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News on Medial
Luxury companies pin their hopes on winter and wedding shopping
Livemint
·
8m ago
Medial
Early trends suggest a revival of sales momentum in the second half of the fiscal year at luxury hotspots in India. The ongoing festive season, including weddings, is expected to make up for slow sales earlier this year. In Delhi, luxury brands like Aquazzura and Brunello Cucinelli are experiencing brisk sales despite high prices. South India is also witnessing strong sales in the luxury sector, particularly in accessories, clothing, watches, and home categories. Mumbai's Jio World Plaza has seen new store openings, while French luxury brand Cartier is experiencing increased demand for watches and jewellery.
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Mark Zuckerberg got major timepiece envy over Anant Ambani's Richard Mille watch
Business Insider
·
1y ago
Medial
Facebook CEO Mark Zuckerberg expressed his newfound interest in watches after admiring Reliance Industries' Anant Ambani's luxury timepiece at a pre-wedding party. The incident was captured in a video that went viral on social media. Zuckerberg and his wife, Priscilla Chan, were attending the Ambani family's event as guests. The watch that caught their attention was made by Richard Mille. Other notable guests at the party included Microsoft founder Bill Gates and Ivanka Trump. Zuckerberg's comment about the watch has sparked interest in his potential interest in luxury watches.
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Amazon rolls out passwordless sign-ins for users on iOS and web
Economic Times
·
1y ago
Medial
Amazon is introducing passkey support for browsers and iOS mobile shopping apps, enabling customers to access their accounts using passwordless sign-in. Customers can set up passkeys in their Amazon settings, using their face, fingerprint, or device PIN to sign in. Passkeys are designed to be more secure and user-friendly compared to traditional passwords. They cannot be written down or easily guessed, making them a more secure option and less susceptible to phishing attacks. Passkey support is gradually rolling out for the iOS Amazon Shopping app and will soon be available for Android.
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Fancy founder returns with $1,000-per-month luxury shopping startup, Long Story Short
TechCrunch
·
1y ago
Medial
Long Story Short is a luxury e-commerce startup founded by Joseph Einhorn, known for his previous venture The Fancy. The platform operates as a private shopping club that requires a $1,000 monthly fee to access its curated collection of 50,000 luxury products. The service offers privacy and security to high-net-worth individuals, managing transactions on their behalf and keeping their identity anonymous to sellers. By eliminating marketplace fees and establishing direct relationships with vendors, LSS aims to reduce the cost of luxury items by 20% to 40%. The startup has already attracted customers ahead of its launch.
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Luxury brands getting set to open new doors, to be ready by festive quarter
Livemint
·
1y ago
Medial
Several luxury brands are opening new stores in India ahead of the festive season, indicating a potential boost for the industry after a slowdown due to extreme summer heat and general elections. Brands such as Aquazzura, Diptyque, Baccarat, and Golden Goose are set to launch stores in Delhi, Mumbai, and Bengaluru. Luxury shopping centres like DLF Emporio and The Chanakya are also planning to add new brands and expand their offerings. The rise in luxury consumption in India is attributed to the country's growing affluent population and rising disposable incomes.
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Walmart experiments with AI to enhance customers' shopping experiences
Economic Times
·
1y ago
Medial
Walmart is exploring the use of artificial intelligence (AI) to improve customer shopping experiences. The company aims to leverage AI technologies to develop smarter customer assistance tools and enhance the overall shopping journey. By analyzing customers' shopping patterns and preferences, Walmart hopes to personalize the shopping experience and provide tailored product recommendations. This move showcases the retailer's commitment to embracing technological advancements to stay competitive in the market.
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Zomato CEO Deepinder Goyal marries Mexican entrepreneur Grecia Munoz
Money Control
·
1y ago
Medial
Zomato CEO Deepinder Goyal has recently married Grecia Munoz, a Mexico-born entrepreneur and former model. Munoz is currently working on her own startup focused on luxury consumer products. This is Goyal's second marriage, and the couple reportedly returned from their honeymoon in February. The news of their wedding was revealed through social media posts and circulated online. Goyal is the founder and CEO of Zomato, a popular food delivery platform operating in over 1,000 cities in India. Recently, Zomato faced criticism for its "pure veg" delivery fleet, which was later dropped due to safety concerns for delivery executives.
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LVMH doesn’t have the luxury of pulling back from China
Livemint
·
1y ago
Medial
Bernard Arnault, the CEO of luxury conglomerate LVMH, remains committed to investing in China despite the country's economic slowdown and geopolitical tensions. China has been a key market for LVMH, accounting for around 20% of its global sales. While other firms have been reducing their exposure to China, Arnault believes in the potential of the Chinese market and its growing middle class. LVMH has made significant investments in China, including renovating stores and planning a shopping and entertainment complex on Hainan Island. Despite the challenges, Arnault sees China as a key market for the luxury industry's future growth.
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Wealthy Indians tap into bathroom luxury with $18,500 Alexa-powered toilets
VCCircle
·
6m ago
Medial
Wealthy Indians are splurging on luxury bathrooms, featuring $18,500 Alexa-powered toilets, to emulate futuristic, hygienic experiences seen abroad, particularly in Japan. Companies like Kohler, Toto, and Hansgrohe are capitalizing on this trend, expanding their presence in India with experience centers and strategic partnerships, targeting the increasing number of millionaires. Despite economic disparities, luxury home sales soared, underscoring a rising trend towards home pride and comfort among affluent households in India.
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India's wedding economy over $130 billion in size, second only to groceries: Jefferies
Money Control
·
1y ago
Medial
According to a Jefferies report, India's wedding industry has grown to $130 billion and is the second largest consumer-driven industry after food and groceries. The report highlights that the average Indian spends around Rs 12 lakh ($15,000) on a wedding, which is even higher than their spending on education. India hosts a large number of weddings annually, with strong regional preferences for categories such as jewellery, apparel, food, and beverages. The wedding industry also contributes significantly to sectors like catering, decoration, photography, and travel. Destination weddings are becoming increasingly popular, showcasing India's heritage locations as destinations for couples from around the world.
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OpenAI CEO Sam Altman just got married
Business Insider
·
1y ago
Medial
Sam Altman, the CEO of OpenAI, has married Oliver Mulherin, a software engineer. Photos of their intimate wedding in a tropical location were shared on social media. The couple has kept their relationship relatively private, but they have made public appearances together, including attending a White House dinner. Both Altman and Mulherin share a mutual interest in AI, and Altman has expressed the desire to have children soon. Further details like the wedding location and date are unknown.
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