To those who want to relax and escape from the stifling urban landscape in Australia's cities, the Bangalay Luxury Villas might just do the trick.
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The Airstream Interstate 24X even comes with two outdoor showers for easy cleanup after a swim or to remove dirt and grime from your gear.
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In a sudden turn of events, Burberry’s CEO Marco Gobbetti has decided to leave the British heritage label for Florence-based Salvatore Ferragamo after merely a four-year stint.
In a statement released by Burberry, Gobbetti has taken up the role of general director and CEO at Ferragamo and this opportunity “will enable him to return to Italy and be close to his family.” Being away from his native Italy for more than two decades and compounded with the current woes of the pandemic, it’s no surprise that he wants to relocate back.
Gobbetti took up the top executive position back in 2017 from his predecessor Christopher Bailey, who was Burberry’s CEO and chief creative officer. With over a decade of experience spanning different Houses such as Moschino, Givenchy and Celine, the luxury veteran had envisioned a five-year plan to revitalise the British brand where it will become a powerhouse comparable to competitors such as Gucci, Dior and Louis Vuitton.
Since Gobbetti took over, Burberry’s share price has risen 37% but after the announcement of his leaving on June 28 the shares have fallen and it is trading around 25% higher than in July 2017. During his tenure at the brand, he brought in Riccardo Tisci to be the chief creative officer, increased prices, strengthened control over distribution and scaled back on wholesale partnerships in favour of higher-margin direct sales.
Being one of the early adopters of utilising the digital space to attract new customers, Burberry under Gobbetti managed to reap “strong double-digit” growth in China, which is the key market driver for luxury sales during this pandemic and the foreseeable future. Furthermore, he expanded Burberry’s accessory selections by creating handbag families and following pricing strategies similar to that of other luxury brands. The aim is to make the brand a “centre of excellence” for leather goods. In that regard, Burberry’s market capitalisation rose roughly by a third since Gobbetti took over in 2017.
“The board and I are naturally disappointed by Marco’s decision, but we understand and fully respect his desire to return to Italy after nearly 20 years abroad. With the execution of our strategy on track and our outlook unchanged, we are determined to build on Burberry’s strong foundations to accelerate growth and deliver further value for our shareholders,” said Burberry’s chairman Gerry Murphy. Acknowledging Gobbetti’s “immense contribution”, Murphy further added that the outgoing CEO has had “a transformative impact, establishing a clearly defined purpose and strategy, an outstanding team and strong brand momentum.”
The search is on to look for Gobbetti’s replacement and there are also speculations that Ticsi could also be leaving and possibly join Ferragamo as its creative director after Paul Andrew left last month. “The key aspect of Gobbetti and Tisci’s mission at Burberry was focused on leather goods, however, we note that they also had quite a lot of success with shoes (especially in the U.S.), which is also a core product category for Ferragamo,” investment company Exane noted.
Gobbetti will be Ferragamo’s fourth CEO in five years and according to Marco Baccaglio, equity research analyst at Kepler Cheuvreux, the decision to hire the new incumbent was a surprise and since Gobbetti is to join only after serving his contractual obligations, it delays the “engineering and the execution of a new plan to revive the brand.”
For Gobbetti, his new role at Ferragamo presents another challenge for the brand, which has been suffering from lacklustre sales performance over the years and the pandemic has only worsened the situation. For the year 2020, Business of Fashion notes that the brand’s revenue dropped by 33% to €916 million. Losses before interest and taxes were €62 million last year, compared to €150 million profit in 2019 — this represents the company’s first year of losses since it went public on the Milan stock exchange in 2011.
In a concluding statement by Berstein’s Luca Solca: “Burberry is in a far better position today than when Marco took responsibility for it. Yet, the magnitude of the issues at hand didn’t offer a chance for the runway success that some had hoped for.” It remains to be seen how this new arrangement will pan for these two heritage companies.
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For the $153,540 Grand Apple, Caviar is replacing the housing of the regular iPad Pro with rare wood, pure gold, and diamonds.
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If you prefer convenience, the optional Ooni Karu 16 Gas Burner is also available so you can use propane in addition to wood or charcoal.
