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Tradition, Pop Culture Artfully Combine in New Glass Collection
By Lisa Klein & Luxury Portfolio International
Artemest, a leading online marketplace for handmade Italian-made luxury goods, recently decided to play matchmaker, partnering up street artist Bradley Theodore with top Murano glassmakers for a bespoke collection of pop art pieces.
The resulting glass items are being showcased in a special exhibit, BLOW: Bradley Theodore meets Murano, during Milan Design Week 2022.
“In a time when everything boasts the signet of design – from a toothbrush to a work of art – Artemest cast American artist Bradley Theodore in the hands of Murano artisans as author and provocateur,” said Ippolita Rostagno, cofounder and creative director of Artemest, in a release.
“The result is a curated collection which witnesses the idea that ‘clash’ and ‘culture’ are no longer at odds,” she said.
Mr. Theodore, raised in Turks and Caicos and now splitting time between Miami Beach and New York, worked with nine Murano glassmakers – Covi e Puccioni, Fornace Mian, Fratelli Tosi, Luci Italia, Multiforme, Ongaro & Fuga, Specchi Veneziani, Venice Factory and Vetralia – on the collection.
Murano glassmaking is a centuries-old medium practiced on the isle of Murano in Venice, known for its craftsmanship, bright colors and the soda and lime added to the standard silica used in glass.
Mr. Theodore, on the other hand, is known for his giant urban murals and skull motifs.
The one-of-a-kind pieces that rose from the unusual combination mix motifs from Mr. Theodore’s tropical island childhood with Venetian symbols into lobster mirrors, pineapple chandeliers and, of course, plenty of skulls in the form of mirrors and sconces.
Mr. Theodore’s visits to the different Venetian makers were documented and cut into a short film on the creative process that is being screened at the exhibit space.
The entire BLOW collection is available for purchase from Artemest.
“It was a great experience to go behind the scenes with the glass makers and draw inspiration from the history of Venice,” Mr. Theodore said in a release.
“The essence of art lies in freedom of expression and creative exchange, and I am honored to have worked with the best in their field to create something new and exciting,” he said.
Seven Trends: Defining the Luxury Home of Today
The State of Luxury Real Estate 2022 (SOLRE) research spans 20 countries and 4,673 interviews among high-income (top 5%) and high-net-worth individuals (USD $1 million or more). it fields data collection in the fourth quarter each year and focuses on luxury home (USD $1 million or more) buyer’s wants and needs, preferences and lifestyle.
The Luxury Home of Today reports the heart of the luxury market to describe and detail what consumers deem to be essential features of the home and life.
- Security and self-sufficiency are top priorities in the next luxury home.
- Sustainability is a key differentiator in luxury homes. Basic features such as energy efficiency will suffice for now, but more fundamental expressions will be needed in the future including design elements and building materials.
- At-home entertaining is coming back – formal living and dining rooms, a chef’s kitchen with dual luxury brand appliances, a dedicated wet-bar and an outdoor kitchen all top the list.
- Indoor styling is moving outside. In addition to the outdoor kitchen, buyers want a pool area with lounge seating, fire features, smart technology and wireless Internet.
- The Great Outdoors calls as buyers seek grassy yards and areas for gardening. Whether flowers, edibles or the stones found in a tranquility garden, buyers love bucolic scenes.
- Lifestyles are dominated by a pulsation of active and idle time. Buyers love reading, learning new skills and contemplative time in relative quiet and solitude. When that is over, they love being active, spending time with family, exercising or training and using the latest in at-home technology to recover more quickly.
Read the full publication here.
Vibrant Interiors – Living Large at Home
Designer Andrea Monath Schumacher Celebrates Living Vibrantly in Her First Book of Interiors
By Lisa Klein & Luxury Portfolio International
Andrea Monath Schumacher has been creating personality-filled spaces for over two decades.
Last week she released her first book, Vibrant Interiors: Living Large at Home, detailing six playful projects that embody the layered and bold yet balanced style of her design firm, Andrea Schumacher Interiors, based in Denver, Colorado, with a new outpost in Santa Barbara, California.
Below, she discusses her design philosophy and new adventure as a book author with Luxury Portfolio.
Photo courtesy of Gibbs Smith from Vibrant Interiors. Interior design by Andrea Monath Schumacher/Andrea Schumacher Interiors. Photo by Roger Davies
First of all, can you tell us a little bit about your background and how you got started as a designer?
I founded my design firm in 1999 almost by accident.
I had been working as an intern set designer for “Days of Our Lives” and Columbia Pictures and decided to continue my education. I was taking courses towards a masters [degree] in architecture at the University of Colorado when clients started approaching me to design their homes. From there, things took off, and now we are a firm of 11 and growing.
