Diving for wine in the ocean paradise of the Maldives March 7, 2025 You don’t think of the Maldives as a wine country. It’s dry for a start, and no vines grow on these sandy atolls. But exciting things are happening here. Emerald Maldives Resort and Spa have started aging wine on the sea floor and, to show there are no depths I will not go to for [...]
No luxury markets outperformed the FTSE 100 last year March 5, 2025 The once reliable luxury market suffered last year, with even the top performers in the market only posting modest gains in a weak market. The Knight Frank Luxury Investment Index (KFLII), which tracks the performance of 10 popular investments, fell 3.3 per cent for the second year in a row. The FTSE100, meanwhile, posted gains [...]
Turnbull & Asser: The King’s tailor who hasn’t made a profit since 2015 February 24, 2025 High-end fashion retailer Turnbull & Asser, whose customers including Kind Charles III, has now been in the red for almost a decade, it has been revealed. The London-headquartered retailer, which has also supplied clothes for James Bond films, has racked up another pre-tax loss to extend its run without a profit to nine years. Turnbull [...]
Burberry set to re-enter the FTSE 100 in March reshuffle February 20, 2025 Burberry looks set to re-enter the FTSE 100 in March after its shares doubled since their lows in September. The luxury brand fell out of the FTSE 100 in its September quarterly reshuffle last year after its share price dropped nearly 75 per cent in 16 months. However, glimmers of hope for a luxury rebound, [...]
Who watches the Watches? February 19, 2025 As a newly minted Picture Editor and thus part of the management team of a then-popular left-wing national newspaper, I sat in on a discussion about why the poor ate so badly. Having only recently landed the job and as keen as mustard – and oh so naive – my feet were still planted firmly [...]
Hermès share rise as handbag-maker retains luxury crown February 14, 2025 Shares in the luxury handbag retailer Hermès rose this morning as the family-owned firm reported yet another bumper set of results. Revenue reached €15.2bn (£12.66bn) in 2024, up 15 per cent year on year, Hermès told markets this morning. The share price of the Euronext-listed company rose 2.5 per cent in early trades, meaning the [...]
The Ritz: Losses continue at iconic London hotel February 7, 2025 London’s iconic Ritz hotel has now lost more than £75m since it last turned a profit, it has been revealed. The luxury London hotel has posted a pre-tax loss of £10m for 2023, accounts filed more than five months late with Companies House show. The latest figure comes after The Ritz posted a loss of [...]
Gucci design chief De Sarno steps down as Kering targets turnaround February 6, 2025 Kering has parted ways with Gucci’s creative director Sabato de Sarno, two years after he was hired to lead a turnaround at the beleaguered brand. Sarno joined the brand in 2023 to replace Alessandro Michele, whose maximalist and genderfluid designs had defined the fashion house during his seven-year run. However, Sarno’s more paired-back direction failed [...]
Watches of Switzerland: Rolex retailer bolstered by US sales February 6, 2025 Watches of Switzerland has expressed optimism about the European luxury market and noted momentum in the US, in the latest signs the global luxury market is beginning to recover from a two-year downturn. The watch retailer said the luxury market, which has been under pressure from lower disposable income and changing trends, has stabilised. The [...]
LK Bennett: Luxury fashion brand loved by Princess of Wales slumps into the red February 5, 2025 LK Bennett, the luxury fashion brand loved by the likes of Catherine, Princess of Wales, has slumped into the red. The London-headquartered retailer has reported a pre-tax loss of £3.1m for the 12 months to 27 January, 2024, according to newly-filed accounts with Companies House. The loss comes after LK Bennett posted a pre-tax profit [...]