The IRS Has a Name for Those Bags and Shoes that Fashion Calls Gifts, "Income"

It is no coincidence that many-a-fashion-industry-insider is Instagramming Chloe’s “C” bag at the moment, or a Dior Saddle Bag or Louis Vuitton x Grace Coddington collab bag not too long ago, or before that a t-shirt bearing the new Peter Saville-designed Burberry logo, or the Chanel cap-toe sling backs, etc. “Nearly every brand sends gifts to editors,” Racked noted back in 2017. Look beyond traditional editors to influencers are the same can be said of the countless handbags and footwear that brands bestow upon influencers each seasonin an effort to induce spending by these followers of these highly-followed figures.

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LVMH Chairman Bernard Arnault Overtakes Warren Buffett on "World's Richest" List

There is always a big-money battle underway at the top of the Forbes food chain. The publication’s ever-slightly-ebbing “World’s Richest” list, where the likes of Jeff Bezos, Bill Gates, Warren Buffett, Bernard Arnault, and Carlos Slim hold court, saw a new bout of activity on Wednesday. Bernard Arnault, the chairman of LVMH Moët Hennessy Louis Vuitton, jumped from the number 4 position to number 3, thereby, ousting 88-year old American business magnate Warren Buffett. 

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