"Clearly, we look close and every day on the situation. It has a direct impact on store opening and store performance because there's not many tourists or less tourists shopping." - Daniel Grieder, CEO of Hugo Boss.
Growing up outside Manchester, I learned early that there's a stark difference between having money and knowing how to make things last. My dad worked factory shifts while my mum juggled retail hours, and our house ran on an unspoken rule: if something still worked, you didn't replace it. Last month, I visited a friend in Belgravia who was renovating his kitchen. As we chatted over coffee, workers hauled out perfectly functional appliances that looked barely used.
Earlier this week, former Howard Hughes CEO David Weinreb agreed to rent his West Chelsea penthouse for $177,500 a month, an eye-popping figure that followed a $95,000-a-month lease at a Naftali Group building on the Upper East Side in December. Data on trophy rentals is tough to pin down, but this is likely among the most expensive leases ever inked in New York City. The two hefty leases came as inventory for Manhattan's trophy rentals—which appraiser Jonathan Miller defines as the top 1 percent of the market, with rates starting at $25,000 a month—was down more than 40 percent year-over-year in January, as new leases climbed (albeit, at a more modest pace).
I have not had a single person tell me that they're going to leave New York City, and I am transacting at a level that is significantly higher than before (Mamdani) was mayor, or before we knew he was going to become mayor, Elevated Team at Compass co-founder Zeve Salman told HousingWire. I have not felt a quantitative slowdown on what's going on in the market. It's been quite the opposite.
"I think the last week is going to bring a lot of confidence back into the market," said Madeline Lissner, Sotheby's global head of fine art and major collections, in an interview with the online magazine Puck in November, after a mood-changing $2.2bn series of Modern and contemporary art auctions in New York. "I'm talking beyond auction, to the landscape of dealers and advisors,"
Growing up outside Manchester, I thought everyone kept their tea bags to use twice. It wasn't until I was at university, sitting in a friend's kitchen in London, that I realized this wasn't normal. My friend watched in horror as I carefully squeezed out my used tea bag and placed it on a saucer for later. "What are you doing?" he asked, genuinely confused.
Around the turn of the 21st century, the U.K. witnessed a dramatic surge in housing prices: the costs rose from four times peoples' annual earnings in 1995, to eight times by 2010. Homeowners subsequently enjoyed a wealth windfall, and it resulted in their kids receiving more housing wealth and higher-paying jobs, according to recent research from the Institute for Fiscal Studies. Lower-income renters, on the other hand, were faced with new affordability challenges.
On Monday, Coach launched a collection within The Sims 4, marking the first time a fashion brand has partnered with the video game in five years. All players will be able to access the new collection, which is free and features customizable items from Coach's ready-to-wear line, including its Tabby and Brooklyn bags, as well as decorative objects that can be used to craft Coach-inspired interiors through the game's build mode.
The street's ultra-luxury towers - from the first generation of supertalls west of Sixth Avenue that shaped the skyline, to mixed-use developments eastward 'driving the next phase of growth' - offer a dense concentration of cultural and lifestyle capital, paired with direct access to Central Park.
Ever notice how the people with the flashiest lifestyles often have the emptiest bank accounts? It's a strange paradox: those who look the wealthiest are sometimes the ones struggling most to make rent. I learned this lesson the hard way after being laid off during media industry cuts. Those four months of freelancing taught me something crucial about money that I wish I'd understood earlier.
These brands specialize in just that: pieces created by hand to your exacting designs and specifications, and never to be replicated. Maybe you're looking for top-of-the-range headphones to match your jet. Or could it be a suit for a pirate-esque get together? Or even an engraved signet ring, depicting a favored holiday destination in full color? For all of the above and more, here's who Elite Traveler recommends.
Profit margins at the world's largest luxury goods companies have almost halved in just three years, prompting calls for more disciplined cost management that preserves brand equity while restoring profitability. Research from supply chain consultancy Inverto, part of Boston Consulting Group, shows that the average operating margin across the 20 biggest luxury groups has fallen from 24 per cent in 2022 to 13 per cent today.
Regional performance remained uneven. Asia excluding Japan saw organic sales fall 4%, underperforming the group average as consumer spending in China remained subdued amid ongoing economic headwinds. Despite this, LVMH continued to invest heavily in the region, including the opening of a ship-shaped Louis Vuitton flagship in Shanghai in June 2025 and a new Dior store in Beijing in December, both of which have begun to gain traction.
While the internet is wide with chic items that may catch your eye, there's no better sign of what's truly on trend and worth a buy than seeing something consistently fly off the virtual shelves. Whether that's a viral collagen mask or a wine accessory that will keep your drinks colder, longer, some of the best and bougiest items are the ones shoppers just can't get enough of. But if you're not yet convinced, continue ahead for a curated edit of the best of the best.
