Archive

  • In times of economic uncertainty, with rising interest rates and inflation, alternative investments outside of traditional assets such as stocks or cash, are increasingly popular with the world's rich and wealthy. Research by the Wealth Enhancement Group highlights US investors highlights a particular growing interest in classic cars and exceptional - mostly fancy colored - diamonds among high-net-worth individuals, with the latter taking up 8th position in the top 10 of alternative investment.

  • Big luxury conglomerates are reporting disappointing results for the first half of the year. LVMH's turnover dropped 1% y-o-y to US$45.3bn, with net profits dropping 14% to US$7.9bn. Similarly Kering said its turnover decreased to US$9.8bn, down 11% y-o-y, while net profit nearly halved to US$953m. Earlier, preliminary earnings reported by Cartier indicated a 27% drop in sales in China and Swatch Group reported an 11% decrease overall.

  • At the JCK Las Vegas Sustainability Summit, the Watch and Jewellery Initiative 2030 (WJI 2030) launched the Nature Roadmap, a framework designed to guide the global watch and jewellery industry in addressing the biodiversity crisis. The roadmap outlines essential steps: Assess, Commit, Transform, and Disclose.

  • Last week, Van Cleef & Arpels revealed its Legend of Diamonds, 25 Mystery Set jewels. The process took four years to complete, from the moment Antwerp based diamond companies and manufacturers Taché and Samir Gems bought the 910ct, type IIa Lesotho Legend discovered at the Lesotho Letšeng mine, in 2018 to the 67 diamonds that were cut by Antwerp’s high-tech diamond polishing company Diamcad, to the creation of a bespoke Mystery Set collection of 25 unique pieces incorporating the polished stones.

  • In recent weeks both the Arnault family and Tiffany & Co. have made headlines when it comes to the Metaverse. Days after his father, LVMH chairman Bernard Arnault signaled his wariness of the metaverse "bubble", Alexandre Arnault changed his profile picture on Twitter and Instagram to a Cryptopunk NFT (PFP). Alexandre, who is the executive VP of product and communications at Tiffany & Co., purchased an NFT titled Punk #3167 for ETH 160, roughly USD 415,000.

  • This summer, French luxury house Balmain will debut their first fine jewelry collection of gender-neutral and socially conscious pieces. The company shared they would use ethically sourced 18-karat gold, “conflict-free minerals”, and traceable gemstones.