Lorre White, The Guru of Luxury

Four Seasons partners with private jet provider for world tour package

Four Seasons Hotel Lion Palace, St. Petersburg

Four Seasons Hotels and Resorts is raising awareness of its global properties to the most affluent travelers through a world tour package in partnership with jet provider TCS & Starquest Expeditions.

The chain is offering its third 22-day world tour package after its inaugural two packages sold out, this time tapping consumers’ adventurous side. The brand is leveraging its tours by inviting writers on the trip to document and share the experience via Four Seasons’ digital channels.

“Around-the-world trips by private jet have been offered for many years, but in the past five years if they were offered, it was low profile because of the backlash against opulent consumption,” said Karen Weiner Escalera, president and chief strategist at KWE Partners, Miami. “Now, it is significant that it is once again acceptable to offer this kind of hyper-luxury, and people are obviously buying.

“It is also interesting to note that bloggers were invited as guests on this pricey journey,” she said. “It shows how far they have come in influence and clout.”

Ms. Escalera is not affiliated with Four Seasons, but agreed to comment as an industry expert.

Four Seasons was not available for comment before press deadline.

Hello world
Four Seasons’ 2013 world tour departs Sept. 14 from Seattle. Travelers return Oct. 5.

Guests will participate in tailored experiences at each destination. Stops include Seattle, WA; Tokyo; Hangzhou, China; Shanghai; The Maldive islands; Istanbul; St. Petersburg; Marrakech, Morocco; and New York.

Travelers will stay exclusively at the brand’s hotels during the trip including the new Four Seasons Hotel Lion Palace, St. Petersburg, and Four Seasons Hotel Pudong, Shanghai.

Four Seasons Hotel Pudong, Shanghai

Activities include visits to Asakusa and the Sensoji Temple in Tokyo, Dragon Well tea plantation in Hangzhou, the blue lagoons of the Maldives, Grand Bazaar in Istanbul, markets in Marrakech and a gala dinner in New York.

Guests can also choose personalized excursions at each stop.

The world tour is run by the air crew, expedition managers, luggage handlers, physician, chef and on-board Four Seasons concierge. Guests can make arrangements for each tour stop through the staff members.

TCS & Starquest Expeditions will fly guests in a Boeing 757 jet. It will provide a 1:5 crew-traveler ratio.

Boeing 757

Also, art historian, lecturer and writer Charles Doherty and photographer Bob Krist will accompany guests on the 2013 world tour and share information about each destination on the plane.

Guests will also be given iPads that show content relevant to the tour.

Meanwhile, guests are set to depart on Four Seasons’ first world tour Sept. 30.

The brand invited guest bloggers Adam H. Graham and Rachelle Lucas to record the experiences and share them via blog posts, videos, photos and tweets. For example, consumers can follow the journey through the bloggers’ Twitter handles @adamhgraham and @travelbloggr, hashtag #FSJet and Four Seasons’ online magazine at http://magazine.fourseasons.com.

Mr. Graham and Ms. Lucas will also accompany guests on the second world tour starting Oct. 29.

It is likely that Four Seasons will continue its digital trip documentation for future world tours which could help the brand to naturally tell a story to its fans.

Match made in the heavens
Other high-end hotels are partnering with private jet providers to bolster their services. 

For example, Four Seasons Resort Nevis and Magellan Jets partnered to market a Caribbean flight and hotel package to affluent travelers that corresponded with Nevis Island’s Culturama festival.

The hotel package included a private flight and a four-night stay in a suite (see story).

In addition, Flexjet is giving its owners exclusive offers under a partnership with Lake Austin Spa Resort in Austin, TX, that could stir up interest among locals for both Texas-based brands.

Flexjet’s fractional jet owners can now receive room upgrades based on availability, a $100 spa credit and enrollment in the resort’s Monarch Club (see story).

Also, PlaneClear partnered with high-end travel company In The Know Experiences to offer consumers a package for the 2012 London Olympics that included a private jet flight, five-night hotel say in London and access to the most sought-after sporting event this year (see story).

Affluent consumers could be more apt to purchase a package that is inclusive of all services from reputable companies.

Also, luxury hotels and private jet providers can offer a package to their lists of high-net-worth consumers, so these efforts will have a large reach among target consumers.

The more brands increase their exclusivity factor with these packages, the more they can leverage their services to the correct consumers.

“This offering resonates with affluent travelers’ desire for memorable, once-in-a-lifetime experiences,” Ms. Escalera said.

“The implication by association is that Four Seasons offers unique opportunities for destination experiences and a stay in one of the hotels is in itself an experience,” she said.

 

 

 

 

 

 

By Tricia Carr

http://www.luxurydaily.com

2013 Lamborghini Gallardo LP 560-4 Unveiled

Taking the covers off its latest supercar at this year's Paris Motor Show, Lamborghini's 2013 Gallardo LP 560-4 boasts handsome angular curves all round. Looking quite unlike the current Gallardo, the LP 560-4's bumper is blade-like and angular with trapezoidal accents, making it look like quite the aggressive road beast.

