Author: theparknews

(Bloomberg) — LVMH is investing in designer outdoor brand Moncler SpA in a deal that gives the French luxury brand a seat on the Italian company’s board of directors.Most Read Articles on BloombergLVMH Moet Hennessy Louis Vuitton SE will buy a 10% stake in Double R, an investment company controlled by Moncler Chairman and CEO Remo Ruffini, which owns a 15.8% stake in Moncler, the companies announced in a statement on Thursday. did. Financial terms of the deal were not disclosed.Moncler has become a popular brand, with down jackets priced at 5,500 euros (about $6,147). Earlier this year, the label…

Suzanne Frisbie of The Corcoran Group, Whitney McGurk of Brown Harris Stevens, Dana Koch of The Corcoran Group, Margit Brant Palm Beach Margit Brant and Worth Avenue Clock (Margit Brant, The Corcoran Group, Brown Harris Stevens, Getty)With the heat of summer behind us, Palm Beach’s busy season is fast approaching and real estate agents are getting ready. Island residents are slowly returning to town, which means they’re looking for homes. “Oh, it’s busy. September is busier than we expected,” said Margit Brandt, an agent with Premier Estate Properties. “We’re expecting it to be a very busy season.” Real estate agents…

We recently published a list of the 10 best residential real estate stocks to buy, and in this article we’ll take a look at how Toll Brothers, Inc. (NYSE:TOL) stands up against other residential real estate stocks to buy.Home buyers have more negotiating power than sellers, economists sayThe interest rate hikes that began in March 2022 as a fight against inflation are coming to an end as the Federal Reserve Board decided to cut interest rates for the first time since 2020. The cuts began with a half-percentage point cut on September 18. This long-awaited move lowered interest rates to…

Mortgage rates have fallen significantly over the past few months: According to data from Zillow, the current 30-year mortgage rate is 5.70%, down 80 basis points since July 22. The 15-year mortgage rate is 5.04%, down 71 basis points from the same time in July.The Federal Reserve is set to cut the federal funds rate six more times by the end of 2025, meaning mortgage rates will probably continue to fall. With interest rates already dropping significantly, now may still be a good time to buy, especially since competition is likely to increase as rates continue to fall. But if…

A joint venture between China’s SAIC Motor and JSW Group has announced that it will launch a new luxury car brand and launch two models in early 2025.The joint venture, called JSW MG Motor India, has unveiled a new premium brand called MG Select.MG Select targets the growing ‘affordable luxury car’ segment in India and in phase 1, it will see the establishment of ‘new-age’ luxury car experience centres in 12 key cities across the country, JSW MG Motor India said in a statement.MG Select will offer a range of vehicles, with a focus on NEVs, including plug-in, hybrid and…

(Bloomberg) — Tupperware Brands Inc. is preparing to file for bankruptcy as soon as this week after a years-long turnaround effort amid sagging demand, people familiar with the matter said.Most read articles on BloombergThe household goods brand, a food storage icon for nearly a century, plans to seek court protection after hiring legal and financial advisers following a default on its debt, said the people, who asked not to be identified discussing confidential information.Following the news, the company’s shares fell by more than 50% as of 3:53 p.m. New York time.The bankruptcy proceedings began after protracted negotiations between Tupperware and…

The Ritz-Carlton, a wholly owned subsidiary of Marriott International, has expanded its portfolio with the opening of a new luxury hotel in Morocco, The Ritz-Carlton Rabat Dar es Salaam.Set amid 440 hectares of forest and gardens, the hotel is close to the Royal Golf Dar es Salaam and features three 45-hole golf courses.Helen Layton, vice president, Europe, Middle East and Africa, Marriott International Luxury Brands, said: “The opening of The Ritz-Carlton Rabat Dar es Salaam marks an important milestone for the Ritz-Carlton brand, expanding our footprint on the African continent and celebrating our first hotel in Morocco.”Our guests can expect…

Angry Houston residents blame luxury community developer for paying thousands for amenities they never receivedWhen Jennifer Chao moved to the Mediterranean Forest community in 2020, she was promised a luxury golf course community with high-end amenities, but she quickly realized something was amiss.For starters, the home she bought for $300,000 didn’t match the layout she was given, and many of the luxury amenities, including a golf course, didn’t exist or have yet to be built.Don’t Miss a Beat”They said this is a great location and it’s luxury housing … Marty Golf Luxury Homes … but where is the golf course?”…

In this article, we look at the top 11 luxury clothing stocks to invest in right now. In this article, we look at how Nike Inc. (NKE) stands in relation to other luxury clothing stocks to invest in right now.Overview of Luxury Sector Trends The luxury segment in retail is a major growth driver for the industry. Luxury goods are primarily seen as status symbols, encouraging discretionary spending among customers with high purchasing power.According to a report by Mordor Intelligence, the luxury retail market is expected to be worth $110.13 billion in 2024 and grow to $151.32 billion by 2029,…

(Bloomberg) — For the first time in two decades, China no longer appears to be the driving force behind global oil demand, a development that is unchartered territory for many of the traders and executives gathered at the Organization of the Asia-Pacific Petroleum Exporting Countries oil meeting in Singapore this week.Most read articles on BloombergChina’s economic performance is dire, with a struggling real estate market and weak consumer confidence as it struggles to recover from the pandemic-induced slowdown. This, combined with structural changes brought about by an aging population, the energy transition and a growth model less dependent on large…