Tuesday, 21 July 2009

The Rise And Rise Of Fashion’s Billionaires – 21/7/09

Q: What costs US $1million (AU $1.25 million), weighs 30 kilos and sits on a coffee table?

A: The world’s most expensive coffee table book: Wine Opus. Published by Kraken Opus, it lists the world's top 100 wineries. Yes, this book does indeed come with a large selection of the finest plonk and some winery tour invitations. But despite its very hefty price tag, we read in a Decanter.com article that Wine Opus is practically flying off the shelves, with a quarter of the 100 tomes already pre-ordered. It seems there’s nothing quite like a limited edition to boost sales!

One man who may have already secured his copy is Bernard Arnault, the richest man in the luxury goods sector and the wealthiest man in France, who has a nest egg of $16.5 billion.

A recent Forbes article, Fashion’s Billionaires, reminded us that Arnault’s bank balance is still healthy. It also speculated that, "Even if the economy doesn't show us more leg for a while, the fortunes of fashion billionaires – who decide what we wear, where we buy it and what bag and shoes goes with it – should remain relatively flush." We second this statement, and suggest, since Arnault's LVMH group also has an alcohol arm with brands like Moët & Chandon, their influence may also extend to what we drink!

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au