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LVMH reported its first-quarter sales surged 17% from a year ago, beating analyst expectations, driven by a rebound in China’s luxury market from the downturn it experienced during the pandemic. Luxury goods spending bounced back more quickly than any other sector in the first quarter. Although the economic momentum has lost steam in the past couple of months, growth in luxury goods sales has accelerated. China was one of the world’s largest luxury goods markets before Covid hit. Bain & Co. estimated earlier this year that Chinese consumer spending accounted for around 17% of the global luxury market in 2022.
Persons: Hong Kong CNN — Bernard Arnault, Elon Musk, Morgan, Jamie Dimon, Musk, Caijing, Christian Dior, LVMH didn’t, LVMH, , Jean, Jacques Guiony, , Li Qiang, ” Li Organizations: Hong Kong CNN, LVMH, WF, CNN, Consumers, Bain & Co Locations: Hong Kong, China, Beijing, ” Beijing
When she signed her first brand partnership as a part-time content creator in 2016, it was an unpaid brand ambassadorship, she told Insider. Fast-forward six years and Cortes is a full-time influencer and earned more than $300,000 in a year — with under 50,000 Instagram followers. Most of that revenue came from brand deals, she told Insider. And Instagram itself is getting in on the action with a new creator-brand marketplace where partnerships can be made through DMs. Christian Di Bratto, a talent manager who works with creators, told Insider that personalizing pitches is key.
Persons: Emma Cortes, Cortes, JaLisa Vaughn, Jefferson, Marrica Evans, influencers, Instagram, Dunkin, here's, Julie Tescon, Di Bratto, Kayla Compton Organizations: Nissan, Karma, LinkedIn, DMs, Instagram
When she signed her first brand partnership as a part-time content creator in 2016, it was an unpaid brand ambassadorship, she told Insider. Fast-forward six years and Cortes is a full-time influencer and earned more than $300,000 in a year — with under 50,000 Instagram followers. Some brands, like Dunkin Donuts or jewelry brand Mejuri, are known for their partnerships with micro influencers. Read: 7 top brands that work with micro influencers on Instagram, TikTok, and moreTo help content creators better understand how they can get sponsored on Instagram, here's a compilation of our coverage of how influencers get brand deals. Christian Di Bratto, a talent manager who works with creators, told Insider that personalizing pitches is key.
Persons: Emma Cortes, Cortes, JaLisa Vaughn, Jefferson, Marrica Evans, influencers, Instagram, Dunkin, here's, Julie Tescon, Di Bratto, Kayla Compton Organizations: Nissan, Karma, LinkedIn, DMs, Instagram
The Department of Justice announced Wednesday that it has recently charged 78 people with $2.5 billion in separate health-care fraud and opioid abuse schemes. The defendants allegedly defrauded programs used to take care of elderly and disabled people, and in some cases used the ill-gotten money to buy exotic cars, jewelry, and yachts, the DOJ said. Among those charged are 11 defendants accused of submitting $2 billion in fraudulent claims through telemedicine, as well as 10 defendants charged in connection with fraudulent prescription drug claims. In all, prosecutors filed charges against people in 16 states in cases that were lodged or unsealed in the past two weeks as part of the coordinated crackdown. In the scheme cited by Garland, executives of supposed software and services companies submitted $1.9 billion in fraudulent claims to Medicare for items that were not eligible for reimbursement, according to the DOJ.
Persons: General Merrick Garland, Garland, Brett Blackman, Gregory Schreck, Johnson, Gary Cox Organizations: of Justice, DOJ, Justice Department, Southern, Southern District of Locations: telemedicine, Johnson County , Kansas, Maricopa County , Arizona, U.S, Southern District, Southern District of Florida
As they got to know one another — “It was a little awkward because I’d been looking at him for six months,” Mr. Bittar said — Mr. Bittar explained that he was a single father. Mr. Bittar, who is gregarious and vocal, grew up in Bay Ridge, Brooklyn. His father, Robert Bittar, is of Syrian descent and his late mother, Helen Bittar, was of Irish-Catholic descent; both were professors. Mr. Bittar began selling jewelry on the streets of downtown Manhattan as a scrappy teenager. “The differences are so obvious it’s kind of ridiculous,” said Todd Parmley, a software company executive who has known Mr. Bittar for more than two decades.
