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☆ Timeline: How South Korea President Yoon Lost His Country's Trust and Approval
▼ + stars: | 2024-12-14 | by ( Agnes Chang | Pablo Robles | ) www.nytimes.com time to read: +10 min

South Korea’s president, Yoon Suk Yeol, may have sealed his political fate on Dec. 3 when he declared martial law, triggering public outrage. Here’s how Mr. Yoon lost the trust of much of his electorate. 2022 March Mr. Yoon was voted into office by the thinnest margin since South Korea began holding free presidential elections in 1987. The person who committed the act must resolve it” Mr. Yoon Let’s get Yoon Suk Yeol out!” First lady Kim Keon Hee The person who committed the act must resolve it” Mr. Yoon Let’s get Yoon Suk Yeol out!” First lady Kim Keon Hee The person who committed the act must resolve it” First lady Kim Keon Hee Mr. Yoon December Mr. Yoon vetoed a union-backed bill that would have limited companies’ ability to sue workers for losses during strikes. The results were widely seen as a verdict on Mr. Yoon, and his approval rating hit a new low: 23 percent.

Persons: Yoon Suk, Mr, Yoon, Jae, Weeks, Biden, Rice, Yoon’s, Kim Keon Hee, Yoon Let’s, Kim Keon Hee Mr, “, ” Organizations: Journalists Farmers Marines, Farmers, National Assembly, Gallup, Korea, Defense Ministry, Records, “, Atomic Energy Agency, Yoon International Atomic Energy Agency, Marine Corps Locations: South Korea, North Korea, U.S, Itaewon, Seoul, Tokyo, Japan, South

☆ Chanel announces Matthieu Blazy as its new artistic director
▼ + stars: | 2024-12-12 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —After months of speculation, Chanel has named its new artistic director. On Thursday, Matthieu Blazy — most recently, the creative director of luxury Italian label Bottega Veneta — was appointed to one of the most high-profile jobs in fashion. Blazy is only the fourth head designer of the French fashion house founded in 1910, and follows on from Virginie Viard, Karl Lagerfeld and Gabrielle “Coco” Chanel. She started at Chanel as an intern in 1987 and went on to become Lagerfeld’s deputy for decades, totaling 30 years at the company. I look forward to meeting all the teams and writing this new chapter together.”On Thursday, Bottega Veneta announced Louise Trotter as its new creative director.

Persons: Chanel, Matthieu Blazy —, —, Virginie Viard, Karl Lagerfeld, Gabrielle “ Coco ” Chanel, Dior, Bruno Pavlovsky, “, ”, Kering, Yves Saint Laurent, Gucci, Blazy, Belgian —, Nicholas Ghesquière, John Galliano, Raf Simons, Calvin Klein, Chanel’s, Leena Nair, Lagerfeld, Bottega, Louise Trotter Organizations: CNN, Bottega, Maison Margiela, Chanel Locations: Paris, French, Belgian, Brussels, Chanel

☆ Shares in fashion giant behind Zara and Massimo Dutti plunge as it reports disappointing sales growth
▼ + stars: | 2024-12-11 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

Inditex sales grew 9% in five weeks to December 9, the start of the traditional holiday shopping period. Shares fell over 7% on Wednesday off the back of the results, which missed analyst expectations. Analysts at Deutsche Bank called the results "disappointing" in a note to clients. AdvertisementShares in the Madrid-listed fashion giant — which also owns Bershka and Massimo Dutti — dropped as much as 7% on Wednesday after it missed analyst estimates. Net income rose 8.5% to €4.4 billion ($4.62 billion) in the nine-month period, falling below the €4.52 billion ($4.74 billion) forecast by analysts.

Persons: Massimo Dutti —, James Grzinic, Zara, Louis Vuitton, Christian Dior —, Kering, Saint Laurent — Organizations: Deutsche Bank, Jefferies, Louis, Gucci Locations: Madrid, Zara

☆ Designer John Galliano leaves Maison Margiela after 10 years, his ‘wings mended’
▼ + stars: | 2024-12-11 | by ( Story The Associated Press | ) edition.cnn.com time to read: +1 min

Milan, Italy AP —British designer John Galliano is leaving the Maison Margiela fashion house after 10 years as artistic director, the Paris-based brand’s owner said Wednesday. “John made it the most cutting-edge couture house in the world,’’ said Renzo Rosso, chairman of Italy’s OTB Group that owns Maison Margiela. Galliano made his runway debut with Maison Margiela in January 2015, with a small couture collection to a carefully selected audience of about 100 in London. Givenchy hired Galliano as a young head designer in 1995, before Christian Dior brought him on as creative director the next year. For 15 years, his star rose with theatrical runway shows.

