Fashion News Alert: Nicole Richie’s Pop-Up Shop, J. Crew’s Instagram Rant Causes Dismissals, and Latin America’s Super Rich Attract Global Luxury Brands

Image courtesy of hervelegerobssessed.com

Image courtesy of hervelegerobssessed.com

There is another House of Harlow 1960 pop-up store in the works for reality television star, Nicole Ritchie. The jewelry spin-off line of House of Harlow will open a pop up at The Grove in Los Angeles on July 3.

The Los Angeles location will carry the House of Harlow 1960’s jewelry, accessories, interior décor, and an exclusive apparel collection consisting of dresses, pants, skirts, tops and a kimono jacket. House of Harlow 1960 has had two pop-up shops at Fred Segal on Melrose and another in Dubai.

House of Harlow 1960 is carried in Bergdorf Goodman, Neiman Marcus, Selfridges, and online on its website.

Alejandro Rhett image courtesy of facebook.com

Alejandro Rhett image courtesy of facebook.com

Instagram rants

And the drama continues at J. Crew. Alejandro Rhett, J. Crew’s vice president of men’s merchandising, appears to have posted sarcastic and insidious remarks on recently released staffers on Instagram. Hastags “#hungergames” and “#maytheoddsbeeverinyourfavor,” which refers to the ”death match” plot in the blockbuster movie, “The Hunger Games” were placed under photos of said employees.

“We do not condone this behavior in any way. Individuals’ actions do not represent the culture of our company—this is not who we are. The tough decisions we made last week were not something we took lightly. We do our best to make decisions with care & compassion for all of our associates,” said a J. Crew representative as reported in fashionmag.com. J. Crew recently fired 175 employees as a part of the company’s restructuring plan.

Image courtesy of businessinsider.com

Image courtesy of businessinsider.com

Money makes the world go around

Luxury brands are seeking to attract more business and customers in Latin American countries due to the extraordinary rise in billionaires in Latin America in recent years. Latin America is home to 15,000 ultra high net worth individuals with increases of 38 percent in 2014, as reported in fashionmag.com. This is the fastest growing region of the ultra rich on the planet.

“The amount of wealthy people globally is booming and that is true in Latin America: it’s growing at a very good pace,” explains Mykolas Rambus, the chief executive of Singapore-based Wealth-X. And according to market research firm Euromonitor, the Latin American luxury market will total $26.5 billion in 2019, up 88.8 percent from 2014—the strongest growth in the world..

Under the surface of Latin America’s billionaire boom is a political backlash. Much of the accumulated wealth of the new growing class of billionaires is due to wealth inheritance. Globally, Latin American countries have some the lowest taxes on inherited wealth. Advocacy groups like Oxfam are calling for “fiscal justice” to rectify income inequality in many Latin American countries.

“The main characteristic of inequality in Latin America is not that there are a lot of poor people, but that there are a few people who have a lot,” said Juan Pablo Jimenez, an economist at the UN’s Economic Commission for Latin America. “Taxes on wealth are very low in Latin America, and inheritance taxes are almost nonexistent.”

—William S. Gooch

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