分类： business

In a major strategic shakeup of the global luxury fashion landscape, French luxury conglomerate LVMH announced Thursday it has reached a definitive agreement to sell its 28-year-old holding, the Marc Jacobs brand, to U.S.-based brand management firm WHP Global. The transaction, which is on track to close by the end of 2025 following completion of mandatory regulatory reviews, will retain brand founder Marc Jacobs in his role as creative director, a position he has held since the label was integrated into the LVMH portfolio back in 1997.

Marc Jacobs rose to become one of the most influential fashion labels of the early 2000s, drawing global acclaim for its boundary-pushing designs and cementing Jacobs’ reputation as a leading voice in contemporary fashion. However, in the years following its peak popularity, the brand gradually lost market momentum and underwent a series of overhauls to its business model in search of long-term commercial viability. After years of restructuring, multiple industry outlets confirm the brand has now returned to consistent profitability, setting the stage for LVMH’s divestment.

Per details from a separate statement issued by apparel conglomerate G-III, the company will join WHP Global as co-owner of Marc Jacobs through a 50/50 joint venture. G-III plans to invest approximately $500 million in the deal, which will be funded through a combination of existing cash reserves and new debt financing. Under the terms of the agreement, G-III will take responsibility for running Marc Jacobs’ direct-to-consumer retail and wholesale operations, while WHP Global will oversee overall brand strategy and intellectual property. WHP Global already manages a portfolio of well-known lifestyle and fashion labels including rag & bone, G-Star RAW, and Vera Wang.

In a joint statement released alongside the announcement, Marc Jacobs expressed deep gratitude to LVMH chair and CEO Bernard Arnault, the wealthiest person in France, for three decades of unwavering support. Before stepping back to focus entirely on his eponymous label, Jacobs served 16 years as the artistic director of Louis Vuitton, LVMH’s flagship luxury brand that drove much of the group’s global growth during his tenure. “I remain committed in my role as creative director of Marc Jacobs International and look forward to this bright new chapter,” Jacobs added.

Arnault also praised Jacobs’ contributions to the global fashion industry, highlighting the designer’s “unique vision” and “undeniable” impact that shaped LVMH’s development over the past 30 years.

Industry rumors of a potential sale first emerged in July 2024, when The Wall Street Journal, citing anonymous sources familiar with the negotiations, reported LVMH was in talks to offload Marc Jacobs in a deal valued at roughly $1 billion. At the time, the report noted the French conglomerate was in discussions with multiple potential suitors, including Authentic Brands Group — the owner of Reebok — and WHP Global.

The sale of Marc Jacobs comes as LVMH, the world’s largest luxury goods group by revenue that counts Dior, Celine, and Moët Hennessy among its dozens of brands, navigates a challenging global economic environment. In a recent corporate update, the group reported a 22% year-over-year drop in net profit for the first half of 2025, noting that the business demonstrates “good resilience” despite ongoing geopolitical and economic disruptions amplified by the ongoing conflict in the Middle East. LVMH first signaled slowing demand back in April, when it reported a 6% year-over-year decline in overall first-quarter revenue.

KINGSTON, Jamaica — In a landmark collaboration to uplift Jamaica’s professional painting and finishing sector, local chemical and coatings supplier EdgeChem has partnered with global industry brand Pentrilo to host the Jamaica leg of the Pentrilo Masters World Tour 2026, an immersive, hands-on professional development workshop focused on raising craft standards across the island.

Hosted on April 29 at Kingston’s Caymanas Golf Club, the event reimagined the popular venue as a dynamic, live working classroom, where more than 100 local painters and contracting professionals had the rare opportunity to learn directly from Juan Carlos Paris, an internationally acclaimed decorative painting specialist with decades of global industry experience.

