5 luxury news highlights for the week

Arushi Sakhuja 

As the first month of 2023 wraps up, it’s proof that the luxury market has no intentions of slowing down. This week’s luxury news highlights cover it all from Atlantis Royal Palm Dubai’s launch event to Tiffany and Co.’s new acquisition of pink diamonds and the controversy behind Schiaparelli’s latest showcase at Paris Fashion Week.  

Atlantis The Royal Palm Dubai’s extravagant launch  

To mark the launch of the newest luxury hotel in Dubai – Atlantis The Royal Palm, the chain hosted an exclusive three-day Grand Reveal Weekend of the new ultra-luxury resort last weekend. From the golden toothbrushes in the room’s vanity kit to bites prepared by Michelin-starred chefs, the main event was Beyoncé’s first live performance since 2018, and fireworks show to the beats of electronic house music supergroup Swedish House Mafia. Over a thousand celebrities and special guests from around the world arrived in Dubai to attend the exclusive, invite-only event. The star-studded evening witnessed Kendall Jenner, Liam Payne, Chef Gary Mehigan, boxing champion Amir Khan, and Bollywood celebrities like Gauri Khan, Farah Khan, Farhan Akhtar, and Shibani Dandekar. Dubai faces Huda and Mona Kattan, and Mahira Abdelaziz also attended the event. 

Cartier’s new vintage program  

Making it to the luxury news highlights for the week is Cartier’s new vintage program. Collectors from all around the world can now have a part of Cartier’s legacy for themselves through Cartier Tradition. Cartier Tradition that looks up buys, and, if required, repairs the brilliant pieces from the brand’s glorious past. Exhibitions are staged in just a few of Cartier’s premium jewellery boutiques across the world, and the collected works are then made available to a small set of VIP clients. Each piece comes with thorough documentation on the components utilized, the background of the design, and each stage of the restoration techniques applied. 

Justin Bieber sells music rights for $200M 

 

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Pop star Justin Bieber has sold his music rights to Blackstone-backed fund Hipgnosis Songs Capital. The deal had an expected value of around $200 million and covers more than 290 titles released before the end of 2021. “The impact of Justin Bieber on global culture over the last 14 years has truly been remarkable,” said Merck Mercuriadis, chief executive of Hipgnosis. All of Bieber’s six official studio albums have been certified platinum, selling at least 1 million units, or have gone multiplatinum. 

Schiaparelli’s faux animal fur controversy 

At the recently held Paris Fashion Week, Daniel Roseberry’s collection for Schiaparelli received major backlash due to the creation of animal heads made from hand-sculpted foam, resin, wool and silk faux fur. However, the concept did not appeal to many. To the majority, the creations appeared to glamorize poaching and validate arcane practices that harm endangered animal species. Can one say that the boundaries might have been pushed too far? 

Tiffany & Co. acquires a curation of Pink Diamonds from Argyle  

Tiffany and Co. has long been associated with the iconic yellow diamond. But this year the brand is upping its game with a new addition. Argyle has offered Tiffany a final bespoke curation of pink diamonds. The new collection comprises 35 gems, including an unusual red stone, from the Argyle Diamond Mine in Australia. “This extraordinary collection of 35 Argyle Pink™ Diamonds showcases the range of colours that Argyle diamonds are famous for, including Fancy Intense Pink, Fancy Intense Purplish Pink, Fancy Vivid Pink, Fancy Vivid Purplish Pink, Deep Pink, and the rarest of all—a Fancy Red diamond,” said Victoria Wirth Reynolds, Chief Gemmologist, Tiffany & Co. The acquisition of the Argyle Pink™ Diamonds is not only valued for its extraordinary rarity and beauty but also that it has been responsibly mined and sourced and hence is part of the luxury news highlights.  

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