In a virtual press conference, real estate consultant Knight Frank released The Wealth Report 2024 , highlighting that 17 per cent of the investable wealth of Indian Ultra-high Net Worth Individuals (UHNWI) is allocated towards luxury or passion investments.
Influencers have helped turn on a spigot of selling VIP gifts on the secondary market, driving up demand in the luxury-loving public. Counterfeiters have taken notice.
Russian President Vladimir Putin gifts North Korean leader Kim Jong Un a Russian-made car, highlighting their special relationship. The gift raises concerns about violating a UN resolution banning luxury items to pressure North Korea over its nuclear weapons. Kim s sister, Kim Yo Jong, expressed gratitude, emphasizing the leaders personal relationship and increased cooperation between their countries. Putin s gift follows their summit in September, where he showcased his Aurus Senat limousine, the first Russian luxury car brand, indicating closer ties despite international sanctions.
LONDON (Reuters) -Pandora, the world's biggest jewellery maker, said on Wednesday its performance since the start of the year has been "healthy" with high single-digit sales growth, as it announced a share buyback programme after a strong run. Pandora, which sells charm bracelets with prices ranging from $60 to more than $2,000, has been a rare bright spot among retailers and brands targeting aspirational consumers with affordable luxury items. The company aims for organic revenue growth of 6%-9% in 2024, it said, after reporting strong sales of its silver charms and bracelets which have helped its share price to more than double since the start of last year.