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Family Business

December 4, 2019

Remy Cointreau sales are hit by Hong Kong protests; Elisabetta Fabri, second generation president of Starhotels, is knighted, and families are intrigued by a new bank vault for billionaires.

Remy Cointreau sales hit by Hong Kong protests

The French family-owned spirits group Remy Cointreau says it lost sales due to the impact of political protests on tourism in Hong Kong.

Sales stood at €523.9 million ($581 million), a drop of 3.6% in growth in the half-year to October, which were “below our expectations,” the group reported. The “very difficult context in Hong Kong since August” had “significant impact on our Asian duty-free business.”

December 3, 2019

The year 2020 will mark the 10th anniversary of the landmark UK Supreme Court case of Radmacher v Granatino. This means that 10 years have passed during which wealthy individuals have had the opportunity to contract out of the notoriously generous divorce jurisdiction of the English and Welsh courts. Whilst nuptial agreements existed prior to Radmacher, there was no certainty they would be upheld if they were challenged in court.

The year 2020 will mark the 10th anniversary of the landmark UK Supreme Court case of Radmacher v Granatino. This means that 10 years have passed during which wealthy individuals have had the opportunity to contract out of the notoriously generous divorce jurisdiction of the English and Welsh courts. Whilst nuptial agreements existed prior to Radmacher, there was no certainty they would be upheld if they were challenged in court.

November 29, 2019

Li Ka-shing rebuffs criticism and gives HK$1 billion to Hong Kong businesses, Gebruder Weiss and Henkel get trucking on gas, Impact Investing Institute launches to nurture $502 billion impact market.

Li Ka-shing rebuffs criticism and gives HK$1 billion to Hong Kong businesses

Hong Kong’s wealthiest tycoon says he is getting used to “the unfounded verbal and text punches” triggered by protests in the city as his charity offers relief funding to small businesses.

November 27, 2019

The Lego Group is building its connections with adult consumers by buying an online fan platform from the family office of a South Korean tech entrepreneur.

The Lego Group is building its connections with adult consumers by buying an online fan platform from the family office of a South Korean tech entrepreneur.

November 26, 2019

More than half of family offices have a succession plan in place, up a remarkable 11 percentage points in a year, and most (28%) of next gens will take control of the family wealth in the next 11 plus years, at the average age of 45, says The Global Family Office Report 2019. However, the biggest challenge facing the majority (37%) of families is their discomfort in discussing the sensitive topic of succession planning.

More than half of family offices have a succession plan in place, up a remarkable 11 percentage points in a year, and most (28%) of next gens will take control of the family wealth in the next 11 plus years, at the average age of 45, says The Global Family Office Report 2019. However, the biggest challenge facing the majority (37%) of families is their discomfort in discussing the sensitive topic of succession planning.

November 25, 2019

The French family behind the world’s largest luxury group LVMH has made its biggest ever acquisition by adding the US jewellery brand Tiffany & Co to its portfolio for an up-scaled offer of $16 billion.

The French family behind the world’s largest luxury group LVMH has made its biggest ever acquisition by adding the US jewellery brand Tiffany & Co to its portfolio for an up-scaled offer of $16 billion.

The $51.5 billion (€46.8 billion) LVMH empire will acquire the $4.4 billion Tiffany for $135 per share in cash, in a transaction with an equity value of $16.2 billion (€14.7 billion). The luxury goods giant increased its offer from $120 per share last month.

November 22, 2019

Melia, Inditex and Damm families lead Spain’s digital revolution, family businesses H&M Group and IKEA unite to study recycled textiles, and Hays family creates 1,500 new careers in the UK’s travel industry.

Melia, Inditex and Damm families lead Spain’s digital revolution

Spanish family businesses Melia Hotels International, Inditex and Damm have been named among the top 10 companies leading the digital transformation of the Spanish economy.

Research by the Coordenadas Institute of Governance and Applied Economics hailed the families and public peers, such as Telefonica and Seat, for adapting their business models through digitalisation. Their motivation was to enhance their competitiveness and position themselves as international benchmarks.

November 21, 2019

Succession by virtue of birth and family dynamics is a phenomenon that occurs quite frequently. We see it on the news or because it is happening in the organisation we work for, or simply because it’s happening in our family owned business. The successor is handed over the reins of the business, but can he or she run the business? What are the factors that determine the success of the succession? Can this be left to chance or “It runs in the blood” factor?

Succession by virtue of birth and family dynamics is a phenomenon that occurs quite frequently. We see it on the news or because it is happening in the organisation we work for, or simply because it’s happening in our family owned business. The successor is handed over the reins of the business, but can he or she run the business? What are the factors that determine the success of the succession? Can this be left to chance or “It runs in the blood” factor?

It’s time for millennials to take up the mantle

November 19, 2019

A Hoare family-backed sustainable impact funder says its social welfare startups are beating performance expectations in its benchmark study.

A Hoare family-backed sustainable impact funder says its social welfare startups are beating performance expectations in its benchmark study.

London-based seed funding initiative The Fore found 74% of the nascent charities it supported around the United Kingdom succeeded in meeting their targets over the past two years. More than 70% of grantees surpassed their expectations for expanding their charitable activities after one year of funding. More than 50% exceeded their forecasts for income generation after a year of funding.

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