Sotheby’s hands huge pay day to billionaire owner Patrick Drahi July 10, 2024 Sotheby's paid a huge dividend to its billionaire owner Patrick Drahi despite a tick down in its financial performance amid reports a minority stake could be sold to ease debt concerns.
Mulberry makes surprise chief executive change amid luxury spending struggles July 9, 2024 The luxury brand has suffered this year as wealthy shoppers continued to slow their spending.
Profit falls at Watches of Switzerland but Rolex seller maintains guidance June 27, 2024 The rolex seller reported that pretax profit fell 40 per cent in the year to April, falling from £155m to £92m.
Ferrari Group strikes gold as shipping bottlenecks give way to record sales June 20, 2024 Ferrari Group, which specialises in shipping jewelry and luxury goods across the globe, has reported the strongest sales in its 50 year history as ongoing efforts to expand its catchment area begin to pay off.
Mandarin Oriental: Five-star London hotel issues warning ahead of Trump v Biden rematch June 12, 2024 The luxury Mandarin Oriental hotel in London's Hyde Park has warned that the upcoming US election between President Joe Biden and Donald Trump is impacting the number of international guests heading to the capital.
Burberry boss misses out on bonus after ‘challenging’ year for luxury label May 30, 2024 The chief executive of luxury label Burberry will not receive a bonus for its latest financial year after its results underperformed during a "challenging" year.
Bentley names Porsche boss as new chairman and chief executive May 28, 2024 Luxury car maker Bentley has named a top executive at Porsche as its new chairman and chief executive.
Bicester Village: Shoppers eyeing bargains on luxury help sales and profits surge May 23, 2024 Shoppers seeking a bargain on luxury helped the company behind Bicester Village, which was founded by the family that owns the Empire State Building in New York, increase its sales and profits last year, according to newly-filed accounts.
‘Old Money’ Tiktok trend drives demand for Rolex’s as buyers willing to pay more for ‘immediate access’ May 18, 2024 The boss behind one of Britain’s best known sellers of Rolex and Tag Heuer watches said there has been a surge in interest for luxury goods from Gen Z shoppers as they look to emulate the dress sense of the upper classes.
Losses widen at owner of five-star London hotel The Stafford and Michelin restaurant May 17, 2024 The owner of The Stafford, a five-star hotel in London as well as a Michelin-starred restaurant, saw its losses widen in 2023 after the decline of staycations and the worsening economy in the UK.