Boasting an engine as powerful as its appearance, the vehicle comes rigged with a 560 PS 5.2 liter V10 and new 19-inch polished alloy wheels with cool matte black spokes.

If you're liking what you see, Lamborghini says it will be taking orders for the 2013 model this December in Singapore, with pricing details to be released shortly. The new supercar will also be offered in an alternative Style Package, this time with high-gloss black paintwork on the underside of the front spoiler, front and rear grilles and the transverse element of the rear trim.

Lamborghini

Chinese not welcome in Zadig & Voltaire’s future Paris hotel

According to a report by WWD, French premium fashion company Zadig & Voltaire is opening its first hotel, in Paris. The company took over a gutted private mansion on the Left Bank, on Rue Grenelle, to stage its debut catwalk presentation at Paris Fashion Week. Founder and owner Thierry Gillier revealed the space would house the first Zadig & Voltaire hotel, due to open in 2014.

This was a project dear to our hearts,” he said. “It will be a slightly private hotel, not open to everybody, with 40 rooms. We are going to select guests. It won’t be open to Chinese tourists, for example. There is a lot of demand in Paris — many people are looking for quiet hotels with a certain privacy.”

With the occasion of the ongoing Paris Fashion Week, Thierry Gillier confirmed to WSJ his company’s plans to expand in the U.S., with a fourth store in New York next year, in addition to its existing store in Los Angeles and sales spaces in several Bloomingdale’s stores. In its U.S. expansion, the label will also have support from its shareholder Boston-based private equity firm TA Associates, which bought a 30% stake in the company earlier this year, according to Mr. Gillier.

Zadig Voltaire, store Soho, New York

Louis Vuitton to exit Argentina

 

After Cartier’s recent announcement of an imminent departure, Ralph Lauren’s temporary closure and similar news on Emporio Armani, Salvatore Ferragamo, Escada, Calvin Klein and Yves Saint Laurent, luxury giant Louis Vuitton is the latest luxury brand to exit Argentina, according to Financial Times.

A clampdown on imports has been making doing business increasingly challenging, the luxury retail sector being among the most affected. A slew of foreign exchange controls have made things hard for shoppers,  the latest being an unwritten limit on dollar purchases for Argentines  heading overseas, according to opposition business paper El Cronista Comercial.  And Argentina’s rampant inflation has made the country expensive for foreign  visitors.

Since its 2001 default on nearly US$ 100bn of debt has all but cut the country  off from international credit, Argentina has been applying a policy of “vivir  con lo nuestro” or “live on what we have”. Though it has restructured more than  90 per cent of that debt and has repaid other obligations its dubious inflation statistics and unpredictable policymaking  have increasingly forced it to make a virtue out of such an approach.

Which must explain the reaction of Enrique Meyer, tourism minister, to the  exodus of foreign luxury brands. Nothing to worry about here, he reckons. No,  what matters is the march of Argentine brands abroad, he says, such as clothes  makers Cardon and Pampero, ice-cream brand Freddo, and El Noble, maker of the  much-loved and Cardon’s pasties – which has even opened in China.

Louis Vuitton is the only major international luxury brand which operates directly in Argentina, all other luxury brands being operated in franchising with local partner. Louis Vuitton’s only store in Argentina is in the capital of Buenos Aires on Avenida Alvear (inaugurated 2006).

adapted from the Financial Times

Louis Vuitton store, Buenos Aires, Argentina

 

 

 

 

 

www.cpp-luxury.com

China's Fine Wine Counteroffensive

On the outskirts of Yinchuan, a sleepy provincial capital near the Gobi Desert, workers put the finishing touches on Château Changyu Moser XV, a vast building with white stone walls and black-tiled mansard and domed roofs. If it weren’t for the cast-metal statues of Chinese lions guarding the main gate, it could pass as a classical château found in the cradle of France’s Loire Valley. When it opens soon, the 150-acre estate will serve as local headquarters for Changyu Pioneer Wine, a Chinese vintner that already has ersatz châteaux in other parts of China. This summer the company announced plans to spend $950 million on a “wine city” in eastern China’s Shandong province, complete with two châteaux and a European-style village.

Photograph by Xinhua/Eyevine/ReduxA marble Dionysius greets guests at the Dynasty Château in Tianjin, northern China, completed in 2010

As the country’s nouveau riche continue to spend lavishly on wine, such copycat French castles—as well as Mission-style Napa Valley knockoffs—are rising out of the countryside. In some places winemakers don’t even bother with a vineyard—they just have a castle with a cellar full of trucked-in wines. “I almost don’t care about how good the wine is,” says Chinese architect and winemaker Qingyun Ma. “As soon as I see a fake French château, I think there’s something wrong.”