Vibrant Interiors is your first book – what made you decide to write it?
I feel honored to work in design and to be able to touch the lives of so many through creating beautiful, livable spaces.
Our environments hugely impact our emotions, and I want to create spaces that make my clients feel wonderful. This book includes tips, tricks and insight into how others can do the same for themselves.
What can readers expect to find in the pages?
My grandmother was an artist who taught me the importance of living beautifully. I learned so much from her, and I always like to imbue artistry into the home, whether it be with antique Chinese doors or captivating snake candleholder sconces. Great design is all about the details.
Photo courtesy of Gibbs Smith from Vibrant Interiors. Interior design by Andrea Monath Schumacher/Andrea Schumacher Interiors. Photo by Roger Davies
So, what does make an interior vibrant?
Going back to my days as a set designer, we were always thinking about the stories we were conveying through the spaces we designed. I do this today with my clients. I think an interior is vibrant when it tells your story authentically and lets you live to the fullest.
How would you describe your design style?
My style is all about mixing colors, time periods and inspirations to create elegant, layered interiors.
Growing up, my dad was a virologist for the CDC, so we lived everywhere from Atlanta to Nigeria. Living in so many corners of the globe was essential to developing my design eye and is backed by my education.
What are some of your favorite design elements to work with?
I really enjoy working with unusual, unique furniture pieces and art. I’m also no stranger to pattern and color.
You do use a lot of color in your designs. What do bright, bold colors lend to a space?
I love color. It makes everything more exciting, but it is all about using color correctly and achieving a balance. Too much of a good thing is never good.
I typically begin by finding one element in the room that will serve as the foundation of the palette – for example, a piece of art or a fabric. From there, color can be splashed across the walls or used more restrainedly, like on a lampshade.
Photo courtesy of Gibbs Smith from Vibrant Interiors. Interior design by Andrea Monath Schumacher/Andrea Schumacher Interiors. Photo by Roger Davies
What do you do to balance out louder elements such as color and pattern?
I think about how all elements interact with one another, including the room’s flow and the architecture. The careful attention to scale allows for a nice foundation upon which to add color and pattern. It is methodical so as not to tip the scale too far.
I will also create visual pauses – for example, solid pillows or fabrics for color blocking.
How do you inject some personality into each space?
I do this by creating interiors that reflect the lives of the homeowners. Where have they been? What do they collect?
Conversation pieces are also an important part of the storytelling process. They can be rare or simply out of place and unexpected. They allow for connection with others and with our homes.
How does Vibrant Interiors reflect your work overall?
The book focuses on six projects. They all have their own unique spirit but reflect my love of the mix to create truly inspired spaces with a wink.
PANEL: Political and Economic Reactions to Russia’s Invasion of Ukraine
By Lisa Klein, Luxury Portfolio International
Russia’s invasion of Ukraine has been devastating for the European nation and its consequences are being felt the world over.
A group of panelists discussed the potential impacts of the ongoing crisis on the world economy, luxury market and beyond during a Luxury Daily webcast earlier this month.
“Russia as a nation is quite integrated with the rest of the world,” said Astrid Wendlandt, founder and editor of luxury news site Miss Tweed and author of How Luxury Conquered the World. “The prospect of the Iron Curtain falling again is beyond words.”
The webinar was hosted by Mickey Alam Khan, editor in chief of Luxury Daily.
Political Turmoil
Countries across the globe have responded to Russia’s actions with a flurry of sanctions against it and its ally, Belarus.
“The sanctions that have been imposed have probably been the most significant in history,” said Robert M. Appleton, a partner at New York-based legal firm Olshan Frome Wolosky LLP. “The most important one has been the SWIFT sanction banning Russia from the SWIFT system.”
SWIFT is a global organization that sends secure financial transmissions. All global economies belong to and use the system, with the U.S. dollar as the reserve currency.
With Russia and its citizens effectively cut off from any cross-border financial activity, the country’s economy has shut down.
In addition, a wave of companies has also cut Russia off, with many shutting down their stores and restaurants there.
“I’ve been surprised to see that there are the official sanctions, and then there’s what the rest of the world is doing on top of that,” said Marci Rossell, chief economist for Leading Real Estate Companies of the World®.
“You have brands saying, ‘We don’t want anything to do with Russia, sanctions or no sanctions,’” she said. “And that’s a really different story for the world than anything we’ve seen before.”
While Russia, and its civilians in particular, will likely not be permanently shunned from the rest of the world, the sanctions and other actions against it may have a ripple effect on certain aspects of geopolitics.
