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☆ Every outfit Zendaya has worn to promote 'Challengers,' ranked
▼ + stars: | 2024-04-08 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +1 min

With styling by Law Roach, Zendaya is rocking tennis-inspired looks for the "Challengers" promo tour. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . She's been a Bulgari ambassador since 2020, and she furthered her relationship with LVMH by becoming a house brand ambassador for Louis Vuitton in 2023. She's also repeatedly turned to Louis Vuitton for her latest promo tour. This story is available exclusively to Business Insider subscribers.

Persons: Zendaya, Law Roach, —, She's, Louis Vuitton Organizations: Service, Business

☆ Gucci owner Kering tanks 14% after Asia profit warning, dragging down Europe luxury brands
▼ + stars: | 2024-03-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

A Gucci store at Harbour City shopping mall, operated by Wharf Holdings Ltd., in Hong Kong, China, on Friday, June 2, 2023. Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining Asia transactions. Kering plunged to the bottom of the Stoxx 600 after a delayed open, dragging other European luxury lines with it. Gucci comparable revenues in the first quarter are expected to be down by nearly 20% year on year." The slowdown is expected to derive primarily from Asia — and chiefly from China, whose economy has been struggling.

Persons: Gucci, Kering, Christian Dior, Hermes, Burberry Organizations: Wharf Holdings Ltd, Gucci, Asia — Locations: Harbour City, Hong Kong, China, Asia, London, Pacific

☆ The potential $2 billion sale of Selena Gomez's Rare Beauty could make her the next celebrity billionaire
▼ + stars: | 2024-03-20 | by ( Madeline Berg | ) www.businessinsider.com time to read: +7 min

Here's how Rare Beauty outdid other celebrity brands — and how it could make Gomez a billionaire. AdvertisementThere are currently at least 40 celebrity beauty brands on the market — all experiencing varying degrees of success. AdvertisementNow, Selena Gomez may be poised to join their ranks and become the next celebrity beauty billionaire. Rare Beauty is exclusively sold at Sephora — meaning a potential buyer would see plenty of room for growth. It's among the most-followed celebrity beauty brands on both Instagram and TikTok, with 7.1 million and 3.6 million followers, respectively.

Persons: Selena Gomez, Gomez, —, Hailey Beiber's Rhode, Addison, Brad Pitt's Le Domaine, Rihanna, Kim Kardashian, Kim, Anncy Rowe, Jeffrey Ten, Scott Friedman, Nikki Eslami, Pascal Le Segretain, it's, Friedman, Mehdi Mehdi, Joyce Kim, Estée Lauder, Elizabeth Taylor's, Rowe, she's, Alex Rawitz Organizations: Service, Coty, Bloomberg, Fashion, Business, Fast Company, Brand, New Theory Ventures, Nyx, L'Oréal Locations: SKKN, L'Oréal, Sephora

☆ Jeff Bezos and Bernard Arnault are worth a combined $400 billion — here are the routes they took to achieve mega-wealth
▼ + stars: | 2024-03-16 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Jeff Bezos and Bernard Arnault have a combined net worth of around $400 billion. Bezos and Arnault are the world's richest people, topping Bloomberg's Billionaires Index. AdvertisementJeff Bezos and Bernard Arnault are the world's two richest people, with a combined net worth of around $400 billion. Arnault, the owner of the luxury goods conglomerate LVMH, is ranked first on Bloomberg's Billionaires Index, with a net worth of $202 billion. Amazon founder Bezos is ranked second on the index, with a net worth of $197 billion.

Persons: Jeff Bezos, Bernard Arnault, —, Dom Pérignon, Bezos Organizations: Service, Tiffany

☆ Eva Longoria and Admiral Bill McRaven to receive $100 million Bezos Award
▼ + stars: | 2024-03-14 | by ( Jake Tapper | Ramishah Maruf | ) edition.cnn.com time to read: +3 min

In 2021, the inaugural recipients of the prize were Van Jones, a lawyer and CNN commentator, and chef José Andrés, each of whom received $100 million. They also serve as national spokespeople for the Brain Health Project, which focuses on brain health and brain performance with a concentration on veterans. Longoria, who starred in the television series “Desperate Housewives,” has focused on education and entrepreneurship in Latino communities. The Eva Longoria Foundation aims to connect Latinos and Latinas in lower-income areas with peer mentors, and Longoria has a start-up fund for Latino-owned small businesses. Bezos and Sánchez pledged $100 million to recovery efforts in Maui after the devastating wildfires in 2023, though the donation has come under scrutiny.