Persons: John Galliano, “ John, ’ ’, Renzo Rosso, Rosso, ” Galliano, Pietro D'Aprano, ’ ’ Galliano, Galliano, Maison, Christian Dior, Givenchy Organizations: Italy AP, Maison, Italy’s, Maison Margiela, Margiela's, Milan Locations: Milan, Italy, British, Paris, London

☆ She was a teenage mother in Detroit. Now she’s a Ghanaian ‘Queen’
▼ + stars: | 2024-12-10 | by ( Joshua Korber Hoffman | ) edition.cnn.com time to read: +7 min

Twenty-five years later, when Johnson found herself in northern Ghana being made a queen, she couldn’t quite believe where life had led her. In front of an adoring crowd in Tamale, the largest city in northern Ghana, Johnson was given her honorary title of “Zosimli Naa” in October 2021. Kendall JonesKennedy Johnson is not the first Zosimli Naa to be enskinned by the Dakpema. Seven years later, Johnson became the next person to receive the title from the Dakpema Palace. “It’s still a hard thing to conceptualize.”And what would the teenage Kennedy Johnson in Detroit think of the current Queen in Tamale?

Persons: CNN — Kennedy Johnson, Johnson, ”, Razik, Zosimli, ” —, “, ” Johnson, ‘, ’, D’Kiya, —, ” Kennedy Johnson, — “, Jim, Jim Crow America, Tamale —, Kendall Jones, Johnson’s, Nana Kyei, Kin, ” Kenndy Johnson, Kendall Jones Kennedy Johnson, Susan Herlin, ‘ Swagger, ’ Johnson, Steven Kwame Atuahene, ” D’Kiya, you’ve, Stunna Dior, “ It’s, Kennedy Johnson Organizations: CNN, Green, Disney Locations: Detroit, Ghana, Tamale, Abdul, Bahamas, Hong Kong, South America, Ghanaian, West Africa, Jim Crow, Dagbon Kingdom, ”, Kentucky, Dakpema, Kingdom

☆ My Gen Alpha sister gave me her Christmas list. Here's what surprised me the most.
▼ + stars: | 2024-12-08 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

My Gen Alpha sister sent me her Christmas list, and some of the items surprised me. Her wish list is a snapshot of what teens at her Texas high school are coveting this holiday season. Nike, Apple, and Lululemon remain popular among teens, according to her list and a recent survey. AdvertisementEvery holiday season, my family expects to receive an extensive Christmas list from my 14-year-old sister — in true youngest-sibling fashion. Here's what else my sister said she and her Gen Alpha friends are coveting this holiday season.

Persons: Alpha, Z, —, Stanley, Lululemon —, Piper Sandler, Lululemon, It's, Stanley tumbler, That's, Siri, Max, she's, Nike Dunks, Jim Duffy, Dunks Organizations: Nike, Apple, Dior, Apple Intelligence, Nike Jordan, Stifel Locations: Texas

☆ The Best Places to Travel to in 205, According to National Geographic
▼ + stars: | 2024-12-06 | by ( Priyanka Rajput | ) www.businessinsider.com time to read: +2 min

Eastern and Oriental Express, MalaysiaBelmond's Eastern & Oriental Express briefly shut down during the COVID-19 pandemic but is now back on track. Nicolas Quiniou/BelmondAngela Walker, the vice president of operations at The Society of International Railway Travelers, first experienced Belmond's Eastern & Oriental Express in 2019, just before the COVID-19 pandemic. But since its reintroduction earlier this year, the luxury train has an updated itinerary, beginning in Malaysia and finishing in Singapore. Recalling her experience from 2019, Walker told BI, "The overall experience was just five stars." The train also features a luxury spa suite in collaboration with Dior, an experience Walker said only a few trains in the world offer.

