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Luxury firms' backstage manoeuvring in French state auctions of seized goods

French authorities are increasingly auctioning off bags, watches and other luxury goods seized from criminals.© Studio Pachamama

To put pressure on luxury brands and force them to keep closer tabs on who they sell to, French authorities are increasingly auctioning off bags, watches and other luxury goods seized from criminals. Such sales are disastrous for brand image, exposing the sector's dirty underbelly.

Subscribers only France Entourage

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Front Row
Divesh Makan, the wealth manager who engineered the split between LVMH and Stella McCartney

As discreet as he is influential, Divesh Makan manages and reinvests the fortunes of Silicon Valley billionaires.© Studio Pachamama

A director at Stella McCartney, Makan helped pull off the move to buy back LVMH's stake in the brand. The South African is also very close to Louis Vuitton creative director Pharrell Williams. His Iconiq fund manages the assets of a host of Hollywood stars who front luxury brands, as well as leading Silicon Valley executives.

Subscribers only United States

Capri's dynasty jeweller seeks path to growth

As owners of Chantecler, the Aprea family are trying to capitalise on the jewellery brand's history to boost its revenues.

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François-Louis Pinault plays growing role in family's art collection

Kering CEO François-Henri Pinault has never shown much interest in the art collection amassed by his father, but his own son, François-Louis Pinault, is playing a discreet and increasingly central role at the Pinault Collection.

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Houses

LVMH sponsors Louvre art school with broader patronage plans on the horizon

The luxury group is poised to become the primary sponsor of the Louvre's project to create a new entrance and renovated exhibition space for the Mona Lisa. Meanwhile, LVMH has just signed a major partnership with the prestigious art history school, the École du Louvre.

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Berluti burdened by debt despite praise from Bernard Arnault

Berluti was lauded by Bernard Arnault at the presentation of LVMH's 2024 results last week, but the Italian shoemaker is nonetheless carrying a heavy debt.

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Lacoste sues Shein in Paris court

In addition to the brand with the crocodile logo, several other firms have launched proceedings against Chinese fast fashion giant Shein.

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Van Cleef & Arpels sets up shop on Paris's Left Bank

Jeweller Van Cleef & Arpels is in the process of opening a second address in the French capital.

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L'Oréal criticised for using its women's fund as publicity

France’s audit court early this month finalised its examination of the L'Oréal Fund for Women’s first years in operation.

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Entourage

Qatari royal family gears up for Printemps New York launch

By choosing the Financial District for its first US address, Printemps, which is owned by the former Emir of Qatar Hamad bin Khalifa Al Thani, is counting on the revival of New York City's former banking quarter.

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