He is a sales director of new development at Serant. Great to have you with us. >> Thank you for having me.>> Um so specifically you're talking about the luxury market which is $4 million plus. And what are you seeing. >> Correct.Um $4 million plus. What we've seen post Mandani is still record numbers. So November was 25% higher than October.Um and 2025 was uh the best year we've had since 2021. We've also seen not just my record sale at 50 mil at $60 million, but we saw another record deal at 140 Jane for ...

Core Insights - Marc Metrick has stepped down as CEO of Saks Global after nearly 30 years, seeking new opportunities [1][2] - Richard Baker has been appointed as the new CEO, tasked with overseeing luxury retail operations and guiding the company's transformation [2][3] Company Overview - Saks Global operates several luxury retail brands, including Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call, and Horchow [3][4] - The company has a portfolio that includes 70 full-line luxury locations, off-price stores, and five separate e-commerce platforms [4]

RT Bloomberg Opinion (@opinion)Chanel’s subway fashion show reveals something really interesting about the luxury market, @AndreaFelsted says 🎥 https://t.co/LZPqBG9Cfk ...

Over the past year, 1 in 3 condo owners in Manhattan who sold sold at a loss. Now, with the election of Mamdani, there are reports that the wealthy could flee even more, going to the suburbs or places like Florida or Texas. But the real reason why Manhattan real estate has been flat over the past decade, and what the wealthy are really doing is a bit more nuanced.I think prices got too high and they've had to come down. So of course people lost money. And you're reading about $100 million transactions, but ...

Market Opportunity - Western luxury merchants have a window of opportunity in China [1] Source - The information comes from @AndreaFelsted and @julianaliu via @opinion [1]

Market Trends - Chinese consumers are shifting away from traditional European and US luxury brands [1] - There's a growing preference for domestic premium brands with distinct Eastern aesthetics [1] - China's luxury market is valued at $49 billion [1]

Market Trends & Consumer Behavior - Spending on foreign premium brands in mainland China has started stalling, with the rise of local premium brands [1] - Chinese consumers are becoming more cautious and selective, seeking personal connection, wellness, and cultural relevance in their purchases [4] - Western luxury brands are adapting by stressing storytelling and experiential shopping, such as building multi-story megastores with retail, exhibition, food, and drinks [10] Competitive Landscape - Chinese premium brands offer experiential and cultural elements in their brand storytelling, attracting Chinese consumers [5] - These brands are positioned as cheaper alternatives to Western luxury brands while still providing good quality products [6] - LVMH's chairman was observed shopping for Chinese brands, indicating a shift in the market [9] Challenges & Uncertainties - The rapid growth of Chinese premium brands started from a relatively low base, making future growth uncertain [6][7] - China's weak economy, lacking expanding population and middle-class income, poses challenges for homegrown luxury brands [8]

Market Trends & Strategies - Louis Vuitton launched "Louie" in Shanghai to navigate China's shifting luxury market [1][2] - Major brands believe China has stabilized but remain cautious about the outlook, retreating to prime locations in major cities [3] Sales Performance - Louis Vuitton reported a 7% increase in China sales in the third quarter [2] Consumer Behavior - "Louie" has attracted hundreds of thousands of visitors since its opening in June, raising questions about their spending willingness [4]

Core Viewpoint - Tapestry, Inc. is experiencing positive sentiment from analysts, with Evercore ISI maintaining an "Outperform" rating and raising the price target, indicating confidence in the company's future performance [2][5]. Company Performance - Tapestry's stock price is currently $105.98, reflecting a decrease of $3.84 or -3.50% [3][5]. - The stock has shown significant volatility over the past year, with a high of $118.56 and a low of $47.22 [3]. - The company's market capitalization is approximately $22.06 billion, indicating a substantial presence in the luxury market [4][5]. - Today's trading volume for TPR is 1,063,241 shares, demonstrating active investor interest [4][5]. Analyst Ratings - Evercore ISI has raised Tapestry's price target from $125 to $129, reflecting improved confidence in the company's earnings prospects [2][5]. - Tapestry has received an upgrade to a Zacks Rank 2 (Buy), suggesting an optimistic outlook on its financial performance [2][5].

Company Positioning - Hermès has reached a unique position in the luxury market [1] - The company operates differently from the rest of the luxury industry [1] - Hermès has become one of the most valuable companies globally [1]