Persons: Jeff Bezos, Lauren Sánchez, Bill McRaven, Eva Longoria, Bernard Arnault, Van Jones, José Andrés, Dolly Parton, McRaven, “, Lauren, Jeff, ” McRaven, Longoria, ”, ” Longoria, Bezos, Warren Buffett, Melinda French Gates, Bill Gates, MacKenzie Scott, Sánchez Organizations: New, New York CNN, Amazon, University of Texas, Bloomberg, CNN, Warrior Foundation, Brain Health, “, Fund Locations: New York, Bezos, Maui

☆ A new documentary wrestles with the highlights — and lowlights — of John Galliano’s controversial career
▼ + stars: | 2024-03-12 | by ( Trey Taylor | ) edition.cnn.com time to read: +9 min

CNN —After a first intervention for the fashion house’s seismic creative director John Galliano failed, Dior’s then-CEO Sidney Toledano staged a second, more serious one. In response, as Toledano recounts in the new documentary “High & Low: John Galliano,” the then-50-year-old gym-obsessive ripped open his shirt to reveal a rippling torso and said, “Does this look like the body of an alcoholic?”And so the designer’s drinking and pill-popping rolled on. At least, “High & Low” director Kevin Macdonald, whose documentary performs a thrilling autopsy of Galliano’s career collapse, thinks so. Nicholas MatthewsUnraveling threadsAs its title suggests, “High & Low” scrutinizes the designer’s extraordinary rise and dramatic flameout. John Galliano, pictured at his home in Beauvais, France.

Persons: John Galliano, Dior’s, Sidney Toledano, Galliano, Dior, Bernard Arnault, Arnault, Toledano, ”, Perle, Hitler, ” John Galliano, France —, Dominique Charriau, decamped, Low, Kevin Macdonald, I’d, ” Macdonald, “, ’, Macdonald, Anna Wintour — Galliano’s, —, Wintour, ’ ” Macdonald, shouldn’t, I’m, John —, Nicholas Matthews Galliano, Nicholas Matthews, ” Johann Brun, John, “ John, ” Galliano, John Galliano’s, Derek Hudson, He’s, you’d, John then, Tim Blanks, Cecil B, DeMille, Kate Moss, Jamie Hince, Oscar de la, Maison, Pat McGrath, Galliano’s, it’s Organizations: CNN, Paris Fashion, Couture, Rodin, Dior, Hulton Locations: Paris, France, Scottish, Couture, Beauvais

☆ The ‘Sephora kid’ trend shows tweens are psyched about skincare. But their overzealous approach is raising concerns
▼ + stars: | 2024-03-12 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +9 min

Tweens gravitate to Sephora and Ulta for the same reason that adult shoppers do. Carlo Allegri/ReutersThe retinol products sold in beauty products stores, she said, are for mature skin of older consumers. The beauty products chain also operates several hundred smaller format Sephora stores inside of Kohl’s department stores. Jennifer O’Brien celebrated her twin daughters’ 12th birthday at an event held at a Sephora store in Long Island, New York. Jennifer O’Brien's treated her twin daughters to a skincare event for their birthday this year at a Sephora store.

