Wealth management is transforming into ‘a new virtual format in addition to the traditional finance space’, asset manager says.

Fears of a slowdown in spending among Chinese shoppers have dogged the luxury industry for the better part of a year. Gucci’s sales slump may be a sign of things to come.

The Swiss luxury brand recently auctioned 11 suitcases, each containing 11 MoonSwatch Moonshine Gold Hong Kong edition watches via Sotheby’s as part of its CSR efforts to support Orbis.

Hong Kong’s luxury retail market is likely to regain some lost ground in 2024, say observers, as high-end brands return after an exodus sparked by 2019’s street protests and three years of pandemic restrictions.

Japanese police raided a used-car showroom in Chiba recently on suspicion it had attempted to transfer a US$68,000 Lexus to North Korea, according to reports.

As China’s economic growth slows, the world’s luxury brands are setting their sights on the Indian economy.

Kuok Hui Kwong opened a Xiaohongshu account in October 2021, offering an insight into her life and thoughts. If there was one valuable lesson the Shangri-la heiress learned during the pandemic, it was the importance of telling a complete and authentic story to her audience.

Swiss luxury watch brand Audemars Piguet became the latest tenant to sign up for space at The Henderson in Central, lifting the occupancy of Henderson Land’s flagship commercial building to about 50 per cent.

The crisis in China’s real estate sector and high youth unemployment are among concerns weighing on consumer spending, according to a PwC report published on Tuesday.

Sands China reported its first quarterly profit since the end of 2019, ending cumulative losses of US$4.16 billion. A full recovery is just a question of time, analyst says.

Chinese beauty brands are no longer being viewed as “cheaper substitutes” and are being regarded as premium products in China, with domestic names outperforming the broader market over the last five years, Euromonitor International said.

Since mainland China dropped all its travel curbs, the heads of the world’s most recognisable luxury brands have been making a beeline there, with French billionaire Bernard Arnault, the chairman and CEO of LVMH, the latest to make a high-profile visit.

The Global Wealth and Lifestyle Report says Asia remains the most expensive region in the world, with spending patterns of high-net-worth individuals confirming it is the most costly region to live well for the fourth year in a row

The establishment of new gaming centres would pose a major challenge for Macau, the world’s largest gambling hub which has gaming revenue six times that of the Las Vegas Strip.

Sentosa, formerly known as ‘the island behind which lies death’, has a dark and brutal past – and very nearly became an oil refinery.

With the potential for Thailand and the UAE to legalise casinos in coming years, operators are seeking to get a head start.

The return of mainland Chinese tourists boosted Macau casino revenues to 15.6 billion patacas (US$1.93 billion) in May, more than four times what they earned a year ago.

Casino operator posts first-quarter revenue of HK$7.05 billion (US$901.8 million) versus HK$4.1 billion a year ago, with chairman Lui Che-woo saying new facilities will create 900 jobs for Macau residents.

Alidad Tash has a database of every film he’s seen since 1990, and an Excel sheet of his kids’ movie watching. He tells Ed Peters about growing up in Iran under the shah, and the role of chance in his life.

Authorities are keen on building upon Macau’s historical links to Portugal as a means to bolster the region’s economy without depending solely on the 170-year-old gaming sector.

Levo Chan, a former chairman and executive director of entertainment firm Tak Chun Group, among five jailed in junket crackdown.

As many retailers expand their online stores to attract customers, Britain’s most famous grocer Fortnum & Mason believes the future of premium goods and services is all about bringing customers unique in-store experiences.

Sun sets on former Suncity CEO after court sentences Chau and 12 others over handling almost HK$824 billion in illegal bets, unlawful gains of HK$21.5 billion.

Tan Gee Teck was out on probation from a seven-year prison sentence when he was caught in a coffee shop taking bets on the race for US$3.10 a ticket.

Macau’s six casino operators are expected to pump US$14.7 billion into the local economy with non-gaming projects required for new gambling licenses.

A press conference is scheduled for Saturday, where the top executives of the six concessionaires are expected to announce further details about their investment plans, source says.

Macau has approved a new asset-exchange platform backed by Charles Li Xiaojio, the former CEO of HKEX, in the latest sign that the former Portuguese colony is diversifying its economy to cut reliance on gaming and tourism.

Tamil Nadu’s ban on online games like rummy, poker will only benefit fly-by-night and illegal market operators who encourage illicit activities, says gaming federation chief.