Luxury goods giant LVMH cancels $14.5B deal for Tiffany

NEW YORK (AP) — Luxury goods giant LVMH is ending its takeover deal of jewelry retailer Tiffany & Co., saying the French government had requested a delay to assess the threat of proposed U.S. tariffs and amid wider industry troubles caused by the pandemic.

The Paris-based conglomerate said that both the French government and Tiffany had requested that the closing of the deal be postponed by a few months. The French government, it said, wanted to assess the impact of the possible U.S. tariffs on French goods.

As a result, LVMH said, the $14.5 billion deal — which would have been biggest ever in the luxury market and was scheduled to close Nov. 24 — will be canceled.

Tiffany replied that it’s suing to enforce the merger agreement, which was signed in November 2019. The New York company said LVMH’s argument has no basis in French law. Tiffany also said that LVMH hasn’t even attempted to seek the required antitrust approval from three jurisdictions.

“We believe that LVMH will seek to use any available means in an attempt to avoid closing the transaction on the agreed terms,” said Roger Farah, chairman of Tiffany, in a statement.

Shares in Tiffany slid 6% in afternoon trading in New York. Those in LVMH, which owns 75 brands including Christian Dior, Fendi, Givenchy and Tag Heuer, were stable.

The deal’s value came under strain during the coronavirus pandemic, which caused retail sales to plunge around the world. Tiffany’s share price has been trading around $125 a share for weeks - below the $135 per share price that LVMH had agreed to pay last fall, before the pandemic.

Back then, industry experts had said the deal made sense. Tiffany, known for its delicate jewelry, distinctive blue boxes and an Audrey Hepburn movie, had been trying to transform its brand to appeal to younger and more digital shoppers, and could have used an owner with deep pockets to help expand.

LVMH, led by billionaire Bernard Arnault, had thought the deal would strengthen its position in high-end jewelry and in the U.S. market. LVMH was also making a bet on China’s economy, where Tiffany had been expanding its presence.

The pandemic threw all those assumptions and plans in doubt, and the threat of new tariffs between the U.S. and Europe was cited as a further complicating issue.

Before COVID, the global market for personal luxury goods was solid, reaching a record high of $307.1 billion (260 billion euros) in 2018 — a 6% increase from the year before, according to consulting firm Bain & Co. That sector slipped by 2.1% to $331.9 (281 billion euros) last year, according to Bain estimates. But given COVID’s financial fallout and the shutdown of tourism worldwide, those sales could drop by 20% to 35% in 2020, Bain estimates. Bain expects that personal luxury sales won’t recover to pre-COVID levels until 2022 and 2023.

Tiffany’s global sales declined 29% during the fiscal second quarter ended July 31, following a 45% drop in the fiscal first quarter.

Last year, France sought to impose a tax on global tech giants including Google, Amazon and Facebook. The French tech tax is aimed at “establishing tax justice.” France wants digital companies to pay their fair share of taxes in countries where they make money instead of using tax havens, and is pushing for an international agreement on the issue.

In response to the tech tax, the U.S. threatened to slap 100% tariffs on $2.4 billion of French products.

The two sides are at a tense truce as France has said it would delay collection of the digital tax until December, parking the issue until after the next U.S. presidential election where Trump hopes to secure another four-year term.

In a press conference on Wednesday, French government spokesman Gabriel Attal confirmed that a letter was sent by French Foreign Minister Jean-Yves Le Drian to LVMH and referred to international talks about U.S. tariffs as a “very important issue.”

“The (French) government is neither naive nor passive. We have objectives that we want to reach,” he said. He wouldn’t further elaborate and said that Le Drian is expected to express his views on the issue in the coming hours.

CFO Jean Jacques Guiony of the LVMH insisted in a phone interview with reporters that the letter received Sept. 1 from the French government was legal and valid and left the group no choice.

“I don’t think their objective is to please or not to please LVMH. They don’t give a damn…,” he said. “The letter is legally valid, is legal. When you get such a legally binding and legally valid letter, you just apply it…We will apply it.”

Asked about lowering the price to keep the deal alive, he said that had not even been considered as there is no article in the contract that would allow that.

“The deal cannot take place .. we are prohibited from closing this transaction … we have no choice.”

As for the threatened law suit, the CFO said that he doesn’t “see a way in between” the arguments the two sides could put forth – we don’t do the deal on Nov. 24 and they saying that you have to do it anyway, he said.

“We’ll see what happens.”

________

AP Writers Sylvie Corbet ad Elaine Ganley in Paris contributed to this report.

Associated Press

Versace and Furla join designer labels ditching fur

MILAN (Reuters)—Italian fashion house Versace and handbag and accessories maker Furla said they would stop using real fur in their creations, joining a growing list of luxury labels turning their backs on the fur industry.