Persons: New York CNN — Tweens, skincare, ”, Lauren Penzi, gravitate, “, Stacey Tull, Tull, “ Retinol, it’s, Carlo Allegri, Penzi, she’s, Ulta, tweens, She’s, ” Penzi, Moët Hennessy Louis Vuitton, Jennifer O’Brien, Jennifer O’Brien Ulta, O’Brien, Stanley, JC Penney, Jennifer O’Brien's, Jennifer O’Brien “, Gen Alpha, Sheryl Jorgensen Masowdi’s tween, Sheryl Jorgensen Masowdi, Masowdi Organizations: New, New York CNN, Gen Alpha, CNN, influencers, ”, Gen Locations: New York, Sephora, New York City, Missouri, Manhattan, United States, Long Island , New York

☆ Sephora's success shows that people still want to treat themselves during tough economic times
▼ + stars: | 2024-03-09 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +2 min

Sephora's CEO said the company had benefited from the "lipstick effect," The FT reported. Sephora's CEO, Guillaume Motte, told The FT that its sales success, which is highlighted in LVMH's 2023 annual results, benefited from the "lipstick effect." In-store sales have driven Sephora's recent growth, Motte told The FT. In the annual results report, Arnault linked the company's growth to the "ever-growing popularity of Sephora's store concept worldwide." The US is Sephora's biggest market and "we are gaining market share there like crazy," Motte told The FT. Across North America, Sephora reached $10 billion in revenue in 2023.

Persons: LVMH, —, Guillaume Motte, Alpha, Gen Zers, Motte, Bernard Arnault, Jeff Bezos, Arnault, Sephora Organizations: Service, FT Locations: North America

☆ Jim Cramer reviews Citi's European 'Super Seven'
▼ + stars: | 2024-03-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Friday reviewed the "Super Seven," mega cap European stocks Citi recently named as alternatives to the Magnificent Seven, but with lower valuations. "I want you to think of the Super Seven as a shopping list of high-quality European stocks that could be very attractive on a pullback," he said. Novo Nordisk " came out with the original GLP-1, diabetes and weight loss drug Ozempic. Richemont SAP Schneider Electric Eaton Ferrari"As great as the Super Seven may be, you're not exactly early to any of these stories — most of these stocks are trading at or near their all-time highs," Cramer said. "Of course, you could say the same thing about the Magnificent Seven, but it makes me a little queasy to recommend something that's already had a huge run."

Persons: CNBC's Jim Cramer, Beata Manthey, Bullish, Dior, SAP Schneider Electric Eaton, Cramer, that's Organizations: Citi, Nordisk, Givenchy, SAP Schneider Electric

☆ Tesla's value has slumped by $234 billion this year — that's more than McDonald's, Disney, or Nike are worth
▼ + stars: | 2024-03-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Tesla's market value has tumbled $234 billion this year, or more than McDonald's or Disney are worth. Elon Musk's EV maker is close to losing more value than Netflix or Coke's entire market caps. AdvertisementTesla's market value has plunged by an astounding $234 billion this year — that's considerably more than McDonald's ($212 billion), Disney ($202 billion), and Cisco ($199 billion) are worth. That decline is close to the entire market caps of Netflix ($259 billion) and Coca-Cola ($257 billion), and larger than the entire market value of American Express ($158 billion) and Nike ($148 billion). It's also worth noting that Tesla is still worth more than 10 times the value of either General Motors ($46 billion) or Ford ($49 billion).

Persons: —, It's, He's, LVMH's Bernard Arnault, Jeff Bezos, Tesla, Musk, hasn't, Ross Gerber Organizations: Elon Musk's, Netflix, Service, Disney, Cisco, American Express, Nike, FedEx, Bloomberg, Motors, Ford Locations: China

☆ Elon Musk's wealth is down by almost $40 billion this year — and it's only March
▼ + stars: | 2024-03-07 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

The Tesla CEO's wealth has dropped by almost $40 billion since the start of 2024. The EV maker's sagging stock price has taken its toll on Musk's net worth. The Tesla CEO's net worth has plunged by almost $40 billion this year, according to the Bloomberg Billionaires Index. AdvertisementThe LVMH chief is worth $197 billion, $1 billion more than Bezos, after adding $18 billion to his worth this year. Most of Musk's wealth comes from his 21% stake in the EV maker.

