Rich foreigners visiting the U.K. have the chance to buy luxury goods at a discount given the pound’s slide against the dollar; making Swiss watches cheaper than on the continent.
The Cle de Cartier Flying Tourbillon, one of the brand’s most expensive timepieces, costs $154,000 in the U.K., $15,000 cheaper than it does in France. EU citizens may need to act fast as luxury-goods makers usually adjust for currency shifts quickly to prevent such gaps.
The multi-billionaire owner of luxury jewellery company Cartier has revealed his greatest fear – robots replacing workers and the poor rising up to bring down the rich. Speaking at the Financial Times Business of Luxury Summit in Monaco, the fashion tycoon told his fellow elite that he can’t sleep at the thought of the social upheaval he thinks is imminent.