Fashion houses around the world are bowing to pressure and using alternatives to real fur amid pressure from animal rights groups and changing tastes of younger customers, who are increasingly aware of the environmental issues linked with the clothes they buy.

Donatella Versace, the artistic director and vice-president of Versace, said that she did not want to kill animals to make fashion and that it “it doesn’t feel right”, speaking in an interview with The Economist’s 1843 magazine on Wednesday.

People for the Ethical Treatment of Animals’ (PETA) Senior Vice President Dan Mathews said in an emailed statement that it was “a major turning point in the campaign for compassionate fashion”, adding that he looked forward to seeing a “leather-free Versace next”.

The animal rights group recently campaigned at the Pyeongchang Winter games for an end to the fur trade.

Furla on Thursday committed to replacing all fur with faux-fur for both menswear and womenswear starting from its Cruise 2019 collection.

Italian fashion group Gucci, part of Paris-based luxury conglomerate Kering, said in October it would stop using fur in its designs from its spring and summer 2018 collection joining Armani, Hugo Boss, Tommy Hilfiger, Calvin Klein and multi-brand online luxury retailer Yoox Net-A-Porter.

British designer Stella McCartney has long followed a so-called “vegetarian” philosophy, shunning not only fur, but also leather and feathers.

source: interaksyon.com

Actress Jane Birkin asks Hermes to remove her name from croc bag

PARIS | Actress and singer Jane Birkin has asked Hermes to remove her name from one of the luxury goods maker’s best-selling bags due to what she called “cruel” crocodile farming and slaughtering practices.

“I have asked Hermes to rename the Birkin Croco until they adopt better practices that meet international standards for the production of this bag,” Birkin said in a statement to the media on Tuesday.

Birkin said she had signed actor Joaquin Phoenix’s Mercy For Animals petition to “shed exotic skins from your wardrobe” in protest against the “millions of reptiles slaughtered each year and turned into shoes, handbags, belts and other accessories”.

People for the Ethical Treatment of Animals, or PETA, said it had released a video, narrated by Phoenix and which Birkin had seen, showing how live reptiles were skinned or sawed open on farms that supplied luxury brands.

Hermes said the crocodile skins it sourced from a Texas farm in the video were not used for Birkin bags and stressed that it did not own that farm.

The luxury brand also said that an investigation was being conducted into the farm’s practices and that “any breach of rules will be rectified and sanctioned.”

Hermes said it imposed on its suppliers the highest ethical standards regarding the treatment of crocodiles and for more than a decade, had conducted monthly checks on them to ensure that they were respected.

“Hermes respects and shares her (Jane Birkin’s) emotions and was also shocked by the images recently broadcast,” it said in a statement.

“Her comments do not in any way influence the friendship and confidence that we have shared for so many years.”

Birkin agreed to lend her name to the bag after sharing a flight with the charismatic late head of Hermes, Jean-Louis Dumas, in the 1980s.

The crocodile Birkin and the Kelly bag, named after actress Grace Kelly, are among the most sought-after luxury goods — even though the starting retail price is more than 20,000 euros ($22,096) – partly because shops routinely run out of them.

Customers can obtain one either by putting their name on a waiting list or by paying hefty fees to specialized buyers who scout for the bags on their behalf.

A fuchsia Hermes crocodile Birkin bag with a diamond-studded clasp and lock set a record as the most expensive handbag ever sold at a Christie’s auction in Hong Kong last month, fetching $222,000.

source: interaksyon.com

Italy sells luxury state cars on eBay

ROME — Italy’s government on Friday said it had raised 371,400 euros ($513,200) so far in an eBay auction of luxury official cars in a symbolic effort to cut outrageous spending by ministries that has sparked public anger.

The 52 cars sold were being used by the police, the fire brigade and the defence ministry and included five BMWs and two Audis, the government said in a statement.

“The average final price was 7,142 euros,” it said.

A total of 151 chauffeured cars will be auctioned off by May 16 in an initiative that has gained broad public support and was launched by centre-left Prime Minister Matteo Renzi shortly after coming to power in February.

The cars yet to be sold include eight armoured Maseratis formerly used by the defence ministry. A brand new Maserati can cost around 100,000 euros.

The government said the official cars chosen for sale were “those that the public administration retains no longer essential for institutional ends”.

As Italy struggles to recover from a painful two-year recession, national and local authorities have been forced to cut down on thousands of official cars known as “auto blu” (blue cars) that have been for decades one of the many perks for the political class.

source: interaksyon.com

Vertu expands in PH, releases latest phone model

MANILA, Philippines — Vertu, a provider of luxury mobile phones has just expanded in the Philippines, opening their own store at the ground floor of the new East Wing of Shangri-La Mall in Ortigas.