Persons: Elon, —, Jeff Bezos, He's, Bernard Arnault, it's, Arnault, Musk Organizations: Service, Tesla, Bloomberg Locations: China, Delaware

☆ Jeff Bezos only lasted a few days as the world's richest person — now it's Bernard Arnault again
▼ + stars: | 2024-03-07 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +1 min

Bernard Arnault is the CEO and founder of the luxury conglomerate LVMH. He currently has a fortune of $197 billion making him the world's richest person. The title often bounces between Arnault, Amazon founder Jeff Bezos, and Tesla CEO Elon Musk. AdvertisementBernard Arnault, CEO of LVMH, has once again become the world's richest person with a fortune of $197 billion, snagging the title from Jeff Bezos. As of Thursday, his fortune has been eclipsed by Arnault by only $1 billion, according to Bloomberg's Billionaire Index.

Persons: Bernard Arnault, Jeff Bezos, Elon Musk, — Organizations: Amazon, Tesla, Service, Arnault

☆ Hugo Boss plunges 18% on pessimistic sales outlook in worst day since 2016
▼ + stars: | 2024-03-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Façade and window displays of the Boss store by Hugo Boss, in the Salamanca district, on 25 February, 2023 in Madrid, Spain. Shares of Hugo Boss plunged 18%, before paring losses slightly Thursday, after warning that it may fail to meet its 2025 sales target amid weakening consumer demand. CEO Daniel Grieder told CNBC on Thursday that 2023 was a "record year," but signaled more modest growth of 3% to 6% in 2024. He added that the company's ambition to reach 5 billion euros in sales — originally etched for 2025 — may be "slightly delayed." However, Grieder said Hugo Boss, known for fashion apparel and fragrances, was well positioned as an "affordable luxury" brand that can offer pricing flexibility without compromising margins.

Persons: Hugo Boss, Daniel Grieder, —, Grieder Organizations: CNBC, Burberry Locations: Salamanca, Madrid, Spain

☆ Jeff Bezos surpasses Elon Musk to retake the world's richest person crown with a $200 billion fortune
▼ + stars: | 2024-03-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Jeff Bezos has surpassed Elon Musk to once again become the world's richest person. AdvertisementWith a $200 billion fortune, Amazon founder Jeff Bezos has surpassed Elon Musk to once again become the world's richest person. Musk has lost $31 billion in wealth so far this year to a total net worth of $198 billion as of Monday. Musk's wealth is derived from his $77 billion stake in Tesla, as well as his $71 billion stake in SpaceX. The top five richest person ranking is rounded out by Mark Zuckerberg, who has a $179 billion net worth, and Bill Gates, who has a $150 billion net worth.

Persons: Jeff Bezos, Elon Musk, Bezos, Musk, Bernard Arnault, Mark Zuckerberg, Bill Gates Organizations: Bloomberg, SpaceX, The Locations: Amazon

☆ Jeff Bezos is once again the world's richest person thanks to the Big Tech rally
▼ + stars: | 2024-03-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Jeff Bezos just reclaimed his title as the world's richest person. AdvertisementIt's been more than two years since Amazon founder Jeff Bezos was the world's richest person, but he's now back in the lead again. Bezos reclaimed the top spot after a sustained rally in Big Tech shares on the back of the artificial intelligence boom. The last time Bezos was the world's richest person was in 2021. Bezos first surpassed Microsoft cofounder Bill Gates as the world's richest person in 2017.

Persons: Jeff Bezos, Elon Musk, —, It's, he's, Bezos, Musk, Bill Gates, Bernard Arnault, LVMH Moet Hennessy Louis Vuitton Organizations: Big Tech, Bloomberg, Service, Amazon, Bezos, Origin, Microsoft, EV maker's Locations: China

☆ The Juggernaut promised to revolutionize South Asian news. But insiders say the company's founder misled investors, struggled to raise money, and left workers 'heartbroken.'
▼ + stars: | 2024-03-05 | by ( Katie Warren | ) www.businessinsider.com time to read: +33 min

They were gathered for the inaugural summit of The Juggernaut, a digital South Asian news startup that launched in 2019. The Juggernaut spokesperson told BI that "multiple employees have equity in the company," but BI was unable to identify any such employees. "Twenty years ago, you might've struggled to mention a South Asian actor that you've seen in a movie," he said. As of January, the site had about 10,500 subscribers, Sur told investors in an email viewed by BI. Some feel that the publication has strayed from its mission of delivering "untold, smart South Asian stories and news you won't find anywhere else."