Persons: Miner, Charlie, ” Mr, Bittar, Mr, , , Robert Bittar, Helen Bittar, Charles Miner III, Claire Miner, , Todd Parmley Organizations: East, Bucknell University Locations: Bay Ridge , Brooklyn, Manhattan, Connecticut, Darien, Fairfield
57,000-year-old engravings on the walls of a French cave may have been the work of Neanderthals. The oldest Neanderthal cave engravingsThe markings are made up of lines, squiggles, and dots, likely made by fingers instead of tools. On the left are some curved lines and on the right are more wavy lines that researchers say were made by Neanderthals. Tim Schoon, University of IowaThough early researchers considered Neanderthals less advanced than humans, more recent findings have complicated that view. In 2018, researchers estimated a group of Spanish cave paintings were 65,000 years old and made by Neanderthals.
Persons: , Claude Marquet, Shara Bailey, Homo sapiens, would've, Tim Schoon, It's, Bailey, sapiens, Cotard, lithics, La Organizations: Service, ONE, University of Tours, New York University, La Roche, University of Iowa Locations: France, La, Europe, Western Europe
WHEN YOU think “fitness tracker,” you probably imagine a bulky watch. But since the 2015 release of the Oura smart ring, similar devices intended to pass as jewelry have been robustly collecting sleep and activity data. Given that such rings cost about the same as smartwatches like the Apple Watch SE or Garmin Vivoactive 4S, but are more discreet, it’s no surprise that a glut of new rings has emerged.
Organizations: Apple, Garmin
Diamond prices are down 18% from their all-time highs in February 2022, and are lower 6.5% year-to-date, according to one Global Rough Diamond Price Index. "A slightly better-than-average-quality 1-carat natural diamond was $6,700 a year ago, today this same diamond is selling for $5,300," Paul Zimnisky, the CEO of Paul Zimnisky Diamond Analytics, told CNBC. And when the economy started opening up again, diamond prices started moderating, and slid into a "steep decline," he added. said 29-year-old Singaporean Jonathan Lok, who proposed to his fiancée with a 0.76 carat lab-grown diamond ring late last year. The lab-grown diamond industry, which is energy-intensive, have also been seeing soaring energy costs taper off from its peak.
Persons: Diamond, Yuriko Nakao, Nakao, they're, Paul Zimnisky, Leon Neal, Daga, Jonathan Lok, Edahn Golan, Monirul Bhuiyan Organizations: Getty, Analytics, CNBC, Consumers, Bain & Company, Afp, Bloomberg, Edahn, Edahn Golan Diamond Research &, Labor, Sanctions Locations: Antwerp, Belgium, Harrods, London, Paris, France, Jwaneng, Botswana
What is a pawn shop loan?
  + stars: | 2023-06-22 | by ( Kate Underwood | Richard Richtmyer | Read More | ) www.businessinsider.com   time to read: +13 min
The average pawn shop loan in the US is about $150, according to the National Pawnbrokers Association. Due to the nature of pawn loans, it's common for borrowers to roll over their pawn shop loan or take out a new one. For example, Castle Jewelry and Pawn of Richmond, Kentucky states that they charge 20% interest on their pawn shop loans. In a situation where you require immediate cash but don't fit the qualifications for a traditional short-term loan, a pawn shop loan might be appropriate. Pawn shop loan FAQsCan I get a pawn shop loan with bad credit?
Persons: , you'll, You'd, They're, you've, you'd, Bernstein, Jorey Bernstein Organizations: Service, U.S . Department of, National Pawnbrokers Association, Consumer Financial Protection Bureau, Chevron, Bernstein Investment Consultants Locations: Virginia Beach , Virginia, Richmond , Kentucky
TikTok is testing a new shopping section in the UK version of its app called Trendy Beat. TikTok may be preparing to sell its own products in the US, per a new trademark application filed by a subsidiary of its parent company ByteDance. It filed a trademark application in the US for Trendy Beat on May 30, listing mostly apparel items such as clothing, bathing suits, and footwear as goods associated with the mark. A spokesperson for TikTok told Insider product selections for its Trendy Beat feature may be informed by popular trends on the platform like #TikTokMadeMeBuyIt. It's turned to the UK and Indonesia to test e-commerce features first.