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Bell&Ross revs up with the new Alpine F1 racing team with three new limited edition chronographs pithily named BR V3-94 A521, BR 03-94 A521 and BR-X1 A521. This is part of a continuation of the watchmaker’s partnership with Formula One racing since 2016; the Alpine F1 team was formerly known as the Renault F1 team. If you know a thing or two about racing, you will guess that the team colours are changing so any dedicated watch collection must follow suit. Congratulations, because there is indeed a new Bell&Ross Alpine F1 Team collection of three chronographs, each one dressed up in the team’s Alpine blue, black and white livery.
All models also feature the Alpine team’s logo as the counterweight on the central chronograph hand. All three are variants of existing models, which you can easily suss out by the names: BR V3-94 A521, BR 03-94 A521 and BR-X1 A521, with the A521 portion signifying the particular characteristics of each new limited edition chronograph. This is a reference to the Alpine racing single-seater model A521. The latter two models have featured prominently in WOW and LUXUO over the years, and these new 2021 editions will be welcome additions.
What is notable here are the variations within variations, attendant limited status, and we will begin with the Bell&Ross BR V3-94 A521, since the base model has received comparatively little attention from us. With the round 43mm BR V3-94 A521 in steel, there are two versions and both are limited to 500 pieces. One comes with a steel bracelet while the other sports a black and blue calf leather strap that has a carbon fibre look to it. Both have folding clasps, and of course both are powered by the automatic calibre BR-CAL.301. Bell&Ross fans will recognise this movement as the same one beating within all versions of BR 03-94. Perhaps even more obvious than this is the shape of BR V3-94 A521, which remains unusual for Bell&Ross, even if it is more in-line with sports watches everywhere.
Moving on, the BR 03-94 A521 is the version with the date window at 6 o’clock, and it shares the French flag on the dial, just as BR V3-94 A521 does. This is a nod to the Alpine team’s heritage but works just as well for Bell&Ross itself. This version is limited to 500 pieces. The flag touch is absent from the BR-X1 A521, which is just as well considering everything else competing for the eye here. This is of course the top of the line model in this set of three chronographs; it is limited to 50 pieces.
Finally, depending on when you are reading this and where you are, the watches are all beginning with a pre-order run, with delivery for the BR V3-94 A521 and BR 03-94 A521 starting in July, and BR-X1 A521 in September.
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Japan is the world’s laboratory. It’s in this country that in 2001, for the very first time, the famous quantitative easing measures were put in place that tried to break the believed-to-be impenetrable barrier of zero interest rates that had been set in 1999. It was a revolutionary endeavour for the time, led by successive governments motivated by the need to revive their economy. This staunchly unorthodox monetary policy now became common practice for Western central banks. The Fed, the ECB, the Bank of England and others haven’t been miserly in making use of this inverted lever whose clear and open objective was to rekindle inflationary pressures. This precious reflation would of course not come without public spending that would in turn stimulate the recovery of consumption and private investment. To rehash the very profound words of Paul Krugman, central banks — for the class of them that the Bank of Japan pioneered — signalled to the public that if necessary they would be prepared to lose control of inflation.
However, 20 years on and Japan is still stuck in its stagnation, still debating with itself in a soup made of anaemic growth, negligible inflation, declining wages and waning productivity. The calamitous implosion of Japan’s speculative bubble during the 1990s together with the global financial crisis that began in 2007, topped off by the current health crisis, now means that 16% of the Japanese population lives in poverty. This country is now the second-worst performer of the G7 from this point of view, after the US. Japan is also the land of all records since its public debt stacks up to 265% of its GDP, which makes it the world champion of all categories, and now too firing the warning shots with global public debt surging by more than a third over 2020 and 2021. So, the case study of Japan clearly shows us that nations that have a sovereign currency can rack up their expenditure without fearing inflation. However, this verdict needs to be refined because Japan — like many countries across the globe — is weighed down by structural problems that systematically hinder recovery, growth, inflation, and confidence. Low wages, impoverished retirements (because of the negative rates), declining education and training levels, and an ageing population that therefore consumes less, are the burdens weighing heavy on Japan’s economy and many other so-called developed economies.
He nevertheless tried everything, Shinzo Abe, Prime Minister from 2012 to 2020, and he nearly succeeded with his effervescent programmes centred around a tripartite idea of massively increasing public spending, triggering frantic debt purchases by the central bank, and reducing tax rates on companies. He was alas confronted with a miserly private sector that really didn’t play the game and that, very happy to see the public sector spending without counting, thus grew its reserves to record levels. In truth, Japan’s failure to relaunch inflation reveals the mentality of companies to be a deflationary one, in Japan like in many other countries. These companies do not seem to want to take over the reins from the public sector, having turned out to be entirely focused on their own savings and profits. Until the opposite happens, the multiple crises that have shaken our world over the last 20 years will formally attest to it, that we can only count on governments to save the economy.