Persons: —, Richa Moorjani, Manish Chandra, Anish Melwani, Sadiq Khan, Amitav Ghosh, Roy Rochlin, Jay Bhattacharya, didn't, Sur, Padma Lakshmi, Moorjani, Mira Nair, Oprah Winfrey, she'd, who've, Josh Benson, Bhattacharya, might've, you've, Dev Patel, Priyanka Chopra, Black millennials, Bhattacharya's, Adam Hansmann, Kevin Lin, Albert Ni, Charles Hudson, Steve Jennings, Sur's, Kyle Stanford, Axios, Stanford, Snigdha, Winfrey, MICHAEL TRAN, hadn't, wouldn't, Fariha Róisín, Meghna Rao, Róisín, Rao, Rao didn't, they'd, she's, it's, Hudson, who'd, Reetu Gupta, Aditi Shah, Sean Gupta, Steven Simione, would've, we're, Brian Morrissey, Morrissey, cofounders, Narendra Modi's, Sneha Mehta Organizations: Spring Studios, Netflix, Business, New Yorker, Harvard Business School, Guardian, American, Old Town Media, Athletic, BI, Indian, Yale, McKinsey, Precursor Ventures, Forbes, Getty, TechCrunch, YouTube's Sustainability, YouTube, Paramount Pictures Studios, Immigration Services, Stanford, Digiday, Gannett Locations: York City, chai, Jean's, hasn't, Sur, New York City, South, Asian, India, Madhya Pradesh, Queens, Sur texted, Indian American, AFP, Róisín, Los Angeles , California, South Asia, Silicon

☆ Jeff Bezos dethrones Elon Musk to become the richest person on earth again
▼ + stars: | 2024-03-04 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Jeff Bezos has reclaimed the title of the richest person on earth, surpassing Elon Musk, according to the Bloomberg Billionaires Index on Monday. The Amazon founder’s net worth was $200 billion, while Musk followed at $198 billion. Musk has lost about $31 billion over the past year, while Bezos has gained $23 billion, according to the index. The three centibillionaires — Musk, Arnault and Bezos — have been in competition with each other for the top spot for months. Of course, the title of the richest person on earth swaps every few months, depending on markets performance.

Persons: Jeff Bezos, Elon, Musk, Bezos, Bernard Arnault, Louis Vuitton, Dior, Celine, Arnault, Michelle Toh, Tami Luhby, Chris Isidore Organizations: New, New York CNN, Bloomberg Locations: New York, Delaware

☆ Citi names 'Super 7' global stocks similar to the Magnificent 7 — but cheaper
▼ + stars: | 2024-03-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Citi has identified European stocks it says are similar to the high-flying " Magnificent Seven " U.S. technology stocks, but trade at cheaper valuations leaving more room for them to rise. Citi's resulting Super Seven picks are Novo Nordisk , ASML , LVMH , SAP , Schneider Electric , Richemont and Ferrari . All of the stocks stocks also trade in the United States. Despite the rally over the past year, Citi points out that as a group, the Super Seven have lagged the Magnificent Seven, with 70% less appreciation since early 2023, leaving more upside potential. Looking ahead, Citi said the Super Seven was well positioned to continue outperforming should current "narrow" market conditions persist, and cautioned against selling stocks on the basis of a narrow market leadership.

