Top 10 countries gaining and losing millionaires in 2022

Top 10 countries for net inflows of HNWIs in 2022. By the end of the year, 88,000 millionaires are expected to have relocated to new countries. UAE expected to overtake it by attracting the largest net inflows of millionaires globally in 2022, according to the latest Henley Global Citizens Report, which tracks private wealth and … Read more

Ralph Lauren’s cashmere sweater to be the first-of-its-kind luxury Cradle to Cradle Certified product

@Ralph Lauren Cable Knit Cashmere Jumper

How we design and make products today shapes the world we will inhabit tomorrow.

American fashion company Ralph Lauren has recently launched a new circularity strategy. As part of this effort, they will certify five of their iconic products under the Cradle to Cradle Certified Products Program. Cradle to Cradle Certified is the global standard for products that are safe, circular and responsibly made.

Ralph Lauren Deepens Commitment to Timelessness in 2022 Global Citizenship & Sustainability Report.

Ralph Lauren Corporation published its 2022 Global Citizenship & Sustainability Report, outlining the high end brand’s progress across its environmental, social and governance (ESG) commitments. The new Report further details Ralph Lauren’s evolved Timeless by Design approach to ensure its philosophy of timelessness is embedded from inspiration through to products’ every use and reuse across generations.

“Ralph’s embrace of timelessness has kept our designs and, ultimately, our business resilient and relevant for more than 50 years,” said Patrice Louvet, President & Chief Executive Officer, Ralph Lauren Corporation. “Embedding this philosophy across our entire value chain is a natural and critical extension of Ralph’s vision as we work to address our impacts beyond the beautiful products and experiences we create.”

As part of Timeless by Design, the American luxury brand strengthened its commitment to advancing a circular economy through its new Live On promise to enable its past and future products to live on responsibly by 2030. The new commitment includes targeted goals such as investing to scale regenerative practices and innovative technologies by 2025 and extending the life of its products by piloting ways for its consumers to rent, repair and recirculate Ralph Lauren products by 2025 in select top cities.

Ralhp Lauren’s iconic cashmere sweater will be the first-of-its-kind luxury Cradle to Cradle (C2C) Certified product, available to consumers later this year.

Cradle to Cradle Certified assesses the safety, circularity and responsibility of materials and products across five categories of sustainability performance:

  • Material Health: ensuring materials are safe for humans and the environment;
  • Product Circularity: enabling a circular economy through regenerative products and process design;
  • Clean Air & Climate Protection: protecting clean air, promoting renewable energy, and reducing harmful emissions;
  • Water & Soil Stewardship: safeguarding clean water and healthy soils;
  • Social Fairness: respecting human rights and contributing to a fair and equitable society.
  • @Ralph Lauren

Additional progress shared across Ralph Lauren Timeless by Design’s three pillars, Create with Intent, Protect the Environment and Champion Better Lives, include:

Announcing the formalization of a Design with Intent department responsible for culturally sustainable design, product development and brand storytelling;

Launching its Artists in Residence program, part of the Company’s journey to further engage Native American and Indigenous communities;

Donating more than $2.5 million in scholarship funds from the Ralph Lauren Corporate Foundation to institutions focused on providing equitable access to higher education;

Strengthening its efforts to elevate factory workers and worker life skills training, from providing evolved personal health and digital learning programs to supervisory and leadership training;

Widening the aperture of its design inspiration and brand storytelling to deliver on the high-end brand’s commitment to expand its portrayal of the American dream through the Polo Ralph Lauren Exclusively for Morehouse and Spelman Colleges Collection;

@Ralph Lauren RL Purple Label Pre Fall 2022

Launching a comprehensive disability equity strategy focused on six key pillars, including integrating accessible design practices into its product offerings, building on the Company’s Valuable 500 pledge to add disability awareness to its Board’s DE&I agenda;

Increasing transparency and reporting across human rights due diligence throughout its supply chain; and

Committing an inaugural grant through the Ralph Lauren Corporate Foundation to establish the U.S. Regenerative Cotton Fund, supporting long-term, sustainable cotton production in the United States with the goal of eliminating 1 million metric tons of carbon dioxide equivalent from the atmosphere by 2026.

