According to the latest 2021 Luxury Resale Report from The RealReal, the world’s largest online marketplace for pre-owned luxury goods, Gucci is the most bought and sold brand. Check the news Gucci is the most purchased and sold luxury brand in 2021 and more on Switzerland based Lifestyle Magazine- Kenleaks Magazine.
Based on the behaviors of The RealReal’s 23+ million members and the data behind its 19+ million items sold, the report charts the current state of luxury resale, including the pandemic’s long-term impact on how people buy and sell.
Purchases increased by 62 percent, while consignments increased by 61 percent year on year, according to the company. Gucci’s top buyers and consignors are members of Generation X, the original thrifting generation. The top five were Louis Vuitton, Chanel, Prada, and Dior.
Telfar is the year’s most popular emerging brand, with demand for its bags increasing by 590 percent. Surprisingly, streetwear lost its luster, with mainstays like Yeezy and Supreme falling out of favor as shoppers returned to streetwear’s preppy roots and blended the outdoors into their street style, driving major growth for brands like Casablanca, which increased 358 percent, and Salomon, which increased 188 percent.
According to a press release from The RealReal, more people bought and sold into the circular economy last year than ever before, with 29 percent of buyers making their first pre-owned luxury purchase in the last year. In the first quarter of this year, 45 percent of The RealReal’s new consignors had never consigned before.
Shoppers are becoming more conscious consumers, with 40% of The RealReal’s shoppers turning to luxury resale as a replacement for fast fashion and 43% citing sustainability as a key driver in their decision to embrace luxury resale.
Check the news Gucci is the most purchased and sold luxury brand in 2021 and more on Switzerland based Lifestyle Magazine- Kenleaks Magazine.
A senior Swiss embassy official in Tehran crashed to her death after falling out of her apartment window, Swiss and Iranian media reported on Tuesday. Check the news Swiss Diplomat in Iran dies from high – rise fall on Switzerland based Luxury Lifestyle Magazine- Kenleaks Magazine.
“We are saddened by this tragic death, we express our condolences to the family of this person,” the newspaper Tan quotes a statement from the Swiss Foreign Ministry. The ministry noted that they would not publish additional data on the incident.
Iranian media, for their part, claim that this is the first secretary of the embassy. Investigators believe she fell out of the window of her apartment in a high-rise building in northern Tehran on Tuesday morning and crashed to her death. The reason why this happened has not yet been fixed, noted in the messages.
Check the news Swiss Diplomat in Iran dies from high – rise fall on Switzerland based Luxury Lifestyle Magazine- Kenleaks Magazine.
The Swiss canton of Zug remains the canton with the best tax rate for families. This conclusion was made by the journalists of the Le Matin Dimanche edition, who conducted a comparative analysis of the country’s cantons. Check the news Zug remains the canton with the best tax rate for families on Switzerland based Luxury Lifestyle Magazine- Kenleaks Magazine.
They found that Zug offers the best tax regime for families with different income levels of all 26 cantons in Switzerland. The canton of Zug is home to many large international companies. The cantonal government has lowered taxes during the coronavirus pandemic, making it even more attractive. According to a study by Le Matin Dimanche, a married couple with two children on an income of CHF 60,000 will pay zero income tax in both Zug and Geneva. Moreover, in the canton of Bern, this family would pay 1562 Swiss francs.
However, a couple with a higher income of CHF 125,000, but without children, would have paid CHF 5,451 in taxes in Zug. However, in Geneva that amount would be three times more, and in Neuchâtel – four times more. The report also notes that the authorities in several French-speaking cantons are levying more taxes on high-paid people. In particular, as noted by TheLocal, Geneva, Lausanne and Neuchâtel have quite high tax rates today.
Check the news Zug remains the canton with the best tax rate for families on Switzerland based Luxury Lifestyle Magazine- Kenleaks Magazine.
Tesla founder and CEO Elon Musk tweeted that the company is starting to accept bitcoin as payment for its electric vehicles. Check the news Tesla’s electric car can now be bought for bitcoins and more on Switzerland based Luxury Lifestyle Magazine- Kenleaks Magazine.
“Tesla only uses internal open source software and directly manages Bitcoin nodes. The bitcoin paid by Tesla will be saved as bitcoin, not converted into flat currency ”He wrote.
Now the innovation is valid only in the United States. In the rest of the world, it is planned to be implemented by the end of 2021.
Recall that at the end of January, Elon Musk showed an updated version of the Tesla Plaid Model S with a gaming display.