Ye Rin Mok for Bloomberg BusinessweekWinemaker and architect Ma

Ma, 47, is one of the growing number of Chinese oenophiles who want the wine world to look beyond hyperreal European settings and start thinking of made-in-China cabernet sauvignon or pinot noir without laughing. That’s not easy, since the country has no winemaking tradition of its own. In China, people who wanted a drink traditionally downed shots of baijiu—fierce, clear booze made from sorghum that remains a staple at Chinese banquets. When they tried to make wine, the product was barely drinkable. Shao Xuedong, chief winemaker at Cofco Junding Winery, a state-owned company that operates a Napa-inspired winery in Shandong, remembers when he first started in the business in the 1990s. Back then, “at least 95 percent” of Chinese wine wasn’t real, he says. “It was just some blend of water, sugar, and grape juice.”

Ma’s Jade Valley winery in central China

Emma Gao, 36, is the winemaker at Silver Heights, a family winery in Yinchuan that produces some of China’s most admired vintages. Gao, who studied at La Faculté d’Oenologie de Bordeaux, says many of her neighbors don’t understand what she’s trying to accomplish. “Here, people think a good wine shouldn’t give you a headache the next morning,” she says.

Even so, Gao and other serious vintners see huge potential. Chinese bought 156 million cases in 2011, making the country the world’s fifth-largest wine market, and purchases should hit 250 million by 2016, according to London-based market research group International Wine & Spirit Research. “Before, people would just buy wine to show off, but that’s changing,” says Shaun Rein, managing director of China Market Research Group in Shanghai. “Younger Chinese are drinking it at home.”

Given the poor track record of native wines, it’s not surprising that Chinese first looked abroad. Buyers from China have become major investors in Bordeaux. The official China Daily newspaper estimated in August that Chinese have purchased at least 25 estates in the past year. China is also the world’s biggest importer of Bordeaux wines, accounting for 35 percent of that region’s exports. California wines are popular, too. After retiring from the Houston Rockets, Chinese basketball star Yao Ming launched Yao Family Wines in November. The company produces a cabernet sauvignon in Napa Valley, with French beverage maker Pernod Ricard (RI) distributing it in China.

The emphasis may be on imports, but local wine is improving. More Chinese are going overseas to study winemaking, and critics have noticed: A cabernet red blend by Helan Qingxue, a winery in Yinchuan, last year won the “Best Red Bordeaux Varietal Over £10 International Trophy” at the Decanter World Wine Awards.

Photograph by ChinaFotoPress/Getty ImagesChangyu Pioneer’s winery in Shandong

China’s boutique winemakers hope the plaudits will attract more experts to China to nurture its winemaking culture. France’s Castel Group and Rémy Cointreau (RCO) have both teamed up with Chinese winemakers. Perhaps the biggest name in Bordeaux, Domaines Barons de Rothschild (Lafite), has staked its flag in China, with vines planted and a winery under construction in Shandong. Working with state-owned local partner Citic, the famed French winemaker had a groundbreaking ceremony in March for the 4.3-acre winery. Overseeing the project is General Manager Gerard Colin, a Frenchman with more than 50 years of wine-producing experience who has lived in China since 1997. “I think we can make a wine with balance and complexity,” he says.

Before teaming up with the Rothschilds, Colin helped out a winery just down the road called Treaty Port. At the center of its 52 acres is an imitation 17th century Scottish castle, a stone fortress complete with a Union Jack flying on the flagpole at the top. Finished in 2009, the castle has six bedrooms and a large wood-paneled hall. Don’t expect any European gimmicks from Lafite’s first Chinese operation, however. Colin vows no cheesy castle this time. “We are in China,” he explains. “We don’t do Versailles.”

That’s what Ma likes to hear. Ma splits his time between Shanghai and Los Angeles, where he’s dean of the architecture school at the University of Southern California. He operates a winery and resort near his hometown of Xi’an, in central China, and he’s adding three new buildings, all of them inspired by the simple brick homes of the nearby villages. He’s started a wine-themed feed on Sina Weibo, China’s answer to Twitter, and his company sponsors wine-tasting teams at Chinese universities.

Ma has also launched a consulting business. One client, Star China Investment & Development, hopes to develop a winery and resort in Fangshan, near Beijing, without imitating winemakers from overseas. “Wine is not necessarily something American, French, or Australian,” says Han Yanchang, Star China’s deputy general manager. “It’s also something Chinese.” What sort of building does Han have in mind? “I think it must have a Chinese flavor or style,” he says quickly. “If it doesn’t, then Professor Ma will criticize us.”

Changyu spokesman Gu Dezhou says there’s good reason to build faux châteaux. “Wines are from the West,” he says in an e-mail. “We use this style to show the culture.” Ma isn’t convinced. Peering though the Yinchuan château’s front gate, he can’t contain his anger. “I hate it,” he says. “This place is a serious joke.” Down the street from the castle is a Changyu office building with fake wine barrels as part of its façade. “Kitsch,” Ma says with a sigh. “Kitsch to its maximum vulgarity.”

