Luxury news wrap for the week

Ruhi Gilder
As another working week comes to an end, LuxeBook takes you through the highlights of everything that happened during the last week of February. Luxury brands such as Moncler released their billion-dollar revenue reports, Indian modern artwork prices hit new highs and the unfortunate clashes in Ukraine have far-reaching effects.
Most expensive modern Indian painting
Photo Courtesy: Pundole's
Photo Courtesy: Pundole’s
Pundole’s ‘Glenbarra: A Lasting Legacy’ auction saw an untitled V.S. Gaitonde painting break records. Selling for a whopping Rs. 42 crore, the 1969 oil on canvas is now the highest price achieved for a work of modern Indian art globally. Tyeb Mehta’s Mahishasura sold for Rs 32 crore while Arpita Singh’s My Lily Pond sold for Rs 9 crore, the latter setting a record for the artist. 
Read more about the auction here. 
Sotheby Realty’s historic year
India Sotheby’s International Realty’s Signature Island, BKC
Sotheby’s International Realty breaks records to achieve US$204 billion in global sales volume. The company saw a 36% increase in sales growth, as U.S. cities like New York, Miami, San Francisco, and Austin returned to pre-pandemic levels. Global markets such as Australia, Spain, Switzerland, Bahamas, Cayman Islands, Turks & Caicos, and Puerto Rico reported notable growth and record sales.
Basketball card fetches $2 million
A rare Kobe Bryant basketball card set a new sale record on Tuesday. PWCC Marketplace announced that a 1997-98 Metal Universe Precious Metal Gems Emerald, that features Bryant wearing a No. 8 jersey sold for $2 million at a private sale. It is the late basketball player’s highest-selling card of all time.
Breitling teams up with Triumph
Photo Courtesy: Breitling
Photo Courtesy: Breitling
A collaboration between two marquee brands has given birth to a limited-edition timepiece and bike, both inspired by the café-racer culture of 1960s London. Triumph is releasing an exclusive Speed Time motorcycle, co-designed by Breitling with ice blue accents, available in 270 limited pieces. Breitling, on the other hand, announced a Top Time Triumph watch, one for the fans of the brand with a Zorro dial, and one for owners of the new Top Time Speed Twin Motorcycle with ice blue sunday dial in the same shade as the bike’s accents.
Moncler & Farfetch report increased revenue
Moncler Frele metallic padded jacket
Moncler, Photo Courtesy: Farfetch
Leading luxury retailer Farfetch recorded a revenue increase of 35% in 2021, totalling to US$2.3 billion. In the fourth quarter of the year, Farfetch’s revenue increased by 23% to a whopping $666 million. Sales at Italian luxury outwear maker Moncler also grew exponentially in 2021. US and Chinese markets were strongholds of Moncler, where consolidated sales surpassed €2 billion. In comparison to 2020, their revenue was up 44% and up 28% compared to 2019.
Luxury stocks crash
On Thursday, Kering, LVMH and Richemont shares fell following the news of Russia’s attack on Ukraine. LVMH and Kering’s shares were down 5% in the middle of the day, while Richemont was down 7%, and Hermès 3%. While it is unclear whether EU’s sanctions will affect the luxury sector, experts fear a ‘guilt factor’ amongst luxury consumers. This phenomenon is where consumers feel uncomfortable flaunting high-end products due to the influx of tragic news and somber atmosphere.
Bugatti x Asprey
Photo Courtesy: Bugatti
Photo Courtesy: Bugatti
French carmaker Bugatti and Asprey, the British luxury jewellery and timepiece manufacturer unveiled their limited edition 24-karat rose gold sculpture. Based on Bugatti’s one-of-a-kind hyper sportscar, La Voiture Noire, the sculpture has been designed with its own bespoke base as well as NFT. The launch also includes a series of 261 smaller, sterling silver sculptures, each with their own NFTs. Click here to know more.
15 carat blue diamond to go on auction
De Beers Cullinan
Photo Courtesy: De Beers Group
A rare vivid blue diamond will be a part of Sotheby’s April 2022 Hong Kong Luxury Week sales, in a single-lot auction starting at US$48 million. The 15.10-carat blue diamond, called the De Beers Cullinan Blue was discovered at the Cullinan Mine in South Africa in 2021. Over the past year, the diamond has been prepared for sale by De Beers partner Diacore, a company that specialises in cutting and polishing gemstones and diamonds.
Click here to know more.
Mercedes-Benz unveils new AMG-EQE
Mercedes-AMG EQE
Photo Courtesy: Mercedes-Benz
Mercedes Benz unveils its second all-electric AMG, where the 2023 model is a smaller version of the earlier AMG EQS. The new AMG EQE is available in two variants, the Mercedes-AMG EQE 43 4MATIC and 4MATIC+. It features a black panel chrome grille with hot-stamped vertical struts, the Mercedes star and AMG badge, a revised bumper and new aerodynamic alloy wheels. The electric vehicle comes equipped with a 170kW charger, which charges to 180km of power in 15 minutes. The range of the EQE 43 is between 462km-533km, whereas the EQE 53 is 444km-518km. Click here to know more.
London Fashion Week highlights
Photo Courtesy: London Fashion Week / Instagram
Photo Courtesy: London Fashion Week / Instagram
London Fashion Week took place from February 18-22, as a digital-physical hybrid event, highlighting the best of British womenswear and menswear. Designer Michael Halpern used fringes liberally, Priya Ahluwalia drew from her cross-cultural identity to create Bollywood and Nollywood (Nigerian cinema) inspired designs and Richard Quinn showcased his florals. David Koma’s show was all about thigh-high socks and stiletto boots, Raf Simons Autumn Winter collections were inspired by the 1559 painting ‘Netherlandish Proverbs’ by Pieter Bruegel the Elder and Simone Rocha was inspired by the Irish legend of the Children of Lir. Click here to know more.
Also read: 
Style notes from London Fashion Week ’22
Celebrity approved fashion-forward maternity wear