Eva Morletto

Javier Milei’s ascension to power has shaken up the Argentine economy. For the luxury sector—long hampered by exchange controls and import restrictions—the first few months of the new administration were greeted with enthusiasm. Two and a half years later, the picture is more nuanced.

Fueled by its jewellery business and a successful refocusing strategy, the Swiss group Richemont has just published impressive financial results for its first quarter of 2026-2027.

According to Julius Baer’s 2026 Global Wealth and Lifestyle Report, Singapore retains its position as the world’s most expensive city for high-net-worth individuals for the fourth consecutive year, while the Swiss city of Zurich ranks second, ahead of Monaco, London, and Hong Kong.

Less than a year after the death of its founder, Giorgio Armani, the Italian group has commissioned the Boston Consulting Group (BCG) to develop several strategic segments, notably leather goods and hospitality.

On June 23, the Swiss group Richemont inaugurated the expansion of its leather goods facility in Scandicci, near Florence, through its subsidiary PRF (Pelletteria Richemont Firenze).

The Courtin-Clarins family is continuing its strategy to expand its presence in the high-end segment of the beauty market and is diversifying its product offerings. The company, founded in 1954 by Jacques Courtin, has just launched its premium hair care line, Hair Therapy, which features five products designed to provide a complete hair care routine.

The diamond industry is facing a historic turning point. The giant De Beers announced yesterday that it was suspending production at Venetia, South Africa’s largest diamond mine, for two years.

Internal changes are shaking up the Coty Group and appear to be accelerating its ongoing turnaround plan. The American beauty giant, which owns brands such as Gucci Beauty, Chloé, and Rimmel, has just announced a reorganization of its governance to speed up the execution of its plan, dubbed “Coty.Cutated.”

The Italian investment fund Vam Investment, in partnership with Umberto Macchi di Cellere, former CEO of Bulgari Horlogerie, has announced the creation of the Chaumont Group, a new industrial hub based in Neuchâtel.

Albania is facing growing protests over a hotel project led by Jared Kushner, Donald Trump’s son-in-law

According to a source close to the LVMH Group, Chaumet has moved up the acquisition of 100% of the Italian manufacturer B.M.C. S.p.A. by two years; the deal was originally scheduled for 2028. The Parisian high-end jewelry house, owned by LVMH since 1999, had taken an initial stake in the Valenza, Piedmont-based company in 2020.

Following a €100 million capital injection in November 2025 from Kering and Mayhoola, Valentino is continuing to restructure its finances through debt refinancing.

After several months of creative collaborations, Chanel has just officially announced the acquisition of the historic Parisian shirtmaker Charvet, bringing to an end 188 years of independence for one of the most iconic houses in French heritage.

Within a few days of each other, Chanel inaugurated a new industrial facility—estimated to cost 150 million euros—for perfume manufacturing in France, and launched its magazine Coco, dedicated to beauty culture.

The group, formed through the merger of Dufry and Autogrill, announced on June 23 the acquisition of 100% of the operations of DFS Okinawa, a subsidiary of DFS Group, which is itself majority-owned by LVMH.