMH luxury holding, which owns Sephora and operated stores in 34 cities in Russia. Sephora enters into an agreement for the sale of 100% … Read more
Mastercard SpendingPulse: U.S. Retail Sales in June Reflect Rising Prices for Essentials, Continued Leisure Spending. According to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, U.S. consumer retail spending excluding automotive increased +9.5% year-over-year (YOY) in June, while retail sales excluding auto and gas rose +6.1% YOY. Rising prices—particularly … Read more
Fort Partners Acquires Historic Palazzo Marini in Rome. Leading developer closes on the €165 million deal with the intent to develop the property into a luxury hotel managed by Four Seasons. Fort Partners Puerto Rico LLC (Fort Partners), led by Founder and CEO Nadim Ashi, announced the acquisition of the historic Palazzo Marini (3-4) for … Read more
The Next Chapter of Joseph Phelps Vineyards Moët Hennessy, the world leading luxury wines and spirits division of LVMH, is pleased to announce the addition of Joseph Phelps Vineyards to its portfolio. This acquisition follows Moët Hennessy’s development strategy, which aims to satisfy its consumers and distribution partners’ aspirations with an increasingly diversified and comprehensive … Read more