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Venus Williams' net worth nearly 100 times greater than fiance Andrea Preti's

Venus Williams' net worth nearly 100 times greater than fiance Andrea Preti's

Economic Times3 days ago
HOW VENUS WILLIAMS BUILT HER WEALTH
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Tennis Prize Money: $42 million
Endorsements & Sponsorships: $30 million
Apparel & Business: $10 million
Real Estate: $17.7 million
Vehicles & Luxury Goods: $3 million
Total Net Worth: $95 million
HOW ANDREA PRETI BUILT HIS WEALTH
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Legendary tennis player Venus Williams ' net worth is estimated to be around $95 million, making it nearly 100 times greater than that of her fiance, Andrea Preti . While Preti has carved out a respectable career as a model, actor, and producer in Italy, his estimated net worth is reportedly $1 million.Venus, on the other hand, has amassed her fortune through an illustrious tennis career, endorsements, and business ventures, including her interior design firm and fashion line.Despite the financial gap, the couple seems focused on their shared connection, keeping their relationship largely private as they prepare for a September wedding in Italy.Over her remarkable 25-year tennis career, Venus earned around $42 million in prize money, thanks to consistent top-level performances and deep Grand Slam runs. During her peak seasons, she reportedly pocketed up to $2 million per tournament at major events, according to financemonthly.com.Off the court, Venus has been just as successful. She earned an estimated $6 million annually through endorsement deals with top brands like Nike , Wilson, and Gatorade. In 2018, she signed a multi-year $5 million partnership with Porsche, further solidifying her commercial appeal.Venus is also a savvy entrepreneur. Her fashion brand, EleVen by Venus Williams, brings in about $10 million a year. Additionally, she supplements her income with public speaking engagements and appearances, adding approximately $1 million annually to her impressive earnings portfolio.Venus' real estate portfolio reflects her elite status. She owns a stunning $12 million beachfront estate in Palm Beach, Florida, featuring private tennis courts and spa-level amenities. For seasonal getaways, she retreats to a $4.5 million home in the Hamptons, offering seclusion and coastal charm. Additionally, Venus maintains a $2.2 million residence in St. Louis - a personal nod to her childhood roots and family ties.Preti's estimated net worth is approximately $1 million, built through a diverse career in the entertainment and fashion industries. His income sources include acting roles in television and film, directing projects such as the 2014 film One More Day, and a successful run in modeling. He has also participated in several fashion campaigns and made appearances on Italian television, including reality shows like La Talpa. While the full extent of his assets remains private, Preti's lifestyle and professional presence suggest a steady level of success and financial stability within the European entertainment world.
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The great thrift valley: How the Northeast became India's style underground
The great thrift valley: How the Northeast became India's style underground

