Latest news with #LuxuryBrands
Al Bawaba
3 days ago
- Business
- Al Bawaba
Nadine Nassib Njeim was robbed in Cannes, $20,000 Hermes bag
ALBAWABA - Renowned Lebanese actress Nadine Nassib Njeim recently took to social media and revealed that a thief stole a $20,000 Hermes bag from her in France, after she attended the 2025 Cannes Film Festival. In a clip circulating on social media, the actress expressed her anger towards the incident and mentioned that the robbery occurred after she checked in her bags at the airport. Additionally, Njeim shared in disbelief that the Emirates Airlines staff are investigating the matter. However, she said that they offered her unfair compensation, which "wouldn't even buy an accessory for the Hermes bag," emphasizing its hefty price. The robbery sparked widespread debate on social media, with many users raising topics about image and overpaying for luxurious items such as her $20,000 Hermes bag. Others referenced China's recent videos about luxurious brands, criticized Njeim, and wrote, "Don't be upset, Nadine. Basically, all the international brands are manufactured in China, and their cost is a thousand times less than what you paid." They added, "I mean, if you paid $50,000, its real price in China is $500. So, you should be upset about your stupidity and the stupidity of others who pay these amounts. Go to China and buy all the brands, and there is a discount there too. Ridiculousness."
Yahoo
24-05-2025
- Business
- Yahoo
Royal family's favourite wine merchant to open in Washington
Britain's oldest wine merchant has set its sights on America amid growing demand for luxury British brands across the Atlantic. Berry Brothers & Rudd is planning to open its first ever US store in Washington in the coming months. Founded in 1698, Berry Brothers & Rudd is known for its ties with the Royal household, having been the official wine supplier to the Royal family since the beginning of the reign of George III in 1760. It has offices in Hong Kong, Singapore and Tokyo as well as London, but the opening of a store in the US capital would mark its first bricks-and-mortar expansion in the US. It comes amid rising interest in British heritage brands in America. Companies such as Fortnum & Mason have been expanding their presence stateside in a bid to tap into increasing appetite for authentic British goods. UK gunmaker Holland & Holland has credited a jump in its US sales from £425,000 to £2.1m last year to an influx of millionaires to Texas. It runs a gun room in Dallas. The company said at the time: 'There's always been a long standing appreciation for the brand in the US. Affluent Americans love the English aristocracy, Royal family and our links [with the Royal family]. That connection is a very romantic notion for a lot of affluent Americans.' It follows a deepening of ties between the Trump administration and Sir Keir Starmer's Labour Government. A meeting at the White House in February at which Sir Keir gave Mr Trump an invitation for a state visit from the King was widely hailed as a 'love-in', while the more recent signing of a trade deal between the US and UK was described as a 'fantastic, historic day' by Sir Keir – even though it still left many companies facing a 10pc tariff to export their products to the US. A spokesman for Berry Brothers & Rudd said: 'This marks a key milestone in our international growth and we look forward to serving a wider community of customers across the US.' Expansion comes as the British wine industry reels from a barrage of tax increases that the industry says has made the UK a less appealing market to do business in. Bosses are grappling with rising National Insurance contributions for employers and the incoming Extended Producer Responsibility packaging tax, as well as a shake up of alcohol taxation which has inflated administrative costs. A senior wine industry executive said: '[The Government is] genuinely killing our industry. It's not hyperbole, everyone's just in despair. Nobody can invest. Everyone's been driven to go and do business abroad now, because there's no point doing much here.' 'The fine wine business is beginning to move out of the UK.' the person added. The decision by Rachel Reeves, the Chancellor, to raise employers' National Insurance (NI) contributions was one of several factors that Berry Brothers & Rudd blamed for a decision to cut around 30 of its 400 staff this year. Emma Fox, the chief executive, said at the time: 'Like many businesses, we are having to make some very difficult but necessary decisions in the face of extremely challenging global market conditions, as well as significant cost pressures, high inflation and recent increases in NI contributions.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
