I had a short trip to Stockholm earlier this week. Daylight lasts only six hours, and during the day the sky isn’t very bright — it shifts between pitch black and dark grey. I love coming here for the beautiful people and beautiful buildings. There’s a sense of nobility, and when a doorman opens the door to a store or restaurant while it’s cold and wet outside, it feels like something rarely seen in Central Europe.

Ladies in furs, gentlemen in elegant leather Oxford boots, and rarely sneakers. Louis Poulsen lamps in cafés and croissant chairs in hotel lobbies. I found myself thinking that when the environment is so harsh, people have to surround themselves with beauty — and that this might be why some of the most design-forward brands were born in Scandinavia. In a world where everyone wants to be “hot,” there’s still something powerful about choosing elegance.

Caught my eye

Rick Owen’s $40 toothpase. “I believe in he idea that you don’t need to have many things, but that essential things should be made special.” said Rick Owens.

Trends — what’s bubbling underneath the headlines

• Karl Lagerfeld enters the branded-residences race — in Lisbon

  Karl Lagerfeld has unveiled a luxury residential project in Lisbon: an 11-storey building with just 10 apartments, designed as an ultra-exclusive extension of the brand. Construction is set to begin soon, adding real estate to the label’s growing lifestyle footprint.

• Birkin still wins resale — but The Row and Miu Miu are closing in

  According to Rebag’s 2025 Clair Report, Hermès continues to dominate resale, with average value retention rising to ~138% and Birkin prices up ~92% over the past decade, far outpacing retail increases. At the same time, The Row entered resale “unicorn” status for the first time, with handbags retaining ~97% of value, while Miu Miu posted a breakout year, reaching ~104% retention. Cultural relevance, design consistency and controlled supply are turning newer brands into investment-grade assets — alongside luxury’s usual suspects

Business moves, big numbers & “wait, what?”

• How Asia turned APM Monaco into a $2bn brand. TPG — the US private-equity firm — is exploring a sale or IPO of APM Monaco, with the jewellery brand now said to be worth around $2bn. TPG and partners bought a 30% stake in 2019 (valuation undisclosed) and later filed for a Hong Kong IPO in 2021, which never happened While in Asia, I kept spotting APM Monaco stores positioned next to the likes of Cartier and Graff, designed like high-end jewellery maisons — velvet seating and bright lighting. Today, well over half of the APM Monaco’s 500 stores are in Asia, making it an interesting marketing and retail playbook: a European-origin brand, fuelled by Asian growth.

• Hermès heirs take a different investment path

  The Hermès family office, Krefeld, has launched a new investment vehicle, Breithorn Holding — and its early portfolio stands out. Unlike peers such as LVMH via L Catterton or the Pinault family through Artemis, both known for backing consumer and tech brands, Breithorn’s first bets sit elsewhere: Albingia, an insurance company, and Anjac Health & Beauty, a European manufacturing for pharmaceutical, dermo-cosmetic and beauty brands.

  Krefeld was set up in 2022, pooling capital from over 100 Hermès heirs, who collectively control around 67% of Hermès and have built substantial liquidity through dividends. Hermès heirs are leaning toward resilient, cash-generative businesses as a way to diversify beyond pure consumer exposure.

• Heron Preston buys back his name — and resets the model

  Heron Preston is relaunching his brand after repurchasing his name and trademarks from New Guards Group. The reboot begins with small-batch drops, starting with Block 1 — just seven core pieces, released outside the traditional seasonal calendar.

  More brands are finding their way back to founder or original ownership. Whether a leaner, creator-controlled model can work long term is yet to be seen

Wish I were there - pop-ups,  collabs, etc.

Pencil in, book the ticket, or just follow on social media — choose your option and let’s discuss afterwards!

• Until 18.10.26 | Paris - Fashion exhibition at Palais Galleria

• Ongoing | Paris - The Ritz Teddy B(e)ar Pop-Up

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