Time of India

timean hour ago

  • Time of India

The great thrift valley: How the Northeast became India's style underground

LINE FROM MANIPUR Live Events NE LINE TO MAINLAND (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Online thrift is not for the faint of heart. In the fastest-fingers-first world, you have to call dibs on an item the moment it is released on the Gram. The drop is announced via Stories. You set the alarm, turn on notifications and still you might miss what you had set your heart on after seeing it in a sneak-peek. There are no pre-bookings and no favourites. But that is the thrill of thrifting—the one that got thrifting—a common term for buying second-hand, preloved goods—gains traction in India, the Northeast is emerging as the hub. A lack of retail shops in the past has created a culture of thrift in northeastern states where secondhand goods arrive in bales. Add to this their unique sense of style— and urban audiences in the rest of the country can't get enough of thrift lines from the north eastern states have secondhand markets—from Fancy Bazaar in Guwahati and Police Bazaar in Shillong to Bara Bazaar in Aizawl, Sunday second-hand market in Imphal and Hong Kong market in Dimapur Manipur-based Ngahon Tungshangnao , who set up his store Mirinwon in 2019, says it takes days to find the right products. He visits every thrift store in his hometown Ukhrul and travels to Imphal city and even other states to source. The clothing usually arrives in bales of 80-100 kg. 'I do drops twice or thrice a week on Instagram , sourcing items according to the seasons.'Tungshangnao, who loves his bucolic life with a side of high fashion, says it is convenient to start an online thrift store in the Northeast , but it has not been easy of late. 'Political instability poses challenges. And the internet gets banned whenever there's a riot. With no private couriers, one can't make quick deliveries either,' he Rachel Gwanile Thong started her store Assortments2.0 in 2016. 'I began by selling pieces from my wardrobe that I didn't wear anymore. To my surprise, people were interested. That encouraged me to start thrifting and sourcing pieces,' she says, adding that the interest has only grown of who runs the operation with her partner Limatenzuk Ozukum, sources everything from Nagaland—mainly Kohima and Dimapur. 'In the early days, I used to go around second-hand shops and dig through everything myself. Now, we have vendors who give us a heads-up when they open a new batch and we get the first pick. We source in bulk,' says says logistics is a challenge, but her customers have come to realise that quick shipping and fast deliveries are not possible from does two-three drops a week. 'I don't always follow themes, unless I happen to have a good collection of similar pieces. Otherwise, it's more of a 'what caught my eye' approach,' she contrast, Folkpants, run by the sisters Linno and Lumri Jajo, from Ukhrul, puts out thematic drops. Lumri Jajo says thrifting was a natural progression of their love for clothes and fashion. 'During college, we organised successful garage sales at our home in Delhi,' she says they observed a lack of quality and unique clothes at affordable prices for conscious consumers. As they sourced for their personal wear, they decided to curate items that didn't fit their style but were too good to pass up. Folkpants has recently done an all white edit for summer, a linen edit and even a vest edit. Jajo says, 'There are many thrift shops but some sell cheap items without quality or authenticity, while others have high prices but less curated selections. We stand out by offering quality products at reasonable prices.'With thrift shops launching on Instagram on a daily basis, curation, quality control and deliverables are the way risk analyst Aparna Balaji has thrifted from shops in Nagaland and Arunachal Pradesh, and says they understand the meaning of thrifting. 'They carefully choose the pieces they put up. So, it's unique. It is sent through India Post , making it even lighter on the pocket and truly sustainable, what thrifting is meant to be,' says bag designer Sudha Sekhar has faced some issues. 'I am particular about the cut and fabric. These pages mostly get products from East Asian countries that almost always have smaller sizes. But some experiences have been good, like my footwear picks. I have been wearing some for three years,' she says. An abundance of polyester also bothers Shaingam Mashangva who runs The Mellow Lane says she tries to curate according to her clientele. 'One needs to really do some homework for the business to thrive. Understanding the customer's choice is very important. Since 90% of my clients are from places that are hot and humid, I mostly source comfortable natural materials,' says Mashangva, a physics teacher-turned-thrift business says sourcing good pieces has become tough: 'Sometimes after going through 1,000-3,000 items, we end up with just 40-90 good pieces.' She does a drop of 20-25 pieces. She sells 30-50% of clothes on the day of the drop but ends up with a lot of unsold items, which are put on sale after a couple of says, 'When you are selecting from 100 kg bales, you end up with a lot of defective pieces.' Most thrift shops, while selling items, mention even a small defect in products and that is reflected in the owners confirm demand from the mainland. Thong, who is a lawyer, says that even though Assortments2.0 is a side hustle, she has seen steady growth and strong support over the years. 'With more people embracing sustainable fashion, we are seriously thinking of scaling this into something bigger, hopefully a full-fledged brand.' Most of her buyers—from teens to people in their 40s and 50s—are from metro Tungshangnao started Mirinwon as a side hustle, but now it's a full-time business, thanks to the growing demand. He says, 'Thrifting has become cool. My consumers are from all over India, and they are 18 to 45 year olds.'Yet challenges remain. Mashangva says that each year the price of thrifted clothes is increasing as bad-quality thrift bales make it harder to get good pieces: 'While it's easy to set up an online thrift store, it is difficult to build followers because of the Instagram algorithm. And the number of followers matters a lot for this business.'Jajo says that whether the thrift stores will succeed depends on the individuals running it. 'We started small but have grown into a sustainable business over the past six years. Demand and growth have been steady, with 80% customers returning.' Jajo says many find the process of searching for unique items interior designer Lorraine Kerr told The Cut in 2013 on why she thrifts: 'The chase is the most fun part…. It's about the hunting and gathering!' The thrill of discovery is just a fingertip away.

New dilemma looms for India's private hospitals: More beds, but few can lie in them
New dilemma looms for India's private hospitals: More beds, but few can lie in them

Economic Times

time4 hours ago

  • Economic Times

New dilemma looms for India's private hospitals: More beds, but few can lie in them

