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SIGNA PRIME/PROPERTY PORTFOLIOAccording to Signa, Prime is the group's largest company in its real estate division, valued at around 20.4 billion euros ($22.23 billion). Since 2019 Signa Holding has also been a co-owner of New York's iconic Chrysler Building. TRADING/RETAIL COMPANIESBenko has bundled his trading interests under the divisions Signa Retail and Signa Premium. In Switzerland, Benko's trading investments are bundled into Signa Retail Selection AG, which filed for bankruptcy protection on Wednesday. In 2018, Signa Holding bought around 24% stake in Austrian daily newspapers "Krone" and "Kurier" from Funke media group.
Persons: Lisi Niesner, Rene Benko, Ernst Tanner, Hans Peter Haselsteiner, Torsten Toeller, Arthur Eugster, SIGNA, Signa, Otto Wagner, Benko's, Klaus, Michael Kuehne, Kuehne, Hamburg's, Chirathivat, Benko, Frasers, Kaufhof, Karstadt, Galeria, Alexandra Schwarz, Goerlich, Mattias Inverardi, Victoria Farr, Emma, Rachel More, Elisa Martinuzzi, Tomasz Janowski Organizations: Signa, REUTERS, Chrysler, Bank Austria, Femina, Chrysler Building, . Central Group, Globus, Selfridges, Central Group, Funke, Thomson Locations: Berlin, Germany, New, Britain's Selfridges, Innsbruck, Swiss, Vienna, Hamburg, KaDeWe, Oberpollinger, Munich, Vienna's, Tyrol, Essen, Duesseldorf, London, Switzerland
Less than a week after presenting his third collection as Ferragamo’s creative director in Milan this past September, Maximilian Davis was at ease. The clothes — a luxurious combination of asymmetrical dresses and Italian tailoring — had been well received. As he spoke, quietly but with confidence, he gestured gently with his hands, like a conductor keeping an unhurried tempo. But despite the pressure to update a storied house for a new era, Davis, who now lives in Milan, has stayed true to his community. “It’s something that my mother could wear, but also my sisters.”
Persons: Maximilian Davis, , Davis, Kelela, Liz Johnson Artur, nightclubbing, Grace Wales Bonner, Mowalola Ogunlesi, Maximilian, Salvatore Ferragamo, Greta Garbo, Audrey Hepburn, , Organizations: London College of Fashion, Wales Locations: Milan, Manchester, England, Trinidad, London
René Benko’s company Signa is filing for insolvency, casting uncertainty over a property empire that includes a stake in upscale British retailer Selfridges. Photo: georg hochmuth/Agence France-Presse/Getty ImagesThe property slump sweeping the globe has claimed a new high-profile victim: René Benko, an Austrian-born retail and department-store magnate who also co-owns New York’s Chrysler Building. Benko’s main holding company, Signa Holding, said Wednesday it is filing for insolvency in Austria. The move, similar to U.S. bankruptcy procedure, puts billions of dollars of company debt at risk and casts uncertainty over a property empire that includes stakes in the largest department store chains in Europe, upscale British retailer Selfridges and a now-stalled Hamburg tower that would have been among the tallest in Germany.
Persons: René, Signa, georg hochmuth Organizations: Selfridges, Agence France, Chrysler, Signa Locations: Austrian, Austria, Europe, Hamburg, Germany
View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsFRANKFURT, Nov 26 (Reuters) - German logistics entrepreneur Klaus-Michael Kuehne is examining a takeover of Signa Group's abandoned Elbtower high-rise project in his hometown of Hamburg, Handelsblatt reported. Discussions on the takeover by Kuehne are quite advanced, but no decision has been made, German newspaper Handelsblatt reported, citing a source. Signa, owner of New York's Chrysler Building and Britain's Selfridges store, and spokespeople for Kuehne and the city of Hamburg did not respond to requests for comment on Sunday. This led to the insolvency of its subsidiary Signa Real Estate Management Germany on Friday, Spiegel magazine reported.
Persons: Rene Benko’s Signa, Fabian Bimmer, Klaus, Michael Kuehne, Group's, Handelsblatt, Signa, Kuehne und Nagel, Hapag Lloyd, René Benko, Emma, Victoria Farr, Alexander Smith Organizations: REUTERS, Rights, Kuehne, Lufthansa, Chrysler, Real Estate Management, Spiegel, Thomson Locations: Hamburg Germany, Hamburg, Austrian, Real Estate Management Germany, Signa, Germany
Vacuum maker Dyson has in recent years tied up with eBay UK to sell officially refurbished products at a hefty discount to the price of new ones. Some 23% of consumers globally say they are buying more second-hand products, according to the EY Future Consumer Index, a survey of 22,000 consumers published earlier this month. "I found a waistcoat for my dad in a charity shop in Peckham the other day – I saw it and I thought I have to get it, he's going to love it," Baker said as she browsed in a Crisis charity shop in Camberwell, south-east London. In the fourth quarter of last year, sales in UK charity shops grew by 8.6% compared the previous year, according to the Charity Retail Association. Lesley Wright, a volunteer at an Oxfam shop in Brighton, England, is gearing up for her "busiest-ever" holiday season.