Raiffeisen Bank International AG (RBI) has one Agreement to acquire 100 percent of the shares in Equa bank (Equa bank as and Equa Sales and Distribution sro) from AnaCap Financial Partners (AnaCap) through its Czech subsidiary Raiffeisenbank as. AnaCap is a private equity firm specializing in financial services Investor. The transaction is subject to a successful Graduation and regulatory approvals. Check the news Raiffeisen Bank International AG RBI signs contract to acquire the Czech Equa bank on Switzerland based Luxury Lifestyle Magazine- Kenleaks Magazine.
The acquisition of Equa bank is expected to increase the CET1 ratio of RBI decrease approximately 30 basis points (based on a pro forma CET1 Consolidation at the end of 2020). The final impact depends on the closing balance at the time of closing.
Equa bank focuses on and supports the consumer credit business almost 480,000 customers. The intended acquisition is part of the RBI strategy, to expand their presence in selected markets. The business models of Equa bank and Raiffeisenbank complement each other very well, which is why the acquisition im The end result is strategic synergies and an improved digital offering would lead. Equa bank’s total assets were over EUR at the end of 2020 2.8 billion, while Raiffeisenbank as has total assets of EUR 15.7 Billions.
The conclusion is expected around the middle of this year. If the The completion of the transaction is planned, Equa bank with Raiffeisenbank as to merge and thereby leverage the identified synergies.
The COVID-19 pandemic has demonstrated that no institution or individual alone can address the economic, environmental, social and technological challenges of our complex, interdependent world. The pandemic itself will not transform the world, but it has accelerated systemic changes that were apparent before its inception. Check the news World Economic Forum: Davos 2021 on Switzerland based Luxury Lifestyle Magazine- Kenleaks Magazine.
The fault lines that emerged in 2020 now appear as critical crossroads in 2021. The time to rebuild trust and to make crucial choices is fast approaching as the need to reset priorities and the urgency to reform systems grow stronger around the world.
The Davos Agenda is a pioneering mobilization of global leaders to shape the principles, policies and partnerships needed in this challenging new context. It is essential for leaders from all walks of life to work together virtually for a more inclusive, cohesive and sustainable future as soon as possible in 2021. To this end, the World Economic Forum has served for more than 50 years as a trusted platform where leaders from business, government, international organizations, civil society and academia convene to address critical issues at the start of each year.
An entire week of global programming will be dedicated to helping leaders choose innovative and bold solutions to stem the pandemic and drive a robust recovery over the next year.
The Davos Agenda will also mark the launch of the World Economic Forum’s Great Reset Initiative and begin the preparation of the Special Annual Meeting in the spring. Each day will focus on one of the five domains of the Great Reset Initiative:
Monday 25 January: Special Addresses, Leadership Panels and Impact Sessions on Designing cohesive, sustainable and resilient economic systems.
Tuesday 26 January: Special Addresses, Leadership Panels and Impact Sessions on Driving responsible industry transformation and growth.
Wednesday 27 January: Special Addresses, Leadership Panels and Impact Sessions on Enhancing stewardship of our global commons.
Thursday 28 January: Special Addresses, Leadership Panels and Impact Sessions on Harnessing the technologies of the Fourth Industrial Revolution.
Friday 29 January: Special Addresses, Leadership Panels and Impact Sessions on Advancing global and regional cooperation.
The Davos Agenda aims to inform the global public and the Forum’s 25,000,000+ social media followers on the key issues shaping the year ahead. It will also engage over 430 cities in 150 countries that host Global Shapers, a network of young people driving dialogue, action and change. More than 20,000 members of TopLink, our digital interaction platform, and over 400,000 subscribers to Strategic Intelligence, our world-leading knowledge app, will also be active online throughout the week’s programme.
Live sessions will begin each day as of 08.00 until 19.00 Central European Time (CET).
The Davos Agenda will feature:
Heads of state and of government from the G20 and international organizations giving special addresses on the state of the world, as well as engaging in dialogue with business leaders from around the world.
Industry leaders and public figures discussing in leadership panels how to advance and accelerate public-private collaboration on critical issues such as COVID-19 vaccination, job creation and climate change, among others.
The Forum’s core communities, including its International business council, sharing their insight and recommendations from global, regional and industry initiatives in impact sessions.
From January 1, 2021, IKEA Switzerland will pay all its employees a minimum salary of CHF 4,000 per month (based on 13 monthly salaries). This corresponds to an increase of CHF 100.-. This development will benefit around 200 people, or 6% of the workforce, mainly in the food, customer service and logistics sectors. On a company-wide scale, payroll increases on average by 0.5%. Check this news and more on Kenleaks Magazine.
