Who's still dropping $320,000 on a watch these days?
In the May issue, Miles Socha reports on the current breed of big spenders, from Saudi Arabia to Shanghai. “There’s still a lot of cash in the world,” says Bernard Fornas, president and CEO of Cartier. And be assured, the Cartiers of the world know how to deliver the goods.
—A princess from the Gulf region was thinking of buying some clothes for her family and asked if a selection could be sent over to her suite at the Principe di Savoia hotel. John Hooks, deputy chairman of Giorgio Armani Group, gave the go-ahead to dispatch the goods. Her final purchases totaled roughly $500,000. “The more service you throw into it,” says Hooks, “the better.”
—At the de Grisogono boutique in Geneva, a gentleman from Turkey rang to inquire about the jeweler’s new Meccanico dG watch (above), which has a patented dual analog and mechanical digital display. After a quick e-mail exchange came a transfer of funds and, one day later, a private plane to collect the timepiece (which retails from $320,000). “It cost him a fortune, but there are still people spending like they used to,” marvels de Grisogono founder Fawaz Gruosi.
—A businesswoman from Dubai recently came into Selfridges in London to buy gifts for her coworkers, only to blow $110,000 on clothes and accessories for herself. Then, remembering her original purpose, she made a beeline for the store’s Wonder Room, chockablock with luxury watches and jewelry, and dropped another $31,000.
Luxury executives say that they’re starting to see big spenders from China, Indonesia, Brazil, Ukraine, Azerbaijan and Thailand. Read the full story HERE.