Persons: Eve Williams, Dyson, Lorna Fallon, Lucy Baker, Baker, Lesley Wright, Wright, Richa Naidu, Helen Reid, Matt Scuffham, Elaine Hardcastle Organizations: eBay Inc, Oxfam, Apple, eBay, Dyson, Regent, Sustainability, Charity Retail Association, Reuters, Thomson Locations: British, London, Peckham, Camberwell, Brighton , England
SustainabilityAnd this year, many beauty sets include full-size products instead of tiny miniatures. The larger sizes make sense, “especially if you want the consumer to use a product enough so that they want to purchase it again,” said Anna Keller, a senior global beauty and personal care analyst at the market research company Mintel. Selfridges’s 2023 version was released on Sept. 22; six weeks later, the store reported, it had sold 80 percent more calendars than during the same time period in 2022. Still, for some consumers, “they feel very expected at this point,” Ms. Keller said. Strategically, she added, it’s better for brands, “to think of Advent calendars as more of a mini-sampling experience,” so they can “really tie into that idea of small, highly giftable products that either you can gift yourself or share with other people.”
Persons: , Anna Keller, , — it’s, Ms, Kendall, Keller
REUTERS/Peter Nicholls Acquire Licensing RightsNov 15 (Reuters) - Property tycoon Rene Benko-founded Signa Group's Prime unit has approached investors to seek up to 2 billion euros ($2.17 billion) in funding, Bloomberg News reported on Wednesday, citing people familiar with the matter. Signa Prime, which co-owns the Selfridges department store in London, requires 500 million euros to meet obligations this year alone and will need another 1.5 billion euros of cash in the first half of 2024, the report said. Some of the investors have turned down the request, while others are still in the early stages of assessing it, according to Bloomberg News. Thailand's largest department store owner, Central Group, on Tuesday took control of Selfridges department stores after the real estate company brought it in a deal worth $5 billion in 2021. The funding request comes as Signa faces a property crisis in Europe exacerbated by a sharp rise in rates and building costs.
Persons: Peter Nicholls, Rene Benko, Signa, Arndt Geiwitz, Angela Christy M, Devika Organizations: REUTERS, Bloomberg, Bloomberg News, Central, Thomson Locations: Oxford, London, Britain, Austria, Europe
RBI, which the person said had sharply reduced its exposure to the Signa group in recent years, declined to comment on Thursday. The European Central Bank (ECB), which supervises the banks, declined to comment. Raiffeisen Landesbank Niederoesterreich-Wien, Raiffeisen Landesbank Oberoesterreich and Erste Group are also among the banks with exposures to Signa, the person said. The other two Austrian banks declined to comment. A spokesperson for Austria's central bank said it had no concerns about the country's financial stability, when asked about Signa's financial position.
Persons: UniCredit, Signa, Rene Benko, Fitch, Landesbank, Banks, Arndt Geiwitz, Francesco Canepa, Tom Sims, Elisa Martinuzzi, Alexander Smith Organizations: Signa Group, Chrysler, Raiffeisen Bank, Bank, European Central Bank, ECB, Reuters, Erste Group, Erste, Austria's National Bank, Market Authority, Thomson Locations: VIENNA, Banks, Austria, Bank Austria, Wien
Signa founder Benko hands reins of property empire to Geiwitz
  + stars: | 2023-11-08 | by ( ) www.reuters.com   time to read: +2 min
A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. Benko, an Austrian entrepreneur and a key figure in Europe's property market for two decades, is known for high-profile purchases including New York's iconic Chrysler Building and Britain's Selfridges. Some current and former investors - themselves titans of industry - have in recent days publicly lashed out at Benko, raising questions about his future role at Signa. What is important now is to restore trust, and I want to play my part in that," Benko said in the statement. Geiwitz is best known for his role in the insolvency proceedings of Germany's Galeria Kaufhof-Karstadt department stores and drug store chain Schlecker.
Persons: Leonhard Foeger, Rene Benko, Arndt Geiwitz, Fitch, Benko, Signa, Geiwitz, Germany's Galeria, Alexandra Schwarz, Tom Sims, Matthias Williams, Kirsti Knolle, Bernadette Baum Organizations: Signa, REUTERS, Rights, Chrysler, titans, Germany's, European Central Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Austrian, Benko
King's Fine FoodLaura King has run a caviar business for almost 20 years — even supplying Britain's royal family with the coveted foodstuff. Now, she's known as the "caviar queen," and her firm King's Fine Food imports hundreds of kilos of caviar into the U.K. every two to three weeks. Oscietra caviar is the most popular product sold by King's Fine Food. Laura King (left), founder of King's Fine Food, with her daughter Holly King, the company's sales director. "We're two women in business, probably the only two women in the caviar business almost in the world.
