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☆ Hermès Wins Case Against Artist Who Sold NFTs of Birkin Bags
▼ + stars: | 2023-02-08 | by ( Erin Mulvaney | ) www.wsj.com time to read: +1 min

The Birkin bag has evolved into a coveted luxury item known for its steep price tag and exclusive wait lists. French luxury brand Hermès prevailed in a closely watched intellectual-property trial over an artist who created and sold nonfungible tokens depicting the company’s iconic Birkin handbag, a boost for companies seeking to protect their trademarks in the digital realm. After a weeklong trial, a federal jury in Manhattan on Wednesday awarded Hermès $133,000 in damages from Mason Rothschild, a self-described entrepreneur and artist. The company argued Mr. Rothschild was profiting unlawfully off the goodwill of its sought-after luxury product, with his actions pre-empting the company’s ability to offer products and services in virtual marketplaces. Mr. Rothschild in response said he was engaged in artistic expression protected by the First Amendment.

Companies Hermes International SCA FollowNEW YORK, Feb 6 (Reuters) - Hermes International SCA (HRMS.PA) urged a U.S. jury on Monday to find that a creator of non-fungible tokens violated its trademark for Birkin bags, while lawyers for the "MetaBirkins" maker countered that the images were art. "He never tried to mislead anyone into believing that the MetaBirkins came from Hermes," Millsaps said, arguing that Rothschild wanted credit for the project. Warshavsky said Hermes was working on its own Birkin NFTs at the time, and accused Rothschild of "cybersquatting" by trying to beat the company to the market. He said Hermes would not have brought the lawsuit if Rothschild had complied with a December 2021 cease-and-desist letter demanding he stop selling the NFTs. Jonathan Harris, another lawyer for Rothschild, said his client added a disclaimer stating that Hermes was not associated with the NFTs after he received the letter.

☆ Virtual Birkin Bags on Trial in Hermès Case Testing IP Rights
▼ + stars: | 2023-01-29 | by ( Erin Mulvaney | ) www.wsj.com time to read: 1 min

Hermès is seeking to stop an artist behind the virtual Birkin handbags, but the creator is arguing constitutional protections for freedom of expression. The Birkin handbag, made by French luxury brand Hermès , for decades has been a symbol of wealth, sold through exclusive shops and mysterious wait-lists at prices that reach tens of thousands of dollars or more. A self-described entrepreneur and artist in 2021 set out to offer another way to own a Birkin, with a digital nonfungible token. Mason Rothschild created a series of 100 digital images he called MetaBirkins, depicting fur-covered purses in the same shape and style as the Hermès luxury product, which he sold as digital tokens on virtual marketplaces. The NFTs sometimes have sold at prices similar to the real handbags.

☆ Here are 3 big luxury retail trends for 2023, according to experts
▼ + stars: | 2022-12-31 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Luxury resale will boom in 2023 as more brands take control of their second-hand markets. The personal luxury market is expected to grow 3%-8% over the next year, according to Bain & Company. This year, without those stimulus checks, and amid a possibly pending recession, there will be a shift in who is buying luxury items, according to Oliver Chen, a managing director in the retail and luxury section for investment bank Cowen. Insider chatted with four experts, from former merchandisers to retail analysts, to understand how the luxury retail market is bound to change in 2023. Next year, experts expect to see more luxury brands taking control of their own second-hand markets.

☆ These 6 handbags are 'actually worth the investment,' says shopping expert: Chanel, Louis Vuitton, limited drops
▼ + stars: | 2022-12-30 | by ( Charles Gorra | ) www.cnbc.com time to read: +4 min

As the founder of Rebag, a designer handbag resale site, I've kept a close eye on the resale value of sought-after luxury goods. That's well above other major designer names — like Chanel, for example, which boasts an average value retention of 87%. Birkins have an average value retention of 96%, while the Kelly averages 108%. For example, the Nigo Keepall Bandoulière bag has a 119% average value retention, while the Louis Vuitton x NBA Ball in Basket Bag has a 147% average value retention. Up 12 percentage points from 2021, the brand's average value retention is 87%, although several bags exceed 100%.

☆ 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.

News of the loosening lifted stock markets worldwide, with luxury shares in particular benefiting. Shares in LVMH (LVMH.PA), the world's biggest luxury group and Europe's number 1 company by market capitalisation, were up 2.7% while Cartier-owner Richemont (CFR.S) rose almost 4%. Before the current slowdown, it had for years been the fastest growing region, with young, urban, middle class professionals powering the luxury market by splashing out on Hermes' 10,000 euro-plus ($10,633) Birkin handbags and Gucci's 1,000 euro fur-lined loafers. According to a recent report by the McKinsey consultancy, while non-luxury fashion sales are expected to rise between 2% and 7% in 2023, luxury sales should climb 9% to 14% over the same period. ($1 = 0.9405 euros)Reporting by Silvia Aloisi; Editing by Louise Heavens Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Is it the time to buy The Birkin bag over bonds?
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIs it the time to buy The Birkin bag over bonds? Rachel Koffsky, head of Christie’s luxury department, joins 'The Exchange' to discuss investing in luxury goods, the buying and bidding strength behind collectible high-end goods and the people interested in luxury collecting.

