Outlet malls have been an American staple for shoppers since the 1930s. But they’re not doing as well as they once were. Historically, outlets were attached to the factories where apparel was made, selling out-of-season, overrun or faulty merchandise at a discount to employees. Soon enough, they expanded to the general public and became a … Read more
People walk by the New York Stock Exchange (NYSE) on June 18, 2024 in New York City. Spencer Platt | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your … Read more
During the six years that I was lucky enough to live in the center of Paris, I learned a lot about the ups and downs that come with being a Parisienne. I would move back in a heartbeat. But I also feel for international visitors who arrive with a romantic vision of beautiful perfection, only … Read more
The iconic Raffles hotel brand announced the opening of Raffles Jaipur on July 8 — the second to open in the Indian subcontinent. The first, Raffles Udaipur, opened in 2021. Both hotels are in Rajasthan, a northwestern Indian state known for its stunning forts and historical palaces, like the Hawa Mahal. Jaipur, the capital city … Read more
Pedestrians walk past a German luxury fashion house Hugo Boss store in Shenzhen Bao’an International Airport. Alex Tai | SOPA Images | LightRocket | Getty Images) Hugo Boss shares plunged as much as 10% Tuesday after the company cut its sales outlook, becoming the latest high-end fashion line to warn of persistent woes in the … Read more
China’s rich are turning their backs on flaunting their wealth as the economy faces headwinds, putting the country’s luxury market under pressure. D3sign | Moment | Getty Images China’s rich are growing more cautious about flaunting their wealth as the economy faces headwinds, putting the country’s luxury market under pressure. There are emerging signs of … Read more
Pedestrians walk past a Burberry Group Plc store, left, in the Causeway Bay shopping district of Hong Kong. Xaume Olleros | Bloomberg | Getty Images Shares in Burberry plunged over 15% in early trading on Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend. … Read more
Anant Ambani fiancée Radhika Merchant pose for a photo on the red carpet during their sangeet ceremony at Jio World Centre in Mumbai. Sopa Images | Lightrocket | Getty Images All eyes are on this weekend’s mega wedding in India, where the youngest son of Asia’s wealthiest man prepares to tie the knot with his … Read more
When a woman in her early twenties requested to book Vicky Borman’s one-bedroom Heritage-listed cottage in the English village of St Neots last summer, something didn’t feel right. The user had no reviews on her Airbnb profile, so Borman, who has ‘Superhost’ status on the platform, took to social media to investigate. There it was … Read more
With New York’s congestion pricing plan indefinitely delayed, traffic into Manhattan this summer is set to be gridlocked as usual. But travelers staying in some of the city’s top luxury hotels can avoid the highways altogether. Announced Tuesday, Marriott International Luxury Group is providing free helicopter transfers from John F. Kennedy International Airport and Newark … Read more
