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Spotlight
Riyadh ramps up efforts to conquer luxury sector

Saudi Arabia is trying to establish itself as a fully-fledged player in the luxury sector. © Studio Pachamama

Alongside China and South Korea, Saudi Arabia is one of the most dynamic luxury markets. It now hopes to convert rampant consumerism into buoyant business and make a name for itself in the sector. To that end, it is trying to build bridges with European countries, as well as major luxury groups, but with mixed results so far.

Subscribers only Saudi Arabia Entourage

Families

Bulgari sisters' squabble goes global

Following three months of failed mediation efforts, the legal dispute between Veronica and Ilaria Bulgari, great-granddaughters of the luxury jeweller's founder, is playing out between New York, Switzerland and Italy.

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Richemont bails out Azzedine Alaïa Foundation

Headed by the founder of Elle Italia, Carla Sozzani, the foundation created by designer Azzedine Alaïa before his death in 2017 was for a long time running at a loss. As of last year, it has been back in the black, thanks to generous donations from its patrons.

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Houses

Pinel & Pinel off the hook with Rolex but not with its own shareholder

Sued by Rolex since 2019 for selling a display case inspired by its watch designs without permission, the trunk-maker Pinel & Pinel has now had its name cleared in court. But the company's finances are still a concern for investment fund Corely, its majority shareholder since 2016.

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Luxury goods and government battle to save Italian fashion expertise

Faced with a shortage of labour and the country's economic situation, luxury brands are forging more and more public-private partnerships to maintain their exclusive Italian know-how. But the results to date have been far from conclusive.

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Entourage

Front Row
Pascal Morand and the politics of fashion

Pascal Morand, executive chairman of the Fédération de la Haute Couture et de la Mode (FHCM).© Studio Pachamama

Every week, Glitz presents "Front Row," offering an insider's view of the luxury sector's most influential figures, from household names to the ones-to-watch. This week: meet Pascal Morand, the politically-minded number two at France's Fédération de la Haute Couture et de la Mode (FHCM), who has forged a network stretching far beyond the world of fashion and luxury.

Free access France

Saks store closes after struggling to pay its rent

Experiencing serious difficulties like its fellow American counterparts Barneys, Bergdorf Goodman and Bloomingdale's, the luxury retail chain Saks has been facing a rent problem in one of the East Coast's main shopping destinations.

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Paris 2024: Daft Punk disaster throws sponsor LVMH off track

Talks between the Paris 2024 Olympic Games organisers and the helmeted electronic music duo, revealed in September by Glitz.paris, have fallen through, much to luxury giant LVMH's dismay.

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