☆ Copycatting lawsuits hit new media as TikTok creators, game designers and Instagrammers are sued
▼ + stars: | 2022-10-22 | by ( Alexandra Peers | Cnn Business | ) edition.cnn.com time to read: +7 min

A series of hot-button lawsuits have linked all those unlikely creators and platforms in litigation that goes as high as the US Supreme Court. The litigation deals with issues of intellectual property, copyright infringement and fair use in a rapidly changing new-media landscape. She won, but not much: $3,750, because the court ruled that, though her copyright had been violated, her tattoos didn’t impact game profits. It was a huge hit on TikTok, in part because the duo invited feedback and participation, making it a crowd-sourced artwork. But when the creators took their show on the road and sold tickets, Netflix sued.

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.

☆ Hermes eyes big price rises, says no sign of slowdown
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

The logo of Hermes is seen on a store in Paris, France, April 24, 2020. "We will probably have price hikes between 5 and 10 percent," Hermes executive vice president of finance Eric du Halgouet told reporters on Thursday, adding this was due to rising labour costs and currency fluctuations. Register now for FREE unlimited access to Reuters.com RegisterThe company raised prices by around 4% this year and by 1.5-2% on average in previous years. "Sales in Greater China picked up strongly, despite temporary closures due to sanitary measures mainly in Macau, Chengdu and Dalian in July and August," the company said in a statement. ($1 = 1.0222 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Mimosa Spencer, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

☆ Hermes plans big price rises, says no sign of slowdown
▼ + stars: | 2022-10-20 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

"We will probably have price hikes between 5 and 10 percent," Hermes executive vice president of finance Eric du Halgouet told reporters on Thursday, blaming increased costs and currency movements. Hermes, which has waiting lists for its prized $10,000-plus handbags and limits production to maintain exclusivity, increased prices by around 4% this year and by 1.5-2% on average in previous years. That compares with double-digit price hikes at Chanel. "For the moment, we don't see any sign of slowdown in any of our markets,” said du Halgouet. The Hermes figures suggest that "high-end global luxury goods demand has yet to normalise," said Luca Solca, analyst at Bernstein.

☆ Ukraine asks France to prove its love with weapons
▼ + stars: | 2022-10-12 | by ( John Irish | ) www.reuters.com time to read: +2 min

France has delivered Caesar howitzers, portable air defence systems and heavy armoured vehicles primarily. Wednesday's clip made clear to France that it wanted more than just words and promises. France does have the SAMP/T (Mamba) surface-to-air defence system, although quite how many it could provide is unclear. "We have not had any answers from France to our requests on this," Vadym Omelchenko, Ukraine's ambassador to France, told reporters on Monday. Register now for FREE unlimited access to Reuters.com RegisterReporting by John Irish; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Slots to smartphones: Pandemic sends Australia’s gambling problem online
▼ + stars: | 2022-09-29 | by ( ) www.nbcnews.com time to read: +5 min

Australia’s gambling industry has been in the spotlight in recent years, with public inquiries lashing its biggest casino operators due to lapses in money laundering protections. Online gambling has also been the focus of inquiries, but with its increasing prevalence, the government has answered consumer advocates with a pledge to take a deeper look. Australia overtook Britain, which has nearly three times its population, to rank third by online loss, behind the United States and Japan, said H2. The new center-left federal government this month said it will hold a parliamentary inquiry into online gambling, though some recommendations of a 2015 inquiry are yet to take effect. “At their fingertips they have 24-hour access to gambling online.

Online gambling has also been the focus of inquiries, but with its increasing prevalence, the government has answered consumer advocates with a pledge to take a deeper look. Australia overtook Britain, which has nearly three times its population, to rank third by online loss, behind the United States and Japan, said H2. The new centre-left federal government this month said it will hold a parliamentary inquiry into online gambling, though some recommendations of a 2015 inquiry are yet to take effect. "At their fingertips they have 24-hour access to gambling online. Wareham, the coffee technician, said he no longer uses poker machines and that family responsibilities help him control his online betting.

