Ridiculousness from Qatar to Japan
The ridiculousness of the uber riche hit an all time high this week in Japan and Qatar with purchases that show stupidity rather than status. Normally on the Good Life we highlight over-priced uber luxe living but millions for a special car number plate and thousands for two mangos… Super-rich Qataris are splashing out millions on “fancy” car number plates in an online auction run by a government department. So far, more than 4.2 million Qatari riyals ($1.1 million) has been pledged on just 24 separate and unique car registration numbers being auctioned by the interior ministry of the energy-rich state. The bidding started on Tuesday afternoon and ends on […]
China’s luxe market is shrinking
It’s shinking, diversifying and buying elsewhere, says Bain & Company. China’s luxury market shrank last year, a global consultancy said, attributing the decline to a national anti-corruption campaign, slowing economic growth and changing consumer tastes. Sales of luxury goods in mainland China fell`1% to 115 billion yuan ($18.5 billion) in 2014 compared to a year earlier, Bain & Company said. The consulting firm, which has been surveying the market since 2000, said it was the first time the industry had contracted. China has become an ever more important destination for luxury goods manufacturers as the ranks of its wealthy have been swelled by a decades-long boom. Swiss giant Richemont, the […]