Luxury brands are pushing the boundaries as the spending power of HNIs increases annually. Below are the top luxe news highlights of the week.
Hermés wins MetaBirkin NFT lawsuit
In the luxury world, counterfeit products are a common tone, however, French luxury goods brand Hermès International S.A. has prevailed in its lawsuit against the creator of unauthorized MetaBirkin NFT that Mason Rothschild sold online for $450 apiece. The artist who sold non-fungible tokens featuring digital depictions of Birkin handbags has been ordered to pay $133,000 in damages to the brand’s owner Hermès, a victory for the French luxury group in a landmark case over how US intellectual property rights are applied to digital assets.
Bugatti Chiron Profileé sold for $9.5M
Earlier this week, the Bugatti Chiron Profilée set a new record by becoming the most expensive car to be ever sold at an auction. Sold at RM Sotheby’s in Paris, this one-of-a-kind luxury car is a toned-down version of the brand’s Chiron Pur Sport and went for approximately $9.5 million. The auction of the Chiron Profilée represented the last opportunity to buy a new Bugatti powered by the legendary W16 engine.
Panerai Submersible S BRABUS Verde Militare Edition
The luxury watchmaker blends Italian design with Swiss technology, all in the name of the passion for the sea. Staying true to the luxury world, Panerai has joined hands with BRABUS, a world-renowned luxury mobility brand out of the heart of Germany’s Ruhr region, to redefine the limits of technology, style and performance. The outcome is the Panerai Submersible S BRABUS Verde Militare Edition. Available in a limited edition of 200 pieces, the Submersible S BRABUS Verde Militare Edition features a 47mm case composed of Carbotech and accents in military green. Meanwhile, the presence of the BRABUS logo on the movement lever and loop affirms the collaborative character of the watch.
Pharrell Williams to helm Louis Vuitton’s menswear collection
This is quite possibly the biggest news of 2023 so far! After almost a year, LVMH has announced that Pharrell Williams will succeed Virgil Abloh at the helm of Louis Vuitton’s menswear collections. Today he is also the artistic director of Kenzo and the two have collaborated and created a clothing line before Pharrell Williams co-founded the brands, Billionaire Boys Club and Ice Cream Footwear. This was followed by a flurry of fashion, beauty and lifestyle collaborations with brands such as adidas, Moncler and Comme des Garçons. In 2005, the American also collaborated with Louis Vuitton, working with the label to design a pair of sunglasses named Millionaire. Pharrell Williams will present his first collection in June at the Men’s Spring-Summer 2024 Fashion Week. The show will likely be one of the most anticipated of the season.
Grace Kelly’s historic honeymoon yacht has been given a luxurious makeover
Quasar Expeditions (a boutique cruise line) recently revamped Princess Grace Kelly’s historic honeymoon yacht. The 147-footer, originally built by Camper and Nicholsons, was gifted to the American actress and Prince Rainier III by Aristotle Onassis for their wedding in 1956. The team has given the yacht quite a significant refit. The updated decor is contemporary yet cosy, with warm wood details balancing the more modern furnishings. There are innovative new tech touches throughout, too, like lighting that instantly adjusts to match your mood and additional USB ports and plugs. The Chilean design firm also added a new coffee lounge for caffeine hits and a new boutique with clothing curated by fashion experts. Grace’s menu was even reinvented to take the gastronomic experience up a notch.
Phoebe Philo to debut her namesake brand in September
Being a digital-first approach Phoebe Philo announced her plans to unveil her first collection for the brand via phoebephilo.com. The designer has been largely silent since 2021 when she announced her return to fashion after a three-year hiatus with a start-up brand backed by LVMH.
Thailand’s $9 billion aviation project begins construction
Thailand will be transforming its historic U-Tapao–Rayong–Pattaya International Airport into a spectacular aviation city for tourists. The project titled Eastern Aviation City, which is worth US $9 billion was assigned to the global design and consultancy firm One Works. The construction of this megastructure has reportedly already begun early this year. Post-construction, the project is said to provide as many as 15,600 additional jobs in the first five years, massively boosting Thailand’s aviation industry, shared Thai Government spokeswoman Tipanan Sirichana.