Welcome to The Weekly Edit, your curated digest of the latest in the world of luxury. Each week, WLCC brings you a handpicked selection of industry news, insights, and stories influencing the future of high-end fashion, design, travel, real estate, and beyond. Consider this your insider’s guide to the latest in luxury.
Above: Image from ARTnews
Klimt’s ‘Portrait of Elisabeth Lederer’ Fetches $236.4M at Auction
Gustav Klimt’s Portrait of Elisabeth Lederer sold at Sotheby’s for $236.4 million after a prolonged bidding contest, setting new highs for both the artist and any modern artwork at auction. Opening at $130 million, the work drew two competing phone bidders before selling for a $205 million hammer price. The portrait led the sale of the Leonard A. Lauder Collection, acquired by Lauder in the 1980s. Created between 1914 and 1916 and completed after years of revisions, the painting survived wartime seizure and was returned to the family in 1948. Its sale now ranks second only to Salvator Mundi in auction history.
Via: ARTnews
Holiday Season Spurs Fierce Competition Among American Multi-Brand Retailers
This holiday season, American luxury retailers are aggressively competing for shoppers as Saks struggles and Ssense faces bankruptcy. Competitors, including Bloomingdale’s, Mytheresa, FWRD, and Nordstrom, are targeting top customers, vendors, and employees from weakened rivals. Saks has faced declining sales, late payments, and leadership changes, while healthier players are hosting events, enhancing personal shopping, and investing in technology to boost loyalty. Retailers aim to differentiate through service, inventory, and exclusive experiences. Despite broader economic challenges, some brands report growth, showing that demand for luxury remains, especially among top clients who drive a large share of revenue.
Via: BOF
Luxury Group Richemont Sees Sales Climb to €10.62 Billion
Swiss luxury group Richemont reported strong performance in the first half of its financial year, driven by its jewellery and watch brands, including Cartier, Van Cleef & Arpels, and Buccellati. Group sales rose 5 percent to €10.62 billion, with notable growth in the US (+15%) and Europe (+23%). The company highlighted the importance of its established market presence and brand desirability, which helped maintain resilience despite economic pressures such as US tariffs. Exceptional pieces in jewellery, watches, and accessories continued to attract consistent demand across regions, contributing to overall revenue growth and market optimism.
Via: Jeweller Magazine
Above: Image via Rachael Griffiths from BOF
Hermès Names Anne-Sarah Panhard Head of Perfume and Beauty Division
Hermès has appointed Anne-Sarah Panhard as managing director of perfume and beauty, effective November 1, succeeding Agnès de Villers. Panhard previously led Hermès Maison and presided over its silverware label, Puiforcat, and joined the company in 2011 as general manager of its Faubourg Saint-Honoré flagship. De Villers will remain chairwoman of Hermès perfume and beauty and take on a new role as executive vice-president of Hermès Maroquinerie-Sellerie métiers. The appointment follows a five percent decline in perfume and beauty sales in the third quarter, attributed mainly to a lack of new product launches, signaling a need for renewed momentum in the division.
Via: BOF
Diamond Transparency Takes Center Stage in De Beers’ Latest Report
De Beers Group has issued its 2025 guidance to address the growing presence of synthetic diamonds in the market and reinforce industry transparency. The updated framework requires Sightholders to separate natural and lab-grown stones, conduct thorough supply-chain risk assessments, and use accredited gemmological testing tools. Smaller diamonds (0.08 carats and below) are now covered by the Melee Assurance Protocol, which ensures traceability, secure packaging, and third-party verification. By clearly defining natural, synthetic, and simulant diamonds, the guidance strengthens accountability throughout the supply chain, supports honest disclosure, and protects consumer confidence in the authenticity of diamonds globally.
Via: WLCC
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