Unlike traditional lecture-based training sessions, the workshop centered entirely on practical, real-world skill-building. Participants worked through guided exercises focused on cutting-edge application methods, getting firsthand experience with professional-grade tools and techniques that are still new to many Jamaican contractors. Training modules covered complex multi-layer finish application, precision surface preparation and taping, high-performance roller system use, and decorative plaster installation, allowing attendees to refine their craft step-by-step and build both technical proficiency and on-the-job confidence.

To extend the impact of the single-day event, every participant took home a custom Pentri Box stocked with a full range of specialized painting tools and equipment, enabling them to practice new techniques and apply their learnings to future projects long after the workshop concluded. At the end of the training, all attendees also received official certification for completing the global Pentrilo Masters program.

For Jamaica’s growing construction and finishing sector, the workshop filled a critical gap: it gave local professionals access to world-class training without the cost or barrier of traveling overseas for international education. This comes at a time when domestic demand for high-quality residential and commercial painting finishes is rising rapidly, as homeowners and business clients increasingly expect work aligned with global quality benchmarks. Industry leaders note that initiatives like this are essential to helping local contractors stay competitive and meet evolving market expectations.

Melissa McHargh, Chief Operating Officer of EdgeChem Jamaica Limited, highlighted that the high level of participant engagement throughout the day made clear that Jamaican painting professionals have a strong appetite for continuous improvement and skill development. She emphasized that adopting innovative tools and modern techniques does more than improve final finish quality—it also boosts work efficiency, reduces physical fatigue for on-site crews, and cuts down on unnecessary material waste.

McHargh added that bringing globally recognized training directly to local professionals helps close the gap between common domestic practices and international best-in-class methods. The long-term impact of this work extends far beyond individual participants, she noted, as improved skills will drive higher efficiency, less waste, and higher overall project quality across job sites throughout Jamaica.

EdgeChem CEO Ockino Petrie emphasized in an official news release that the company’s mission goes far beyond simply supplying coatings and finishing products to the Jamaican market. “At EdgeChem, our role goes beyond supplying coatings; we are committed to strengthening the entire ecosystem that supports quality construction and finishing,” Petrie said. “By bringing world-class training directly to Jamaican professionals, we’re helping raise industry standards, improve sustainability and ensure our local contractors can confidently compete at an international level.”

By the end of the landmark session, participants departed not only with new certification and professional tools, but also with a renewed sense of pride and perspective on their craft, ready to bring upgraded skills to projects across the island.

KINGSTON, Jamaica — In a major step toward advancing inclusive banking across the country, Scotiabank Jamaica announced Friday the official launch of audio-assisted transaction guidance at hundreds of its automated teller machines distributed across the island. The new accessibility feature is specifically designed to remove long-standing barriers for members of the sight-impaired community, granting them greater autonomy to complete routine banking transactions on their own. In a public statement released to customers, the financial institution emphasized that accessible banking services are a right for all consumers, regardless of ability, and the bank expressed pride in rolling out this customer-centered upgrade. To use the new audio guidance function, customers only need to connect a pair of wired earphones to the dedicated headphone jack built into the ATM. Once connected, users receive clear, step-by-step voice directions that walk them through every stage of their transaction, from starting the process to confirming final details, allowing them to complete their banking confidently. Scotiabank has laid out a simple, easy-to-follow workflow for users leveraging the feature. After inserting their wired headphones into the ATM’s jack, the service activates automatically. Next, both audio and on-screen prompts ask users whether they prefer to hide the transaction screen to protect their personal privacy. If a user selects “yes”, the screen turns blank to prevent bystanders from viewing sensitive information; if they opt out, the screen remains visible as normal for the duration of the transaction. Users can then customize their experience by adjusting the audio volume and voice speaking speed through options provided on the ATM’s keypad or touchscreen interface. Once users confirm their preferred settings, they just follow the on-going voice instructions to insert their bank card, enter their personal identification number, select their transaction type and complete the process smoothly. As of the launch date, more than 280 Scotiabank ATMs across Jamaica are already equipped with the new audio guidance feature, covering most high-traffic and community locations around the island. Customers who want more details about the function, or a full updated list of ATMs with accessibility support, can visit the bank’s official Jamaica website at jm.scotiabank.com for complete information. The launch marks one of the first large-scale deployments of ATM accessibility features by a major Jamaican bank, setting a new benchmark for inclusive financial services across the Caribbean region.