Persons: Beata M, — CNBC's Charlotte Reed Organizations: Citi, Nvidia, Apple, Microsoft, Meta, Novo Nordisk, ASML, SAP, Schneider, Ferrari Locations: Europe, LVMH, United States

☆ European markets set for gains ahead of euro zone inflation data
▼ + stars: | 2024-03-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A TV presenter gets ready for the daily reporting from the floor of the German share price index DAX at the stock exchange in Frankfurt, Germany, November 15, 2023. LONDON — European markets are set to open higher on Friday to start the new trading month after a winning February, with euro zone inflation data due mid-morning. The European stock index notched an all-time high last month, powered by the 11 GRANOLAS large-cap stocks that made up half of the gains across the entire Stoxx 600. Focus will turn Friday to February's flash euro zone inflation reading, expected at 10 a.m. London time, with economists in a Reuters poll predicting the consumer price index rose 2.5% year on year, down from 2.8% in January. German consumer price inflation on Thursday came in line with forecasts at 2.7% year on year.

Persons: DAX Organizations: LONDON, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Focus, European Central Bank, ECB, Fed Locations: Frankfurt, Germany, London

☆ Meet the ‘Granolas,’ Europe’s answer to the Magnificent 7 stocks
▼ + stars: | 2024-02-27 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The Magnificent 7 tech stocks have been a big part of the extraordinary US market rally. But there’s a rival group of companies powering European stocks to new heights with even better returns, by some measures. Dubbed the “Granolas,” those 11 companies accounted for 60% of the gains on Europe’s benchmark stock index over the past 12 months. They have even slightly outperformed the Magnificent 7 over a longer period, according to Goldman Sachs. Their standout performance has “raised the issue of concentration effects” in the region’s stock market, says Philip Lawlor, managing director of markets research at Wilshire Indexes.

Persons: London CNN —, Goldman Sachs, ASML, ” Goldman Sachs, Goldman Sachs, Guillaume Jaisson, Ozempic, ‘, Philip Lawlor, ” Lawlor Organizations: London CNN, GSK, Roche, Novartis, Novo Nordisk, L’Oréal, AstraZeneca, SAP, Sanofi, “, CNN, Danish, Wilshire Indexes, —, Deutsche Bank Locations: LVMH, Europe, France, Germany, Denmark, Switzerland, Netherlands, United Kingdom, United States

☆ The 11 GRANOLAS stocks power Europe to record highs, drawing Magnificent Seven comparisons
▼ + stars: | 2024-02-27 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 19, 2024. Staff | ReutersOver the last 12 months, just 11 stocks made up half of the gains that powered the pan-European Stoxx 600 stock index to a record-high close on Friday. "From a Global point of view, the GRANOLAS have even outperformed the so-called Magnificent 7 over the past two years. Their (out)performance is even more impressive on a risk-adjusted basis: with a volatility 2x lower than for the Magnificent 7, the GRANOLAS help to boost the Sharpe ratio." "This suggests that, in Europe, nearly all revenue growth of the STOXX 600 will come from the GRANOLAS.

Persons: Goldman Sachs, Sanofi —, Goldman, Tim Hayes, Ned Davis, Hayes Organizations: Staff, Reuters, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Street, Ned, Ned Davis Research, CNBC Locations: Frankfurt, Germany, Europe

☆ How Hermes Became the Ultimate Status Symbol
▼ + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "The curse of retail is everyone chases more," Simeon Siegel, a senior retail analyst at BMO Capital Markets, told Business Insider about luxury brands. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.

Persons: Hermès, Louis Vuitton, LVMH, Kering's, hasn't, it's, Axel Dumas, Simeon Siegel, Siegel, Birkin, —, waitlists, Edward Berthelot, there's, Hitha Herzog, Nicole Pollard Bayme, Kelly, Versace, Herzog, Gucci, Saint Laurent, Bernstein, Luca Solca, Chanel, Solca, Winston Chesterfield, Barton, That's, Williamsburg , Brooklyn —, Axel, Pierre, Alexis Dumas —, Bernard Arnault's LVMH, Dumas, Barton's Chesterfield, They've, Cousins Axel Dumas, Alexis Dumas, Rodrigo Vaz, Thierry Hermès, they've, We're Organizations: BMO Capital Markets, Capri Holdings, North, Gucci Locations: Hermès, London, China, France, Louviers, Ardennes, New Aquitaine, Aspen , Colorado, Naples, Florida, Nanjing, Princeton , New Jersey, Williamsburg , Brooklyn

