How should one invest in luxury? Personalised financial management service HSBC Jade, together with several lifestyle partners, showcases the strategies at Legacy of Luxury event
Like many things today, the world of luxury has changed. The consumers' standards and tastes have shifted and evolved to become more refined and sophisticated.
"Luxury has always been about status but in recent times there has been an epic shift towards more individualised and meaningful forms of luxury consumption, with art being the best performing luxury asset," said Fiorenza de Monti, gallery executive of Partners & Mucciaccia. "Investment in art grew by 21 per cent in the past 12 months, according to an index based on auction data provided by Art Market research."
HSBC Jade, the bank's individualised weatlth management and luxury lifestyle service, understands the changing mindset and taste levels of its well-heeled and well-travelled customers. That is why for its market outlook event for the second half of 2018, it will be curating a special experience, where HSBC Jade clients and guests will get to mingle with lifestyle experts such as art gallery Partners & Mucciaccia; French silverware brand Christofle; and interior design firm Elliot James Interiors and engage in interesting and thought-provoking conversations.
Titled "Legacy of Luxury", the event is designed to be interactive and guests can expect a sensorial onslaught of sight, sound and taste. Besides being pampered by such out-of-the-box experiences and a sumptuous four-course meal, guests can also learn more about the latest market outlook from HSBC’s chief global strategist, Joe Little, who will be sharing interesting investment approaches.
We speak to the key partners who will be collaborating with HSBC for the Legacy of Luxury event, held on 27 June. They tell us the special touches they have put in to make the experience more memorable and their personal thoughts on today's changing luxury landscape.
Ng Yilian, founder of Yi Lian Ng Floral Atelier
What can be expected from Yi Lian Ng Floral Atelier at this event?
Ng Yilian (YL) HSBC Jade has given me complete creative rein in the types of flowers to use or the styles I want to take, which is really exciting for me creatively. So, you can expect some unexpected elements.
In your own opinion, how has the concept of luxury changed especially in recent times?
YL It has morphed from a typically fashion (whether the term includes clothing, accessories, watches or jewellery)-dominant environment to something a lot more lifestyle-centric—think wellness and fitness. Well-heeled consumers, who already have all the best clothes, bags and timepieces, are now a lot more focussed on their mental and physical well-being.