Business & Trends
Collectors will remember March 11, 2021 as the day that changed the art market. At Christie’s, a piece of digital art sold for nearly $70 million, a record for the crypto-art industry that shot digital artist Beeple straight into the pantheon of superstardom and instantly made him the third most-valued living artist in the world (after Jeff Koons and David Hockney).
In a speech aiming at supporting hospitality professions, President Macron designated Covid-19 as the number one enemy of the famous “French way of life” (Art de vivre), showcased at length during the pandemic… a very fluid concept.
While the pandemic has not dampened the global appeal of yachting, Italy is experiencing an unprecedented boom in its nautical sector and is seeing the emergence of big name alliances.
On the auction market, 2020 showed mixed results. Led by the charismatic Aurel Bacs, the house Phillips in Association with Bacs & Russo is however holding its own, with a record year in the watch sector. A performance that contrasts with a struggling watchmaking industry.
The role of merchandising has been greatly affected by Covid-19 restrictions. New strategies are emerging to strengthen the interrelationship between a physical shop and digital platforms.
By Elena Cozza
Facing the worst crisis in their history, luxury hotels are left with no other choice but to reinvent themselves. This will mean digitalization, new concepts and better sanitary risk management. That is Philippe Rubod’s belief, CEO of Swiss Hospitality Global.
In the philanthropy field, more than ever, strength is in unity. American billionaires are known for their generosity, yet young generations are ever more eager to work for a better world.
Valentine’s day and Chinese New Year’s are traditionally the first two sales milestones of the year, an overview of the luxury industry’s pulse. And this year, both dates were under particular scrutiny. Can we finally talk about a recovery in 2021?
After a year-long break in their growth, LVMH and Kering have to answer challenges linked to recovery, while facing changes in the luxury fashion sector. To do so, their fashion brands seem to have opted for opposite strategies.
By Sandra Krim
Even though more and more counterfeit products are being seized at customs all the time, and despite the boom in digital certificates for luxury products, counterfeit sales remain a growing problem in the luxury sector. Even more worrying: purchasing fake products online is actually appealing to the younger generations.
The decrease in watchmaking production over the year 2020 has had consequence on the Swiss industrial landscape. In order to protect it, Audemars Piguet wants to launch an initiative that would enable a recovery, with Swiss made as its key challenge. Exclusive interview of François-Henry Bennahmias, CEO of the brand.
Philanthropy has rapidly become a quick fix to the Covid-19 pandemic. Companies, foundations and other private donors have redirected important amounts of money in favor of the healthcare sector. As well as towards the poorest.
While blockchain is increasingly used as a certification tool, it still isn’t sufficient enough against counterfeit goods. Luxury brands also need to ensure a solid client relationship combined with strong values.
Watchfinder &Co, leader in pre-owned watches, is multiplying partial exchange programs with brands. Its cofounder Matt Bowling sees here the best option for watchmaking to increase its new watch sales.