 

 

 

 

 

By Bruce Einhorn

http://www.businessweek.com

It’s Ladies First for Patek Philippe

Officially called the Ladies First Chronograph, Ref. 7071 shook up the scene when it was released but the men who had been patiently waiting for the new calibre inside – CH 29-535 PS – would have to play second fiddle to their wives…

By Ashok Soman
Photography by EK Yap

Patek Philippe Ref. 7071G-011. The 18k white gold case works exceptionally well with the diamond setting, blue dial and blue alligator strap

In the heady days of 2007, forever a touchstone for the watch industry, brands went in search of the illusive serious women collectors. It is not that women do not buy watches or even that they do not buy luxury watches but they are not the steady and dependable presence that men are in this area. To illustrate the point, simply look through the back catalogues of watches from Christie’s, Sotheby’s and virtually any other auction house and see how many feminine pieces are on offer.

Watch expert and journalist Gisbert L. Brunner even notes that watches set with gemstones tend to fare more poorly in holding their value than plain Jane versions, so to speak. Why should any watch suffer a reduction in value for sporting gemstones you might wonder.

This becomes even more curious when you consider that watch retailers around the world regularly deal with female clients, including those interested in typical collectors’ brands such as Patek Philippe, Rolex and Panerai. It is telling though that by and large, these collectors are looking for men’s watches, and that Panerai does not even make dedicated collections for women. For its part, women’s watches from Rolex are merely smaller versions of existing models.

In 2009 though, Patek Philippe threw down the gauntlet with a variant of the timepiece you see here, Ref. 7071R in 18k rose gold, indicating that the Geneva-based firm believes that women too are interested in fine watchmaking and in watches made specifically for them.

Officially called the Ladies First Chronograph, 7071 shook up the scene when it was released – the manually wound calibre CH 29-535 PS replaces the legendary CH 27-70 –but the men who had been patiently waiting for it would have to play second fiddle to their wives…

With the introduction of the manually wound calibre CH 29-535 PS, the reign of legendary CH 27-70, based on a Lemania movement, is officially over. The rounded edges of the chronograph pushers add a subtle but elegant touch

The question remains though, what are women collectors looking for in a watch specifically made for them, other than annoying their husbands slightly? While for observes and writers, such a question may remain academic or rhetorical, worthy of dinner conversation or endless musing in editorials, this is certainly not the case for watch companies, much less a distinguished and sure-footed player such as Patek Philippe. 7071, in our opinion, forms part of the family-owned brand’s answer to the question. In our review of this excellent chronograph, we attempt to read between the lugs to see what Patek Philippe is getting at.

A Compelling Proposition

Looking at the overall package, 7071 is a compelling proposition and an entirely contemporary one, despite certain obvious Art Deco cues. A glance at the watch should make the inspiration clear but we shall return to that in a moment. Before getting into the design and such, we must emphasize that this is not a dainty watch. It is fully 39mm x 35mm, making it cushion-shaped and rather large by Patek Philippe standards.

The version we examined and shot was in 18k white gold (Ref. 7071G-011) but in 2009, it was only available in rose gold. Whatever the case may be, Patek Philippe is only using precious materials, making 7071 quite heavy. A close relative size and weight-wise is Ref. 4934R-001.

Judging then by just the proportions and the heft, this is not the typical watch for women. In terms of how it wears though, the mobile lugs help a great deal to keep the watch close to the skin and offer better adaptability to different wrist types and sizes.

The white substance on the leaf-shaped hour and minute hands (both 18k white gold) is some sort of luminescent material, most likely Superluminova. There are no less than three styles of hands here, with the counters featuring baton-shaped hands and arrow-shaped for the sweep seconds hand 

So then, 7071 vigorously rubbishes the notion that a woman’s watch must be an exercise in tiny excesses while simultaneously embracing the basic truth that diamonds are a must. If small and highly stylized timepieces are what you are looking for then 7071R is not for you. Indeed, small and stylized are typical characteristics of quartz watches for women, including collections from Patek Philippe such as Twenty~4 and Gondolo. A quick look at the Patek Philippe complications watches for women shows that all the watches so far are in classically solid cases.

Up to this point, Patek Philippe is painting a very serious picture of its ideal lady patron. This continues when we look at the styling of the watch, which brings this review back to the aforementioned Art Deco inspiration. While the 7071 does not harken back to any one watch in particular, it does attempt to address the variety of shapes Patek Philippe worked with in the 1920s and 1930s.

The case is cushion-shaped but the dial adds a circle to the picture, with the diamond setting creating a frame for the timekeeping action. The chronograph subdials add another dash of flair, being oval with a proper circle within. The chronograph pushers complete the picture with their rectangular shape offering contrast against the round crown (not set with any stones). 

