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Diamond industry at odds over funding its global lobbying and advertising

De Beers has pledged to stump up $8m to help the Natural Diamond Council lobby against lab-grown stones.© Studio Pachamama

The Natural Diamond Council, set up to counter the growing threat posed by lab-grown stones, is short of cash. It wants to impose a levy on rough diamonds to pay for its expensive advertising campaigns, but disagreements over who should foot the bill are delaying implementation.

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Families

Rothschilds happily spray millions on perfume house Caron

Though it still enjoys the steadfast support of the French branch of the banking dynasty, the Parisian perfume company is sliding deeper into the red and struggling to hang on to its staff.

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Houses

Cautious Armani keeps tight rein on hotel partner Emaar

The Italian fashion house and the Emirati real estate development company recently announced a joint venture to develop Armani's hotel business. But they appear to remain wary of each other, strict financial clauses having characterised their contractual arrangements in the past.

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Estée Lauder's $1.6 billion facelift

In an attempt to revive its flagging operating margins, the US cosmetics giant has embarked on one of the most expensive restructurings in its history, which looks like costing a billion dollars more than originally envisaged.

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LVMH promotes two new members to its executive committee

The luxury giant is set to announce various senior management changes after publishing its annual results on 27 January.

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Hôtel Costes and Gucci make a right racket in Place Vendôme

Already battling it out in court, the hotel and the fashion house will soon be vying for the title of noisiest neighbour. While Gucci continues to work on its megastore, the hotel is about to give itself a major facelift that will include new garden spaces and an upgraded swimming pool.

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Entourage

Pat McGrath quietly seeks to sell off her brand a year after joining Louis Vuitton

Glitz can reveal that the star make-up artist, appointed in March 2025 to head up Louis Vuitton's beauty care range, is struggling to keep her own brand afloat.

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Hilton takes Michel Ohayon to court over Waldorf Astoria Jerusalem debt

Under investigation in France for misuse of company assets, the French businessman, who owns 26 Galeries Lafayette stores outside Paris and several luxury hotels, is being sued in London by the American hotel group that managed Jerusalem's five star hotel on his behalf.

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