Foster + Partners has won the bid to design the Queen Elizabeth II memorial.
Foster + Partners has been selected to design the national memorial for Queen Elizabeth II, beating out finalists including Heatherwick Studio and WilkinsonEyre. The winning team includes artist Yinka Shonibare and landscape architect Michel Desvigne, and will create a masterplan for a site near Buckingham Palace in St. James’s Park. The final design is expected to be unveiled in 2026, marking what would have been the late Queen’s 100th year.
As demand plummets in China’s luxury market, LVMH faces a historic downturn.
LVMH is facing its worst downturn in decades as demand in China’s luxury market collapses and U.S. trade tensions mount. The company has lost over €220 billion in market value since 2023, with underperformance at key brands like Dior and Moët Hennessy compounding investor concerns. As questions grow about succession and strategic focus, Bernard Arnault’s tight grip on the business is being tested by the most severe market and internal pressures of his tenure.
The City of Melbourne has voted for Tadao Ando’s MPavilion to remain until 2030.
The City of Melbourne has voted to keep Tadao Ando’s MPavilion in Queen Victoria Gardens through 2030, following strong public support and record attendance. Originally intended as a temporary structure, the pavilion will continue to host free cultural programming under the stewardship of the Naomi Milgrom Foundation.
Italy has reduced its VAT rate for art sales from 22 percent to five percent.
Italy has lowered its VAT on art sales from 22 percent to 5 percent, now the lowest rate in the European Union. The change follows sustained pressure from galleries, dealers, and artists, who warned the high tax was stifling the local market and driving collectors elsewhere. The reduced rate is expected to boost Italy’s art economy and align it more closely with other EU cultural hubs.
Chanel continues celebrating its U.K. centenary with the launch of an arts and culture magazine.
To mark 100 years in the U.K., Chanel has launched Arts & Culture Magazine, a new print publication highlighting the brand’s recent collaborations with artists and institutions. Distributed globally and produced by Chanel’s Culture Fund, the inaugural issue blends archival objects with contemporary visuals and reinforces the house’s ongoing support for bookstores and cultural programming. The magazine’s London debut coincides with a temporary takeover of Bayswater’s Foreign Exchange News through June 28.
Today’s attractive distractions:
A new docuseries gives the architects behind Venice Beach their closeup.
Get ready for the girls to be wildin’ over the Balenciaga x Puma Speedcat ballerinas.
Can you believe it’s been 50 years since the filming of Jaws?
Apparently men are now opting for open toes on the red carpet.
