A gold-digger's ultimate 'must-have' was just launched on Bloomberg (Bloomberg is basically the information portal that almost every finance person uses). Yesterday, Bloomberg announced a revolutionary RICH monitor that will track (to the second) the worth of the world’s biggest billionaires. Funny, while many 'opportunistic ladies' are understandably delighted, the people at Forbes are pretty pissed off because their RICHEST List used to be the ultimate sugar-daddy almanac.
Fully acknowledging counting other people's money is tacky, I admit I had a little peek (curiosity killed the cat). However, I’m glad I looked at the list. Because move over 'petro-daddys', guess which industry appears the clearest path to billions? With a clear majority (8 of 20 billionaires), it is RETAIL!! I was actually surprised and excited as this is a sector I know and follow closely.
Everyone loves a little retail therapy but anyone living in Asia knows the Chinese take it to a new level! And it could get crazier. There is an ongoing rumor that China will cut taxes on luxury goods. Still to-be-confirmed, nevertheless often cited. And wow has the China consumer come a long way on the luxury highway. Most popular brands being Rolex, Chanel, Valentino and LVMH. This is why I am happy I got my Birkin binge out early (even though it's prohibitively heavy) and now strictly stick to Vintage Chanel. Not only has pricing gone parabolic, you risk running around HK looking like a Mainland Mistress if you're sporting the new stuff.
Judging from the Sugar-Daddy list, however, it’s not always sweetest at the top! The retailers who excel are those on the extreme ends of the barbell strategy. Be high end or low end. Either LVMH or H&M/ Zara/ Walmart/ Ikea basically. Seriously wide spectrum but they are finding some common ground. Note the Target website crashed when Missoni introduced a label and now I'm hearing of lines at H&M on their MARNI line. Of course these budget lines fall a little short of Gold-digger apparel but hope for mere mortals.
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