The high-end brand also launched a collection of smartphone models dubbed as Constellation. The phones are said to be handmade in England using the “finest luxury materials”, including high-quality European calf leather as part of the casing.

“We have designed a modern, minimal phone that is sleek and understated,” said Ignacio Germade, head of Total Product Offering at Vertu. “While Constellation takes Vertu in a new design direction, materially it embodies everything that the brand has been renowned for—tactile materials, outstanding engineering, and craftsmanship, and modern technology.”

The Constellation boasts a 5.1 inch piece of sapphire crystal weighing more than 100 carats to cover its entire front, where a 4.3 inch 720p high definition screen sits. This scratch-resistant screen should virtually remain untainted for the phone’s entire life.

It’s also equipped with a Grade 5 titanium casing, a material stronger than stainless steel but weighs half as much, making the phone durable and light.

The Vertu model runs on Android 4.2 Jellybean and powered by a Qualcomm Snapdragon dual core 1.7 GHz CPU; also equip with a 32GB internal memory, a 13MP rear-facing camera with full HD video (1080p), a front-facing Skype compliant 1.3MP camera, Wi-Fi, Bluetooth, and NFC.

Even more compelling are the ringtones, which have been especially composed for Vertu by the London Symphony Orchestra.

As for battery life, the Constellation can last up to two days after a single charging session.

Until June 2012, Vertu was owned by Nokia, wherein the Finnish mobile phone maker sold the majority stake of its luxury phone business to a private equity group EQT for a reported $250-million.

source: interaksyon.com

Rio Tinto pink diamonds fetch record prices

SYDNEY - The annual sale of Rio Tinto's rare pink-hued diamonds attracted unprecedented interest with at least two of the stones fetching record prices of over $2 million, the mining giant said Monday.

The 2013 Argyle Pink Diamonds Tender of 64 red, pink, and blue stones drew a record number of bids over $1 million from established markets such as Japan and Australia as well as emerging markets China and India.

The highlight was the Argyle Phoenix, a 1.56 carat gem and one of three Fancy Red diamonds on offer, which sold for more than $2 million to a Singapore-based jeweller, the highest per-carat price paid for any diamond ever produced from Rio's Argyle mine in Western Australia.

The exact price was not disclosed due to client confidentiality.

Another record was set for the Argyle Dauphine, a 2.51 carat Fancy Deep Pink diamond, which also sold for more than $2 million, to a US-based dealer.

Rio's Pink Diamonds manager Josephine Johnson said the prices reflected "increasing demand from the world's top jewelers, designers, collectors and connoisseurs."

"These fabulous flukes of nature are a good news story in the mining industry at the moment," she told AFP.

"There was a lot of interest from our established markets such as Australia, the United States, Japan, and Europe but also China and India, where there is now very strong demand."

A pink diamond is usually worth about 50 times more than a white diamond, although a 118.28-carat white diamond broke a world record earlier this month when it fetched more than $30 million at a Hong Kong auction.

Given the rare pink stones are only offered once a year and demand is high, previews were held in Sydney, New York, Tokyo, Hong Kong, and Perth earlier this year to allow clients and experts to see the gems and make offers for individual diamonds.

The Argyle mine produces virtually the entire world's supply of pink diamonds, with the red seen as the pinnacle of the color scale.

It is not known how the diamonds acquire their rose tinge but it is thought to come from a molecular structure distortion as the jewel forms in the earth's crust or makes its way to the surface.

"We are delighted with the results for the 2013 Tender collection which are a reflection of their rarity, provenance, and global reach," said Rio Diamonds managing director Jean-Marc Lieberherr.

"The Argyle ore body is extraordinary and after 30 years of production it continues to produce the world's most coveted diamonds."

source: interaksyon.com

Why women Choos to be sexy

Whoever says shoes were made for walking is repeating an un-sexy cliche. As far as many modern women are concerned, shoes were made for looking good, feeling good and hear this well — feeling sexy.

London-based shoemaker Jimmy Choo knows this too well. Feminine power, luxury and sexiness form the peg of every design which recognizes that the ankle and the foot are important erogeneous zones.

To embody this sexiness, Jimmy Choo chose Nicole Kidman as image model. “Nicole's character portrays the multi-faceted qualities of the Jimmy Choo woman for this season — strong, sexy with a beguiling sense of mystery,” says creative director Sandra Choi.

Nicole Kidman enjoys stepping into her new shoes as Jimmy Choo image model. “I really enjoy being able to play a role that was strong, sexy and in control. I got into a relationship with the photographer and Mikael Jansson is very intuitive, he knows what I am thinking and feeling and is able to translate it through the camera.“ Mikael “explored themes of film noir and referenced the tension of Hitchcock’s empowered  heroines.”

