JOAN MULLER: How the rich will shift to ‘wealth whispering’
It seems that selfless endeavours such as ‘giving back’ and ‘impact investing’ could replace brash spending on the latest bling
With the economy moving to level 2 from today, luxury brands will be pinning their hopes on the super-rich to prop up sales, after a horrific few months that resulted in retail chains shuttering stores.
But it’s an expectation that looks increasingly like wishful thinking. The pandemic has not only plunged many countries into a deep recession, it’s also dealt a blow to the net worth of the world’s wealthiest people...