Persons: Nicolas Quiniou, Belmond Angela Walker, Walker, Dior, André Chiang Organizations: Oriental Express, The Society of International Railway Travelers Locations: Malaysia, Bangkok, Singapore

☆ Yoon Suk Yeol: The ‘American Pie’-singing conservative who tried to suspend democracy – and failed
▼ + stars: | 2024-12-05 | by ( Helen Regan | ) edition.cnn.com time to read: +12 min

Seoul, South Korea CNN —Declaring martial law in a stable and boisterous democracy was an audacious gamble – and one that appears to have backfired spectacularly for South Korean president Yoon Suk Yeol. But the president’s short-lived declaration of martial law still felt like an attack to the heart of the country’s democracy. Helicopters fly after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, on December 4, 2024. Soldiers try to enter the National Assembly building in Seoul on December 4 2024, after South Korea President Yoon Suk Yeol declared martial law. Many believe the botched martial law and subsequent democratic proceedings show that South Korean democracy is alive and well.

Persons: South Korea CNN —, Yoon Suk, Yoon’s, ”, Yoon Suk Yeol, Kim Hong, Kyung, ” –, Yoon, Joe Biden, ’, Don McLean, Jung Yeon, “, Antony Blinken, Park, Chip Somodevilla, Jae, Kang, Sung, Sydney Seiler, Lady Kim Keon Hee, Dior, Kim, Kim Keon Hee, “ Yoon, Ahn Byung, Donald Trump, Michel Barnier, Kwak Dong, Kwak, Kim Hyeon, Lee Jae, myung, Han Dong, Han, Hanna, Eunseo Jeong, Jessie Yeung, Rebecca Wright, Ivan Watson, Gawon Bae, Yoonjung Seo, Antoinette Radford Organizations: South Korea CNN, South, National Assembly, CNN, Helicopters, Reuters, United, House, Getty, South Korea, People Power Party, White, Seoul, Democratic Party, Min Consulting, Center for Strategic, International Studies, “, Korea Armed Forces, Kyung Hee University, Parliamentary Locations: Seoul, South Korea, South, Korea, Washington ,, North Korea, North, “, Seongnam, France, Korean

Victory, but no mandateMr. Yoon, a conservative leader, has never been popular in South Korea. The vote, analysts said, was more a referendum on his liberal predecessor’s failures than an endorsement of Mr. Yoon. “Peace is meaningless unless it is backed by power,” Mr. Yoon said during the campaign. An election fueled by vitriolMr. Yoon’s party had seen the 2024 elections as an opportunity to win back the chamber. “I call on the National Assembly,” he said, “to immediately stop the outrageous behavior that is paralyzing the functioning of the country with impeachments, legislative manipulation and budget manipulation.”Image Police officers by the National Assembly.

Persons: Yoon Suk Yeol, Yoon’s, —, Yoon, Lee Jae, myung, “, ”, Chang W, Lee, hye, Moon Jae, Kim Jong, Mr, Biden, Michael Park, Doctors, Marie Antoinette, Cho Kuk Organizations: South Korea’s, South, New York Times, Samsung, North, The New York Times, Democratic Party, National Assembly, North Korea ramped, North Korean, ., New York, Mr, Police, National Assembly . Credit Locations: Seoul, South Korea, Korea, U.S, Asia, Washington, China, South Korean, North Korea, churchgoers, Japan

☆ Christian Louboutin wants to keep his favorite holiday spot special — but it's on Harry and Meghan's radar too
▼ + stars: | 2024-11-24 | by ( Maria Noyen | ) www.businessinsider.com time to read: +4 min

Christian Louboutin opened a small hotel in Melides, Portugal, and plans to open another. Advertisement"People are touched by authenticity and we need to keep it that way," Louboutin told Bloomberg. AdvertisementJust a 15-minute drive from Melides lies Costa Terra, a 722-acre luxury resort community and gold club built by US real estate developer Discovery Land Company. Related storiesRepresentatives for Costa Terra did not immediately respond to requests for comment. "Tourists come here for the beauty of this place," Louboutin told Bloomberg.