☆ How Hermès became the ultimate status symbol
▼ + stars: | 2024-02-24 | by ( Madeline Berg | ) www.businessinsider.com time to read: +11 min

A cashmere throw blanket splashed with the letter H. For years, Hermès' iconic products have been coveted by those in the know. Now, its shares are also hot commodities, with their performance outpacing bigger luxury brands like Louis Vuitton owner LVMH and Gucci-maker Kering. "Brand equity is much more diluted than Hermès'," Herzog said of brands like Gucci and Louis Vuitton. Hermès is 'fairly recession-proof'Keeping it simple has helped Hermès hold its own as luxury brands start to lose their shine after a multiyear spending boom. It also announced it will expand the Saint Junien facility in New Aquitaine (also France) which makes Kelly and Birkin bags.

☆ Here's why investors should stop worrying so much about concentration risk in the market
▼ + stars: | 2024-02-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The World(MSCI All Country World Index weighting)Entire U.S. stock market: 63%Japan, UK, Canada, France, Hong Kong/China combined: 17.5%Magnificent 7: 17%Source: Dimensional FundsThat seems crazy, no? For example, in the mid-1960s the concentration of the top 10 was over 40% of the S&P 500. Investors who own the S&P 500 don't have to pick those winners; they just go along for the ride. Second, U.S. stocks are global market leaders, and when a small group becomes market leaders it almost always means the U.S. stock market outperforms the world. The U.S. stock market, which was roughly 40% of the global market capitalization a short while ago, is now roughly 50% of global market capitalization.

Persons: Gregory Rowe, Berkshire Hathaway, Lilly, It's, — Organizations: New York Stock Exchange, Berkshire, Broadcom, Nvidia, Eck Semiconductor, Dimensional Fund Advisors, FS Investments, IBM, American Express, General Electric, Polaroid, Xerox, U.S, Baidu, SAP, Siemens, United, Shell, AstraZeneca, HSBC Locations: New York City, Miami Beach, Japan, UK, Canada, France, Hong Kong, China, U.S, Germany, United Kingdom

Fran Horowitz, Abercrombie & Fitch CEO: The future of retail is small, efficient, omni stores, and they're located where the customer tells us. I get really, really excited about what this means in the operations of the business, using predictive analytics to help us forecast demand. They're worldwide, a zillion stores, and their operations and execution, aside from their merchandising, I think they're always on top of the game. I think you're going to see an interaction with someone in a setting that doesn't look like retail, but looks like a fantastic experience. Nicholas of Sam's Club: Another retail standard that is really going to be important beyond the customer is energy.

Persons: Christina Locopo, Fran Horowitz, Abercrombie, Patrick MacLeod, WWD, Michelle Gass, Levi Strauss, they're, Jens Grede, Geoffroy van Raemdonck, Neiman Marcus, there'll, Trina, Patrick T, Fallon, Chris Nicholas, Kara Trent, Levi's Gass, Tom Ward, Erin Black, CNBC Abercrombie's Horowitz, Marc Lore, Mickey Drexler, TikTok, Adam Jeffery, Dave Kimbell, It's, Scott Mlyn, CNBC Neiman's van, you've, Yael Cosset, —, Ulta's, Arturo Holmes, Trent, That's, we've, Kroger's, Abercrombie's Horowitz, I've, Dia Dipasupil, Neiman's van, who's, Lulu, Drexler, Armour's, Dior, Louis Vuitton, Hermes, Armour Levi's Gass, Emma Grede, Kardashian, Kim, Geoffroy van Raemdonck Patrick Mckleod, Nicholas of Organizations: CNBC, Abercrombie, Fitch, Abercrombie & Fitch Co, Penske Media, Getty, Milken Institute Global Conference, AFP, Sam's, Technology, Walmart U.S, Walmart, New York Times, Navy, WWD, Young, Nike, TJX, Zara, Armour's Trent, Americas, Nicholas of Sam's, Sam's Club Locations: they're, Beverly Hills , California, New York City, America, New York, U.S, Skims, Inditex, Kara, Walmart's

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