24-05-2025
- Business
- Telegraph
Royal family's favourite wine merchant to open in Washington
Britain's oldest wine merchant has set its sights on America amid growing demand for luxury British brands across the Atlantic. Berry Brothers & Rudd is planning to open its first ever US store in Washington in the coming months. Founded in 1698, Berry Brothers & Rudd is known for its ties with the Royal household, having been the official wine supplier to the Royal family since the beginning of the reign of George III in 1760. It has offices in Hong Kong, Singapore and Tokyo as well as London, but the opening of a store in the US capital would mark its first bricks-and-mortar expansion in the US. It comes amid rising interest in British heritage brands in America. Companies such as Fortnum & Mason have been expanding their presence stateside in a bid to tap into increasing appetite for authentic British goods. UK gunmaker Holland & Holland has credited a jump in its US sales from £425,000 to £2.1m last year to an influx of millionaires to Texas. It runs a gun room in Dallas. The company said at the time: 'There's always been a long standing appreciation for the brand in the US. Affluent Americans love the English aristocracy, Royal family and our links [with the Royal family]. That connection is a very romantic notion for a lot of affluent Americans.' It follows a deepening of ties between the Trump administration and Sir Keir Starmer's Labour Government. A meeting at the White House in February at which Sir Keir gave Mr Trump an invitation for a state visit from the King was widely hailed as a 'love-in', while the more recent signing of a trade deal between the US and UK was described as a 'fantastic, historic day' by Sir Keir – even though it still left many companies facing a 10pc tariff to export their products to the US. A spokesman for Berry Brothers & Rudd said: 'This marks a key milestone in our international growth and we look forward to serving a wider community of customers across the US.' Expansion comes as the British wine industry reels from a barrage of tax increases that the industry says has made the UK a less appealing market to do business in. Bosses are grappling with rising National Insurance contributions for employers and the incoming Extended Producer Responsibility packaging tax, as well as a shake up of alcohol taxation which has inflated administrative costs. A senior wine industry executive said: '[The Government is] genuinely killing our industry. It's not hyperbole, everyone's just in despair. Nobody can invest. Everyone's been driven to go and do business abroad now, because there's no point doing much here.' 'The fine wine business is beginning to move out of the UK.' the person added. The decision by Rachel Reeves, the Chancellor, to raise employers' National Insurance (NI) contributions was one of several factors that Berry Brothers & Rudd blamed for a decision to cut around 30 of its 400 staff this year. Emma Fox, the chief executive, said at the time: 'Like many businesses, we are having to make some very difficult but necessary decisions in the face of extremely challenging global market conditions, as well as significant cost pressures, high inflation and recent increases in NI contributions.'
Reuters
19-05-2025
- Business
- Reuters
European stocks slip as US credit downgrade, China data weigh
May 19 (Reuters) - European stocks dipped on Monday, snapping a five-week winning streak, as a surprise U.S. credit rating downgrade and weak economic data from China weighed on investor sentiment. The pan-European STOXX 600 index (.STOXX), opens new tab was down 0.5% by 0725 GMT, retreating from seven-week highs touched on Friday. U.S. stock index futures fell more than 1% and longer-dated U.S. Treasury yields rose after credit rating agency Moody's cut its ratings on the country's debt, citing concerns about the nation's growing $36 trillion debt pile. Euro zone government bond yields also edged higher. Meanwhile, luxury stocks declined after April retail sales data from China missed expectations. Hermes ( opens new tab, Burberry (BRBY.L), opens new tab and Moncler ( opens new tab each dropped about 2% as European luxury firms count on China as a big market for their products. Shares of BNP Paribas ( opens new tab rose 2.4% after the French bank announced a share buyback plan worth 1.08 billion euros ($1.21 billion). Volkswagen ( opens new tab tumbled 3.1% as the German automaker traded ex-dividend. ($1 = 0.8921 euros)
