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[LUXURY BRANDS] #EQUITY: LUXURY GOODS ARE NOW SUPER CHEAP IN THE UK FOLLOWING BREXIT. READ WHY:

​​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.

According to sources, Johann Rupert told the conference to bear in mind that when the poor rise up, the middle classes won’t want to buy luxury goods for fear of exposing their wealth. He said he had been reading about changes in labour technology, as well as recent Oxfam figures suggesting the top 1 per cent of the global population now owns more wealth than the other 99 per cent.

“How is society going to cope with structural unemployment and the envy, hatred and the social warfare?” he said. “We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.”

-adobserver: Jimmy Adesanya

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