☆ Chinese snap up used Rolexes, Birkins to satisfy luxury cravings amid slowdown
▼ + stars: | 2022-09-28 | by ( Casey Hall | ) www.reuters.com time to read: +4 min

"More and more people are now aware they can sell luxury goods for some money and the buyer side is noticing that they can get a great deal," said Zhu, 33. China's second-hand luxury market is tipped to grow to $30 billion in 2025 from $8 billion in 2020, consultancy iResearch said late last year. HANDBAGS, JEWELLERYOffice worker Wang Jianing is exploring buying second-hand luxury products, given the economic climate. China's luxury resale marketplace is expected by analysts to remain dominated by local players for now. Though handbags remain the top-selling category on luxury platforms like ZZER, Zhu said sales of watches and jewellery are also growing fast.

☆ Opinion: The metaverse holds great promise — and great risk
▼ + stars: | 2022-04-12 | by ( Opinion Scott Galloway For Cnn Business Perspectives | ) edition.cnn.com time to read: +4 min

But the metaverse could be so much more than one man’s quest for control over our virtual lives. Like the real world (at least in any capitalist society), it has to incentivize individuals to participate in and grow the economy. The metaverse needs to be a reasonable facsimile of the real world, where I can spend my money and wear my Adidas where I want. Just as in the physical world, freedom is easily lost and our lives easily manipulated. No metaverse built by humans is going to be void of the human instinct to want power, and that power could be enormous.

HermèsHermès was hit with a proposed class-action antitrust lawsuit on Tuesday over what litigants allege is an illegal requirement for Birkin hopefuls to purchase ancillary products from the brand. Susan Scafidi, the director at Fordham University's Fashion Law Institute, told BI it would be difficult for plaintiffs to prove that Hermès' has a "lockstep policy" on how much a customer should purchase to access a Birkin or how sales associates determine who gets a bag. Melissa K. Dagodag, an attorney specializing in business law, also told BI that the lawsuit would be difficult to prove. "Maybe Birkin bags will become less of a status symbol and more of an 'I'm a sucker' symbol, casting buyers in some kind of unintended dark light," Dagodag told BI. "In other words, there may never be a better time for an ordinary customer with thousands to spend on a bag to go shopping," Scafidi told BI.

Persons: Hermès, Birkin, Gross, he's, Susan Scafidi, Melissa K, Dagodag, Scafidi Organizations: Fordham University's Fashion Law, Lawyers

☆ Cum a cheltuit Floyd Mayweather 80.000 de dolari în câteva minute. I-a sunat telefonul și a venit imediat
▼ + stars: | 2021-04-14 | by ( ) www.jurnal.md time to read: +3 min

Sursa foto: Getty ImagesCum a cheltuit Floyd Mayweather 80.000 de dolari în câteva minute. I-a sunat telefonul și a venit imediatFloyd Mayweather continuă să uimească din nou cu stilul său de viață extravagant. "Nu a spus pentru cine sunt gențile, dar se înțelege că ar fi pentru colecția lui care este în creștere", a spus un martor ocular, potrivit publicației Page Six Style. "Apoi a sosit după 25 de minute și a cheltuit 80.000 de dolari în 10 minute, pentru 4 genți", a spus acel martor. Doar bursa de meci a lui Mayweather a fost atunci de 300 de milioane de euro.

Persons: Floyd, Hermes Birkin, Mayweather, Anna Monroe, Karl Lagerfeld, Floyd Mayweather, Conor McGregor, Manny Pacquiao, Saul Canelo Alvarez, Mike Tyson, Evander, Americanul Organizations: Page, Style, Conor Locations: Miami, Pacquiao, Mayweather

☆ How the Dumas family, heirs to the $49.2 billion Hermès fortune, turned a leather store into a luxury empire and became one of the wealthiest families in the world
▼ + stars: | 2019-03-19 | by ( Meira Gebel | ) www.businessinsider.com time to read: +2 min

Bloomberg estimates put the Dumas family fortune at $94.6 billion, making it one of the richest families in the world. Hermès, like Chanel, is one of just a handful of renowned retail businesses where a single family owns the controlling share. Six generations later, the Hermès family — and brand — is now known for its exclusive Parisian fashion house and a $49.2 billion fortune. At the head of Hermès today are two cousins: Pierre-Alexis and Axel Dumas. Take a look at the history of Hermès and the family — which is now one of the richest — that turned it into a fashion powerhouse.

☆ Inside Serge Gainsbourg and Jane Birkin’s Storied Home
▼ + stars: | 1991-03-02 | by ( Joshua Levine | ) www.wsj.com time to read: 1 min

On March 2, 1991, Serge Gainsbourg went to sleep in his bed on the second floor of his house at 5 bis rue de Verneuil in Paris and never woke up. A second heart attack killed him at age 62. For all of France, his death was both shocking and unsurprising. Gainsbourg bestrode the French cultural landscape like a broken-down colossus. “He was our Apollinaire, our Baudelaire,” wrote French president François Mitterand.

Persons: Serge Gainsbourg, he’d, Gainsbourg, Apollinaire, ”, François Mitterand Locations: Verneuil, Paris, France

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