Dolce and Gabbana recently released a luxury perfume for dogs, costing over $100, sparking concerns from some animal welfare organizations. The fragrance, inspired by Fefé, the pet dog of brand-owner Domenico Dolce, raised questions about the impact of such products on pets. Despite being certified as suitable for animal use by the Safe Pet Cosmetics
Wealth
India is set to experience the most rapid growth in the number of ultra high net worth individuals (UHNWIs) globally in the coming years, according to Knight Frank. The city of Mumbai has emerged as Asia’s premier billionaire hub, surpassing Beijing earlier this year. Globally, Mumbai holds the third position in terms of billionaire count,
Jeff Bezos has been grabbing headlines not only for his extravagant purchases like multi-million dollar estates and yachts, but also for his recent foray into artificial intelligence investments. Exclusive data provided by FINTRX reveals that all investments made this year by Bezos’ family office, Bezos Expeditions, have been in the realm of artificial intelligence. While
The United Arab Emirates has solidified its position as the top destination for wealthy individuals looking to relocate, according to the Henley Private Wealth Migration Report. The report projects a record net inflow of 6,700 millionaires from around the world to the UAE by the end of 2024, a number nearly double that expected to
Family offices are facing a growing battle for talent, leading to the need for more competitive compensation packages. As these offices grow in size and number, they are finding themselves in direct competition with private equity firms and venture funds for top staff members. To attract and retain the best employees, family offices are enhancing
In a historic move, the luxury empire of LVMH has become the first luxury brand to sponsor the Olympics. Chairman and CEO Bernard Arnault expressed the significance of this partnership during an interview at Dior’s flagship store in Paris. After a year of negotiations, LVMH struck a deal amounting to approximately $160 million, involving brands
The global population of individuals worth $30 million or more saw an 8% increase in 2023, as reported by Altrata’s World Ultra Wealth Report 2024. The total wealth of these ultra-high-net-worth (UHNW) individuals surged by 7% to reach $49 trillion, primarily driven by a year-end stock rally. Notably, the U.S. experienced a significant growth of
The luxury fashion sector is currently facing significant challenges as economic and geopolitical uncertainties continue to persist. Hugo Boss recently cut its sales outlook, which caused its shares to drop by as much as 10%. This decision was driven by macroeconomic and geopolitical challenges, with specific mentions of struggles in the Chinese and U.K. markets.
The dynamics of wealth transfer are set to undergo a significant transformation in the coming years, with an estimated $84 trillion being passed down from aging baby boomers and older generations to their heirs. This phenomenon, dubbed the “horizontal wealth transfer,” is expected to reallocate up to $9 trillion among spouses and partners, reshaping the
The upcoming wedding of Mukesh Ambani’s youngest son is set to be a three-day extravaganza filled with opulence and luxury. The groom, Anant Ambani, is set to marry Radhika Merchant, the daughter of Viren Merchant, in a traditional Hindu ceremony at the Jio World Convention Centre in Mumbai. The guest list includes a mix of