In The Wall Street Journal, Rory Satran discusses this summer's luxury yacht fashions. She writes: “When a client comes to the boat, they bring their closet,” said Captain Sandy Yawn, a superyacht captain who appeared on the reality show “Below Deck Mediterranean.” “They want to shine in front of their friends.” Jeff Bezos and Lauren Sanchez have been in prime entertaining mode this summer on Koru, their new $500 million superyacht. Sanchez has been flaunting some aggressively revealing looks to shine for friends including Oprah Winfrey. She and Bezos have been extensively photographed … [Read more...]
World’s Richest Woman, LVMH, Hermès and More
If you’re planning on being in Paris anytime soon, like Your Survival Guy is, then pay attention to what’s going on with the protests. There are certainly some no-go zones we’ve highlighted in the past. But considering all the chaos, France’s stock market continues higher driven largely by the surging luxury and cosmetics sectors. Will it continue? More than a third of the market is in four companies in the luxury and cosmetics sector. From the WSJ: Shares in LVMH—the owner of Louis Vuitton, Dior and Tiffany & Co.—jumped to a record in Paris trading, further cementing its position as … [Read more...]
Luxury Rally Drives LVMH Onto Top 10 Most Valuable Companies List
A rally in sales of luxury goods has put the world's largest luxury house, LVMH, among the top 10 largest companies, with a market capitalization of $486 billion. Julien Ponthus reports for Bloomberg: LVMH, Europe’s largest company by market value, has now made it to the world’s top 10. A first-quarter sales beat sparked a 5% increase in the share price Thursday, giving the luxury powerhouse a 29% rally for the year. That, along with a gain in the euro against the dollar, lifted LVMH’s market capitalization to $486 billion, briefly ranking it as the world’s 10th-biggest company. Should it … [Read more...]
Your Survival Guy Prefers Bombardier’s Global Express 7500
If you’re going to Paris, you’ll need a heavy jet. Your Survival Guy prefers Bombardier’s Global Express 7500. With only a handful to choose from, you’ll be in rarified air, literally—because when you’re cruising at altitude tens of thousands of feet up, the advanced air pressurization system makes it feel like you’re only at 4,000. Great for extra-long trips (and even not-so-long ones). Remember, it’s the small things in life that matter most. You’ll want to hit the ground running, not bogged down with a head cold. Then there are the 15-windows (per side), soft leather club chairs, and … [Read more...]
Are Luxury Cars Really a Safe Haven?
Are luxury cars recession-proof? Stephen Wilmot examines luxury vehicle makers and their resilience in The Wall Street Journal, writing: Luxury car brands should be better long-term investments than mass-market ones. That doesn’t mean they are recession-proof. Less than two weeks after its initial public offering, Porsche POAHY -4.42%▼ has already overtaken its majority shareholder Volkswagen VOW -3.29%▼ in terms of market value. The comparison is simplistic, given differences in capital structure, but it does underline, among other things, investors’ preference for expensive vehicles over … [Read more...]
My Money Sleeps: “I Never Bought a Car as an Investment in My Life,” Jay Leno
“I never bought a car as an investment in my life,” explained Jay Leno back in 2015 when a guy offered him $12 million for a McLaren he had bought twenty years prior for $800k (watch the video below for why he doesn’t sell). Gale Warning During Newport’s Concours and Motor Week “I work, and my money sleeps,” says Leno. But don’t think his money’s not working. His money works. He simply gives it plenty of time and space to compound and to do its thing. Time to Get Your Lazy Cash Off the Couch Now, if you’re a regular here at YourSurvivalGuy.com, you know how frustrating lazy … [Read more...]
Lazy Cash Wandering Docks at Newport Boat Show
“Permission to board? Should we remove our shoes?” Becky and I asked. A polite way to board a brand-new boat on display at the Newport International Boat Show last weekend. With docks loaded with giddy, lazy cash looking for some fun next summer, you can imagine the challenge it is to keep the decks free and clear of excess debris. As Becky and I spoke with our local Grady White dealer and boatyard owner, we learned that if you want a new boat, you’ll have to get in line because dealer allocations are a fraction of what they were pre-Covid, thanks to a lot of things like a shortage of … [Read more...]
Americans Want to Get Moving Around Again
American Express and other card companies are seeing increased interest by Americans in travel and spending on entertainment. Allison Prang reports in The Wall Street Journal: American Express Co. AXP +3.96% is seeing consumer spending start to normalize as Covid-19 vaccinations pick up in the U.S. Spending in travel and entertainment categories rose 40% in March from February and bookings through American Express Travel jumped by 50% in the first quarter compared with the fourth quarter, Chief Financial Officer Jeffrey Campbell said in an interview Friday. Mr. Campbell said the number of … [Read more...]
Can Luxury Brands Survive the Wuhan Coronavirus?
The Financial Times reports that luxury brands could be facing trouble from the Wuhan coronavirus, as Chinese customers have become such a big part of the luxury industry. The FT writes: A queue of roughly 30 people, many of whom were speaking Chinese, queued at the Louis Vuitton, Chanel and Gucci stands in the Galeries Lafayette department store in Paris on Monday, writes Leila Abboud. Across the street at Galeries Lafayette’s centre for Asian tourist groups, crowds of people were waiting to get tax refunds on their purchases. The scenes in the French capital reflect how critical Chinese … [Read more...]
LVMH Puts a Ring on Tiffany & Co.
French luxury mega-conglomerate, LVMH has announced a deal to buy American luxury icon, Tiffany & Co. The deal is valued at $16 billion. The Wall Street Journal reports: LVMH Moët Hennessy Louis Vuitton SA said Monday it had reached an agreement with Tiffany that values the U.S. company at $135 a share, a day after The Wall Street Journal reported that the companies had reached a preliminary agreement. The $16.2 billion deal gives LVMH a classic American brand that has struggled with weak demand at home and abroad. It is also a bet on China’s economy and its consumers, whose … [Read more...]