Persons: lister, Prince Harry, Meghan Markle, Louboutin, Christian Louboutin, Victor Boyko, It's, Mike Meldman, George Clooney, Harry, Eric Charbonneau, Paris Hilton, Sharon Stone, Costa Terra, Amancio Ortega's, Vitor Paiva, Engel, Völkers, Paiva Organizations: Bloomberg, Dior, Discovery Land Company, Casa Amigos, The Telegraph, Archewell, Getty, Costa Terra, Vanguard Properties Locations: Portugal, overtourism, Melides, Tropez, Alentejo, St, Costa, Montecito , California, Colombia, Comporta, Portuguese

☆ New Vogue exhibition on runway shows reveals how this humble walkway changed fashion forever
▼ + stars: | 2024-11-19 | by ( Leah Dolan | ) edition.cnn.com time to read: +8 min

And if you did miss them, both these revolutionary runways are part of a new London exhibition, “Vogue: Inventing the Runway,” at the Lightroom. Projected onto the venue’s 39-foot-high walls, a mixture of backstage and runway footage transports viewers into the epicenter of fashion history. Alexander McQueen's Spring-Summer 1999 show, featuring a duo of spray-painting robots, has gone down in fashion history. Coco Chanel would watch the her own fashion shows from the mirrored staircase in her apartment building in Paris. The Vogue exhibition at the Lightroom chronicles the history of the runway, using backstage and runway footage to immerse the audience.

Persons: you’re, Alexander McQueen’s, Chanel, ”, Chioma Nnadi, “, Alexander McQueen's, Paul Vicente, John Galliano’s, Margiela, ’ Pont Alexandre III, Saint Laurent’s, Bella Hadid’s, Alex Consani strutting, Pharrell Williams, Louis Vuitton, Julien De Rosa, Charles Fredrick Worth, ” Dr, Kate Strasdin, dressmakers, Lucy, Lady Duff, Gordon, ‘, I’ve, ’ ”, Karl Lagerfeld, David Fisher, ” Strasdin, Gabrielle “ Coco ” Chanel, tucking, — Marie, Kate, Ashley Olsen’s, Coco Chanel, Karl Lagerfeld’s, “ Voss, Anna Wintour’s, Justin Sutcliffe, McQueen, Dior —, Nnadi, It’s Organizations: London CNN, Vogue, British Vogue, Getty, England’s Falmouth University, CNN, “ Locations: ”, British, Saint, Paris, Pont, Pont Neuf, AFP, Worth, New York

An unemployed UX designer, Lei had taken it upon herself to create the perfect work bag. Today, Lei is the 28-year-old CEO and founder of Freja, a New York-based company that sells work totes, shoulder purses and travel accessories. A 'really, really slow' startIn February 2019, Lei was a soon-to-be-unemployed graduate student at Cornell University preparing for a job interview in New York. She tried pairing three different work bags with her outfit, and none of them worked. "It was really, really slow for the first two years," says Lei.

Persons: Jenny Lei, She'd, Lei, —, Freja, Louis Vuitton, Dior, Celine, Loewe, Sandy Liang Organizations: CNBC, Cornell University Locations: Hoboken , New Jersey, New York, Bryant, Brooklyn, Guangzhou, China

☆ China's KFC and Pizza Hut CEO said she spends hours watching her customers eat
▼ + stars: | 2024-11-18 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

AdvertisementChina's KFC and Pizza Hut CEO said that she sits and watches her customers eat. Joey Wat, the head of KFC and Pizza Hut in China, has an unusual approach to designing new products: She sits in restaurants for hours, watching her customers eat. Wat is the CEO of Yum China, the company that owns KFC, Taco Bell, Pizza Hut, and other fast-food brands in the country. According to Yum China, KFC is China's most popular fast-food chain, with over 11,000 outlets in the country. Representatives of Yum China didn't respond to a request for comment from Business Insider.

Persons: Jason Buechel, LVMH's Bernard Arnault, Joey Wat, Wat, Fortune, Sam Walton, Laxman Narasimhan, foodie, Buechel, Bernard Arnault, Celine, Louis Vuitton, Christian Dior, Alexandre Arnault Organizations: Pizza, KFC, Yum, Taco Bell, Global, New York City, Walmart, Starbucks, Foods, Tiffany, Bloomberg, Business Locations: China, Yum China, New York, Austin

☆ Bernard Arnault, the world's richest person, appoints son to CEO role at LVMH amid leadership shake-up
▼ + stars: | 2024-11-14 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

Bernard, CEO and chairman of LVMH, is the world's richest person with a $158.5 billion net worth. Related Video 5 ways Elon Musk shook up Twitter as CEOAlexandre Arnault and Bernard Arnault in 2016. Representatives for LVMH, Arnault, and Guiony did not respond to requests for comment from Business Insider. The new appointments also drum up speculation about who will succeed Bernard as LVMH's CEO. The Arnault family has been compared to the Roy family, the subjects of the HBO drama, "Succession."