Looking at Nicole’s photographs,  you can almost hear a sultry whisper and feel “a quiet eroticism” as Choo describes it. Nicole effortlessly looks seductive in the campaign.

Since Jimmy Choo founded his shoe company in 1996 with British Vogue magazine accessories editor Tamara Mellon, the sexy image of the brand has been boosted by red carpet stars as well as personalities like Sarah Jessica Parker who wore Blahniks and Choos for Sex and the City. Princess Diana was also a Choo wearer.


“When a woman goes for a pair of shoes and she really likes it, it's a relationship that no man can enter,” laughs Gerald Liut, Jimmy Choo director of wholesale for Asia. “Choosing shoes involves a feeling, an attitude.”

Liut says stilettos are the mainstay of sexiness. “Stilettos  never left, even if for a while, chunky shoes came in to provide comfort. But what happened was that platforms provided stability and comfort. Even in the ’60s, women wore stilettos and they had to suffer.

“Now we see the return of the single sole. Prada brought it back four years ago and everybody followed. Europe is also bringing back pointed shoes this year. All catwalks and red carpet shoes now are pointy,” Liut notes.

Kitten heels are coming in as well, he adds. “Shoes are now about individuality. I have noticed that women are now more daring and they wear whatever they feel expresses their personality. Even in non-winter climes, I see women no longer afraid to wear boots.”

Flying in town to launch the autumn-winter collection of Jimmy Choo during a lifestyle press lunch hosted at the Peninsula Manila by Anton Huang, EVP-GM of Stores Specialists Inc., Liut feels the vibe of Manila's stylish women. These are women who like looking good and feeling sexy. Yes, they choose Choos.

source: philstar.com

Fil-Am group moves to block sale of Napoles' US properties

MANILA, Philippines -- The Washington-based Migrant Heritage Commission said it will move to block the sale of assets owned by Jeane Napoles, the daughter of Janet Lim-Napoles, in the United States.

In an e-mail to PNA Wednesday, lawyer Arnedo Valera, MHC co-director, said Filipino-American leaders would vehemently block the sale of the luxury condominium unit at the high-rise Ritz Carlton in Los Angeles, which reportedly owned by the younger Napoles, who is studying in America.



Valera said there are suspicions the condominium was acquired with ill-gotten money, as he noted that Jeane is a full-time student with no known source of income of her own.

Valera said it was Balitang America that first reported the sale of the Los Angeles condominium.

American realty websites list the 1,500 square-foot condo, which has two bedrooms and two bathrooms, with a selling price of US$ 1.475 million.

It was purchased for US$ 1.28 million in 2011.

Valera said FilAms should work together to unmask all US properties of Napoles that may have been bought with Filipino taxpayers’ money.

He also called for the "total abolition" of the pork barrel because "it is the breeding ground for corruption and plunder."

Valera said the Napoles family is believed to own at least three other real estate properties in Southern California.

These include the Anaheim Express Inn valued at about $7 million, a $1.4-million home in the affluent Canyon View gated community in Irvine, and a commercial property in the City of Covina.

source: interaksyon.com

A girl's very best friend: $55 million necklace on sale in Singapore

SINGAPORE - For someone with $55 million to spare on an egg-sized diamond, the world's most expensive necklace is on sale this month at a jewelry show in Singapore, reflecting Asia's growing appetite for precious gems and expensive baubles.

Known as L'Incomparable, the necklace created by luxury jeweler Mouawad features a yellow, internally flawless diamond of more than 407 carats suspended from a rose gold setting that is studded with 90 white diamonds weighing nearly 230 carats.

"Serious interest" has been expressed by a couple of potential buyers from Asia, said Jean Nasr, managing director of Mouawad in Singapore, declining to identify their nationalities.

"People who will get something like this are looking at it from a different perspective because this is definitely an investment piece," he told Reuters.

The necklace, whose centerpiece diamond was found by chance in a pile of mining rubble by a young girl in the Democratic Republic of Congo about 30 years ago, will be the flashiest item on offer at the Singapore JewelFest on October 11-20.

But there will be plenty of other glitz from American, European and Asian designers worth another $200 million or so.

Singapore, a tiny Southeast Asian nation with the world's highest concentration of millionaires, has positioned itself as a destination for the ultra-rich with a busy wealth management industry, luxury properties, top hotels, gourmet restaurants, high-end boutiques and two casinos.

While the city-state boasts a very low crime rate, security will be extremely tight with so much jewelry on display at a pavilion outside an upscale mall.

