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THE TRUTH ABOUT: 11 - The Untold Story

Innovations in beauty tech for 2024, from robot-powered nail art to AI-enhanced make-up

Innovations in beauty tech took centre stage at CES 2024. Laura Feinstein reports for Wallpaper* on a selection of key trends to follow

Wallpaper

Oxfam Predicts Trillionaire Within Decade Amidst Growing Global Inequalities

Oxfam warns that the world could have its first trillionaire within a decade, highlighting growing inequalities exacerbated by the pandemic.

Top News

CEO behind Drake's $400K bed doesn't consider his mattresses to be 'luxury products'

Jan Ryde, the fifth-generation CEO of Hästens, is the supplier to the Swedish Royal family and his beds have appeared in Netflix hit Emily in Paris.

Fortune

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LVMH is fed up of fake goods being sold on TikTok—so it is in talks to join forces with the video platform to stop it

The issue of counterfeit luxury goods online goes far back—well before TikTok became a Gen Z craze.

Fortune

Gen X drugmaker is coughing up millions for Paris Olympics sponsorship to show Gen Z and millennials it's a cool place to work

Sanofi is hoping the exposure will help put the brand in front of prospective young talent which it has struggled to recruit.

Fortune

Welcome to the era of 'normalization': Why Wall Street is convinced consumers will get comfortable with some economic pains in 2024

Taking a look across the outlooks for next year, there's one word that stands out from Wall Street. "Normal."

Fortune

LVMH and Kering felt the pinch in 2023—but a new type of luxury is gaining a share of consumers' wallets

“What we’ve observed in 2023 is a rebalancing of customer appetite," Bain expert says of the luxury industry.

Fortune

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'The rich will only get richer' and defy luxury slowdown, says group behind $139,000 speakers

Bang & Olufsen's CEO believes his shoppers will only get wealthier, after the company sold more high margin products last quarter.

Fortune

Hermès Billionaire Decides To Leave His Fortune To Former Gardener

Nicolas Puech has already initiated legal proceedings for the same.

International Business Times UK

Hermès heir plans to adopt 51-year-old gardener to pass on $11 billion fortune

Nicolas Puech, who is unmarried and childless, is a fifth-generation heir of Thierry Hermès, who founded the luxury fashion house in 1837.

Fortune

Fashion Power 100 revealed: the hottest industry style players ranked

From designer heavyweights to industry titans and trending ingenues, the Standard has ranked the style world’s most significant figures of 2023 from one to 100

Evening Standard

Luxury property billionaire might have seen his fortune become completely worthless overnight after his firm filed for insolvency

Billionaire real estate mogul Benko has reportedly been trying to sell his yacht amid the collapse of his property empire.

Fortune

Twelve billionaires’ climate emissions outpollute 2.1m homes, analysis finds

Research shows impact from lifestyles and investments of likes of Jeff Bezos, Bill Gates and Elon Musk

The Guardian - UK

Burberry joins LVMH and Gucci in the luxury slump as brand says it may miss its revenue target for the year

Burberry's half-year sales inched up just a little, pointing to a luxury downturn that its rivals like LVMH and Kering have been experiencing.

Fortune

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Evening Standard

Sephora UK's Pauline Dolle-Labbe on the new Stratford store and how the beauty giant is doing in London

Sephora in March launched its first UK physical store since exiting its last ones here by 2005, and now a second London shop will open

Fortune

Prices of high-end Rolex and Patek Philippe watches hit a 2-year low as luxury slump spreads beyond LVMH and Gucci

Pre-owned luxury watches saw a surge in demand during COVID-19—but there's been a sharp reversal since.

The Conversation

Phoebe Philo's fashion frenzy: why her much-anticipated collection sold out within hours

British luxury fashion designer Phoebe Philo OBE, debuted her long-anticipated eponymous label to critical acclaim at the end of October. Despite the eye-watering price tags, the small range of clothing, accessories, jewellery and footwear – only available on the Phoebe Philo website – virtually sold out within hours.

Fortune

Cartier owner Richemont sales disappoint as economic pressures start to pinch even the rich

Luxury giants including Richemont and LVMH are seeing a slump in sales after a high-end spending boom during the COVID-19 pandemic.

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Fortune

LVMH strikes sunglasses deal targeting entry-level shoppers as luxury spending slows down

LVMH plans to expand eyewear brand Barton Perreira beyond the U.S.—starting with Europe.

The Guardian - UK

The perfect fit: how sport and fashion became a dream team

Gucci tennis bags at Wimbledon, Arsenal stars on Burberry’s front row … the link between the stadium and the catwalk is closer than ever

Fortune

Luxury shoppers are buying less Balenciaga and Gucci, in latest signs of an end to the ‘roaring 20s’

Economic pressures have added to the list of challenges faced by the luxury giant behind Gucci and Yves Saint Laurent.

The Guardian - UK

‘Hallelujah!’ the wait for Phoebe Philo’s comeback is almost over

The wait for her latest creations has only added to the mysteries of the woman who made Céline a talismanic name

Fortune

LVMH boss Bernard Arnault has just lost his spot as the world’s second-richest person to Amazon founder Jeff Bezos

LVMH CEO Bernard Arnault has seen his wealth overtaken by that of Amazon founder Jeff Bezos.

Fortune

Birkenstock tripped over its own sandals trying to take a step in the IPO world

Over its 250-year history, Birkenstocks have endured wars, fashion revolutions and more—but can they endure the IPO market?

Barchart

LVMH Stock: Is the Luxury Retailer a Value Play After Earnings?

LVMH stock looks like a cheap option as the firm comes off a muted second quarter.

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