Persons: Alexandre Arnault, Moët Hennessy, Bernard Arnault's, —, Bernard Arnault's multibillion, LVMH, Bernard, Christian Dior, Bernard's, Alexandre, Elon Musk, Bernard Arnault, Donato Sardella, Louis Vuitton, Jean, Jacques Guiony, Guiony, — Alexandre, Frédéric —, Delphine Arnault, Dior Couture, Antoine Arnault, Antoine, Jean Arnault, Roy, Roy family's Organizations: Service, company's Sustainability, LVMH's, Product, Communications, Tiffany, LVMH, Business, Reuters, Christian Dior, HBO, New York Times Locations: LVMH

☆ Designer bags are expensive. So some people are buying luxe hand soap instead.
▼ + stars: | 2024-10-30 | by ( Amanda Krause | ) www.businessinsider.com time to read: +6 min

Designer hand soaps from brands like Aesop and Diptyque have become gateways into luxury shopping. AdvertisementIt's been said that once you wash your hands with Aesop's Resurrection hand soap, you'll never turn back. Consumers began buying designer soap for their homes more widely in the late 2010s, and in 2018, the global market for bath soap was valued at $19.5 billion. A 2024 report by Expert Market Research said the global soap market could reach over $36 billion in revenue by 2032, and luxury soap products are partially to thank. AdvertisementSo yes, buying luxury soap might seem to some like you're washing money down the drain.

Persons: —, It's, you'll, You'll, cleanser, Maison Francis Kurkdjian's, it's, Emma, Dior doesn't, Mal Langsdon, Reuters Emma, Malin, Goetz, Ron Robinson, he's, Loewe's, Sommyyah Awan, Dave Benett, Jo Malone London's, I'm Organizations: Service, Dior, Reuters, Consumers, Market Research Locations: auburn, Baccarat, Montreal, Toronto, London

☆ Smells Like Teen Spirit: Inside Gen Z's Luxury Perfume Obsession
▼ + stars: | 2024-10-29 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +12 min

AdvertisementBehind the booming appetite for new smells is Gen Z. AdvertisementIf there's one thing Gen Z loves, it's a name for something. Under the handle @juliaperfumery, she shares perfume reviews for her primarily Gen Z audience against the backdrop of her New York City apartment's perfume closet. "If there's one thing Gen Z loves, it's a name for something," O'Toole says. There are back-to-school scents, scents to win your ex back, scents to smell like Vanessa Paradis in Paris in the '90s — the list goes on.

Persons: Julia Dovgal, douse, mother's Chanel, Dior, Jo Malone's, Wood, Dovgal, She's, Circana, Gen Zers, Gen Xers, It's, Piper Sandler, Valentino, Jean Paul Gaultier, Maison Francis Kurkdjian's, TikTok, Phlur, —, it's, Juliette, Emelia O'Toole, There's, O'Toole, We've, Vanessa Paradis, Piper, Cathrine Jansson, Boyd, " Jansson, Gen Z, Chanel, Marilyn Monroe, Catherine Deneuve, Nicole Kidman, isn't, Gris Charnel, Jansson, Bella, Susan Wai Hnin, Zers Organizations: Saks, Perfume, Anglia Ruskin University, Urban Outfitters, rockstar Locations: Salt, Bath, New York City, TikTok, New York, Paris, London

☆ Al Pacino says he went from $50 million to broke, joining a long list of stars who've experienced money troubles
▼ + stars: | 2024-10-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Al Pacino went from a $50 million fortune to almost nothing in the bank, he revealed in a new book. The "Scarface" actor spent too much, ignored his finances, and had an accountant who ultimately went to prison. AdvertisementAl Pacino went from $50 million to broke by spending too much, ignoring his finances, and using an accountant who ultimately went to jail for fraud. In a scene somewhat reminiscent of a mob movie, Pacino set up a meeting with the studio's boss and asked him to back down. "I had $50 million, and then I had nothing.

