Sotheby’s broke its own auction records for surrealist and modern lots at Art Basel Paris.
Sotheby’s set new benchmarks for surrealist and modern art auctions during Art Basel Paris week, bringing in a combined $104 million across two sales. Modigliani’s Elvire en buste led the night, selling for $31.3 million and establishing the highest price for one of his paintings in France, while another Modigliani, Raymond, doubled its estimate to $12.4 million. René Magritte’s La Magie Noire also drew attention, achieving $12.4 million and breaking a record for the series. Overall, nearly 90 percent of lots sold, with international collectors, particularly from the U.S., driving strong competition.
Two arrests have been made in connection with last week’s Louvre heist.
French authorities have arrested two men in connection with last week’s theft of crown jewels from the Louvre, one apprehended while attempting to leave the country. The heist, executed in under eight minutes, targeted eight high-value pieces, including diadems, necklaces, and earrings linked to 19th-century queens and empresses. Investigators identified one suspect through DNA evidence and continue to process samples from the scene. While the museum has reopened, officials have yet to confirm whether all stolen jewels have been recovered.
Lululemon is deepening its reach in the realm of pro sports as the NFL’s apparel partner.
Lululemon is expanding its presence in professional sports through a new partnership with the NFL, designing apparel and accessories for all 32 teams. The collection draws from Lululemon’s core lines, including Define, Scuba, Align, and Steady State, and caters to both men and women. The launch is accompanied by a marketing campaign featuring former NFL players such as Joe Montana, Nick Foles, and Emmanuel Acho, emphasizing family and fan loyalty. Products will be available through NFLShop.com, Fanatics, team stores, and international NFL Shop sites.
“We’re not the financial police:” luxury labels are clapping back about supply chain scandals.
Luxury brands are pushing back against scrutiny over labor violations in their supply chains, arguing that government and regulators, not companies, should police subcontractors far down the production line. Tod’s chairman Diego Della Valle emphasized that brands can only guarantee standards at direct suppliers, calling broader oversight “not practical” and urging lawmakers to rethink regulations. Italian trade groups are increasingly vocal, framing media and prosecutorial attention as damaging to “Made in Italy,” even as labor advocates warn that the industry risks shirking responsibility for systemic exploitation. Amid this debate, the government is proposing voluntary certification systems and contract guarantees, though critics argue these measures let brands off the hook.
Bernard Arnault has embarked on a $1.6 billion buying spree of LVMH shares.
Bernard Arnault has spent roughly $1.6 billion acquiring LVMH shares over eight months, increasing his family’s stake in the luxury conglomerate amid a market downturn. The purchases, executed through Financière Agache and Christian Dior SE, bring the Arnaults closer to controlling half of the company, reinforcing their longstanding focus on LVMH rather than diversifying their wealth. Arnault paid an average of €566 per share, timing acquisitions during weaker earnings and a sector-wide retreat, while the stock has since rebounded. Analysts see the move as a signal of his intent to consolidate influence over the firm despite already holding nearly two-thirds of voting rights.
Today’s attractive distractions:
A 20th-century Cartier brooch informs the facade of its Design District flagship.
Another week passes and another humanoid robot drops.
Don’t worry: Jacob Elordi’s face card still serves in Frankenstein.
“Girl maintenance” speaks to the burden of beauty standard upkeep.
