The eBay and British Vogue Luxury Resale Synergy Taps a Rapidly-Expanding Market
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Conspiculous Luxury Consumption in China Challenges Growing Income Inequality
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Top model He Cong graces the pages of Marie Claire China’s [IG] June 2024 issue. The Hunan-region beauty is styled by Austin Feng in red-inspired, fashion elegance lensed by Zhong Lin [IG].
China’s Monitoring of Flaunting Money on Social Media
This month [May 2024], China’s new ‘Clear and Bright’ campaign swung into action on social media. The campaign vows to crack down on influencers who create "ostentatious personas to cater to vulgar needs, and deliberately display extravagant lifestyles filled with money".
Jing Daily weighed in this morning, writing that across Chinese social media platforms like Weibo, Tencent, Douyin, and Xiaohongshu all reflect suspended accounts this week.
China Tackles Its Growing Income Gap Culture
The drive to reduce ostentatious displays of wealth [or internet cleanup, as Jing Daily calls it] “is part of a larger effort by Chinese authorities to curate and control social cultures to tackle China’s widening income disparity and wealth inequality.”
Read MoreThis Is Sotheby's? The Stories Kristina O'Neill Can Tell As Head of Sotheby's Media
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Kristina O’Neill, former EIC of WSJ Magazine is now installed at Sotheby’s as Head of Sotheby’s Media and editor-in-chief of a revamped Sotheby’s Magazine.
What an exciting creative road lies ahead of her. AOC raises this topic because O’Neill seems perfectly primed to tap into the creative and business evolution going on at the world’s largest auction house. Visually, it’s one that expands the customer base and also acquires “heart” along the way.
O’Neill can catch the modernized Sotheby’s football and run with it. Her decade of work at WSJ Magazine reveals her status as a change agent. Only someone like AOC who can easily call up a decade of her work for review is aware that O’Neill was featuring Black talent long before the summer of 2020.
British-Ghanaian photographer Campbell Addy comes to mind. Outside of a small feature in British Vogue in 2018, Addy shot for WSJ Magazine before any of the other major magazines.
Read MoreLVMH Reports Record 2023 Financial Results Adding $30 Billion to Market Value
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Louis Vuitton, Moët & Chandon and Hennessy [LVMH] reported 2023 year-end sales of 86.15 billion euros [$93.46 billion], representing a 10% organic increase in fourth quarter and a 13% organic growth yearly increase against 2022.
Profit from recurring operations stood at €22.8 billion for 2023, up 8%. The current operating margin remained stable with respect to 2022. In addition, LVMH has advised the markets that it anticipates no further price increases across its business units in 2024.
Now that he is back to being the richest man in the world, thanks to a 12% rise in LVMH’s stock price on Friday, Arnault’s practice of engaging his children in collective conversations around every aspect of the entire LVMH business over Zoom lunches — early breakfast in New York — reminds us that the family is not a Rupert Murdoch-like clan of cannibals.
Read MoreAngelina Jolie Launches Atelier Jolie For Self-Expressive Humanists Clients and Global Creators
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