 Business of Luxury Summit – Asia Edition ends Sunday 31 August.
Taking place on 20–21 October 2025 at the prestigious Four Seasons Hotel, Hong Kong, this landmark event will convene 200+ luxury leaders from across Asia and beyond. Together, we’ll explore the future of luxury in Asia, covering M&A and generational wealth, experiential retail, digital innovation, the next boom regions and more. Hear from industry leaders on and off the stage, including:
Secure your place here before 31 August to save $690 on your in-person pass. If you are attending with colleagues, ask about our tailored group booking packages for even greater value. I’d be happy to arrange a quick call this week to discuss your options, or alternatively you can find out more on the website here.
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 Tokyo leads Prime Residential Markets Globally for Capital Appreciation, Reports Savills
Tokyo led the index with an 8.8% rise in capital values, fuelled by strong demand and constrained supply. Berlin and Seoul also performed strongly, each recording growth above 5%, alongside Dubai. The report also highlights mortgage trends across key global markets. In the UAE, buyers typically access loan terms of 15 to 30 years, with both fixed and variable options available. Minimum deposits are set at 15% for nationals and 20% for expatriates. These conditions reflect a relatively mature financing environment that supports both domestic purchasers and international investors, further contributing to the resilience of the prime residential sector. In the prime segment, mortgaging is typically a strategic choice rather than a necessity, and rarely about affordability. Considerations around capital efficiency, availability of liquidity for other investment avenues, risk management and long-term financial structure play a role. Looking towards the second half of the year, Savills anticipates average capital value growth of 1.5% and rental growth of 1% across the 30 global cities tracked. Dubai is expected to remain one of the top performers, especially for capital value growth. “Despite wider macroeconomic uncertainty, Dubai’s prime residential market continues to demonstrate stability bolstered by strong fundamentals,” said Andrew Cummings, Head of Residential Agency, Savills Middle East. “The city’s global connectivity, investor-friendly policies and ongoing infrastructure development continue to underpin its status as one of the world’s leading real estate markets. Lower costs associated with buying and selling property compared to global peers, and further headroom for price growth mean that Dubai’s appeal on an international scale is still very strong.” Dubai has outpaced other global markets in capital value and rental growth of prime property. Across the 30 global cities tracked by Savills in this index, prime capital values grew by 0.7% in H1 2025, while rental values outpaced sales growth with an increase of 2% over the same period. Nvidia’s Market Cap Surpasses Entire Global Crypto Market
Josh Gilbert, Market Analyst at eToro In the same way Apple symbolised the smartphone era, Nvidia now defines the AI era. The stock has become the heartbeat of the market, making up around 8% of the S&P500 weight, the single largest in history. Its market cap now eclipses the entire FTSE 100 and the ASX200 combined, and is even larger than the entire global crypto market, underscoring just how outsized its role has become in global markets. That scale underlines why its earnings dates are fast becoming just as vital to investors as economic and central bank data. Regardless of whether you own Nvidia shares or not, its result will impact your portfolio in some way. According to Josh Gilbert, Market Analyst at eToro, Nvidia’s last earnings in May solidified its position with continued growth, margins most businesses would envy, and a war chest that gives the company the firepower to keep innovating. Demand remains robust, and while there are some bumps in the road due to US tariffs, issues with the Chinese government and a short-term halt on H20 chip production, confidence in the company persists. Though the H20 chip halt will come with short-term uncertainty, demand from US hyperscalers and adoption of its Blackwell chips will likely offset weakness in China. Profit margins will be a focal point this week, after dipping slightly due to the Blackwell build-out. Last quarter’s heavy investment in ramping up next-gen chips trimmed gross margins by a few percentage points, but with adoption growing, margins are set to rise again. In the current quarter, US mega caps have ramped up capital expenditure on AI following another round of strong results, and much of that investment is set to flow straight to Nvidia. That bodes well not only for this week’s earnings, but also for the company’s outlook in the quarters ahead. It’s in a highly enviable position as the go-to hardware manufacturer, and that’s not likely to change anytime soon. Even with the stock trading at a premium valuation, investors continue to pay up on the expectation that Nvidia will keep delivering on AI growth. The market is expecting EPS of USD$1.01 (48% YoY) on revenue of USD$46.1 billion (54% YoY). Nvidia may be the market’s heartbeat, but that comes with the expectation of perfection, meaning even the smallest disappointment could spark outsized volatility across broader markets, not just Nvidia shares. But investors will likely see weakness as an opportunity, given the AI boom feels like it is only just getting started.  LV Rouge Complete Lipstick, €140LV Baume Complete Lip Balm, €140LV Ombres Complete Eyeshadows, €220LV Rouge and LV Baume Refills, €60LV Ombres Refill, €80Available from 29 August 2025 in select Louis Vuitton storesand onlouisvuitton.com
Photography Steven Meisel #LVBeauty #louisvuitton Swatch Group CEO Nick Hayek told Swiss newspaper Blick that Trump’s announcement indicated that tariffs on gold would be painful for the US president. “Now is the time to go on the offensive. Switzerland should order a 39% export tax on gold bars for the US,” Hayek told the paper. “That’s where we have to get at him. That’s his Achilles’ heel.”