Persons: Al Pacino, Pacino, Adam Sandler, —, who've, Sonny Boy, they'd, Donnie Brasco, he'd, there's, Al's, Jack, Jill, Michael Jackson, Mike Tyson, Diego Maradona, Dennis Rodman, Charles Barkley, Shay Shay, Louis Vuitton, Dior Organizations: Service, MGM Studios, MGM, New Yorker Locations: Europe

☆ Social media's favorite fake rich kid opens up about his online persona — and his new real-life job
▼ + stars: | 2024-10-19 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Aris Yeager shot to fame by parodying a spoiled, rich European caricature on social media. Yeager recently told Business Insider about his online persona. You may have seen the 24-year-old Belgian-American, better known as "The European Kid," at some point on your social media feeds. But the conflation between Yeager's and Louis' life goes further than being mistaken for billionaires' sons. "I could be a Formula 1 driver," Louis told Sainz in a video earlier this year.

Persons: Aris Yeager, Yeager, —, Louis, Fabrizio Brienza, Bernard Arnault, Louis Vuitton, Alexandre Arnault, Yeager's, Moritz, he's, Carlos Sainz Jr, Anne Hathaway, Shaun White, Sainz, I'm, Philip Davis, Lefty, Storytime, Thomas Repelski, Davis Organizations: Service, New York City, Dior, TF1, Google, Hamptons, Northeastern University, Milano Locations: New York, Europe, TikTok, French, Saint, St

☆ Netflix airing NFL games on Christmas will be the streaming giant's biggest test for its next area of growth
▼ + stars: | 2024-10-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, Netflix's earnings report comes as Wall Street wonders if the king of streaming can keep its crown . Business Insider's Lucia Moses outlined investors' key questions about Netflix ahead of its third-quarter earnings call this afternoon. The NFL is coming to the streamer this Christmas, with Netflix showing two games on the holiday.

Persons: —, Leapmoter, Chelsea Jia Feng, Business Insider's Lucia Moses, Alain Tascan, Jamie Squire, — Peacock, BI's Peter Kafka, There's, Patrick Mahomes, Lamar Jackson, Mike Kemp, Louis Vuitton, Christian Dior, iStock, Rebecca Zisser, Harris, Elon Musk's, Elon, Tyler Le, it's, Amy Powell, El, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, EV, Netflix, Epic Games, NFL, NBA, Getty, Louis, BI, Trump, House, SpaceX, Elon Musk's, California Coastal Commission, Paramount, NATO Locations: Europe, Swedish, California, Hollywood, El Mayo, Sinaloa, New York, London

☆ Luxury stocks slide as LVMH disappoints and Wall Street eyes few signs of stronger China demand despite stimulus
▼ + stars: | 2024-10-16 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The Dior and Louis Vuitton parent pointed to weak consumer demand in China. Wall Street analysts say recent stimulus measures likely won't be enough for spending in China to rebound. The company pointed to overwhelmingly weak demand in China, with organic sales in Asia (excluding Japan) falling 16%. The company gave vague forward guidance, and analysts on Wall Street say the country's recent stimulus won't be enough to reverse the weak demand. China's latest stimulus package, unveiled late last month, has aimed to prop up the country's weak consumer demand and struggling property sector.

Persons: LVMH, Hermes, Dior, Louis Vuitton, —, Christian Dior, Jean, Jacques Guiony, Guiony, We've Organizations: L'Oreal, Wall Street, Service, Wall, Citigroup Inc Locations: China, Asia, Japan

☆ It looks like the glory days of luxury are over for LVMH, at least for now
▼ + stars: | 2024-10-16 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

LVMH reported a 3% decline in sales in its most recent quarter. The drop is driven by decreased demand from Chinese consumers, affecting luxury sales. AdvertisementFrench luxury conglomerate LVMH, the world's largest luxury company, reported a 3% year-on-year decline in sales in its most recent quarter. On Wednesday, LVMH shares fell by nearly 7% in early trading, driven by waning demand from Chinese consumers, who were once key spenders of European luxury goods. Some Chinese luxury consumers have been flocking to Japan to take advantage of lower prices caused by the country's currency downturn.

