A customer carries merchandise from a Hermes store on Feb. 14, 2025.Scott Olson | Getty ImagesEurope's beloved luxury brands may be largely sheltered from the initial effects of sweeping U.S. tariffs, but the risks of a wider economic downturn spell bad news for the sector's long-awaited recovery.Shares of European luxury...
Category: Wealth
Manhattan’s luxury real estate market sees best first quarter in six years
People walk by a view of residential luxury towers along nicknamed Billionaires Row, a stretch of 57th Street that holds the majority of Manhattan’s supertall luxury towers on May 16, 2022 in New York City. Spencer Platt | Getty Images News | Getty ImagesManhattan apartment sales jumped 29% in the first...
Ferrari says it will raise prices by 10% on some models to offset auto tariffs
The Ferrari logo is seen outside the Ferrari headquarters in Maranello, Italy.Ciancaphoto Studio | Getty Images Sport | Getty ImagesFerrari said Thursday it will raise prices by 10% on certain models after April 1 in response to new U.S. auto tariffs, adding up to $50,000 to the price of a...
Tariff fears are raising construction costs by up to 20%, says Related Group CEO
Related Group CEO Jon Paul Pérez.Courtesy of Future Proof and Triangle BLVDBuilding contractors are already hiking prices as much as 20% to offset potential tariffs, a move that could also raise prices of new condos and homes, according to the CEO of developer Related Group.President Donald Trump has imposed 25%...
Kering shares plunge 11% after Demna Gvasalia named as Gucci’s artistic director
A Gucci store, operated by Kering SA, in the Sanlitun area of Beijing, China, on Saturday, Oct. 12, 2024. Bloomberg | Bloomberg | Getty ImagesShares of Kering plunged on Friday after the company announced that Demna Gvasalia would take the reins as new artistic director of its ailing Gucci fashion line.Gvasalia,...