Persons: TikTok's, Patrick Nommensen, TikTok, It's, Nommensen, Marta Biino, Emma Cosgrove Organizations: Financial Times, Beat, YouTube Locations: Indonesia, Asia
Gold flat as markets await Powell's testimony for rate cues
  + stars: | 2023-06-21 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices moved in a tight range on Wednesday after two-straight sessions of declines, as investors refrained from making large bets ahead of U.S. Federal Reserve Chairman Jerome Powell's congressional testimony. Spot gold held its ground at $1,936.03 per ounce by 0504 GMT. In this light, Chairman Powell's testimony could have a major short-term impact on the market," said Clifford Bennett, chief economist at ACY Securities. "For the moment gold is under the great interest rate threat hammer, but the very real on-going strong jewelry and manufacturing demand should eventually win the day," Bennett added. Among other precious metals, spot silver fell 0.4% to $23.0973 per ounce, platinum shed 0.6% to $957.16, and palladium lost 0.3% to $1,375.37.
Persons: Jerome, Powell's, Clifford Bennett, Powell, Bennett, Michael Langford Organizations: U.S . Federal, ACY Securities, U.S . House Financial, Federal Reserve, Traders, U.S ., Scorpion Minerals Locations: U.S, Washington, Asia
In 7 Great Cities, 7 Great Walks
  + stars: | 2023-06-19 | by ( Christine Chitnis | The New York Times | ) www.nytimes.com   time to read: +32 min
Urban Walks In 7 Great Cities, 7 Great Walks The pleasures of strolling through an urban landscape are manifest. Credit... Joann Pai for The New York Times Its organically styled bouquets feel as though they’ve been freshly picked from the garden. Credit... Joann Pai for The New York Times Image Astier de Villatte specializes in antiques and tableware. Three quarters of a mile into the walk, you’ll be standing atop the first of three mountains, the 1,100-foot-high Inwangsan. Credit... Petrina Tinslay for The New York Times Few cities are so abundant with forest-like parks, coastal walks and beaches as Sydney, which is best explored on foot.
Persons: Joann Pai, Sandra Sigman, , Sigman, de Mars, you’ll, Dominique, Boulangerie Laurent B, Bellechasse, Germain, Bac, Pierre Hermé, monsieur, Le, Rue de Babylone, Sèvres, Rue de l’Abbaye, de Furstemberg, Furstemberg, they’ve, Tournon —, Villatte, Queen Marie de ’, Palazzo Pitti, Fna, Imane, , Rue Riad Zeitoun, Rue Djane Ben Chegra, Rue Laarassi, darija, Rue Sidi Boulabada, Rue Bab Ahmad, Rue Bin Lafnadek, Michael Park, it’s, Earl Grey scones, Hadid, Petrina, It’s, Strickland, Carlos Drummond de Andrade, Ian Cheibub, Ayrton Senna, touristy, Clarice Lispector, altinha, Tom Jobim, toting Tom Jobim, Osório, Rua Vinícius de Moraes Organizations: Shops, Jardin de, The New York, Rue Saint, Mars, ., The New York Times, des Invalides, Saint, Blvd . Saint, Rue de, Rue du, Rue de Rennes, de, Compagnie Française, Français, du, Palazzo, Credit, Rue Riad, des, Rue Bahia Bab, Moors, Jewish, Rue, Rue Sidi, Tachenbacht, Rue Bin, Wall ., Korean, South Korean, Milk, Nielsen, New, Opera, Milk Beach, Gibsons, Reserve, South, Heritage, Hornby, Fort, Francisco, Rua Locations: Cities, Paris, Seoul, Marrakesh, Jardin, Jardin de Luxembourg, Rue, Esplanade des Invalides, Blvd, Raspail, bac, Rue de Bac, Bac, Rue de Babylone, Seine, Astier, Français ., du Luxembourg, Italian, Florence, medina, Moroccan, Central Park, Jemaa, ., El, unburied, El Badi, Spain, Marrakesh ., darija —, Marrakesh enfolds, Morocco, Naksan Park, Gyeongbokgung, Scoff, Inwangsan, Seongbuk district, Dongdamun, Sydney, Hermitage, Bayview Hill, Vaucluse, Watsons, Queens Beach, . Credit, Bayview, Fort Denison, Sydney Harbour’s, Milk, Camp Cove . Credit, Parsley Bay, Hopetoun, Palmerston, Moreton, Camp Cove Beach, Mosman, Balgowlah, Manly, Bay, Watsons Bay, de Janeiro, Copacabana, Rio de Janeiro, Brazilian, Ipanema, Rio, Beach . Credit, Italy, Copacabana Beach . Credit, de, Leme, Fort Copacabana, Arpoador, Vero, Polis Sucos, Polis