IKEA Switzerland CEO Jessica Anderen is delighted: “It is very important to me that we pay fair and competitive wages. This is of course not the only attractiveness factor an employer has, but it is an important element. “
In addition to the basic salary, IKEA employees are also entitled to a bonus. For the annual financial year which ended last August, it corresponds to approximately one month’s salary. In total, it was paid to more than 80% of the staff. Only the teams from the Vernier (GE) and Grancia (TI) stores were unable to benefit from it due to the closures ordered by the authorities and the reduction in border traffic.
“We have observed that our employees have done an incredible job this year,” continues Jessica Anderen. “Like everyone else, they have had to adapt to the new situation and have shown phenomenal flexibility. New services have been designed and implemented – despite a constantly high workload. on the one hand, interest in interior design has increased due to the Covid, on the other hand, it has often been necessary to replace the absences of sick or quarantined staff. to estimate the psychological impact of this pandemic. The fact that we have succeeded together fills me with pride. “
About IKEA Switzerland
The first IKEA store to open outside of Scandinavia was in Spreitenbach in 1973. Currently, IKEA Switzerland operates nine stores at different locations. Jessica Anderen has been CEO of the company since October 2019. IKEA Switzerland employs around 2,800 people and generates annual sales of around CHF 1.1 billion.
For more than 20 years, Swiss R&D at X-Technology has been the innovation leader in the sporting goods industry. As the owner of the brands X-Bionic, X-Socks and Apani, the Swiss company from Wollerau has filed a total of 808 international patents. The “Best In Class” award from the Swiss Quality Assurance Institute confirms the continuous innovation with which the company is transforming the world of sport. Check this and more on Kenleaks Magazine.
The Independent Swiss Institute for Quality Assurance (SIQT) conducted a detailed study from 2017 to 2019 to identify the most innovative companies in Switzerland. To be able to benefit from the SIQT study, the company must have obtained at least one international patent between 2017 and 2019.
Many important market players and well-known companies such as Odlo, On Running, Mammut and Salewa were included in the assessment. Swiss X-Technology research and development stood out from its competitors and was named “Best In Class” and “Top Innovator” in the Swiss sporting goods industry. None of the other Swiss sports brands could compete with X-Technology Swiss R&D.
“The” Top Innovator “and” Best in Class “awards show once again that X-Bionic, X-Socks and Apani are the most innovative sports brands in Switzerland”, comments Aitor Henao, Head of Marketing and communication. “The new X-Bionic 4.0 collection that we have developed over the past three years proves that the Swiss sporting goods industry is in good hands thanks to our innovative strength.”
In addition to X-Technology Swiss R&D, the “Best In Class” award was won by companies such as Patek Philippe SA, Rolex SA and Breitling SA.
In 2019, the banks’ consolidated profit was up 1.1% compared to 2018, to CHF 66.1 billion. Gross profit from banking activities increased by CHF 1.0 billion, or 4.5%, to CHF 23.2 billion. Assets under management increased by 13.8% to CHF 7,893.4 billion. Banks are an important pillar of the Switzerland economy and, in the current crisis period, they have been able to demonstrate their efficiency. “In recent months, in the context of the COVID-19 pandemic, we have seen how important the supply of loans by banks is for our economic place”, recalls August Benz, Vice-CEO of the Swiss Association bankers (ASB) and Head of Private Banking & Asset Management. the ASB Banking Barometer provides a synthetic overview of key figures and main developments in the Swiss banking center. Check this news and more on Kenleaks Magazine.
Increasingly efficient banks
At the end of 2019, there were 246 banks in Switzerland, two less than the previous year. Gross profit from banking activity increased by CHF 1.0 billion over the year to CHF 23.2 billion. Total balance sheets rose 2.9% to CHF 3,317.6 billion. Credit operations remained a driving force for the Swiss economy in 2019. Growth in the domestic mortgage loan portfolio slowed slightly to 3.2%, from 3.6% in 2018. Assets under management increased by 13.8% to CHF 7,893.4 billion, thanks in particular to the favorable development of the equity markets. In the area of cross-border wealth management for private clients, Switzerland is the world leader with a market share of around 25%.
Nearly 90,000 employees in banking establishments
At the end of 2019, banks in Switzerland employed 89,531 people (in full-time equivalents, on national territory), i.e. 1.2% less than at the end of 2018. This slight decline is explained in particular by the progress of the digitization as well as by outsourcing to companies not taken into account in banking statistics. In the first half of 2020, however, according to the annual survey of the ASB, the workforce showed a small rebound in banks in Switzerland. Around three quarters of the establishments surveyed anticipate an unchanged employment situation in the second half of 2020.