Live Events MUTED PROFITABILITY INVESTOR LINEUP RISE OF SPECIALISED CARE (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel There is a new dichotomy looming on the horizon for India's private hospitals Capacity expansion lined up by top players and recent record investments and blockbuster deals in the sector may result in a transition from capacity crunch to overcapacity in a short span in major urban areas, even as the number of beds continue to be an issue in small cities and to estimates by leading healthcare consultants and industry experts, more than 50,000 beds are likely to be added in the organised hospitals sector in the next three-four years, with chains like Apollo Healthcare, Aster DM Healthcare, Fortis Healthcare and Max Healthcare leading the affordability problems persist, though the situation is improving. While the addition of more beds can help close the gap in India's poor bed to patient ratio—1.4 beds to 1,000 people—data shows that 75% of the healthcare infrastructure in metro cities is catering to a third of their World Health Organization(WHO) recommends about three beds per 1,000 people; Indian public health standards recommend a minimum of one bed, desirably India's metros, there are 2.5-3.5 beds per 1,000 people, but when it comes to quality, the bed density varies from as low as 0.4 to 1.0, estimates Kaivaan Movdawalla, partner and Healthcare Sector leader at EY-Parthenon numbers point to the need for more affordable healthcare delivery from private hospitals, something that can enable an increase in capacity utilisation and drive long-term good news is that demand for private healthcare has been growing. 'Post Covid, we are seeing a much greater momentum towards organised quality private healthcare,' said Movdawalla.'The key supply drivers are the high disease burden, expanding middle class and unlocking of demand for the bottom of the pyramid through social insurance,' he added.'A discernible shift of demand towards organised quality hospital segments is evident now. We see a demand-supply gap for quality beds to the tune of 25-40%,' he without affordability, filling them might remain a also warn that the flow of investment and the wave of capacity expansion lined up by leading chains in the next 3-4 years could weigh on profitability and margins of the leading hospital financial services firm Macquarie in a recent report maintained a cautious stance on Indian hospitals due to an upcoming capacity deluge with organic bed addition in the next four years slated to be four times that of what was added in the last five years. The report stated that profitability improvement in existing hospitals remained muted and even small bed capacity expansion was driving profitability compression. 'We expect private hospitals to add 40% capacity organically in the next 3 years… Eight large-listed hospital chains are slated to add over 15,000 beds in the next 3-5 years versus addition of about 3,400 in the last five years,' the report notwithstanding, the sector which has seen a flurry of investments in the last few years — especially post Covid — continues to remain a private equity favourite. Last week, Bengaluru-based Manipal Hospitals bought Pune-based Sahyadri Hospitals Group from Canada's Ontario Teachers' Pension Plan (OTPP) for around ?6,000 crore. Integration of Sahyadri with it will take Manipal's total capacity to about 12,000 Bengaluru-based hospital chain, Aster DM Healthcare, recently became the second largest healthcare chain in the country in terms of revenue after its merger with Blackstone-backed Quality Care. The company is eyeing the number one position, deputy managing director Alisha Moopen told terms of bed capacity, Aster DM may be leading by a whisker with a total of 10,300 beds after the merger compared with the country's largest pan India hospital chain by revenue, Apollo Hospitals, which has a bed capacity of 10, DM plans to add 3,300 beds in the next couple of years, taking the total number of beds to 13,600. Apollo Hospitals plans to invest ?6,000 crore to add 4,300 beds. 'In the short-term, supply will outpace demand,' said an analyst with a leading brokerage. 'The primary growth driver for most multispecialty hospitals was not volume but it was ARPOB (average revenue per occupied bed — an industry metric), which was led by rate hikes of beds and procedures,' the person from private equity firm Avendus shows that the hospital market in India is estimated to grow to $110 billion in the next 3-4 years from the current $76 billion, growing at a compounded annual rate of 10% driven by strong tailwinds from a rise in lifestyle diseases and increasing affordability. In 2019, or pre-Covid, the healthcare delivery market was $47 billion. Private hospitals and trusts currently constitute a 67% market share. Experts say that rising demand for quality healthcare, higher disposable income in small towns and rural areas and increasing insurance coverage will continue to drive more consolidation and M&As with a sharper focus on patient-centric large multispecialty hospitals are expanding through a combination of greenfield and brownfield expansion, single-specialty hospitals are increasingly gaining traction with rising demand from small towns.'The share of single specialty will become larger in the next four years and the organised players will more than double,' said Anshul Gupta, managing director and head of healthcare investment banking at Avendus single-specialty format, where a hospital typically would have 40-50 beds, presents an opportunity for greater geographical depth compared to multispecialty hospitals where the average size is about 250-300 beds. Specialisations seeing demand include mother and child care, IVF and is sparking consolidation. Large eye care chains like Dr Agarwal's Eye Hospital, Maxivision and others with PE backing have been acquiring anywhere between eight and 10 smaller players every year.'Demand for quality care is going up in rural areas with rising disposable income and for quality care there will be takers. There are a lot of untapped cities where there is demand,' said Bhanu Prakash, partner and Healthcare Services Industry leader at Grant Thornton. 'Focus will be on optimising capacity utilisation and improving ARPOBs,' he said. This is where single-specialty models will play a crucial role, he private equity investments in the single-specialty sector crossed $3.7 billion, accounting for over 35% of total hospital investments in the last 10 years. About 70% of these investments have gone to established specialties such as IVF, eyecare, mother & childcare, dialysis and is also a significant growth opportunity — especially for single specialty hospitals — in smaller cities such as Lucknow, Vizag, Jaipur, Kochi, Siliguri, Guwahati, Bhubaneswar, Patna, among others, with an increasing number of consumers wanting access to quality healthcare closer rising demand and lack of supply are prompting larger players also to expand in non-metros. Aster DM, for instance, will expand operations to cities such as Indore, Raipur, Aurangabad and Bhubaneshwar.

