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☆ South Koreans are the world's biggest spenders on luxury goods
▼ + stars: | 2023-01-13 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Handbags displayed in a Chanel SA store window at the Avenuel department store, operated by Lotte Shopping Co Ltd., in Seoul, South Korea, on Tuesday, Dec. 14, 2021. Whether it's calf-leather Italian Prada bags or classic, checkered British Burberry trench coats, South Koreans are the world's biggest spenders on personal luxury goods per capita, Morgan Stanley said. The investment bank estimated South Korean total spending on personal luxury goods grew 24% in 2022 to $16.8 billion, or about $325 per capita. Luxury brands have also highlighted strong sales in Korea. Moncler said its revenue in South Korea "more than doubled" in the second quarter compared with before the pandemic.

☆ The Executive Who Made Winter Gear High Fashion
▼ + stars: | 2023-01-07 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

In Personal Board of Directors, top business leaders talk about the people they turn to for advice, and how those people have shaped their perspective and helped them succeed. Previous installments from the series are here. Remo Ruffini has spent the past two decades turning Moncler SpA into a buzzy high-end sportswear brand, pushing a rotating cast of designers to dream up new takes on its signature product faster than the traditional fashion calendar would allow.

☆ How 'Real Housewife' Jen Shah's fabulous life came crashing down
▼ + stars: | 2023-01-06 | by ( Stephanie Clifford | ) www.businessinsider.com time to read: +43 min

The woman wrote to the judge overseeing Shah's case that she'd had to remortgage her house, almost divorced, and "thought about ending my own life." The couple decided that he should get his degree while Jen Shah dropped out of college to work. (Shah told a judge at her 2022 plea hearing that she had been treated for "alcohol and depression" two years prior. Koa Johnson, Jen Shah's former fashion designerWhen Sharrieff Shah did participate in filming, he quickly became a fan favorite, calm and sensible. Once the show aired and Jen Shah developed a fan base, her behavior became more dramatic, Johnson said.

☆ European Luxury Shares Rise on Easing of Chinese Border Restrictions
▼ + stars: | 2022-12-27 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Chinese consumers are important for luxury-goods companies such as Hermès, LVMH and Gucci. PARIS—Shares in European luxury retailers rose Tuesday on investor hopes of renewed Chinese tourist spending after Beijing said it planned to ease pandemic-related border restrictions. Luxury goods giant LVMH Moët Hennessy Louis Vuitton SE advanced as much as 2.5% in Paris while Kering SA, owner of the Gucci and Saint Laurent brands, rose as much as 2.2% and Birkin-bag maker Hermès International SCA advanced more than 2%. In Milan, shares in Moncler SpA, Tod’s SpA and Salvatore Ferragamo SpA also rose.

☆ Winning Gifts for the Guys at the Top of Your List
▼ + stars: | 2022-12-21 | by ( Nathan Simpson | ) www.wsj.com time to read: 1 min

It’s wrapping paper season once again, and to make matters worse, you gave a great gift last year. For stressed-out shoppers, we’ve got you covered with an extensive list of the most covetable gifts from every category. The most exclusive collabs, new and noteworthy tech, genuinely useful yet luxurious home essentials and even top-shelf skin care—it’s all here. Shear WonderKeep the cold at bay in this fuzzy version of Clarks’s Originals Wallabee, designed in collaboration with the OG winter expert Moncler. 2 Moncler 1952 x Clarks wallabee shoe, $605.

☆ Gucci designer’s exit boosts Kering’s M&A urgency
▼ + stars: | 2022-11-24 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

MILAN, Nov 24 (Reuters Breakingviews) - The abrupt departure of star Gucci designer Alessandro Michele on Wednesday is putting French luxury boss François-Henri Pinault on the spot. The Italian brand, Kering’s (PRTP.PA) largest, has been a money-spinner for the 68 billion euro French conglomerate. Gucci revenue nearly trebled to 9.6 billion euros between 2014 and 2019. Reuters GraphicsFollow @LJucca on TwitterCONTEXT NEWSKering’s top brand Gucci said on Nov. 23 Creative Director Alessandro Michele had stepped down. Under Michele’s creative leadership, Gucci sales grew nearly three times from 2014 to 9.6 billion euros in 2019, one of the best performing brands in the luxury world.

A couple walk with Hermes shopping bags as they leave an Hermes store in Paris March 21, 2013. Hermes (HRMS.PA) and Pernod Ricard (PERP.PA) both said they will continue to raise prices, after beating expectations in the July-September quarter. Mainland China also saw a strong rebound after COVID-19 restrictions were lifted, although some restrictions have since been reimposed. PRICE RISESThe world's biggest luxury group LVMH (LVMH.PA) last week kicked off the earnings season with forecast-beating sales -- and no signs of a let-up in demand. The results from Pernod and Hermes bode well for beauty giant L'Oreal (OREP.PA) and Gucci-owner Kering (PRTP.PA), which both report results later on Thursday.

☆ Gwyneth Paltrow is accused of a hit-and-run on a ski slope, but the actress calls the $3.1 million lawsuit 'totally without merit'
▼ + stars: | 2019-01-30 | by ( Anjelica Oswald | ) www.businessinsider.com time to read: +3 min

Gwyneth Paltrow is being accused of a " hit-and-run ski crash." "This lawsuit is completely without merit," a representative for Paltrow told multiple news outlets, including The Washington Post and People. Tulsa's Channel 8 - KTUL/FacebookThe complaint claims the incident was a "hit-and-run ski crash" with Paltrow getting up and leaving Sanderson on the ground. Sanderson is seeking more than $3.1 million in damages from Paltrow, Christiansen, and the Deer Valley resort. According to the complaint, Sanderson suffered from "a brain injury, four broken ribs, and other serious injuries."

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