Evangelina Petrakis is a designer, a social-media influencer, and the founder of EP Jewels. She's made more than $1 million in sales in less than two years to her followers across platforms. I had loved jewelry since I was a little girl, so in 2021, I made the switch and started marketing my own designs under a new name: EP Jewels. Since starting the jewelry business, I've recorded $1 million in sales. I've stayed close to my niche by not creating TikTok videos that aren't relevant to me, such as TikTok dances.
Persons: She's, , Evangelina Petrakis, I've, Mannino, Jordyn Mannino, Mike, I'm, Lauryn Haas Organizations: Service, Amazon, lhaas Locations: York, New York, inauthenticity
The brand behind the viral Big Red Boots is releasing a tiny handbag 'smaller than a grain of salt.' MSCHF's Microscopic Handbag is bright green and modeled on a Louis Vuitton handbag. MSCHF, a New York-based art advertising collective, said it's exhibiting a tiny handbag at Pharrell William's auction house JOOPITER in Paris from June 20 to 24. MSCHF's Microscopic Handbag under a microscope. "Microscopic Handbag takes this to its full logical conclusion.
Persons: Louis Vuitton, , Boots, Pharrell William's, Kevin Wiesner, MSCHF, Weisner, Lil Nas, Gabriel Whaley Organizations: Service, Louis, Louis Vuitton Monogram, New York Times, Times, Red Locations: New York, Paris
Many retailers are still drawing down inventories now as peak season for orders begins. Based on the concerns about cutbacks by consumers, 77% of all items being ordered this holiday season are middle-price point items, including jackets. Traditionally, retail sector orders for peak season items are placed in late winter, or early spring. Trucking, ground, rail profit hits For ground logistical firms, rail companies, and short-haul trucking, moving holiday products during peak season is a lucrative and critical time of year for making money. The largest subgroup of survey respondents who predict placing higher freight orders (42%) pegged the increase in a range of 6%-10%.
Persons: Patrick T, Cleary, Stephen Lamar, Jon Gold Organizations: Fallon, Bloomberg, Getty, CNBC Supply Chain Survey, Target, Walmart, CNBC, American Apparel & Footwear Association, American Footwear and Apparel Association, National Retail Federation, Council of Supply Chain Management, United National Consumer Suppliers, CNBC Fed Survey, Wall Street, Survey, Retailers, Chain, Labor Locations: West Coast, West
It’s about faith and family – a love story between a mother named Khadija and a son born as Karim, now known worldwide as French. “It’s based on letting people know you’re going to lose more than you’re going to win. In the new documentary "For Khadija," French Montana opens up about the sacrifices his mother, pictured here, made on behalf of her sons. Khadija kisses her son French Montana on the forehead, in an image from "For Khadija." For more, watch African Voices Changemakers on CNN International in July to see the full feature with French Montana.
