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Luxury Goods

All articles tagged with #luxury goods

Luxury Goods' Shift from Durability to Disposability
business1 month ago

Luxury Goods' Shift from Durability to Disposability

Recent viral videos and consumer complaints reveal that some high-end luxury brands like Miu Miu and Maison Margiela are producing products that fall apart quickly, raising concerns about declining quality in the luxury sector due to cost-cutting, outsourcing, and a focus on profits over craftsmanship. This has sparked social media outrage and calls for industry reform, with experts noting a shift away from traditional artisanal practices and a rise in mid-market brands emphasizing quality and value.

via CNN|
#brand-outsourcing#business#consumer-trust
NYC pawn shop owner admits to fencing Joe Burrow's stolen items
crime7 months ago

NYC pawn shop owner admits to fencing Joe Burrow's stolen items

A New York City pawn shop owner pleaded guilty to buying and selling stolen luxury items, including property stolen from NFL quarterback Joe Burrow's home, as part of a larger organized theft operation targeting affluent residences across the U.S. The owner and his co-manager, both involved in a nationwide scheme, face significant prison time and restitution, highlighting ongoing issues with organized burglaries targeting high-profile individuals.

via ESPN|
#burglary#crime#joe-burrow
Jewelry Sales Surge Amidst Luxury Goods Slump in U.S.
business8 months ago

Jewelry Sales Surge Amidst Luxury Goods Slump in U.S.

Luxury jewelry sales in the U.S. are outperforming other categories like leather goods and handbags, with jewelry spending increasing 10.1% year over year in May, driven by its perception as an investment and sentimental item, despite overall luxury spending declining. High-end jewelry brands are seeing increased spending per customer, even as some lost customers, and gold price rises support jewelry purchases. Meanwhile, handbag and watch categories face challenges, with prices rising significantly and mixed sales results, amid broader economic uncertainties and geopolitical tensions.

via CNBC|
#business#jewelry#luxury-brands
business1 year ago

Top 25 Wealthiest Families Globally in 2024

The Walton family, founders of Walmart, top Bloomberg's 2024 list of the world's richest families with a net worth of $432.4 billion, largely due to an 80% rise in Walmart stock. They are followed by the Al Nahyan family of the UAE and the Al Thani family of Qatar. The Hermès family and the Koch family round out the top five. The Walton family's wealth is primarily from Walmart, but they have diversified into other sectors like sports and philanthropy.

via Robb Report|
#bloomberg-ranking#business#luxury-goods
Dubai's Viral Chocolate Sparks European Craze and Smuggling
business1 year ago

Dubai's Viral Chocolate Sparks European Craze and Smuggling

The viral success of "Dubai chocolate," a pistachio-filled delicacy created by British-Egyptian entrepreneur Sarah Hamouda, has sparked a craze across Europe, with bars selling for over €100. The trend, fueled by a TikTok video with over 100 million views, has led to widespread demand and even smuggling attempts. Copycat versions have emerged, including one by Swiss manufacturer Lindt, which saw customers queuing for hours in Germany. The high demand has turned the chocolate into a lucrative resale item, with some bars fetching up to €300 online.

via Fortune|
#business#chocolate-smuggling#dubai-chocolate
Luxury Cheese Heists: The Rise of Dairy Crime in Britain
crime1 year ago

Luxury Cheese Heists: The Rise of Dairy Crime in Britain

A recent heist involving 22 tonnes of luxury cheese from Neal's Yard Dairy highlights a growing trend of food-related crimes, particularly targeting high-value items like cheese. The theft, dubbed "the grate cheese robbery," underscores the increasing value of cheese due to rising production costs and global food price inflation. Organized crime networks are exploiting the food industry, often smuggling stolen goods to markets with high demand, such as Russia, where sanctions have created a black market for Western foods. Efforts to combat such crimes include innovative security measures like microchipping cheese.

via BBC.com|
#cheese#crime#food-industry
Ex-CIA Analyst Sue Mi Terry Charged with Spying for South Korea
us-news1 year ago

Ex-CIA Analyst Sue Mi Terry Charged with Spying for South Korea

Former CIA analyst Sue Mi Terry has been charged with acting as a secret agent for South Korea's intelligence service in exchange for luxury items and covert funding. Terry, who worked for the US government until 2011, allegedly failed to register as a foreign agent and shared non-public information with South Korean intelligence. Her lawyer claims the allegations are unfounded and distort her work as an independent scholar and news analyst.

via Sky News|
#cia#espionage#indictment
Ex-CIA Analyst Indicted for Allegedly Spying for South Korea
international-affairs1 year ago

Ex-CIA Analyst Indicted for Allegedly Spying for South Korea

Former White House official Sue Mi Terry has been indicted for allegedly acting as an unregistered agent for South Korea, receiving luxury goods and gifts in exchange for advocating South Korean policy positions and sharing nonpublic US information. Terry, who is now a senior fellow at the Council on Foreign Relations, denies the allegations, claiming they distort her work as an independent scholar. The Council has placed her on unpaid leave pending investigation.

via The Guardian US|
#espionage#international-affairs#legal-charges