This was article contributed by Michel Santi
Macroeconomist and Art advisor
michel@atf.club
https://www.artradingfinance.com/
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The ability to take a good photograph is a talent. There is a world of difference between the snaps we take for fun and those that have become part of…
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It wouldn’t be wrong to suggest that beards are like beasts – they seem to have a mind of their own. You will have to learn to tame the beast,…
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The silhouette alone gives off the illusion that the WMC 250EV is already in motion, which is a great sign of its capable design.
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It is quite apparent by now that Men’s Gear is a really big fan of watches. We cover all types of them here, from multiple brands. It can be especially…
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One of the most common things we all have is dropping our phones. No matter how well we take care of them usually, something always tends to happen. A proper…
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What the AI-1 Airbag Vest from Klim promises is reliable and real-time adaptive protection for your back and chest in the event of a road mishap.
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Regular use of the new Leica M 10-R in a black paint finish will eventually chip off the paint, but develop a beautiful patina on the brass top panel.
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The BAIT x One-Punch Man x Adidas Montreal 76 is an awesome tribute to one of the most powerful fictional superheroes in manga.
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Louis Vuitton unveiled their Spring Summer 2022 collection for menswear last Friday and many sneakerheads were thrilled to catch a glimpse of the French Maison’s collaboration with Nike —the new Air Force 1 sneakers. Coming in 21 colourways, the shoes include low and mid-top versions. The panels of the shoes are emblazoned with Vuitton’s signature monogram prints, the words “AIR” printed on the midsoles and “LACET” (the French word for laces) adorns on the lace tips. Designed by Virgil Abloh, who is known for his penchant for infusing streetwear elements into the realm of luxury, the shoes will be a collector’s piece when they are released.
In its show notes, the Maison said, “For Spring-Summer 2022, Virgil Abloh collaborates with Nike on bespoke Air Force 1s, fusing the trainer’s classic codes with the insignia and materials of Louis Vuitton in homage to the hip-hop culture that shaped him.”
For now, details about the Louis Vuitton Air Force 1s are still not known and all we have to do now is to wait. Similar to its cousins at Dior, where Kim Jones has created the highly popular Air Diors, we would expect nothing less than a clean sweep when the shoes hit the shelves.
For now, here are some images from the presentation:
All images courtesy of Louis Vuitton
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Since the invention of the internal combustion engine, automakers have been obsessed with increasing the maximum output and speed of their creations. There’s just something about hearing the purr of a well-tuned engine and feeling the car surge forward in response that brings out something primal in all drivers. This is of course due to the rush of adrenaline we get from engaging in anything dangerous or exciting. For years, drivers have been chasing this high and seeing this as the ultimate form of driving pleasure. However, a new trend has emerged recently, placing greater emphasis on the driver’s comfort rather than an all-out speed and power.
This doesn’t mean that the age of fast cars is over, far from it. After all, as we’ve said before, the thrill of getting behind the wheel of a luxury supercar and speeding down a long, lonely road is deeply ingrained in our biology and psychology. Speed and power are still a big part of luxury car design. Take for example Bentley’s Continental GT Speed Convertible. It might not be a supercar but “speed” is in its name and the car delivers a top speed of 445 km/h and 0-100 km/h timing of 3.6 seconds. Therefore, speed is still very much a desirable quality in a luxury automobile. However, thanks to advances in technology, it’s no longer necessary to sacrifice comfort for power. And if you can afford it, why settle for just one when you can have both?
Along with speed and power, there is one other factor that many consider to be a great source of driving pleasure. The idea of driver involvement typically revolves around car designs that use a manual transmission and requires a driver to be technically proficient in order to safely control a vehicle and bring out the best in its performance. While it might be harder to operate than the more modern automatic transmission, which we see in most cars nowadays, it does have some benefits such as greater overall control. In addition, it fosters a greater sense of connection between man and machine given how a driver must know the nuances of their vehicle inside and out. It’s quite similar to the pleasure that one gets from owning a luxury mechanical watch and the appreciation for the intricate design of its fully analogue design.
