Category: Luxury Goods and Services

Dutch Prosecutors Fine Louis Vuitton Netherlands in Money Laundering Case

The New York Times – Business:
The Dutch subsidiary of the luxury brand agreed to pay a nearly $600,000 settlement in a money laundering and terrorism financing case.
It’s a Grocery Store, but Selling Food Isn’t the Point

The New York Times – Business:
Happier Grocery in New York is an entry point for people seeking a community built on inside knowledge. It’s not the only high-end grocer doing this.
Tesla’s Model S, Soon to Be History, Changed the Auto Industry

The company’s chief executive, Elon Musk, said this week that it would stop making the car, an electric pioneer in 2012, as well as the Model X.
A Watch Brand Is (Quickly) Reborn

It took new management only six months to introduce a watch at HYT, a quirky brand that uses fluorescent liquid to indicate time.
Vintage Watch Dealer Goes Her Own Way

Last year, Zoe Abelson left Hong Kong and the security of a full-time job. Now, based in New York, she searches for the watches of her clients’ dreams.
No Ikea Shelves, No Levis: The Retailers Pulling Out of Russia

Since the invasion of Ukraine began, the increasing financial and reputational risks of doing business in Russia are leading Western brands to halt operations.
No Ikea Shelves, No Levis: The Western Retail Exodus From Russia Is On

Since the invasion of Ukraine began, the increasing financial and reputational risks of doing business in Russia is leading Western brands to halt operations.
Tech Firms Are Persuading Retailers to Put A.I. Everywhere

Stores of all kinds are using artificial intelligence to sell everything from luxury handbags to hay for horses.
What the Bankruptcy of Saks Means for You

Answers to this and other questions about the financial crisis in America’s biggest luxury department store.
Saks Files for Bankruptcy as Department Stores Fight for Survival

The parent company of Saks, Neiman Marcus and Bergdorf Goodman struggled with debt, designers and customers in recent years.
Are Trains Now the Most Luxurious Way to Travel?

From Angola to Turkmenistan, sumptuously outfitted railroad cars are taking passengers on over-the-top journeys back in time.
Saks C.E.O. Steps Down as Company Struggles to Pay Down Debt

Saks Global’s executive chairman, Richard Baker, is taking over the luxury retailer he created with the 2024 acquisition of Neiman Marcus and Bergdorf Goodman.