It seems unlikely there would be a robbery in Singapore like the daylight heist of about $136 million worth of jewelry on show at a hotel in the French Riviera resort of Cannes in July.

But Filippo Melchionni, in charge of guarding L'Incomparable and the rest of the jewelry on show, is taking no chances.

Security includes armed guards, plainclothes supervisors, cameras, motion detectors and bullet-proof display cases but the most critical time is when the pieces are shown to customers.

"This is the moment that the stones are under risk because they can be passed hand-by-hand, they can be exchanged," said Melchionni, chief operating officer for Asia-Pacific at the Ferrari Group, an Italian logistics company for luxury goods.

"Every night it is going back to our vault. We have an armored truck to move the stones."

L'Incomparable, completed in 2012 and certified as the priciest necklace in existence by Guinness World Records earlier this year, is an extravagant novelty.

But Asia, especially China, has become an important and resilient growth area for sellers of pricey jewelry, cars, boats, wine, artwork and other lavish items.

Australian miner Rio Tinto Ltd, which showed off its finest coloured diamonds in Hong Kong last month, believes the United States will remain its key market for diamonds but sees China growing fast.

Demand for diamonds in China, now the world's second-largest market after the United States, helped boost global sales at Tiffany & Co. in the latest quarter, leading the US jeweller to raise its annual profit forecast.

The show in Singapore, now in its 11th year, expects some Chinese buyers but many locals and visitors from Indonesia, Malaysia, Thailand, Vietnam, Cambodia and Russia will also be there, said Kean Ng, chairman of the Singapore JewelFest.

"You have the high-end customers but of course you have the browsers coming in and they usually end up buying something that's within their budget," he said.

source: interaksyon.com

Print newspapers could become ‘luxury’: Amazon chief

NEW YORK CITY — Amazon chief executive and new Washington Post owner Jeff Bezos said Wednesday that print newspapers could one day become a luxury item.

“Some day, I don’t know how many years in the future — it could be decades — but I think printed newspapers on actual paper may be a luxury item,” Bezos told NBC in an interview.

“People still have horses but it’s not their primary way of commuting to the office,” Bezos added.

Bezos was questioned on whether he envisions a day when the Washington Post, which he bought in August, is no longer printed.

The Amazon founder shook up the media world when he announced last month the $250 million purchase of the Post, ending decades of control by the Graham family that included the newspaper’s history-changing coverage of the Watergate scandal and other giant stories.

Bezos said in a recent interview that he is eager to experiment with new techniques to win reader loyalty in the digital era, as he tries to reverse the Post’s decline and restore it to profitability.

source: interaksyon.com

Perfect colorless diamond auctioned for record $23.5M

GENEVA - A new colorless, pear-shaped diamond weighing 101.73 carats raked in a record 23 million Swiss francs ($23.5 million, 18.5 million euros) at a Christie's auction in Geneva late Wednesday.

The price, which does not include tax or commission, is the highest ever paid for a flawless colorless diamond, according to the auction house, which had hoped the gem would go for $30 million.

"Twenty-three million (Swiss) francs! Your last chance! Twenty-three million, sold!" Francois Curiel, the head of Christie's jewelry division shouted, clinching the deal before some 150 people gathered for the auction at a luxury Geneva hotel.

Including tax and commission, the total ticked in at $26.7 million, Christies said after the sale of the stone, which is the largest diamond in its category ever to go under the hammer.

The American Institute of Gemology has handed the gemstone the top colorless grade "D" and the best clarity grade, "flawless", which is characterized by its "absolute symmetry", according to Christies.

In the rough, the diamond was 236 carats when it was extracted from the Jwaneng mine in Botswana, before it was meticulously sculpted for 21 months, Christie's said.

Wednesday's auction marked the first time the rock goes on sale, and the buyer will have the privilege of naming it.

Wednesday's sale marked the highest price ever paid for a flawless colorless diamond at auction.

The previous auction-price record-holder in this category was the 84.37-carat Chloe round diamond, snapped up at a Sotheby's auction in Geneva in 2007 by Guess Jeans founder Georges Marciano.

A diamond merchant sold the new diamond, the centerpiece of Christie's traditional May jewelry and luxury watch sale, but it was not immediately clear who the deep-pocketed buyer was.

In the "colorless, flawless" category, the reigning world champion in terms of size is meanwhile the Cullinan Diamond, a gem weighing 530.2 carats that is part of the British crown jewels.

Last November, Christie's sold the 76-carat Archduke Joseph Diamond, in the initially flawless category a notch below flawless, on auction in Geneva for $21.5 million.

And in May 2011, a heart-shaped 56-carat diamond was auctioned off for $10.9 million.