However, the main driving force behind technological advancements in any field is to make work easier. This explains the rise of automatic transmission as it is much easier to operate, allowing more people to drive a car. However, for purists, nothing beats the control afforded by a manual vehicle. To compromise, automakers introduced the Formula 1 inspired flappy handles which allowed drivers to control their gear changes without the stress of having to tap-dance between the clutch, brake, and accelerator pedals. The handles in the Ferrari Roma we reviewed a few months back spring to mind as we write this, because of its well-thought-out ergonomics which made driving it and changing gears a real pleasure.
Another trend on the rise in the automotive world is the growing prevalence of driver-assistance technologies. These involve the use of artificial intelligence (AI) and range from simple programmes which assist the driver by helping to adjust factors such as acceleration or braking, to those which can take control of a vehicle and operate it without a driver’s interference. Again, this points to the greater desire for an easier and more comfortable way to drive, rather than raw power and face-melting acceleration. Many brands offer some sort of driver assistance systems such as Ferrari’s adaptive cruise control, BMW’s Personal CoPilot, and Tesla’s Autopilot and “full self-driving” technology. The fact that car manufacturers are starting to offer these systems in their cars shows how drivers are undergoing a change in preferences and placing greater emphasis on ease of driving rather than driver involvement for pleasure.
Lastly, while automakers of old were limited by the technologies of their time and had to choose either comfort or speed, advancements in modern designs have allowed contemporary models to embrace both — giving drivers an unparalleled level of driving pleasure. Standard appointments on most luxury automobiles today include supple leather or Alcantara upholstery, advanced environmental controls, which allow users to adjust temperature and even the fan speed of their air conditioners, and state-of-the-art audio systems so that long drives can be accompanied by your favourite tunes such as the Mercedes-Benz S-Class series with its Burmester sound system. In fact, comfort is the reason why the demand for Rolls-Royce vehicles has been growing in recent years. The marque prides itself on luxuriously designed interiors using high-quality materials and even specialised acoustic treatment to dampen external noise. With such innovations that enhance driver and passenger comfort, it’s no wonder Rolls-Royce hit a new sales record in the first quarter of this year.
In conclusion, speed and power are still very much a desirable part of any luxury car. Because of the way our brains are wired, drivers are always going to be chasing that rush of adrenaline that comes from handling a turbocharged supercar. However, other factors have come to define the new norm of driving pleasure. Speed is essential, but it isn’t everything. Sometimes, what people really what is to be able to take long, easy cruises, and then hand over control to an onboard AI, freeing them to live in the moment, and enjoy the pleasures afforded by modern automotive technology.
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Diamond clarity is arguably the second most important of the Four Cs of diamond rating (after Cut quality). The cut of the diamond can improve the clarity of the diamond even more, skillfully whisking out inclusions and flaws that otherwise might affect the flow of light through and around the stone. A brilliant cut is also adept at hiding inclusions behind brilliant facets.
In general, a diamond should be as clear as water — but you should not be able to see through it in the way you would be able to see through a water droplet! The clearer a diamond is, the better the light will flow through the stone, and the more easily light is channeled, the better the clarity of the stone. Thus, it is easy to see that a high clarity diamond is more sparkly – and it is a diamond’s sparkle that makes it so attractive to those who like them. See more about the diamond clarity scale here, or consult the GIA or AGS website for full details.
Clarity begins with F or IF which stands for Flawless or Internally Flawless. This means that when a jeweler examines the stone under laboratory conditions and greater than 10x magnification, there are no flaws or blemishes discernible to the naked eye.
The next grading is VVSI2, and VVSI2 which means very, very slightly included to the first and second degree respectively. This means that there is something visible under greater than 10x magnification but it is minute and only just noticeable to a jeweller who knows what he is looking for.
The next grading down, drops a V to become VSI1 and VSI2. At this point, using only 10x magnification is enough to spot the internal flaws in the stone, but it is still eye clean, which means that the flaws cannot be seen when looking at the stone without magnification. Often a less practiced jeweller will not be able to see the inclusions in a VSI1 stone without a lot of patience, time and sometimes advice from a more experienced guide. VSI2 stones are usually easier to categorise, having more noticeable flaws under 10x magnification, but still being largely eye clean.
All the diamonds mentioned above are likely to be highly desirable diamonds, twinkling beautifully and attracting good prices for their vendors.
We now move onto Slightly Included to the first and second degree, or SI1 and SI2. With SI1 diamonds, they are easily visible at 10x magnification, but tend to be eye clean, unless the cut is a spare clean cut like an emerald or Asscher cut which reveals sweeping planes of the diamond and can be unforgiving to even quite small issues.