The ergonomic shape of the case and mobile lugs as well as the subtle curves are indicative of how much thought Patek Philippe put into executing this remarkable watch

The large Gyromax balance, with its four arms, instantly reveals this to be a Patek Philippe movement. Note the rich interplay between striped, beveled and polished sections

Technical Wizardry

When the watch is turned over though, it enters an entirely new dimension – one in which men were barred entirely in 2009. Just how special is calibre CH 29-535 PS? Well there are no less than six patents associated with it, as listed briefly below.

1. 1. Optimized tooth profile – An exclusive new tooth profile for the chronograph mechanism. This was first introduced in 2005 in calibre CH R 27-525 PS, the split-seconds chronograph movement that delighted enthusiasts immediately. Essentially, it is a system that negates the risk of chronograph hand jump in both directions when the chronograph is activated, limits the shaking of the chronograph hand, improves energy transmission and reduces the effect of wear and tear on the chronograph mechanism.
   
   
2. 2. Enhanced penetration adjustment between the clutch and the chronograph wheel – How the clutch delivers power to the choronograph mechanism is very important and is basically down to how well the teeth of the clutch wheel mesh with the teeth of the chronograph wheel. Patek Philippe’s watchmaking team have utilized a large eccentric column wheel cap that works directly with the tip of the clutch lever. According to Patek Philippe, the new system improves on the penetration between the clutch and chronograph wheel by allowing more precise adjustment.
   
   
3. 3. Better synchronization between clutch lever and blocking lever – Typically, these levers are synchronized in a clever sequential dance by the column wheel. Patek Philippe says its engineers have fitted a finger piece onto the clutch lever that effectively automatically synchronizes this lever and the blocking lever. Again, the advantage is primarily in precision of adjustment for the watchmakers because now only one point needs to be adjusted in the control sequences. The official press release suggests that this innovation also keeps the chronograph hand from jumping on either activating the chronograph or stopping it (See 1).
   
   
4. 4. Pierced-out minute-counter cam – This completely new minute-counter cam has a special slot to prevent abrupt blocking in response to the reset command. As in (1), this reduces the quivering in the chronograph hand.
   
   
5. 5. Self-setting return to zero hammers – Mechanically adjusting the minute hammer function is rendered moot by an intriguing self-setting system, thus enhancing reliability at the same time. 
   
   
6. 6. Hammers pivoted between jewels – This one is arcane, even for us! Apparently, there are now separate and distinct bilaterally jeweled bearings for both seconds and minute hammers on the same axis. Each hammer works with its own heart cam and spring. Near as we can tell, this innovation aligns the hammers precisely in the vertical direction, making them work with greater smoothness. 

At roughly 12 o'clock, the large cap (in mirror polish here) is one of Patek Philippe's major innovations with calibre CH 29-535 PS. In this image, the effect of the mobile lugs is also quite dramatic

Looking at the movement, the finish is clearly fantastic and inline with everything demanding Patek Philippe connoisseurs expect. Every component appears to be elegantly crafted, with traditional bridges that are hand-chamfered, polished and decorated with Cotes de Geneve. Machines certainly played a part here but Patek Philippe says most of the decoration has been manually executed.

Like recent Patek Philippe mechanical movements, this one bears the Patek Philippe Seal as opposed to the once-standard Geneva Seal or Poincon de Geneve. This Seal applies to the entire watch, not just the movement, and is of course a guarantee of Patek Philippe’s commitment to excellence. One important note is that the Seal also guarantees that the finishing has not compromised the functional and performance aspects of the movement and the watch.

By now, you should understand that this chronograph is sublime in action, which you really must see in person to understand. We can attest to the smooth motion of the chronograph hand and the seemingly seamless integration between starting, stopping and resetting the chronograph. Everything simply pops. 

This close-up reveals more innovations with calibre CH 29-535 PS. Above the polished cap at 12 o'clock, you can see the hammers pivoting between jewels. In the center, the improved tooth profile is visible. Below that, the pierced-out minute counter cam can be seen quite clearly

 

Seen at this distance, the beauty of calibre CH 29-535 PS as a whole is obvious and wonderfully old-school. Note also the lovely curves of the lugs, case and chronograph pushers

We grant you that the improvements in calibre CH 29-535 PS are really in the details but these details will matter to the lady who makes this watch her own. Patek Philippe clearly believes that 7071 belongs on the wrist of a precise sort of woman, or a woman who appreciates precision craftsmanship. No issues here as the brand regularly does this in their men’s collection.

Now the Ladies First Chronograph is a sporty watch with diamonds. The diamonds are as integral to the watch as the chronograph mechanism and Patek Philippe is not, to date, offering the watch without diamonds. Each model of 7071 bears 116 full-cut diamonds of various sizes on the dial, meticulously set and arranged to showcase graduations in size. There are a total of 0.55 carats of stones, approximately.

Astute observers will note that no one is likely to wear the watch while engaged in sporty actions (leather straps are all that is offered) so, like the diamonds, the chronograph is really for personal satisfaction and joy. Just as well of course as the pushers are rather smooth and would be slippery if exposed to sweat and the like.

