The 'lipstick index' strikes again: Beauty shoppers are still spending big, even as US consumers dial back on everything else

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A shopper looks at beauty products at an Ulta Beauty shop inside a Target store.
Target says Ulta Beauty sales in its stores increased fourfold from 2021 to 2022.

Target

Pharrell Williams was just named the new creative director of Louis Vuitton's menswear division

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Pharrell Williams
Pharrell Williams was named "Men's Creative Director" of Louis Vuitton on Tuesday.

Axelle/Bauer-Griffin / Contributor/Getty Images

Nike is teaming up with Tiffany & Co. on a $400 shoe. Sneakerheads aren't impressed.

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nike tiffany & co sneaker collaboration box
The collaboration shoe is expected to retail at $400.

Nike

World's richest person Bernard Arnault's fortune has increased by more than $33 billion this year

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Bernard Arnault
Bernard Arnault has a net worth of $196 billion.

Nicholas Kamm/AFP via Getty Images

The $400 Tiffany & Co. and Nike sneaker collab is just the beginning — the brands are also hawking silver accessories like shoe horns totaling over $1000

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Tiffany Nike Air Force 1
The Nike Air Force 1 Low Tiffany & Co. "1837" releases next month.

Tiffany & Co.

Warren Buffett is the only top-10 billionaire to become poorer this year after Berkshire Hathaway missed out on the stock market's rally

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warren buffett close up
Warren Buffett.

REUTERS/Rick Wilking

The Arnaults are betting big on K-Pop, and it shows the power of South Korea's luxury spending machine

Tech Insider
Jimin from BTS attends the Dior Homme Menswear Fall-Winter 2023-2024 show as part of Paris Fashion Week on January 20, 2023 in Paris, France.
BTS singer Jimin at Dior's fashion show in Paris on January 20.

Stephane Cardinale - Corbis/Corbis via Getty Images

Investors are piling the most cash into European stocks in nearly as year as recession outlook fades

Tech Insider : Economy
A Louis Vuitton store on Bond Street in London, United Kingdom, an area lined with luxury stores.
A Louis Vuitton store on London's Bond Street, an area lined with luxury stores.

Mike Kemp/In Pictures via Getty Images

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