The Swiss Association of Manufacturers and Traders in Precious Metals (ASFCMP) said that while ideas to better balance bilateral trade were welcome, careful consideration needed to be given to Switzerland’s longer-term interests. “An export tax on Swiss gold destined for the US would not only harm Switzerland economically, but also damage the reputation of a country that has consistently promoted and defended free trade,” ASFCMP President Christoph Wild said. The Swiss Economy Ministry declined to comment on the proposal, but said the support of business representatives was in general welcome and helped underscore the close economic ties between the US and Switzerland. Trump justified his 39% tariff by pointing to Switzerland’s sizeable trade surplus with the US. Part of that is due to gold exports.  The Top Creators List event returns in 2025 — taking place on September 21 at the Stanglwirt.
For the second time, we bring together leading figures from the digital space — individuals whose content sets standards, drives impact, and reaches wide audiences. New this year: Community Voting. For the first time, the public will have a say in who makes the list. Further details on the program, speakers, and partners will follow soon. Save the Date: September 21, 2025  Gemfields, a colored gemstone miner listed on the London stock exchange, sold the fabled brand to tech entrepreneur Sergei Mosunov’s U.S. company SMG Capital.
Gemfields will receive $45 million when the deal closes later this month, and the remaining $5 million through quarterly royalty payments. The company said it will use the money from the sale to help fund its mining operations for rubies in Mozambique and emeralds in Zambia. Sean Gilbertson, the chief executive of Gemfields, said the company would miss the "marketing leverage and star power" that came from owning Fabergé, despite the fact the brand has struggled in recent years amid a downturn in the luxury goods market. Fabergé has been one of the most renowned jewelers in the world for almost 200 years but has seen revenue fall in recent years—it reported revenues of $13.4 million in 2024, down from $15.7 million the previous year and $17.6 million in 2022.  PARIS, July 30 (Reuters) - Shares in French luxury group Hermes (HRMS.PA), opens new tab fell on Wednesday after it reported a rise of 9% in quarterly sales boosted by continued strong demand for its handbags, but showing some signs it is not totally immune to a wider luxury downturn.
Sales for the second quarter to the end of June reached 3.9 billion euros ($4.50 billion), up 9% at constant currency rates, Hermes said, broadly in line with analysts' expectations for a 10% rise. The appeal of the brand's famous Birkin, Constance and Kelly bags so far has shielded the group from headwinds in the luxury sector, while growth at Hermes's smaller fashion and silk divisions slowed and perfume and beauty sales contracted. Shares in Hermes, France's most valuable company by market capitalisation, fell by as much as 3.9% in early Paris trade. Executive Chairman Axel Dumas said the group noticed weaker demand from first-time clients and so far does not plan further price hikes this year. This year the group raised prices by 7% globally, with an additional 5% hike specifically in the United States, where the company flagged it would fully pass on the effects of tariffs to clients. Try Reuters AI Try Reuters AI These rises would probably suffice to offset the 15% tariff rate agreed between the Trump administration and the EU, Dumas said, although the company still awaited details of how exactly the charge would play out. Hermes maintains tight control over production, raising it at a steady pace of about 6% to 7% per year, frustrating some shoppers who have to wait months for a handbag. That strategy has helped the company buck an industry slowdown as big fashion labels like Chanel, Kering's (PRTP.PA), opens new tab Gucci and LVMH-owned Louis Vuitton and Dior grapple with declining sales. |
Luxury marketsVisionnaire Moralmoda 
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