Persons: Laura King, King, John King, Holly —, , Conran, Melba, Terence Conran, retails, , You've, you'll, I've, King's, Holly King, Mason, Queen Elizabeth II, Holly, We've Organizations: King's, CNBC, Fine Food, Harrods, Cathay Pacific, Emirates . British Airways, Foods, John King Brain, Royal Locations: London, Dorchester, British, Iran, Russia, Belgium, China
AudioStories AreRedefiningPleasure forWomen Apps like Dipsea and Quinn have become popular destinations, particularly for some women who find them safe spaces to explore their sexuality. On average, subscribers for Dipsea are women between 18 and 34, the company said, while Quinn’s are women ages 18 to 24. I s w a l l o w e d a s m a l l m o a n . ” “ H m , c o m e h e r e t h e n . ” “ G e t i t o u t o f o u r s y s t e m s .
Persons: Quinn, Liz, Sevyn, Dipsea, Bloom, , Caroline Spiegel, Evan, , ” Ms, Spiegel, Hannah Albertshauser, Michael, Albertshauser, you’re, Mal Harrison, Dominnique Karetsos, Karetsos, Dame, Gina Gutierrez, Faye Keegan, ” ‘ It’s, Liv Trexler, it’s, Trexler, “ It’s, ” Angela Sarakan, ” Olivia Taylor, that’s, , Ms, Taylor, Aisha Jordan, Jordan, Nicole Prause, Prause, Lone Wolf, Shannon Lin Organizations: Facebook, Center for Erotic Intelligence, Healthy, Group, Getty Images Locations: California, Germany, Brooklyn
LONDON, June 1 (Reuters) - Roberto Cavalli launched a "disruptive" capsule collection outside the traditional catwalk calendar on Thursday as the Italian fashion label seeks to rebrand itself after a few shaky years. Designer Fausto Puglisi looked to a 1994 print drawn by the brand's founder Roberto Cavalli, itself inspired by a rococo depiction of the Greek myth of Leda and the swan, for the "Wild Leda" line, on show at London's Selfridges department store. Previously seen in the fashion house's spring-summer 2023 line, the depiction, matched with animals prints, features on floaty dresses, beachwear, accessories and homeware. "Roberto Cavalli was always famous for obviously the gowns but... he created really a lifestyle... So you have your plates, you have your coffee cups, you have your shoes, you have your bag, you have everything.... (we thought) let's do something that is a bit larger and invites you to discover the world of Roberto Cavalli."
Persons: Roberto Cavalli, Fausto Puglisi, Leda, Sergio Azzolari, Dubai's Damac, Hussain Sajwani, Azzolari, Marie, Louise Gumuchian, Ros Russell Organizations: Reuters, Dubai's, Vision Investments, Thomson Locations: Florence, U.S, London, Milan
London Is Losing Its Crown as a Luxury Shopping Destination
  + stars: | 2023-02-11 | by ( Carol Ryan | ) www.wsj.com   time to read: 1 min
Selfridges department store in London could be missing out on a spending boom by wealthy American and Middle Eastern tourists. U.S. tourists can get a much better deal on a new Louis Vuitton handbag in Paris than in London. It is becoming a problem for the British capital and its home-grown luxury brands. The U.K. government scrapped tax-free shopping for overseas visitors at the end of 2020, arguing that the country could no longer afford to offer a perk its Treasury estimated cost the public purse £2 billion a year, worth $2.4 billion at current exchange rates. London is now the only major European shopping destination where tourists can’t get back the 20% value-added tax they pay on luxury purchases.
Dior is selling a $3,500 Advent calendar inside a wooden and cotton canvas box fashioned like its Paris boutique on Avenue Montaigne. For toddlers, Walmart sells the Baby Shark Advent Calendar, priced at $44.99. And for anglers, there's a $34.99 fishing tackle Advent calendar with life-like and color-changing soft baits at The Fishing Shop. Selfridges & Co has 128 Advent calendars priced from 4.99 to 623 pounds this season, more than double last year's offerings. The ALDI Holiday Magic Wine Advent Calendar includes 24 unique labels and 16 wine varieties from eight countries of origin for $59.99.
Supermarkets, fast food chains, gas stations, and cinemas across Britain will close on Monday. Sign up for our newsletter to receive our top stories based on your reading preferences — delivered daily to your inbox. Gas stations operated by the supermarket chains will also close, with some reopening after 5pm. KFC will also close many of its restaurants until after the funeral has taken place, it said on its website. The British Retail Consortium has published a list of chains not opening on Monday here.
Gaby Jones, 26, made her first candle in 2020 after she and her partner bought $725 of materials. Here's how Jones grew her business by scoring major department-store deals, as told to Kiera Fields. I made a basic website for "Caia Candle" on Squarespace and put the website live in June 2020. We hired our operations manager in January 2021 to oversee the London studio so I could focus on the business side of things. We want to develop deep DTC branding, so we are using the money to get content creation, paid ads, website updates, and more staff.
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