'Good as gold' not good enough: New labels promote ethical metal
Forget how many carats — how ethical is your gold? As high-end consumers demand to know the origin of their treasures, some jewelers are ensuring they use responsibly sourced, eco-friendly or recycled gold. Specialized producers now tack a "fairmined" ecologically friendly label on their output, ...
Chinese e-commerce sites have removed Dolce & Gabbana products amid a spiraling backlash against an advertising campaign that was decried as racist by celebrities and on social media. The ads — released earlier this week to drum up interest in a Shanghai fashion show the ...
Citizen considers luxury acquisitions to attract high net worth customers
Citizen Watch Co., the country's largest watchmaker, is eyeing acquisitions that could add premium timepieces to its offerings, as the company looks to gain more high net-worth customers. The company will consider targets in the luxury segment with brands that sell watches worth about ¥2 ...
LMVH profit jumps as Japan, Europe join China luxury rebound
LVMH's first-half profit grew at the fastest rate since 2011 as Japan and Europe joined a luxury industry recovery led by China, showing double-digit sales increases in the second quarter. The world's biggest luxury-goods company said Japan was boosted by promotional activity like staging Louis ...
In a tradition dating to Biblical times, men rise at dawn in the rugged Cal Madow mountains of Somaliland in the Horn of Africa to scale rocky outcrops in search of the prized sap of wild frankincense trees. Bracing against high winds, Musse Ismail Hassan ...
Record crushed, diamond intact: 'Oppenheimer Blue' draws $58M
The "Oppenheimer Blue" diamond sold Wednesday for more than 56.8 million Swiss francs ($57.6 million) including fees, crushing the previous record for the most expensive diamond ever sold at auction. Capping a lively and even laughter-filled auction at Christie's, the hammer came down to applause ...
Small Canadian firm finds second-biggest gem-quality diamond ever
A small Canadian diamond company has found what it says is the world's second-biggest gem-quality diamond ever recovered, and the largest in more than a century, at its mine in Botswana. Lucara Diamond Corp. said on Wednesday the 1,111-carat stone was found at its Karowe ...
Market for luxury jets seen slipping for first time since 2009
Global long-term spending on private jets is starting to slow for the first time since 2009 as slumping commodity prices sap demand in emerging markets, according to an industry forecast. Deliveries for the 11 years ending in 2025 will be valued at $270 billion, Honeywell ...
A study shows that wealthy Chinese remain the No. 1 buyers of luxury products worldwide, inured to economic turmoil at home as they zigzag the globe in search of deals on everything from handbags to jewelry. The study by Bain & Company consultancy released Thursday ...
Japan's rich: acutely aware of their wealth and not flashy with it
It's often said that in Japan you may live right next door to a millionaire and not know it, because his house looks just like yours.
Made in North Korea: goods store opens to brisk business in Seoul
A shop in South Korea's capital specializing in goods made in the North has run nearly $140,000 through its tills in just three months of business, helping dispel the notion that products from the impoverished state are shoddy and undesirable. The Kaesong Industrial Complex Shop ...
Slowboat to China: No quick fix for luxury yacht firm Ferretti
When Chinese industrial conglomerate Weichai Group snapped up cash-strapped Italian luxury yacht builder Ferretti in 2012, the deal looked like a match made in heaven. Debt-laden Ferretti, known for the elegant Riva speedboats favoured by film star Sophia Loren, was the world's top maker of ...