Persons: LVMH, —, Louis Vuitton, Christian Dior —, lockdowns, Jean, Jacques Guiony Organizations: Service, Louis, National Development, Reform Commission Locations: Beijing, China, Covid, Asia, Japan, United States, Europe

☆ I'm 30, and my best friend is 75. She's shaped how I approach relationships.
▼ + stars: | 2024-10-12 | by ( Hannah Wilkinson | ) www.businessinsider.com time to read: +5 min

My parents introduced me to my best friend when I was 19, hoping she would be a good mentor for me. Now, more than 10 years later, I consider her my best friend. At 30, people often say it's nice that I have an "extra grandma," but I quickly correct them — no, she's my best friend. AdvertisementHannah Wilkinson has learned a lot from her best friend Gill. Hannah Wilkinson's best friend Gill is 45 years older than she is.

Persons: — we've, —, Gill, Hannah Wilkinson, Gill ., Howard, He's, Hannah Wilkinson's, Hannah Wilkinson We've, I've, she's, we're, someone's Gill Organizations: Service Locations: Highland

☆ Dior and Gucci owners suffer $14 billion wealth crash as luxury stocks slide
▼ + stars: | 2024-10-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The ultra-rich owners of the world's leading luxury brands took a hit to their fortunes on Tuesday. LVMH shares fell as much as 7% in Paris on Tuesday, slashing the value of his stake by about $13 billion, before paring their decline to 3%. Arnault ranked as the world's fourth-richest person with a $197 billion net worth at Monday's market close, per the Bloomberg Billionaires Index. Pinault was 83rd in the wealth rankings with a $24 billion fortune at Monday's close, down more than $11 billion this year. For example, the Dumas family owes most of its estimated $150 billion fortune to Hermès stock, which slid 3% on Tuesday.

Persons: Bernard Arnault, —, LVMH Moët Hennessy Louis Vuitton, Dior, Arnault, François Pinault, Gucci, Kering, Pinault, Dumas, Johann Rupert's, Cartier, Piaget, Remo Ruffini isn't, Forbes, Chanel isn't, Alain, Gérard Wertheimer, they're Organizations: Service, Bloomberg Locations: LVMH, Paris, China, Monday's

☆ Luxury stocks are on the slide again as China's stimulus plans disappoint
▼ + stars: | 2024-10-08 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

European stocks took a hit as China's stock rally lost momentum. A lack of new stimulus details from China has affected the luxury sector. AdvertisementEuropean stocks took a hit on Tuesday as China's stock rally cooled following a lack of much-awaited details about how the government plans to support economic growth in the country. Investors were expecting the National Development and Reform Commission, China's top economic planner, to provide fresh information regarding stimulus plans at a press conference on Tuesday. Luxury brands have seen sales suffer in China in recent months amid the country's economic slowdown.

Persons: —, Louis Vuitton, Christian Dior, Gucci, Burberry, Kering, Marc Jacobs Organizations: Service, Investors, National Development, Reform Commission, Louis, Burberry Locations: China, LVMH, Asia, Japan, Pacific

☆ South Korea prosecutors drop charges against first lady over Dior handbag
▼ + stars: | 2024-10-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

SEOUL, South Korea — Prosecutors in South Korea have decided not to charge first lady Kim Keon Hee over allegations of inappropriately accepting gifts last year, including a Christian Dior handbag, the Yonhap news agency reported, citing the Seoul prosecutors’ office. The scandal has caused a political uproar in South Korea and contributed to a bruising election defeat for President Yoon Suk Yeol’s governing party in April. Prosecutors also decided to drop graft charges against the pastor, Rev. Choi had told reporters, when he appeared for questioning by prosecutors, that he asked for several favors when he handed the gifts to Kim. Opposition lawmakers have called for a special counsel investigation into the case and allegations of other irregularities involving the first lady.

Persons: Kim Keon Hee, Dior, Yoon Suk, Kim, Yonhap, Prosecutors, Abraham Choi, Yoon, Choi, ” Organizations: South Korea — Prosecutors, ’, Seoul Central, Prosecutors ’, Yoon YouTube Locations: SEOUL, South Korea, Seoul

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