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%...
Category: Wealth
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,...
Trump’s proposed ‘gold card’ visa comes with a hidden tax break for the wealthy
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 inbox.President Donald Trump's proposed $5 million "gold card" for U.S. residency would be one the most expensive...
Europe’s luxury sector is showing signs of revival — but China weakness and tariff threats loom
A Gucci luxury goods store in the Galleria Vittorio Emanuele shopping mall in Milan, Italy.Bloomberg | Bloomberg | Getty ImagesEurope's troubled luxury sector is showing signs of revival after an upbeat earnings season. But continued weakness in China — and the prospect of U.S. tariffs — could leave even the...
Birkin bag maker Hermes posts better-than-expected jump in fourth-quarter sales
A Hermes Birkin bag in a window display at a KaDeWe department store in Berlin, Germany, on Friday, Jan. 3, 2025. Bloomberg | Bloomberg | Getty ImagesHaute couture fashion house Hermes on Friday reported a better-than-expected jump in fourth-quarter sales, proving still strong demand for the most exclusive products in an...