Finally SI2 stones. These are usually the lowest clarity that commercial dealers will offer for sale, and they are often not eye clean – in fact, as many as seventy percent of the stones will have inclusions visible to the naked eye. However, the flaws are still relatively small, and your diamond will be structurally sound and will still sparkle delightfully, albeit not as symmetrically as could be desired.
So, should you buy a SI2 stone? In general, if the stone is pretty, and you can live with its flaws — and do bear in mind that up to thirty percent of SI2 included stones will be eye clean — then, yes, absolutely you should buy an SI2 stone if it suits your budget, rather than scrimping or overspending to buy a stone that will look only very slightly different to your SI2 bargain.
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As some companies find when creating a yacht-management department, there’s often an underlying belief from some owners that a captain and boat boy can “do the job”. Indeed, regular cleaning and upkeep such as maintenance and basic mechanical check-ups have long been the standard request to yacht-management companies.
Unfortunately, many yacht owners come to believe this is the norm and the only level of service that can be provided in Hong Kong. However, this can result in a low-level experience when owners are onboard their yacht, one that’s different to their day-to-day lifestyle whether they’re at home, the office or in high-end dining venues.
From our perspective at NextWave, an owner’s lifestyle on their yacht should be no different to life in their opulent residence or when they’re on holiday in a luxury resort. Their lifestyle standards should not drop when they go to sea in their own multi-million-dollar yacht.
Yacht owners’ lifestyles can be maintained from their home or office to their yacht, ensuring they enjoy life aboard to the full. At NextWave, we pride ourselves on being able to provide yacht owners with a continuation of their day-to-day standards by delivering a superior level of care throughout their use of the yacht, offering professional services and experiences while they’re onboard.
For example, when you stay in a six-star luxury hotel, you would be treated to the best hospitality by professionals. You would dine in a Michelin-star restaurant, be presented with luxurious tableware and silver cutlery, experience fresh food made by the best chefs and enjoy service by professionally trained service staff.
Fine wine would be recommended and decanted into refined crystal glasses by an in-house sommelier. Satisfying desserts provided by the patisserie and quality coffee by an experience barista would follow your meal. Meanwhile, your room would have been carefully prepared by meticulous housekeepers. So, why would you settle for an inferior quality of services when aboard your yacht?
After realising there’s no need to settle for less, many owners request the same standards or an even higher level of luxury on their yacht, and you can too. All such services and more are now available via the professionals within the NextWave Ultimate Lifestyle service offered by our yacht management team.
This realisation is completely changing the mindset of current yacht owners in Hong Kong. NextWave is going above and beyond to help yacht owners see that their life onboard has no limits. The luxuries available in life are also available at sea for the owners, their family, their friends and their special guests, ensuring unforgettable experiences on every trip.
With the trend of yacht owners moving up to larger superyachts, we have already been inundated with a growing demand for the higher standards offered by our Ultimate Lifestyle option. In addition to our crew training in maintenance, service and seamanship, our yacht-management managers and crew attend professional courses on hospitality, bartending and wine-pairing.
With experience of yachting around the world, we deem such services to be normal and crucial to yacht ownership. We understand some yacht owners may be new to this and a little reluctant to commit at first, so we’re offering a free trial day for selected customers and superyacht owners.
Once experiencing the difference you can enjoy onboard, we have no doubt this will become the norm for you and your guests, being the envy of all your friends. Walk onboard to expertly chosen scents and fresh bouquets of flowers straight from the florists. Be greeted by your personal service staff trained in fine dining, serving your favourite dishes. Enjoy a cocktail by your private bartender, while you relax and admire the beauty of your pristine yacht with attention to detail provided throughout.
Our professional Ultimate Lifestyle team is ready to cater to your preferred preferences. Whether you use your boat every day or just want to create a special day or stayover weekend, we have packages available.
Chau is a co-founder and Managing Director of NextWave Yachting, a dealership formed in 2012 by a group of friends in Hong Kong who turned their love of life on the water into a business. As well as being a dealer for the likes of Sunseeker, Sealine, Fjord, Chris-Craft, Vanquish and Heyday, NextWave has strong brokerage and yacht-management divisions, which both had their best year in 2020. The company also has a charter division and represents water-toy brands like JetSurf, Lift Foils, Seabob, Aquaglide, Yachtbeach, Belassi, JetXTender, Oxoon and Scubajet.
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