“Long term, my sense is that this is going to spur real innovation with currency and cross-border financing,” Mr. Appleton said. “Looking at unintended consequences, I think the biggest risk and the biggest potential here is the Chinese.”
For years, China has been looking to get away from the SWIFT system and the U.S. dollar as reserve currency, as that leaves it vulnerable to global sanctions itself. It is closely watching the Russian situation unfold, potentially giving an extra push to make an exit.
Economic Reaction
The sanctions have hit the world economy as well – Russia is second only to Saudi Arabia in oil exports – with oil prices crossing $100 per barrel. Global inflation could reach 6 percent in the next few months, impacting the stock market, assets and discretionary spending.
“Everything is impacted by higher prices of oil and gas,” said Marie Driscoll, managing director for luxury and retail at data and advisory firm Coresight Research.
“We came into this year, before we were concerned about Ukraine, worried about inflation,” she said. “Prices are being raised across the board, and now you have this whammo effect of $100-a-barrel oil, and then the impact on our collective psyche.”
While higher costs affect lower income and “aspirational buyers” more than the affluent, it does at least cause some short-term concerns for the well-to-do.
“The bigger risk is that global luxury consumer really depends on a stable global economic market,” said Omar Saad, senior managing director and head of soft lines for the luxury and department stores team at Evercore ISI, a research and advisory firm. “Wealthy people want stability as much as anything.”
In the near-term, even luxury brands will take a hit, as consumers are less likely to buy when they feel uncomfortable – something magnified at the beginnings of the COVID-19 pandemic.
“I think the growth that we predicted coming into the year will be muted,” Ms. Driscoll said. “What we thought 2022 was going to be – getting COVID behind us, returning to travel, international growth, and spending – all that may be truncated.”
Luxury Consumers
Numerous luxury brands have joined the retail and hospitality throngs and closed up shop in Russia for the time being, a move heralded by many global consumers.
“Companies as diverse as T.J. Maxx to Gucci are standing in solidarity with the Ukrainians,” Ms. Driscoll said. “I think luxury brands have responded as they should. These are brands that we personify, we have relationships with them.”
One consumer, however, has maybe been left out of the discussion – the Russian buyer, who in luxury spends on real estate, yachts, jewelry, spirits and other goods.
“There’s a lot of anti-Russian sentiment around the world,” Ms. Wendlant said. “And that’s very interesting because for a lot of luxury brands Russians were some of the best, most favorite customers. I mean, these are people who love to spend millions. The Russians love to show off, they love to buy, they love luxury goods.”
The panelists agreed that the average Russian citizen seems to be against the invasion and is unfortunately facing penalties meant for their leaders.
“There is a lot of repression right now, and the Russian people are thinking, ‘When will we just be allowed to live?” Ms. Wendlandt, who has covered the country extensively as a journalist, said. “They want to live normal lives.”
IN THE LONG TERM, the luxury market should come through fairly unscathed.
“I think still there’s too many degrees of separation to have any meaningful impact,” Mr. Saad said. “I tend to take a skeptical view that this is really going to change anything for the luxury consumer other than a temporary blip.
“Luxury real estate is one of the safer long-term bets, as is luxury in general,” he said. “You know, our entire society is designed to create wealth, war or no war.”
2022 Economy Will Continue Recovery, but Issues Remain
By LISA KLEIN
The pandemic caused a very short economic downturn unlike any other, and while the globe bounced back quickly, the manufacturing and service sectors lag behind.
Affluent individuals generally benefitted from the COVID-19 economy but are also feeling the fallout in terms of what they are able to buy and do, which is a trend that is expected to continue into 2022.
“No matter how much money they had, they couldn’t spend money on the kind of high-touch, close-contact services that many of them were accustomed to, that had sort of been built into their lives,” said Marci Rossell, chief economist for Leading Real Estate Companies of the World,® during Luxury Portfolio International’s 2021 Affluence Forum.
Highs and Lows
In the spring of 2020, entire countries closed down and were forced to continue to restrict their restaurant, travel and hospitality sectors. Manufacturing and shipping, too, had to hold back thanks to COVID-19, and mass layoffs were seen across numerous industries.
Naturally, the global economy was not immune either, but the downturn it saw was different than a usual recession.
“What made it different than other downturns is that it came from outside the economy and moved in rather than inside the economy and moved out,” Ms. Rossell said.
The recessions of the 1970s started within the oil industry, and in 2008 it all started in the housing sector before spilling out into other areas of the economy.
With the coronavirus pandemic, things crashed all at once due to a non-economic factor.
Also, in normal circumstances, an economic downturn typically leads to declines in personal wealth.