As the entry-level model in BMW’s popular X-series of sport activity vehicles, the 2026 X1 is strategically positioned to introduce new drivers to the premium German automotive lifestyle, giving them a compelling first taste of the quality and performance that defines higher-tier models in the brand’s lineup. Unlike the brand’s past “Russian doll” design philosophy that saw nearly identical styling scaled across all models, BMW’s modern design approach leans into distinct visual identities for each vehicle while retaining core brand design DNA that makes every BMW instantly recognizable. The 2026 X1 embodies this shift perfectly.

The latest iteration of the X1 has grown in dimensions, and BMW has used that extra space to craft a more rugged, squared-off silhouette that still carries all the classic familial design cues buyers expect. The most noticeable exterior updates live at the rear, where the 2026 model features a unique, one-of-a-kind light signature that sets it apart from larger X-series siblings. For buyers looking for a sportier aesthetic, the available M Sport package adds 18-inch performance wheels, while the high-gloss shadow line trim swaps standard bright exterior accents for a streamlined, monochromatic finish that leans into a modern, understated luxury vibe. From the side, upright proportions and large, smooth body panels give the X1 a substantial, mature presence, with a subtly extended roof edge that accentuates its flowing, dynamic silhouette.

Step up to the 2026 X1, and the convenience of keyless entry immediately preps the vehicle for your departure. Inside, a thick, tactile leather steering wheel sits in front of a power-adjustable driver’s seat with memory functionality, and both front-row seats strike an ideal balance between bolstered support for spirited driving and plush cushioning for long highway stretches. Staying true to BMW’s traditional craftsmanship, the entire cabin is trimmed in high-quality materials that match the solid, premium build quality, with an ergonomic layout that integrates cutting-edge tech into a clean, modern dashboard. Unique details like the sculpted door handles add subtle character to the interior design.

Leveraging its increased exterior footprint, the 2026 X1 delivers expansive passenger space and a full array of storage solutions that meet the practical demands of the compact SUV segment. A standard panoramic sunroof amplifies the sense of openness during daytime drives, while after dark, it pairs with configurable ambient lighting to enhance the cabin’s refined, welcoming atmosphere. At the heart of the X1’s tech suite is the BMW Live Cockpit Plus system, which pairs two crisp full-digital displays: a 10.25-inch customizable instrument cluster and a 10.7-inch central infotainment touchscreen. Both displays offer sharp graphics and flexible customization options to put every piece of information a driver needs front and center.

BMW’s latest iDrive infotainment system operates with responsive, smooth performance, and added connectivity comes via BMW Connected Plus Unlimited, which stores driver profile presets, delivers real-time active local navigation, and enables the native BMW voice assistant to control most of the vehicle’s automatic and powered convenience features.

No BMW would live up to the brand’s reputation without engaging driving dynamics, and the X1 sDrive18i does not disappoint. Its 1.5-litre turbocharged three-cylinder engine has been upgraded with extra power and torque, now pushing out 156 horsepower and 170 lb-ft of torque to the front wheels through a quick-shifting seven-speed dual-clutch automatic transmission. This output delivers more than enough low-end and midrange pulling power to feel playful whether you’re navigating crowded city streets or carving through winding backcountry roads. The wide, accessible torque band lets the X1 accelerate quickly to maneuver through gaps in highway traffic and hold its own in fast-moving conditions, and its compact footprint and snappy transmission make it agile on narrow country lanes, darting smoothly from corner to corner. Despite its punchy performance, the engine still delivers commendable fuel efficiency for daily driving.

The X1’s chassis matches the engine’s performance, with a ride tune that balances sporty responsiveness with compliant comfort, keeping the vehicle composed over rough pavement while inspiring confidence through sharp steering and dependable braking.

