People walk by the New York Stock Exchange (NYSE) on June 18, 2024 in New York City. Spencer Platt | Getty ImagesA 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,...
Category: Wealth
Hugo Boss shares plunge 9% as firm cuts 2024 guidance amid slumping China demand
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...
Women are set to inherit trillions of dollars in the great ‘horizontal wealth transfer’
Charday Penn | E+ | Getty ImagesUp to $9 trillion is expected to be passed along to spouses and partners in the coming years as part of what's being called "the horizontal wealth transfer," according to a new report.Over the next 20 to 30 years, aging baby boomers and older...
The five secrets to Ferrari’s success as a luxury brand
In the world of luxury, Hermès is arguably the gold standard.Its sales are growing double digits even as other luxury companies post declines or dramatically slower growth. Wealthy customers lucky enough to be anointed as Birkin-bag worthy can purchase a Birkin 25 for about $11,000 and flip it the same day...
Millionaires are abandoning the UK in droves, new research shows
Zhangkun | Moment | Getty ImagesLONDON — A record number of millionaires is expected to leave the United Kingdom this year, according to new research, with this year's general election expected to further exacerbate the exodus.The Henley Private Wealth Migration Report indicates that Britain will experience a net loss of...