“This time around, the value of folks’ portfolios and their homes might have dipped dramatically in a three-month period of time, but boy, everything just snapped back so very quickly,” Ms. Rossell said.
After the initial shock of the pandemic, the value of stocks, bonds and real estate – the main vessels for personal wealth – actually increased dramatically.
According to Ms. Rossell the stock market alone is up 30 percent worldwide, and from pre-pandemic levels to boot.
“Wealth increased almost $28 trillion globally last year,” she said.
“To put that into perspective, the U.S. economy is a $22 trillion economy,” she said. “So in terms of wealth, it was almost as if you added to the globe an entire U.S. economy, plus some.”
Supply & Demand
Fast gains in wealth ushered in big increases in demand throughout the past year, with pandemic-affected industries struggling to keep up.
“2021 was a year where the global economy really snapped back in terms of economic activity, and growth picked up,” Ms. Rossell said. “Many sectors sort of exploded in terms of how quickly they recovered.”
Somehow, though, despite the initial pandemic unemployment rate, there is a shortage now in the labor pool for many sectors, caused by the unusual nature of the 2020 downturn.
While any economic downturn will lead to job losses, normally that happens over a long period of time. In 2020, people were instantly severed from their employer and often the place they lived as a result.
“Once you cut that for them, they’re not going back to the same job, they’re not going back to the same town, they’re not going back to the same way that they lived before,” Ms. Rossell said. “And so this is causing real friction in labor markets today.”
In addition, Gen Z is much smaller that the millennial generation, and every year there are 400,000 fewer 18-year-olds entering the labor pool in the United States alone.
High demand plus a workforce shortage have led to sticker shock for many, with goods and services price hikes, real estate prices that went through the roof and a whopping 5 percent inflation.
“Those inflation numbers are something we haven’t seen in decades,” Ms. Rossell said. “And it’s making folks worry: is the stock market going to crash, is there a housing bubble?”
2022 Forecast
The economist does not believe 2022 will see any burst bubbles, especially when it comes to the housing market.
Throughout the pandemic, people purchased larger and larger homes because they needed the space for working, schooling and entertaining. But pandemic or not, millennials have been buying those homes anyways, as they are moving on into a new family-oriented phase of life.
Plus, homebuyers can afford what they are purchasing this time around, many making cash offers for property recently.
There will, however, be some things that money just cannot buy again yet.
“Factories worldwide are churning out goods trying to get them to clients,” Ms. Rossell said. “But you don’t have truck drivers, you don’t have dock staff, to get them from the ships to our homes, our stores, all those things because of the labor market issues.”
Labor shortages in the travel, leisure and entertainment industries have also soured the experience, especially in the luxury market where consumers are used to a certain quality of service.
“If you’re a high-net-worth person who has plenty of income, plenty of wealth – it’s piling up in your stock portfolio, it’s piling up in the value of your home,” Ms. Rossell said. “You want to spend money on things and in some instances you can’t.”
While she advised that these issues are only temporary, that may not be enough for some.
“I think 2022 could be sort of a year of frustration,” Ms. Rossell said.
Landmark Moment: Company Announcement
On Tuesday, August 10, 2021, Colorado Landmark, Realtors’ Founder, Joel Ripmaster welcomed his daughter, Orly Ripmaster as the incoming President and Co-owner of the company, as well as Scott Ripmaster the new Vice President and Head of Recruiting.
Joel hosted a spirited transition announcement at Folsom Field, in the heart of The University. It felt fun and appropriate to kick off the announcement at this significant venue, as it’s been an integral part of his and his family’s lives. “As we lean into local, what could be more local than being right here in the heart of the buffalo!” – Joel Ripmaster
Colorado Landmark, Realtors’ story began in 1977, shortly after founder Joel Ripmaster, graduated from the University of Colorado Boulder, where he played football for the University of Colorado Buffaloes. Where he would spend his time hiking from campus to Chautauqua Park with his college sweetheart and later to be wife. The two young Midwestern students would walk and daydream about one day owning a home in Boulder, starting a family and a business, and spending a life here. Joel fell in love with Boulder, his wife, and residential real estate and what it represented to his young family.
Over the last 45 years, Joel has committed to being a coach and mentor, and committed to Boulder. Colorado Landmark felt being independent and local is more important and sought after than ever before. “What we have built can’t be replicated!” Being one of the top independent agencies in the country is a huge accomplishment. With that, Joel realized that he needed a partner. A partner who can table the future while honoring the past and has the capacity, the drive, and desire to take the long view. He found his partner… A fellow real estate executive with 20 years experience in Real Estate and Private Equity, with an MBA in Real Estate from ESSEC Business School in Paris, France, Ivy League credentials with an honor’s degree from Harvard, and a Master’s in communications from the University of Colorado. An athlete, a scholar, a Mom, a daughter and a Real Estate executive. She is joining the team as the retiring Senior Vice President and Chief of Staff of KSL Capital Partners.