Persons: Khadija, Karim, Mandon Lovette, Sean “ Diddy ” Combs, Drake, Robert De Niro, , , CNN’s Larry Madowo, “ It’s, You’re, Jobs, French’s, Bryant Robinson, that’s, ” Khadija, French Montana, Max B, Swae Lee, , , Sean, Diddy, Combs, Matt Winkelmeyer, French, Morocco that’s, Adam Levine, Africa …, , That’s, ” CNN’s Earl Nurse Organizations: CNN, Tribeca, Bad Boy Records, Maybach Music, CNN International Locations: Montana, New York City, Morocco, America, New York’s South Bronx, Los Angeles, French, New York, Africa, Uganda, French Montana, Las Vegas, Kampala, Nigeria, Moroccan
An alarm at the International Boxing Hall of Fame in Canastota, N.Y., blared at about 2 a.m. on a fall morning in 2015, prompting its director to drive to the building and learn that culprits had broken in and stolen six championship belts from the ’40s and ’50s. “Who could do this to a hall of fame museum?” Edward Brophy asked police officers. Blood from one of the thieves appeared to drip from the splintered glass of a window they had broken in through. Mr. Brophy recalled thinking at the time: Maybe that would help investigators find the culprits. Nearly a decade later, it did.
Persons: ” Edward Brophy, Brophy, Andy Warhol, Yogi Berra, Organizations: International Boxing Hall of Fame, Federal, New York Yankees Locations: Canastota, Pennsylvania, Pennsylvania , New Jersey , New York , Massachusetts, North Dakota
Thad and Robin Krasnesky bought a 140-year-old Victorian mansion in Kansas in 2021. They document their explorations on their Facebook page, Krasnesky Manor For Wayward Cats. He and his wife Robin, 49, document their adventures at the house on their Facebook page, Krasnesky Manor For Wayward Cats. A peek inside the Krasneskys' home, which they chronicle on their Facebook page, Krasnesky Manor For Wayward Cats. We've got 14,000 people on our Facebook page now.
Persons: Thad, Robin Krasnesky, , Thad Krasnesky, Robin, we'd, A.J, Angell, there's, There's, Robin's, Rachel, we've, We've Organizations: Wayward, Service, Broadway, Union, Facebook Locations: Kansas, Texas, Leavenworth , Kansas, It's, England
Amy Ettinger used to ask her mom for advice on mundane stuff all the time, but then her mom passed away. She tried talking to Pi, a personal assistant chatbot that's supposed to act as an unflappable sounding board. So recently I decided to turn to AI for the kind of questions I used to ask my mom. I decided to try Pi, a personal assistant chatbotInflection AI launched its personal intelligence chatbot earlier this spring. I don't like the other terms," I typed in a confrontational tone I often used with my mom.
Persons: Amy Ettinger, chatbot that's, Pi, that's, it's, Geoffrey Hinton, Pi's, Mustafa Suleyman, Suleyman, I'd, I've, Ettinger, Amy Ettinger Pi, they've, Kelly, Edmunds Organizations: Morning, Google Locations: Northern California
What Is This? A Handbag for Ants?
  + stars: | 2023-06-13 | by ( Callie Holtermann | ) www.nytimes.com   time to read: +1 min
MSCHF, the creative collective responsible for the Big Red Boots that clomped across New York Fashion Week in February, is thinking smaller for its next accessory release. On Wednesday, the group plans to unveil its Microscopic Handbag, a specklike rendition of Louis Vuitton’s OnTheGo tote. This is not the kind of tote bag that can be filled up with vegetables at the farmers’ market: At most, it could be used to carry around a platelet or two. Kevin Wiesner, the chief creative officer of MSCHF, positioned the bag as a commentary on the impracticality of ever-shrinking luxury handbags. “I think ‘bag’ is a funny object because it derives from something rigorously functional,” he said in an interview.
