Aston Martin shares plunge 12.4 per cent following Jefferies downgrade November 15, 2022 Aston Martin’s shares today slumped as low as 12.4 per cent following Jefferies’ downgrade. Stocks seemed to have slightly recovered since this morning as they were 9.89 per cent down around 12.30pm. In an analyst note sent this morning, the US investment bank demoted the luxury car maker from ‘hold’ to ‘underperform’, while slashing the [...]
Luxury purchases and Battersea openings help improve outlook for Watches of Switzerland November 9, 2022 Watches of Switzerland has upgraded its outlook for the second half of the financial year, following a significant uptick in the purchase of luxury items. The London-based watch-seller experienced a 30 per cent increase in revenue for its luxury watches to more than £660m up until 30 October. It reported a 23 per cent increase [...]
Bentley’s profits more than double to £495.5m despite global headwinds November 2, 2022 Bentley’s profits have more than doubled to €575m (£495.5m) despite ongoing industry and economic headwinds. In the nine months ended 30 September, the luxury car maker’s earnings soared by 109 per cent, while return on sales surged to 23.1 per cent – the highest in the UK marque’s 103-year history. Revenue went up 28 per [...]
Why locals prefer Aspen in the summertime July 5, 2022 Even from the air, it’s obvious Aspen isn’t quite like any other town. Situated at an elevation of 2,438m and surrounded on all sides by the snow-topped Rocky Mountains, this remote enclave even requires special pilot training to land at its tiny airport, dubbed one of the most dangerous in the world thanks to its [...]
Château Capitoul is a delicious combination of rustic and luxurious July 5, 2022 Pulling up to Château Capitoul at night gives only the smallest hint towards what to expect. The pitch black countryside just outside of Narbonne on the Mediterranean coast gives way to a long, tree-lined approach, at the end of which rests an imposing, underlit neo-gothic Château, which wouldn’t look out of place on a windswept [...]
Rolls-Royce Motor Cars sales soar as demand for luxury vehicles surges January 10, 2022 Despite Covid concerns and ongoing supply chain issues, luxury car maker Rolls-Royce has reported record highs in 2021, with sales going up 49 per cent compared with the previous year. Delivering the highest annual sale since its foundation in 1906, Rolls-Royce shipped 5,586 cars, registering record figures in most regions including China, the Americas and [...]
Italy’s luxury brand Zegna to debut on Wall Street after $3bn SPAC deal December 20, 2021 Italian luxury company Zegna will go public in New York today after completing a merger with a US special purpose acquisition company (SPAC) in a deal with an expected enterprise value of $3.1bn. “Today marks a monumental milestone for Zegna and is the beginning of an exciting and pivotal new chapter in our 111-year legacy,” [...]
Good timing: Watches of Switzerland’s revenues rise amid resurgent consumer appetite for luxury goods December 9, 2021 Watches of Switzerland has reported a 44.6 per cent year-on-year rise in revenues, as consumer appetite for luxury goods returns post-lockdowns.
British icon Selfridges becomes Thai: Weston family agrees £4bn sale December 2, 2021 Selfridges’ owner the Weston family has agreed to sell the iconic high-end department store chain to Thai private conglomerate Central Group for £4bn. The Canadian billionaires have reached an agreement with Central Group in the last few days, hoping to close the deal by the end of the month, the Times reported. Founded by American [...]
Luxury group Richemont in talks with Farfetch to shed stake in lossmaking Net-a-Porter November 12, 2021 Swiss luxury goods group Richemont is in “advanced talks” with the UK’s Farfetch over a deal to sell on its minority stake in the lossmaking Yoox Net-a-Porter (YNAP) online luxury retailer. It’s a move that is likely to butter up investors that have long been critical of its stake in YNAP, which has lost its [...]