We particularly like the arrangement of the two counters. Note that the subdials are not on the same axis as the hours, minutes and sweep seconds

Not that a woman who wears 7071 would ever sweat... Well, not with the watch on... So finally, we ask ourselves again what sort of woman does Patek Philippe imagine wearing this watch? We think it is something like this: she never dresses head-to-toe in designer labels, unless  wearing an haute couture gown from Ellie Saab or Valentino. By the same token, she might also be the sort of person who insists on having her cheongsams created by the same tailor who made Maggie Cheung’s in Wong Kar-wai’s In The Mood For Love. So, not a Commes des Garcons customer clearly.

Of course, Patek Philippe cannot control who wears their watches but a timepiece like this one deserves someone who will love it, quite literally. It goes without saying that this is exactly the kind of watch you want to preserve for future generations... Or start your own tradition with... 

Note the Patek Philippe Seal crownside. Beneath this bridge are the self-setting return to zero hammers

SPECIFICATIONS

1. Patek Philippe Ladies First Chronograph watch, Ref. 7071G-011
2. Dimensions: 39mm x 35 mm
3. Thickness: 10.95mm
4. Case: 18k white gold
5. Crown: Fluted in 18k white gold
6. Functions: Hours, minutes, small seconds, 30-minute chronograph counter, sweep seconds hand
7. Case back: Sapphire crystal
8. Water resistance: 30 meters
9. Strap: Hand-stitched alligator in blue, with blue stitching,  prong buckle in 18k white gold
10. Movement: Patek Philippe Manufacture calibre CH 29-535 PS, mechanical with manual winding, Diameter: 29.60 mm) Thickness: 5.35 mm Number of jewels: 33 Number of components: 269 Frequency: 28,800 vibrations/hour
11. Power reserve: approx. 65 hours
12. Patek Philippe Seal

Patek Philippe

 

Guide: How to Buy Your Own Private Jet

Buying your own aircraft is the ultimate extravagance but having the freedom to fly whenever you want is hard to put a price tag on. Here are some key considerations before you take those first steps down the runway

By Francis Kan

A Boeing business jet in action. This is the smallest in Boeing's fleet of business aviation jets

It might seem like the one luxury that you could live without, but at a certain point in your career - when you're spending more time in airport lounges than your living room for instance - and a certain level of success, owning your own aircraft may not seem like such a far-fetched idea.

Experts advise starting with chartering a private jet, and if it’s available in your part of the world, entering into a fractional ownership arrangement that allows you the use of an aircraft for a certain number of hours a year.

"That way you can try out different aircraft and see what's involved before deciding if you want to buy your own jet," says Jose Eduardo Costas, VP for Marketing & Sales in Asia Pacific, for Embraer Executive Jets.

Industry players say it’s a buyers’ market right now, with plenty of inventory left following the financial crisis of 2009.

Do You Really Need to Own One

• At what point does ownership, which would set you back around $4-5 million for an entry-level jet, make economic sense? While there is no magical number, experts say that as a rule of thumb, if you spend over 300 hours a year in the air, that's when you might want to start shopping around for your own set of wings. Anything less and a charter or fractional ownership would probably make more sense.
• One of the key advantages of owning your own aircraft is that you can customise it to suit your needs and tastes. If work is priority in the air, you can set up a conference grouping on board. But if flying is the only time you can get any real sleep, then installing a bed with your favourite mattress is a no-brainer.
• You may not always get the same plane when you charter, and of course it may not be as readily available.

How to Buy One

• If you're set on owning a private jet, there are two main routes to making the purchase. If you've done your homework and know which make you want, you can approach the manufacturer directly.
• However, most jet newbies are likely to engage a professional consultant or broker to help them through what can be a lengthy and complex process.
• Qualified aircraft brokers claim to not only find and negotiate the best deal on an aircraft, they also save you time and money in the process of completing the transaction.  
• A word of advice from the experts: “Brokers are well educated in the process of buying and selling aircraft, which will save you time and money in the process,” says Greg Duckson, President of U.S.-based broker General Aviation Services.

Which Type to Get

• There are three basic types of jets available: Light, medium and heavy. 
• Light jets usually have a 1,000 nautical mile range and can seat up to six people. Medium jets have a 1,500-2,000 nautical mile range and can seat 8-10 passengers. Heavy jets usually have a 2,500-3,500 nautical mile range and can seat 12-16 passengers.
• Choose one based on how far you need to fly and how many people you usually travel with.  Obviously, if overseas travel is will be required, the aircraft will require the longer range aircraft. 
• It is also advisable to get a plane that seats more people than you intend to take with you, says Embraer’s Costas to allow for comfort during longer haul flights.The full range of Embraer jets, from smallest to largest. Depending on your needs, most manufacturers will have something in their stable.How to Get FinancingThere are many companies and banks that specialise in aircraft financing. Like most loans, the company or individual will have to qualify for a loan as well as provide some form of a guarantee.Lenders typically have a certain niche that they finance. Some will offer higher loan amounts, some will only finance newer aircraft, and in certain countries where the aircraft may be located, it could be harder to obtain financing.Basically, find a good broker and that person or company will be able to assist you in finding the right financing solution.How to Much to Expect to Pay

• The cost of the aircraft will vary depending, among other things, how large the plane is, how old it is, and its maintenance history.
• Prices have dropped significantly in the past four years as a result of the global economic slowdown -  private jets are the first things to go in bad times - and many aircraft can be had for $3 million to $10 million.
• If you don’t mind a second-hand model, older used jets can be purchased for under a million dollars, says Duckson.  