After multiple generations of refinement, the X1 has evolved into a standout luxury compact SUV that can hold its own even in its base sDrive18i trim, packing plenty of modern technology, premium amenities, generous passenger space, and engaging driving dynamics. But it also succeeds in its core role as an entry point to the BMW brand: by delivering such a satisfying premium experience, the 2026 X1 lays a clear foundation that encourages owners to move up through the BMW model lineup as their needs and budgets grow, cementing its place as the perfect introduction to the BMW ecosystem.

At the inaugural Love Caribbean: Jamaica Edition 2026 conference hosted this week at Princess Grand Jamaica in Green Island, Hanover, a veteran travel industry specialist has sounded the alarm over volatile airline ticket pricing, urging immediate coordinated action between air carriers and local accommodation providers to protect Jamaica’s core tourism sector.

Claire Robinson, a destination wedding expert and travel agency owner with decades of cross-sector experience including a previous role at the now-shuttered Air Jamaica, laid out her concerns during a panel discussion Tuesday, highlighting recurring disruptions that have eroded client trust. Robinson, who has been named a Destination Jamaica Top 50 Travel Advisor for nine straight years and currently operates Claire Skies Travel from the United States, explained that today’s extreme price swings create impossible barriers for travel planners. Even when agents hold quoted combined airfare and hotel packages for just 24 hours to let clients decide, she noted, return calls often reveal ticket prices have jumped dramatically—far beyond minor, expected adjustments.

The vast majority of global airlines now rely on dynamic pricing frameworks, which adjust ticket values in real time based on variables like booking demand, route popularity, and operating costs. Looking back to her earlier career in aviation, Robinson recalled a far more stable pricing environment, when promotional weekend fares from Baltimore to Jamaica remained fixed for an entire travel season. While she acknowledged that shifting industry conditions—most notably sustained high fuel costs that have pushed up airline operating expenses—have transformed the sector, she argued that daily, unpredictable price fluctuations pose a systemic risk to Jamaica’s entire tourism ecosystem.

“Without aligned collaboration across all parts of the travel industry, we are setting ourselves up for major challenges in the years ahead,” Robinson warned, emphasizing that the current volatility will ultimately drive away prospective visitors who are deterred by unpredictable pricing.

In response to Robinson’s comments, Jamaica’s Deputy Director of Tourism Philip Rose, who also attended the four-day industry conference, pushed back on the critique, noting that existing partnerships between airlines and large Jamaican resorts are already well established. The Jamaica Tourist Board regularly brings both sides together at conferences and strategic planning meetings to coordinate on critical planning, from airline flight capacity planning to resort expansion projects, Rose explained.

“These two segments of the industry work hand in hand on core growth initiatives,” he said. On the topic of pricing itself, Rose framed dynamic pricing as a standard market practice that aligns with how any industry operates: businesses set prices based on what consumers are willing to pay.

As a long-standing top global travel destination, Jamaica draws consistent high demand, and both resorts and airlines operate as commercial entities that need to turn a profit, Rose noted. Far more concerning than fluctuating prices, he argued, is the risk of deep price drops that would cheapen Jamaica’s brand as a premium travel destination—a outcome that he said has not occurred in Jamaica’s modern tourism history and is unlikely to emerge anytime soon.

The 2026 conference, which ran from Monday to Thursday, brought together hundreds of wedding planners, travel advisors, and travel industry leaders to focus on the fast-growing niche of destination weddings and romance travel—one of the most lucrative segments of Jamaica’s tourism economy.

A dramatic 25% jump in domestic fuel prices across Jamaica is emerging as a major new headwind for the Bank of Jamaica’s (BOJ) inflation stabilization strategy, undoing progress that had allowed policymakers to begin cautious monetary easing earlier this year. The challenge comes to a head this Friday with the release of the Statistical Institute of Jamaica (Statin)’s April inflation reading, ahead of the BOJ Monetary Policy Committee’s late-May meeting, which will convene against a backdrop of spiking global oil prices and escalating geopolitical tensions roiling international energy markets.

