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July 22, 2024

What’s new in the world of luxury in 2024?

Arushi Sakhuja
2023, when we look at the year in review it was a year with many new technology innovations, fashion collaborations, futuristic car launches and luxury hotel expansions. As we find ourselves in a new year, here’s all that has already hit the world of luxury and it only promises to grow more.
Drake’s US$100 million art amusement park
Photo Courtesy: Luna Luna
When it come to the world of luxury Drake’s recently announced an invest of a whopping US$100 miliion on reviving Luna Luna the world’s first art amusement park. After its lived nearly 40 years in the dark, Drake and his team have broght the park back to life. The theme park will have a ferris wheel by Jean-Michel Basquiat, a Keith Haring carousel, a fun-house designed by Salvador Dalí.
⁠The show will first stop at Los Angeles, California. What’s more? The tickets to Luna Luna are available now.⁠
Japense Whisky to get a price hike from April 2024
Asahi Group Holdings
Photo Courtesy: Asahi Group Holdings
Asahi Group Holdings, the producer of the Nikka brand of Japanese whisky, has announced an increase in the prices of its spirits portfolio, with some products experiencing a surge of up to 62% starting from April. According to a spokesperson from Asahi, the new pricing structure is determined based on the production costs associated with each whisky. As each whisky contains distinct ingredients, the cost components vary. For instance, the 10-Year Yoichi Single Malt, which made a comeback to the shelves a year ago following its discontinuation in 2015 due to supply issues, will now be priced at 13,200 yen ($92), reflecting a 50% increase from its previous retail price of 8,800 yen.
The new BMW i7 sedan

Photo Courtesy: BMW
The 2024 BMW i7 sedan emerges as a flagship electric sedan, blending opulence with sustainable performance. With a starting price around $105,700, it surpasses its peers from Porsche and Tesla, positioning itself slightly above offerings from Mercedes-Benz. Boasting a powerful electric motor, the i7 delivers a competitive driving range, aligning with eco-conscious trends. Its interior exudes luxury, featuring opulent appointments and cutting-edge technology. The i7 caters to the demands of discerning executives, presenting a comprehensive tool for those seeking both performance and sophistication in an electric vehicle. As BMW continues to advance its electric lineup, the 2024 i7 stands out as a symbol of the brand’s commitment to blending innovation and luxury in the realm of sustainable driving.
Jacquemus CEO steps down

Photo Courtesy: Bastien Daguzan/ LinkedIn
When it comes to the world of luxury, fashion brands are charting new narratives. Bastien Daguzan has stepped down from his role as chief executive of Jacquemus. Expressing gratitude, Daguzan stated, “I would like to thank Simon for his trust and the incredible journey we have been on together with the team. He has always been an immense source of inspiration; I am so proud to have been a part of this adventure.” Daguzan officially assumed the position of CEO at Jacquemus in May 2022. He became the brand’s first CEO following founder Simon Porte Jacquemus, who previously held both creative director and CEO roles.
Coupang acquires FarfetchPhoto Courtesy: Farfetch
Farfetch the online luxury giant, has been sold to South Korean e-commerce giant Coupang in a deal that will provide $500 million in emergency funding. The move will help Farfetch avoid bankruptcy, which was looming due to a slowing luxury market, M&A missteps, and high cost of debt. The company was at risk of negatively impacting partner boutiques and brands. However, Farfetch’s previous complex deal with Richemont to acquire a 47.5 percent stake in Yoox-Net-a-Porter, mostly in shares, has been terminated, according to a person with direct knowledge of the matter

Arushi Sakhuja

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