The Elizabeth Taylor Diamond, which is in the same D-colour category but weighs in at only 33.19 carats, was meanwhile sold for $8.8 million on auction in New York in December 2011.

source: interaksyon.com

Swarovski watches sparkle in time for the holiday season

What could be more dazzling than the beautiful Gucci Swarovski peep-toe heels on the feet of fashion model, TV host, and singer Solenn Heussaff wore one evening at Salon de Ning. From her beautiful legs we suggest you browse your eyes up higher to her slim wrists.




These days, you’ll probably see her wearing her equally dazzling Swarovski watch, part of the first-ever chronograph collection launched in Manila that showcases the famous brand name’s elegant timepieces that will definitely be in synch with the merry and bright season.

“We’re really looking forward to sharing Swarovski’s latest watch collection to the Philippine market because we know that we share with them the passion for aesthetically unique products and designs. Filipinos are known to be very fashionable and we’re certain that these watches will complement their style,” said Chris Neff, Swarovski’s head of emerging markets in Southeast Asia.

“Women no longer just wear watches for their function but as an essential part of her wardrobe. The new line of Swarovski watches, for instance, have the precision of Swiss technology and yet are also elegantly designed to complement a woman’s formal or casual look,” Emerson Yao, managing director of Lucerne, the exclusive distributor of Swarovski in the Philippines, told InterAksyon. “Sometimes, all she’ll need to look stylish is a Swarovski timepiece.”

Swarovski’s Watch Collection 2012 includes new lines such as the Octea Chrono that comes in two new trendy colors: anthracite and fuchsia. This stylish chronograph mixes round and linear elements and has the trademark combination of crystals and straps. It also features a unidirectional bezel made of a single piece of crystal. Its second counter, one of the three counters found on the dial, is circled by pavé crystals.

The Octea Sport line, which is available in white rose-gold, carries the same unidirectional bezel made of white ceramic. Its rubber strap with white ceramic elements also adds a sleek and modern appeal. For those who prefer a burst of color, this line is also available in ocean blue and lilac with rubber straps embellished with blue zircon and Light Amethyst Intensive Diamond Touch Light crystals.





Lovely Crystals features five playful and chic watches which come in white, black or magenta and have either stainless steel or calfskin leather as bracelet. However, its most eye-catching feature is its bezel is speckled with 16 zirconian crystals that move in a circular motion with the movement of the wrist.

The best-selling Elis Mini range also has two additions which are included in the latest collection: Elis Mini Silk Diamond Touch Light and Elis Lady Provence Lavender Diamond Touch Light. Among the other pieces, these two are the only chronographs with a pyramidal square case. They also stand out as both feature sparkling Crystal Mesh straps that make them exude an appeal of elegance, luxury and femininity.

source: interaksyon.com

Hotel of the Week: Waimea Luxury Houses in Puerto Galera

Waimea Luxury Houses is located on Sabang Beach in Puerto Galera, Oriental Mindoro. The easiest way to get there from Manila is by bus or private vehicle via Batangas pier. From there, several boat transfer options bound for Sabang are made available. In Puerto Galera, tricycles are the easiest way to get to the Waimea Luxury Houses.

















Website
http://www.agoda.com/asia/philippines/puerto_galera/waimea_luxury_houses_el_galleon_dive_resort_annex.html

Price specials
Regular discounts available year-round on Agoda.com





What makes this hotel a stand out?
Unlike anything else in Puerto Galera, Waimea’s three luxury private villas are a five- minute walk to El Galleon beach resort but offer the privacy of one’s own home. Set in a lush tropical garden, the private villas are built around a gorgeous pool. Each villa has been tastefully decorated, complete with essential amenities. The villas are divided into two sections: downstairs is a self-contained studio flat that is separate from the main house, and the top floor of the villa has two en-suite bedrooms, a mezzanine with balcony, spacious living and dining areas, and kitchen.

What Agoda guests are saying
“A great compound back on the hillside with its own pool and nice landscape. Great view of palms trees out to the ocean.”
—Edwin T, Couple from the US, October 2012

“Conveniently located from the next door Asia Divers, with a bit more modern flair and clean environment compared to the nearby original hotel.”
—Riwa S, family with older children from the UK, September 2012

“Perfect place. The staff members were great; the place is spotlessly clean; we really loved the place and would stay there again.”
—David K, couple from Australia, August 2012

source: interaksyon.com

Burberry warning sends shiver through luxury sector

LONDON - British fashion brand Burberry issued a profit warning on Tuesday, the clearest sign yet that slowing economic growth in China and Europe's debt crisis are bringing a boom in demand for luxury clothes and accessories to a halt.

The company, famous for its raincoats lined with a distinctive camel, red and black check pattern, said it expected underlying full-year profit to be around the lower end of market forecasts.