Data from state refiner Petrojam tracks the steep upward trajectory of local fuel costs: regular 87-octane gasoline climbed from $151.32 per liter on February 26 to $189.88 per liter by May 14, a $38.56 per liter increase equal to roughly 25%. Over the same window, 90-octane premium gasoline rose by an average of $40 per liter, while automotive diesel gained $35.25 per liter to hit nearly $198 per liter. These local price gains trace directly to escalating supply disruptions at the Strait of Hormuz, the world’s most critical energy chokepoint that links the Persian Gulf to global consumer markets. Heightened conflict between Iran and the United States has disrupted commercial tanker transits through the narrow waterway, tightening global energy supplies substantially.

New data from the U.S. Energy Information Administration (EIA) quantifies the severity of the supply shock: total flows of crude oil, condensate, and refined petroleum products through the strait dropped to 14.6 million barrels per day in the first quarter of 2024, down nearly 30% from 20.7 million barrels per day in the final quarter of 2023. The EIA confirmed that conflict-linked supply disruptions have been far more severe than initial projections, forcing the agency to sharply upgrade its forecast for global oil inventory drawdowns over the rest of the year.

Global oil markets have reflected this tight supply: international benchmark Brent crude traded near $105 per barrel on Thursday, after topping $110 per barrel earlier this week, as persistent tensions around Iran and Hormuz keep market participants on edge. For import-dependent Jamaica, this confluence of rising crude prices, elevated shipping costs, and tighter refined fuel supplies has translated directly to much higher landed fuel costs that pass through to consumers and businesses.

The BOJ first flagged growing uncertainty around the inflation outlook back in March, warning that Middle East conflict and resulting commodity and energy price gains posed material risks to domestic price stability. The central bank noted that the energy shock creates a difficult policy tradeoff for global central banks, pushing up inflation while simultaneously dragging on economic growth. Despite these warnings, the BOJ held its benchmark policy rate steady at 5.50% in March, following a February rate cut that came when early 2024 data showed inflation pressures beginning to moderate. That cautiously optimistic outlook has quickly shifted, however, as fuel price gains accelerated through March and April.

Energy price increases typically ripple through national economies in a staggered pattern: they first raise direct costs for gasoline and diesel, then over time push up prices for transportation services, electricity generation, food distribution, and general business operating costs. Jamaica’s largest electricity provider, Jamaica Public Service, recorded a drop in its fuel rate adjustment to $26.852 per kilowatt-hour in April, down from $33.008 per kWh in March — a move that reflects lagged pricing based on earlier, lower fuel costs. But industry analysts note that sustained global oil price gains will likely reverse this trend and push electricity fuel rates higher in coming months if Hormuz disruptions continue.

For Jamaican consumers, the new fuel costs have already translated to tangible budget pressure: a motorist filling a standard 45-liter tank of regular gasoline now pays roughly $1,735 more than they did in late February. Commercial operators and diesel-reliant businesses, including logistics firms, agricultural producers, manufacturers, and tourism transportation providers, face similar margin pressure. As Jamaica imports nearly 100% of its refined fuel, the country remains uniquely exposed to international oil price volatility, shipping disruptions, and geopolitical shocks that originate thousands of miles from its borders.

The steepest local price gains occurred between March and early May, as global supply concerns intensified: 87-octane gasoline rose from $154.38 per liter on March 5 to over $190 per liter by May 7, before edging lower in the most recent weekly price adjustment. Automotive diesel followed the same trajectory, climbing from $166.75 per liter in early March to $197.75 per liter by May 7. While the latest Petrojam pricing update brought a marginal 25-cent decline for both regular gasoline and diesel, leading international energy forecasts indicate broad upward pressure on oil markets will persist if Hormuz transit disruptions continue.