Other Costs to Look Out For

• This somewhat long list will give you an idea of the true cost of jet ownership.
• Annual insurance premium.
• Hangar Space
• Maintenance
• Salaries and benefits for crew
• Landing Fees, handling fees and even navigation fees
• Catering
• Fuel 

How to Manage the Investment

• Professional management companies handle all aspects of owning an aircraft for the owner. They will maintain the aircraft to the manufacturer’s requirements as well as handle hiring pilots.
• Some can even offer the aircraft for charter to help offset some of the maintenance costs while the owner is not flying it. 
• One downside to chartering your aircraft out is that it will put wear and tear on the aircraft and with every hour it flies it moves it closer to its next maintenance schedule. 

Customization Options

• Everything from colors and carpeting to lighting and cabinetry is open to customisation. Interior design aside, planes can also be fitted out with entertainment systems and Wi-Fi access.
• Manufacturers can offer you their in-house consultants to help customise your aircraft, but very often buyers bring their own designers into the process as well.

 

 

by www.luxury-insider.com

Further Reading

• Knowledge is power so arm yourself with following resources.

http://www.luxury-insider.comhttp://www.luxury-insider.comExecutive Jets - Geza Szurovy

The Legend of Gulfstream - Jeffrey L. Rodengen

Morgan Stanley fund to buy Moscow shopping center “Metropolis” from Capital Partners

Morgan Stanley fund is in talks to acquire the Moscow shopping center Metropolis from Capital Partners for an alleged US$ 32 million. If the purchase goes through, it will be the biggest commercial real estate deal this year in Russia.

With a total area of 20.000 sqm and a GLA of 80.000 sqm on 3 levels (260 shops), Metropolis is one of the biggest shopping centers in Moscow. The current brand mix of Metropolis Mall includes premium brands (DKNY, Tommy Hilfiger, Michael Kors, Juicy Couture, Gerard Darel, Guess etc) as well as mass market brands ( Zara, Mango, H&M etc). Adjacent to the Metropolis Mall are three office towers with a total area 120,000 square meters. Morgan Stanley and Capital Partners refused to comment on the deal.

Metropolis Mall, Moscow

 

 

 

 

 

 

www.cpp-luxury.com

The 16 Best Superyachts On Display At This Year's Monaco Yacht Show

Last week's annual Monaco Yacht Show featured some of the most luxurious ships on the water today. Since with yachts, luxury usually means size, it comes as no surprise that the most attractive offerings were also among the biggest.

The 103 superyachts on display averaged 153 feet. The 290-foot Nirvana, with six decks and a 3D cinema, was topped only by the 195-foot Athena, a sailing yacht on sale for nearly $100 million.

The three-masted 'Athena' has room for 12 guests and is on sale by Royal Huisman for $92,966,400.

Royal Huisman

'Diamonds Are Forever,' owned by a fan of 007, measures 200 feet.

© Monaco Yacht Show

'Vertigo' won the Monaco Yacht Show Design Award this year.

© Monaco Yacht Show

The second longest yacht at the show, 'Nirvana' has a 1,615-square-foot owner's suite.

© Monaco Yacht Show

The 170-foot 'Mondango' accommodates 10 guests.

© Monaco Yacht Show

With room for 12 guests in five cabins, the 195-foot 'Darlings Danama' has a top speed of 15 knots.

© Monaco Yacht Show

The 'Smeralda' can hit 29 knots and has a range of 4,500 nautical miles.

© Monaco Yacht Show

On sale for $51.7 million, the 'RoMa' has a contemporary interior and was built in 2010.

© Monaco Yacht Show

At 166 feet, the 'Better Place' is the largest carbon fiber sloop ever built.

© Monaco Yacht Show

The 'Hampshire II' has a helipad that can be used as a basketball or tennis court (with nets to keep errants balls on board).

© Monaco Yacht Show

'La Pellegrina' made its world premiere at the show. It measures 164 feet and has a composite and Kevlar hull.

© Monaco Yacht Show

Winner of the 2011 Monaco Yacht Show Design Award, the 'Satori' was on display this year.

Satori

The 'Garcon' can hit 25 knots, and has 2,530 square feet of deck space, excluding the helipad.

Moran Yacht & Ship

The 243-foot Mogambo was a finalist for "Best Power" in the 2012 International Design Awards, for superyachts.