That sent its shares down 19 percent and dragged down rivals including LVMH, the world's largest luxury goods group.

China has been one of the main drivers of a boom in luxury brands, with consumers eager to buy designer labels, including Burberry's raincoats and other high-end fashions.

But luxury goods firms' shares have wobbled in the past few months over worries about Europe's sovereign debt crisis and slowing growth in China and other emerging markets, where demand for designer brands has managed to offset weaker trends in the United States and Europe.

Morgan Stanley analysts said in a note to clients on Tuesday that Burberry's statement was the first major disappointment for European luxury companies.

Shares in France's LVMH and PPR were both down 4 percent, while Switzerland's Richemont was down 3 percent.

Burberry said comparable store sales didn't grow in the 10 weeks to September 8, the bulk of its financial second quarter, compared with a year earlier. Total sales rose 6 percent, underpinned entirely by new store openings.

That represented a marked slowdown from first-quarter retail revenue growth of 14 percent and comparable store sales up 6 percent.

The company reported a fall in first-quarter sales growth in July, as China slowed.

"Given this background, we are tightly managing discretionary costs and taking appropriate actions to protect short term profitability," Chief Executive Angela Ahrendts said on Tuesday.

Analysts had expected Burberry to post pretax profit for the year to March 2013 of between 407 and 451 million pounds ($652-$722 million), with a consensus of 433.21 million, according to a Reuters poll of 18 analysts.

"Burberry's latest results show that even the top end of the market isn't functioning at full capacity in the current economic climate," said Jaana Jatyri, CEO of fashion forecasting company, Trendstop.com.

"The global economic crisis is dragging on and the longer it drags on the less confident even wealthier individuals become. Unfortunately, people lacking confidence do not shop at Burberry."

source: interaksyon.com

Pacman And Technomarine Score A Knockout Punch

MANILA, Philippines — From celebrities, to politicians, to notable figures in Philippine society, Skye Lounge was a melting pot of people from all walks of life. But for one night, they would all bow down to a global icon—the one, multi talented, Manny Pacquiao.

Last March 2, TechnoMarine launched the limited edition Manny Pacquiao MP8 watch with an event attended by the likes of Pops Fernandez, Cesar Montano, Gloria Diaz and Philippine Azkal, Anton del Rosario, among others.

Set in the breezy Penthouse of W tower overlooking the Taguig skyline, Skye Lounge was tinted with a spectrum of red, blue and yellow surrounding a mini boxing ring. While waiting for Pacman’s arrival, guests were entertained by the wit and beauty of event hosts BorgyManotoc and Georgina Wilson.

But the arrival of Manny Pacquiao was really what kicked the night off.

TechnoMarine, the Swiss brand known for its bold yet distinctive timepieces, teams up with no less than the world’s pound-for-pound king Manny Pacquiao to bring yet another winning creation.The limited edition “Manny Pacquiao 8” or simply MP8 is a testament to TechnoMarine’s continuous innovation, dedication to style and fine craftsmanship. Designed for today’s fun and active individuals who value quality, MP8 brings to fore a “cool” take on luxury as it shows off striking details.

“We are extremely pleased to introduce the limited edition MP8 to the Philippines,” states Rex Mendoza, director of Techno Time Retailers Corp., the exclusive distributor of TechnoMarine in the Philippines. “This timepiece is very limited with only 1,000 pieces that will be produced worldwide.”

MP8 takes inspiration from the country’s very own boxing champ and his unprecedented global achievements. TechnoMarine associates with the world’s best and this partnership with the Pacman is no exception.

The features are evident right from MP8’s eye-catching dial. The number “8” prominently stands out on the face of the watch, symbolizing Pacquiao’s eight world boxing championship titles alongside a yellow sun. The additional red and blue details that accentuate the silver dial give the MP8 an unmistakable Filipino connection. It still retains the signature wave pattern alluding to the water element that has become TechnoMarine’s signature look.

Adding a stylish touch is the red strap that can be interchanged with a white one. Limited edition yellow and blue straps are sold separately to match every mood.

The TechnoMarine MP8 is more than just another bold statement in watch-making. It underlies a timely partnership between an esteemed luxury brand and one of the world’s accomplished professional athletes. This partnership amplifies the brand’s innovative spirit – one that fuses bold designs with the luxury of a fine Swiss watch.

article source: mb.com.ph

Bali’s Most Extravagant Luxury Villas

INDONESIA - Nestled in incomparable beauty, Bali is famous for enchanted landscapes, serene spas and pristine beaches. In a world where luxury villas are standard, discovering the absolute best for an extraordinary getaway is imperative. Vilondo Villa Rental recently presented their list of the most extravagant villas in Bali and their top three picks are the perfect starting point.