“I am humbled that she would ever consider leading this organization. Partnering with my daughter to establish a sustainable succession plan that ensures the DNA of Colorado Landmark, Realtors for years to come.”
Orly will strategize, modernize and bring vitality to the day-to-day operations and management of the business. Joel will continue to work shoulder-to-shoulder with Orly and will remain the Founder of Colorado Landmark, Realtors and named Principal of the organization. As Principal, Joel will remain to build and mentor the team and brand with his foundational knowledge and expertise, as well as manage and grow his own luxury sales. With 15 years in the business, Scott will bring fresh energy to our recruiting team and management to the Louisville location. His expertise and authenticity will be such a powerful accelerator for the brand and the voice. Colorado Landmark prides itself in being a local, independent, family-oriented real estate firm and is now female owned.
“We talk a lot about Landmark Moments and this week’s announcement was certainly amongst the most significant landmark moments in my career. It’s a really exciting time to be at Colorado Landmark. We will be leaning into our brand, galvanizing our messaging and and celebrating the power of our new positioning: Local, Independent, Family Built, Female Owned. Needless to say, I am so proud” – Founder, Joel Ripmaster
Just Released: International Luxury Buyer Trends and Demand
The past year has shown us that real estate is a timeless investment that can endure and even thrive in challenging economic conditions.
Accordingly, Luxury Portfolio International® has released its latest report, International Luxury Buyer Trends and Demand, which follows on our State of Luxury Real Estate 2021 report released in January.
Taking from the trends we identified in our initial State of Luxury Real Estate report, we find the international buyer is highly mobile, motivated by feelings of self-reliance, and after many months of time at home, is looking to add excitement and fun in his or her daily life.
Findings include:
- Investment properties and holiday residences are of top interest
- Proximity to nature is prioritized over proximity to the city
- Newer builds are preferred, namely those constructed during the last five years
- A list of top global property destinations for luxury buyers
- The primary reasons for international purchases
From a regional standpoint the U.S./Americas & Caribbean account for 37% of the interest from international luxury buyers, followed by Europe and the Middle East at 29%, and Asia at 18%. Narrowing location further, Hawaii is garnering the most attention – a noteworthy one in five (20%) international buyers have expressed interest.
Mickey Alam Khan, President of Luxury Portfolio International commented, “Hawaii tops the list for international property buyers, and if you’ve visited the Aloha State it’s easy to understand why. The islands boast pristine beaches, lush tropical greenery and incredible year-round temperatures. Our report shows affluent buyers are interested in regions which provide for their needs—great entertainment as well as investment opportunity and lifestyle enrichment.”
Take a deep dive into the mind of the affluent. Download International Luxury Buyer Trends and Demand.
Announcing the 2020 Real Trends Superstars
The 2020 Real Trends Rankings have been released, and Colorado Landmark has some superstars on the list!
America’s Best Real Estate Professionals honors America’s finest real estate agents from all across the country! Over 18,000 U.S. real estate sales associates from every state are featured in America’s Best.
Those ranked are among the top 1.5% of 1.4 million real estate professionals in the United States!
Marybeth Emerson – #1 INDIVIDUAL IN BOULDER and #37 individual in Colorado by Volume
Kim Thompson Group – #8 SMALL TEAM IN BOULDER and #43 small team in Colorado by Volume
The DRF Team – #1 MEDIUM TEAM IN BOULDER & NIWOT and #19 medium team in Colorado by Volume
The entire list of winners from all over the country can be viewed here
Landmark Moment: Colorado Landmark, Realtors VP & Agent Jennifer Fly Serves as a Panelist at Luxury Portfolio International’s REimagine Conference
Colorado Landmark, Realtors Vice President and Agent Jennifer Fly recently presented at Leading Real Estate Companies of the World and Luxury Portfolio International’s REimagine Conference.
With over 20 years of experience in real estate, Jennifer is recognized as an industry expert, and served as a panelist on the main stage at the Wynn in Las Vegas. The session she spoke in was dedicated to helping agents from all over the world understand how to best prepare their buyers to win during multiple offer situations, a scenario our industry is experiencing now more than ever, given current market conditions.
As a firm, we are grateful for Jennifer’s leadership and guidance when it comes to creating Landmark moments in the lives of our clients, agents, and staff!