Persons: Louis Vuitton’s OnTheGo, Louis Vuitton, Kevin Wiesner Organizations: Big Red, New York, Louis Vuitton’s OnTheGo tote Locations: New
“The suffering was too much.”In a statement to the court after she was charged, Gold denied that she and her brother were sex traffickers. Emirati authorities do little to protect these women, according to anti-trafficking activists, Nigerian authorities and interviews with trafficked women. Human traffickers keep African women in sexual slavery by playing on their financial desperation and creating webs of manipulation and coercion, the reporting shows. This article is part of a reporting collaboration led by ICIJ, Trafficking Inc., which is examining sex trafficking and labor trafficking in many parts of the globe. The UAE made sex trafficking a crime in 2006 and has established an interagency anti-trafficking panel and opened shelters for survivors.
Persons: Christy Gold’s, Gold, Christiana Jacob Uadiale –, they’d, , , ICIJ, Fatima Waziri, NAPTIP, Angus Thomas Organizations: United Arab, International Consortium of Investigative Journalists, Reuters, UAE, Gold, Emirates, NBC, Investigative Journalism, Dubai, UAE Ministry of Foreign Affairs, Nigeria’s National Agency for, U.S . State Department Locations: Nigerian, Nigeria, Dubai, British, United Arab Emirates, Gulf, UAE, , , Ghana, Gold, Europe, South Asia, Africa, Abu Dhabi
Twitter CEO Linda Yaccarino threw a party to celebrate Prince Harry and Meghan Markle's wedding. Yaccarino hosted the party for ad buyers and brand leaders at New York's Baccarat Hotel, per WSJ. Twitter's new CEO Linda Yaccarino reportedly threw a party to celebrate the royal wedding of Prince Harry and Meghan Markle. Yaccarino hosted the event for ad buyers and brand leaders at New York's Baccarat Hotel, The Wall Street Journal reported, citing sources familiar with the event. At the helm of Twitter, Yaccarino faces the tough job of making Twitter profitable and revitalizing its damaged advertising business.
Persons: Linda Yaccarino, Prince Harry, Meghan Markle's, Yaccarino, fascinators, Meghan Markle, skittish, Musk Organizations: New, Street Journal, Twitter, New York Times, Tesla, .
Lauren CobelloMy old house sold in a dayMy old house sold in a day for $185,000 — $16,000 above the asking price. The old house had room for plenty of sleepovers; we would host large ones for birthdays, but we can't do that in the new house. Cobello's new home (right) is about a third of the size of her old house. In the old house, my monthly expenses included $350 on property taxes, around $26 on garbage collection, and close to $66 on water. After paying off my mortgage on the old house, my proceeds from selling it will be around $55,000.
Persons: Lauren Cobello, , I'd, Cobello, Bob Ruggio, I've, It's, I'm Organizations: Service, WEBGIO, Facebook, Walmart Locations: New York, Oswego, homeownership
From now on, staff – including cabin crew members – can have long hair (provided it’s worn in a low bun or ponytail), wear makeup or not wear makeup as they choose, wear glasses instead of contact lenses (provided they have clear lenses) and sport flat shoes. Crew members who opt to wear dresses or skirts will be required to wear hosiery. And while it’s okay for crew members to have tattoos, they must cover up their ink while working. The airline also introduced an option for crew members to include their pronouns on their name tags. In 2022, British Airways announced it would allow all cabin crew members to sport makeup, face stubble, piercings, jewelry and nail polish alongside their uniforms.
Persons: , , “ We’re, Vivienne Westwood Organizations: Australian, Qantas, Jetstar, Virgin Atlantic, Virgin, British Airways, CNN
Aftershocks from the coronavirus pandemic continue to rumble across the U.S. economy, and Signet Jewelers shared a surprising one this week: The company is selling fewer engagement rings this year because, it says, singles who were stuck at home during lockdowns failed to meet their would-be fiancés in 2020. Shares of Signet, the largest jewelry retailer in the United States, tumbled after the company cut its forecasts for sales and profit for the rest of the year. In a way, the engagement ring has become a sparkly microcosm of the American economy. The bridal jewelry business is being buffeted by the delayed effects of the pandemic, rapid inflation that is squeezing consumers and a growing sense of nervousness among shoppers. Some of the volatility is owed purely to the pandemic.
Persons: lockdowns, Kay Organizations: Signet Jewelers, Signet, Kay Jewelers, Zales Locations: U.S, Virginia, United States
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