"Living like royalty along the warm waters of the Indian Ocean will cost you between 2000 and 4000 USD a day, but as the villas can house up to 20 people, the price per person doesn’t have to be more than the price of a good hotel room," said Stefan Russel, co-founder of Vilondo Villa Rental.

Villa Istana in Bukit Bali Soars 100 Meters Above the Indian Ocean

The five-suite Istana estate rests upon a picturesque cliff on the southwestern tip of the island overlooking white sand beaches and a lagoon abundant with sea life and coral. The impressive cliff-side gazebo offers guests mesmerizing Indian Ocean sunsets, along with the perfect setting for romantic meals, barbeques and gourmet cocktails from a fully stocked bar. Guests can rejuvenate with tranquil spa treatments offered in-house including invigorating body scrubs, signature facials, ultimate manicures and essential pedicures. While adults unwind, children can explore their own wing complete with a playroom and poolroom.

While there are few reasons to leave this immaculate villa that overlooks waves that catch worldwide surfing attention, exploring Bali’s nearby cultural gems such as the revered Uluwatu temple is simple and thrilling in the accompanying refurbished VW convertible and Toyota Alphard.

Eco-conscious Taman Ahimsa Redefines Beachside Paradise

A world of enchanting gardens and fragrant flowers awaits guests at Taman Ahimsa, an eco-conscious "retreat by the sea." The property’s masterful architecture is designed to enhance the gentle surroundings with the natural elements of Bali, creating the ultimate backdrop for a magnificent beach-side vacation. No detail or request is overlooked…guests can immerse themselves in the freeform 20-metre swimming pool lined with green Java stone that employs a low-to-no chemical ozone system that is soft on the earth and gentle on the skin, or lounge under an umbrella on an over-sized rattan sun bed on the surrounding ironwood deck. On-site cooks prepare fresh, wholesome cuisine, using organic produce, ayurvedic ingredients and fresh fish caught daily by local fishermen.

Numerous dining and sitting areas are ideal for leisure breakfasts, poolside lunches, afternoon tea, sublime dinners and sunset gatherings. Therapeutic massages are offered in relaxation pavilions with the best masseurs and Balinese healers on the island. The Nirwana Golf Course, designed by Greg Norman, as well as Tanah Lot, Bali’s most dramatic sea temple, are both just 10 minutes away. The infinite ocean views enjoyed while surfing, rafting, canoeing, horseback riding, fishing and cycling complete this fantasy retreat.

Live the Bali Dream at Villa Atas Ombak in Langun Bali

Magnificent views of the Indian Ocean greet guests as they wake each morning in what is known as one of Bali’s most luxurious beach-side villas. Sprawling over one and a half acres of land, the refined property features five elegantly appointed bedrooms, each with their own private open-air bathroom. With an extensive experienced household staff to take care of all cooking and shopping, as well as to cater to every whim and desire, guests have nothing to do but enjoy the serene beach, two inviting swimming pools, entertainment pavilion, traditionally thatched gazebo and exquisite library.

Additionally, Villa Atas Ombak is a member of the Canggu Club (Bali's first country club) and villa guests are eligible to use the club facilities, including a full gym, spa, tennis and squash courts, football pitch, large pool and all its F&B facilities.

source: mb.com.ph

A Perfect Family Holiday Destination

Traveling to Greece is an experience that one will surely treasure for a lifetime. Greece is located in south-eastern Europe and it's very popular for its diversified beauty perfect for family holiday destination. Greece has a good reputation for its warm hospitality, attractive landscape and large variety of beautiful beaches on the mainland as well as the islands. Each year, there are more than 16 million tourists who enter and visit Greece.




Athens is the capital and largest city in Greece and the most visited place of Greece. The city of Athens has something to offer for all tastes and ages. It offers many advantages for sight seeing, visiting the world's most famous museums.

Athens has historical and cultural significance which is symbolized by many ancient buildings constructed by sophisticated style of architecture. It shows richness of ancient culture and architecture. Visiting Athens grant and offers tourists to have the chance to learn more about the historical and cultural significance of the region, particularly the famous Acropolis. Acropolis -a Greek word which means higher city.



Athens is also known for the exclusive accommodation offered to meet the expectations and needs of travelers. There are many cheap budget luxury hotels in Greece, Athens. The Athens Plaza tops the list of the hotels that travelers should visit.


Shopping in Greece is almost as fun. There are many shops that deals with the sale of modern and elegant signature clothes, shoes etc...in the streets of Mitropoleos and Ermou.


Anyone who wants a perfect ideal travel holiday destination, Greece has something to offer for every person. Just contact your travel agent that you can really rely on.