@Ralph Lauren

The Great Rebalancing: Travel spending shifts back to experiences over things. Report

  The desire to travel is strong, and consumer and commercial demand for air travel, measured by flight bookings, accelerated meaningfully in early 2022. Could this be the start of travel’s long-awaited recovery? Cruises, buses and trains see strong spending rebound in 2022 as Covid restrictions loosen. Mastercard Economics Institute: Pent-up demand drives global leisure … Read more

Beauty Trend Report Reveals Shift to Natural Hair Color and Hair Health

How the consumer hair trends have evolved over the course of the pandemic. Perfect Corp., the leading artificial intelligence (AI) and augmented reality (AR) beauty and fashion tech solutions provider, released its latest Global Beauty Trend Report, “The 2022 Top Hair Color Trends Around The World: A Global Analysis of Virtual Hair Color Try-On Data … Read more

Record-Breakers: Real Estate, Cars, Fine Wine, Sneakers, Gems, and more

Palm Jumeirah Villa @luxhabitat.ae/ LUXHABITAT © 2022

Sotheby’s International Realty Second Annual Luxury Trend Report for the Year reveals luxury real estate trends and last year auction record-breakers.

Sotheby’s International Realty’s 2022 Luxury Outlook report identifies the trends likely to shape the world’s prime housing markets in the year ahead. The comprehensive report offers insight into the high-end real estate industry as the starts-and-stops of the pandemic’s reopening fueled even stronger demand and inventory struggled to keep pace.

REAL ESTATE

Several sales were standouts last year, including One 100 Palm Jumeirah, a 14,000-square-foot contemporary mansion in Dubai, sold by Luxhabitat Sotheby’s International Realty. The final sale price was AED111.2 million , which sets the record for the highest closing price on a single signature villa in the region. In Hong Kong, a US$55 million home, nestled in quiet, tree-filled acreage and featuring a 2,181-square-foot private garden and 830-square foot rooftop, set sales records when it sold through List Sotheby’s International Realty, Hong Kong. In the U.S., the sale of an US$80 million hilltop mansion in Pacific Palisades to a buyer who made his fortune in cryptocurrency set sales records for the Westside of Los Angeles and features a retractable roof and two panic rooms. It was sold by Sotheby’s International Realty–Pacific Palisades Brokerage.

Michael Jordan Earliest Known Regular Season Nikes | Game Worn & Signed Air Ships | @Sotheby’s

SNEAKERS

In April 2021, Sotheby’s auction house sold a rare pair of Nike Air Yeezy 1 prototypes, worn by Kanye West at the 2008 Grammys, for US$1.8 million to Rares, a start-up that allows users to buy and trade shares of the highest valued sneakers. At US$1.5 million, a pair of worn Michael Jordan Nike Air Ship sneakers, which sold in October, became the priciest game-worn footwear from any sport sold at auction.

CARS

This year marked the first time a Lewis Hamilton F1 car has been offered for public sale. During a unique event, conducted immediately after the Formula 1 Pirelli British Grand Prix 2021, and featuring demonstration laps in front of 140,000 spectators, Sotheby’s sold Lewis Hamilton’s 2010 Turkish GP race- winning McLaren MP4-25A for a record £4,836,000.

 

FINE WINE

The white-glove sale of wines from the cellar of Hong Kong billionaire Joseph Lau doubled the pre-sale estimate, and Sotheby’s three-day sales series of wines and spirits ended with an outstanding total of HK$119.5 million/US$15.4 million.

The Key 10138 is the first important diamond in the world to be auctioned with cryptocurrency; @sotheby’s

GEMS

The Key 10138, an exceptional, rare 101.38-carat pear-shaped D flawless diamond was the second largest pear-shaped diamond ever to appear on the public market. This year it set the highest price achieved for any physical item ever offered for purchase with cryptocurrency, at HK$95.1 million. Another record sale: Last year the largest Kashmir sapphire ever to be offered at auction sold in Geneva for CHF3.53 million as part of a brooch. Kashmir sapphires over 30 carats are rare, and this Kashmir sapphire, a 55.19-carat gem, was formerly in the collection of Maureen Constance Guinness, of the Anglo-Irish brewing family, who died in 1998.

STAMPS

In June, Sotheby’s sold a block of four “Inverted Jenny” postage stamps, dating to 1918 and thought by many to be the most important piece in U.S. philately, for US$4.9 million, US$2 million more than the block went for the last time it was sold, and a record auction price for a U.S. stamp.

COINS

A new world record for a coin at auction was achieved in 2021 with the US$18.9 million sale of the “elusive” 1933 Double Eagle coin. Last bought by fashion designer Stuart Weitzman at a record-setting price in 2002, this is America’s last gold coin in circulation. It’s considered one of the most beautiful coins minted in the U.S. and features Liberty, personified by a statuesque woman, on one side and an American eagle in flight on the other.

1933 Double Eagle coin; @sotheby;s

Luxury real estate remains a trusted investment amid relatively low interest rates and inflation. 2022 Report

What real estate buyers can expect in the coming year as pent-up demand from international buyers is expected to increase. Sotheby’s International Realty Second Annual Luxury Trend Report for the Year reveals that relief from the market frenzy may not happen quickly as prices are expected to rise in 2022. In addition, a shift to … Read more