Giant 2,492-carat diamond found in Botswana mine; largest diamond found in over 100 years – Times of India

Botswana has unveiled one of the largest diamonds ever discovered, a 2,492-carat gem taken out from Karowe Mine. According to the Associated Press, this discovery is set to be showcased on Thursday, marking it as the biggest diamond ever found in the country and the second-largest ever extracted globally.Canadian mining company Lucara Diamond Corp reported…

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Michael Burke named LVMH Fashion Group chairman and CEO – ET Retail

Michael Burke PARIS: LVMH veteran executive Michael Burke has been appointed chairman and chief executive of LVMH Fashion Group, overseeing the luxury goods group’s fashion labels, it said on Thursday. Burke – chairman and CEO Bernard Arnault’s longest-serving lieutenant – replaces long-time Fashion Group head Sidney Toledano, who was named advisor to Arnault and will…

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Luxury slowdown prompts fears of inventory pile-up over key holiday season – ET Retail

PARIS: Early holiday shopping season discounts from high-end fashion retailers like Bergdorf Goodman on New York’s Fifth Avenue raised concern that a lacklustre Christmas could lead to inventory gluts – potentially dragging labels into a discounting spiral that would cheapen their image. The latest U.S. credit card data from Barclays released on Wednesday showed that…

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Reliance attracts luxury brands from Gucci to Louis Vuitton to its space amid India’s economic boom – ET Retail

Representative image Global luxury brands such as Gucci, Cartier, and Louis Vuitton, among others, have signed leases for retail spaces in a new Mumbai mall developed by Asia’s richest Mukesh Ambani, as the brands and Reliance Industries look to tap lucrative prospects presented by India’s robust economic growth and the swift increase in the number…

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Christian Dior leases space at RIL’s Jio World Plaza in Mumbai’s Bandra-Kurla Complex – ET Retail

The Indian arm of the French multinational luxury fashion house Christian Dior SE has leased nearly 3,320 sq ft retail space from Reliance Industries in its Jio World Plaza in Mumbai’s business district Bandra-Kurla Complex (BKC) for a term of 9.5 years The global brand already operates stores in key Indian cities including Mumbai, Delhi,…

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