© Monaco Yacht Show

Edmiston & Company is selling the 203-foot Candyscape II for $61.6 million.

Edmiston

The sailing yacht 'Silencio' was built in 2001 and measures 164 feet.

Perini Navi

Here's something more affordable.

International Yacht Collection

YACHT OF THE WEEK: The Penny Mae Is An $11 Million Bargain >

 

 

 

 

 

 

 

Read more: http://www.businessinsider.com/best-of-the-monaco-yacht-show-2012-2012-9?op=1#ixzz27aBITg8F

France angered over U.S. plans for 'chateau' label in EU

BRUSSELS — Drinking a Bordeaux wine from a "chateau" is as French as swigging Kentucky bourbon is American.

But now tempers are flaring across the vineyards of France. The United States wants to sell some of its wines in the European Union with — sacrilege — a "chateau" or "clos" label.

Cheating. Misappropriation. Distortion — the issue has the Bordelais turning claret with anger.

"What is at stake is the respect for tradition and quality," said Laurent Gapenne of Chateau de Laville and president of the Federation des Grand Vins de Bordeaux.

For American vintners, it's a question of selling more wine in their top export market, unshackled by historic language or restrictive terms in the world of 21st century globalization.

"People use words in different ways," said WineAmerica Chief Operating Officer Cary Greene, arguing there should be no ban on U.S. bottles carrying the word "chateau."

The French, on the other hand, argue that hundreds of years of craft are at stake. They're worried that the cachet a mention of "chateau" or "clos" — which shows the origin of the wine — carries would be diluted if other winemakers started to stick it on their bottles in Europe.

On Tuesday, EU experts from the different member states will look at whether that should be permitted, with a decision imminent.

"I cannot understand that they would yield on this," Gapenne said, setting high stakes for the latest skirmish in a transatlantic wine war that has seen the United States growing from upstart to an increasingly confident competitor on world markets.

U.S. founding father Thomas Jefferson was enamored with French wines, and the French held dominance over world wine traffic until well after World War II. Then came the 1976 "Judgment of Paris," when, to French astonishment, California won a major blind taste test over French wines. To this day, that event is considered the "tasting that changed the wine world."

That never sat well with the French, and since then wine relations have often had an edge to them.

So when the European Commission decided to act on a U.S. request to regain permission to export "chateau" and "clos"-labeled wines to Europe — including France — the anger was palpable.

"The European Commission is bartering our heritage and our economic clout at the expense of globalization," Gapenne said.

For the U.S., the benefits of tapping the European market are clear. Even though its share is declining, the 27-nation European Union still accounts for 57% of global wine consumption.

Last year, 34% of U.S. wine exports by value went to the EU, accounting for $478 million. And the industry is counting on removing trade barriers worldwide to push exports even more.

In comparison, the EU said its exports to the United States stood at 2.2 billion euros ($2.86 billion) last year, boosted by many of the top-edge chateau and clos vintages that have come to define the continent's best wines.

Although the Americans feel they are unfairly locked out of a market, the French feel centuries of careful cultivation is being thrown up for grabs.

"There would not be a level playing field," Gapenne said.

While French chateau bottles find their origins in wines made at the estate from grapes belonging to the chateau, the U.S. definition for export would use less stringent conditions on provenance. It could include grapes from "vines that have been traditionally used by this wine producer or producer group."

"We think the definition we presented is fair and reasonable," Greene said. "The definitions we put forward, we believe accurately reflect what we think the marketplace can stand and what consumers can understand."

The French argue differently.

"The Americans could create 'chateau' wines from grapes from all over and prices would of course be much lower," Gapenne said. "The consumer would be buying a 'chateau' wine with the idea of quality that represents our definition," while in fact it doesn't, he argued.

Several dozen premium wineries in the United States have already used the "chateau" and "clos" designation. They were allowed to export wines bearing such labels for three years in the wake of a 2006 transatlantic wine agreement, but that loophole closed in 2009.

Names and denominations of origins have a long tradition to create trade friction, affecting everything from Greek feta cheese to Lebanese hummus. In the 2006 agreement, for example, the EU said it was able to contain the use of such terms as Champagne and Port in the United States.

Any dilution of the typical French winery terms would undermine their standing in the world, Gapenne said.

Once the United States breaks the French hold on the term in Europe, it would set a bad precedent.

"It would become extremely difficult to stop other producing countries" to use the term, Gapenne's Federation des Grand Vins de Bordeaux said in a statement.

"In the midterm, the notion would be totally discredited and empty of any meaning," the group said.

 

The European Commission is considering a U.S. request to regain permission to export “chateau” and “clos”-labeled wines to Europe — including France. Above, a wine seller presents a 2005 bottle of Bordeaux wine Chateau Margaux at his shop in Paris. (Remy de la Mauviniere, Associated Press / September 20, 2012)

 

 

 

 

 

 

http://www.latimes.com