While the Banking Barometer 2020 closely examines Wealth Management and Investment Management, it also devotes a special chapter to Corporate Banking. Operations with corporate customers, in particular, have been the focus of public attention since the coronavirus crisis erupted. At the end of July 2020, the volume of loans granted under the SME credit program totaled CHF 16.8 billion. Corporate Banking has thus established itself as a supporting pillar on which companies can count.
In 2019, private assets under management in banks in Switzerland totaled around CHF 3,700 billion, of which CHF 2,300 billion came from cross-border activities. In the context of growing uncertainty linked to geopolitical and economic conflicts, but also to the COVID-19 pandemic, the offers of banks in Switzerland remain attractive, including for foreign customers.
Competitiveness in the sights
Banks in Switzerland face many challenges. To ensure the competitiveness of the financial center, they need reliable framework conditions: “it is important for the future that Switzerland has access to the EU market, a pragmatic economic policy in the fight against the COVID-19 pandemic as well as close-to-market solutions in the field of sustainable investments, ”says Martin Hess, chief economist at ASB.
About the Banking Barometer
Published every year, the ASB Banking Barometer provides a synthetic overview of key figures and main developments in the Swiss banking center. It is based on statistics from the Swiss National Bank (SNB) as well as on the results of surveys carried out among member institutions. It will be presented to the public today at 10:30 am in Zurich. You will find this press release, the Banking Barometer 2020, the presentation of August Benz, Martin Hess and Thomas Rühl as well as various “facts and figures” on our website at
About the Swiss Bankers Association (ASB)
As the umbrella association of the banking sector, the Swiss Bankers Association (ASB) is the voice of banks. It works in favor of optimal framework conditions for the Swiss financial center, both nationally and internationally. It defends the interests of the banking sector vis-à-vis economic and political decision-makers, the government and supervisory authorities. It advocates the opening of markets, freedom of enterprise and fair conditions of competition. It is also a center of competence, rich in specialized knowledge in banking matters, which positions itself resolutely on relevant issues for the future. Founded in Basel in 1912, the ASB today has around 250 member institutions and some 12,000 individual members.
At the summit of G20 states this weekend, President Simonetta Sommaruga presented Switzerland’s positions. Due to the pandemic, the meeting was held in the form of a video conference. Discussions focused on how to deal with the COVID-19 crisis and the prospects for sustainable economic recovery and development. Switzerland has been involved in all the work of the G20 major industrialised and emerging countries as a guest country this year. Check this news and more on Kenleaks Magazine.
On Saturday, 21 November, Ms Sommaruga set out Switzerland’s views on the immediate priorities of the international community. “A strong and lasting recovery calls for actions that are also well-aligned with the objectives of the 2030 Agenda and the Paris Agreement. Short-term actions must reinforce longer-term policies to build a more sustainable, inclusive and prosperous future”, she explained.
On Sunday, 22 November, the emphasis was on building an inclusive, sustainable and stable long-term future. Ms Sommaruga stressed the growing risks posed by climate change. “2020 and 2021 are crucial years in our fight against climate change. G20 members are among the largest emitters while at the same time having the greatest capacity for making improvements. We urge all G20 members to aim for net-zero emissions by 2050 at the latest.”
Ms Sommaruga commended the fact that the heads of state and government were this year able to agree on a joint summit declaration: “This is a positive sign for multilateralism and helps to overcome the current crises. On the one hand, the health and economic crisis caused by COVID-19, and on the other, the climate crisis and the crisis of the multilateral trading system. Those who invest in sustainability in trade and climate protection also help people and companies.” Together with the other European states, Switzerland has made an ambitious contribution and advocated further efforts.
The G20 is an important driving force for the multilateral process in measures to stabilise the financial and economic system. This is reflected in the work of the International Monetary Fund (IMF), the World Bank and the Financial Stability Board (FSB) in dealing with the pandemic.Switzerland believes that international organisations such as the World Health Organization (WHO) and the World Trade Organization (WHO) need to be strengthened in order to be able to address global challenges.
Switzerland as a guest country
At the invitation of the Saudi Arabian G20 presidency, Switzerland has participated for the first time this year as a guest country in all the work of the Group of Twenty major industrialised and emerging countries. It has taken an active part in the work and discussions and put forward its positions, shared its experiences and submitted concrete proposals. Up until the outbreak of the COVID-19 pandemic, the Swiss delegations attended the working and ministerial meetings in person and were able to make useful contacts and foster relations.
In mid-March, while continuing to follow its ordinary agenda, the G20 set itself an extraordinary agenda devoted to managing the crisis. Since then, all meetings have taken place online. In March, the president attended a special summit of the G20 countries on the pandemic.
Press material was taken from the official website of efd.admin.ch