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French authorities are increasingly auctioning off bags, watches and other luxury goods seized from criminals.
French authorities are increasingly auctioning off bags, watches and other luxury goods seized from criminals. © Studio Pachamama

Spotlight | France
Luxury firms' backstage manoeuvring in French state auctions of seized goods

To put pressure on luxury brands and force them to keep closer tabs on who they sell to, French authorities are increasingly auctioning off bags, watches and other luxury goods seized from criminals. Such sales are disastrous for brand image, exposing the sector's dirty underbelly. But behind the scenes brands grudgingly lend their expertise and even buy back certain items to prevent counterfeits or rare pieces going back into circulation.
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As discreet as he is influential, Divesh Makan manages and reinvests the fortunes of Silicon Valley billionaires.
As discreet as he is influential, Divesh Makan manages and reinvests the fortunes of Silicon Valley billionaires. © Studio Pachamama

Front Row | United States
Divesh Makan, the wealth manager who engineered the split between LVMH and Stella McCartney

A director at Stella McCartney, Makan helped pull off the move to buy back LVMH's stake in the brand. The South African is also very close to Louis Vuitton creative director Pharrell Williams. His Iconiq fund manages the assets of a host of Hollywood stars who front luxury brands, as well as leading Silicon Valley executives.
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