Sole searching: Who represents Kolhapuri slippers? Turf war breaks out
Sole searching: Who represents Kolhapuri slippers? Turf war breaks out

Time of India

time5 hours ago

  • Time of India

Sole searching: Who represents Kolhapuri slippers? Turf war breaks out

A turf war has broken out over the authority to represent the Geographical Indication (GI)-tagged Kolhapuri slippers, amid the Prada spotlight. While one party has proposed collaboration with the Italian luxury fashion house, the other has threatened legal action and demanded damages. After showcasing a Kolhapuri-inspired sandal without acknowledging the source, Prada later admitted its oversight. It discussed the matter with the Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA) and later, sent its supply chain team to India to explore a potential collaboration with local artisans. Explore courses from Top Institutes in Select a Course Category Operations Management MBA Finance Public Policy Degree Project Management healthcare Product Management Leadership Data Science Cybersecurity Data Science Artificial Intelligence PGDM Design Thinking MCA others Technology Data Analytics Others CXO Management Digital Marketing Healthcare Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details However, the Karnataka government-backed Dr Babu Jagjivan Ram Leather Industries Development Corporation (LIDKAR) approached the corporation's legal adviser to take action against MACCIA, accusing it of overstepping its authority in dealing with Prada, according to a copy of the letter seen by ET. A legal notice will be sent on Monday to the trade body, according to a senior official. Strong Stance The Karnataka body, on July 1, also served a legal notice to Prada, seeking ?500 crore in damages for GI infringement and ordering the company to 'cease and desist' from marketing or selling the sandals. The notice warned that failure to comply would compel LIDKAR to initiate civil and criminal proceedings. ET has seen a copy of the notice. In its response on July 9, Prada stated it had 'not used the term 'Kolhapuri' or any associated GI markings in the naming, marketing, or presentation of its footwear.' The company concluded the note by saying it was in discussions with MACCIA and would be 'in a better position to respond more substantively following the outcome of the upcoming discussions with the chamber of commerce.' Live Events LIDKAR managing director KM Vasundhara said the body has also issued notice to the chamber 'for their unilateral and unauthorised actions concerning the GI rights.' The body's stance is clear, she said. 'Any discussions regarding GI-tagged Kolhapuri chappals must follow the legal framework and cannot be initiated independently by non-statutory bodies like MACCIA. Hence, legal recourse was taken to protect the interests of artisans and uphold GI laws.' This escalation is the latest in a series of confrontations between the trade chamber and the two GI tag holders— LIDKAR and Maharashtra's Sant Rohidas Leather Industries & Charmakar Development Corporation (LIDCOM). While MACCIA has taken the lead in engaging with Prada, including facilitating the brand's India visit, LIDKAR adopted the legal route. The chamber first wrote to Prada on June 25, setting the wheels in motion for the brand's visit to Kolhapur, where it toured production units and met with footwear artisans. But three days before MACCIA's virtual meeting with the international brand on July 11, the Karnataka body issued a notice, demanding it stop all negotiations and asserting MACCIA had 'no legal authority to represent, negotiate, or enter any agreement with Prada or any third party concerning Kolhapuri chappals, which are GI-protected under Indian law,' and for the chamber to 'refrain from all public and private negotiations, promotional activities, or discussions regarding Kolhapuri chappals,' according to a copy of the letter ET has seen. In its response on July 12, MACCIA proposed that both GI tag holders be 'formally introduced to the international brand as recognised producers and authorised stakeholders of the GI product,' and urged LIDKAR to reconsider its stance and 'join hands with MACCIA and the wider artisan community to collectively shape a framework that protects heritage while opening doors to responsible international engagement.' Prada's team has toured several local units with MACCIA president Lalit Gandhi—including one operated by LIDCOM—but senior officials from both GI tag holders were notably absent. Gandhi said the trade body's goal is 'empowerment of artisans and to get the market for Kolhapuri chappals at global level.' Prada is expected to provide its evaluation report internally and respond to the Maharashtra chamber next week.

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