In the Bag: Chanel and Hermes are Recession Proof

Some time ago, I was working on a magazine cover shoot and the good people at Chanel office in Hong Kong, sent across a few accessories on loan for the day. While we went on location, Tasha Ling, my most frequent collaborator, stylist, art director, placed the bags in its own seat. The sort of reverence most in fashion have for the (overused expression-) iconic brand. If ever I've seen something handled with white gloves LITERALLY, it's the range of accessories from the Parisian house.  

Chanel (and Hermès!) have demonstrated remarkable resilience and pricing power in a challenging luxury market, particularly in Greater China, even as many peers face stagnation or declines.

Over the past five years, Chanel has aggressively raised prices on its iconic handbags. A medium Classic Flap, which retailed around US$5,800–$6,500 in 2020–2021, reached approximately US$11,300 by 2025, representing a near-doubling (roughly 90–100% increase depending on exact timing and market). Further modest hikes (4–5%) continued into 2025–2026, with the medium Flap hitting US$11,300–$11,700+ in the US/Europe. Chanel cites rising costs, craftsmanship, and exclusivity, positioning bags as investment pieces akin to fine jewelry.

This strategy has paid off amid broader luxury slowdowns in China post-pandemic, driven by economic pressures and shifting consumer sentiment. While many brands saw double-digit declines, ultra-luxury names like Chanel and Hermès retained stronger demand among high-net-worth buyers seeking timeless status symbols. Jing Daily has noted Chinese consumers prioritizing “dream bags” from Chanel and Hermès over more accessible or trendy labels.

Chanel’s 2025 results highlight this outperformance. The company reported revenues of US$19.3 billion (up 2% from 2024’s $18.7 billion dip), with operating profit rising 5%. Asia-Pacific (nearly half of sales) was roughly flat to slightly down (-0.6% to -0.8%), but Mainland China, Hong Kong, and Taiwan turned positive in Q4 2025, with momentum into 2026. Investments in Shanghai’s Plaza 66 and Hong Kong boutiques underscore commitment to the region. US demand led growth (+7.2%).

Hermès similarly outperforms, fueled by ultra-high-net-worth Chinese buyers, controlled supply, and experiential retail. Jing Daily coverage emphasizes its resilience in Greater China despite sector headwinds.

In contrast, broader luxury groups (e.g., LVMH, Kering) reported softer or negative growth in China/HK amid cautious spending. Chanel and Hermès benefit from scarcity, heritage, and aspirational pull—qualities that sustain pricing power and resale value even as entry-level luxury cools. BOF and Jing Daily analyses position them as winners in a recalibrating market, where exclusivity trumps volume.

While sustained price hikes risk alienating some buyers (with occasional quality or “exploitative” critiques in Chinese discourse), strong HNW demand and strategic Asia investments suggest continued strength for these maisons in Hong Kong and Mainland China.

Menswear shoot with Nicolas P: Pheres at Lane Crawford

 

Do you have to like the designer to like their clothes? Well, if you do, I loved working with Narcisa Pheres  - this shoot of menswear from her brand. Available at Lane Crawford. 

Interview with Narcisa in the archive. 

Model Nicolas P. Friend of a friend... 

How this industry works. For suiting brands and to showcase 'quiet luxury', always look for gentlemen who look the part. Nico's bril. 

My moment of zen: Happy Weekend

 

Mom's koi poind in Kerala. 

The Art of Wellness magazine launches in Hong Kong: Today! + Top Ten Health and Wellness Publications in Asia

On May 28, 2026, The Art of Wellness makes its debut in Hong Kong with cover star Siwon Choi and a compelling cover story, "From Stage Lights to Serenity," signaling a fresh addition to Asia’s wellness media landscape. 

This new magazine has set out to blend science, mindfulness, travel, beauty, and longevity into an accessible, holistic narrative. Early articles like "Longevity Decoded," "The Search for Sleep," "Where Science Meets Sanctuary," "Calm by Design," and "Conscious Beauty Starts With Energy," all highlight its focus on evidence-based insights fused with mindful living. Categories span Body + Mind, Food + Travel, Beauty, Heart + Soul, and Conversations, positioning it as a thoughtful guide for modern well-being. 

The Art of Wellness enters a competitive yet evolving space and is not alone in the market or newsstands. Liv Magazine stands as the city’s longstanding wellness pioneer and trusted print/digital voice, known for healthy dining, fitness, eco-friendly living, and its popular Wellness & Lifestyle Awards. 

Other players include WELL, Magazine Asia (a digital impact-lifestyle portal emphasizing people, planet, and purpose), Forest Magazine HK, and broader lifestyle sites like Lifestyle Asia or Timeout Hong Kong’s wellness guides. 

Asia Spa, once a dominant regional title focused on luxury spas and travel, appears less active in its original form today, with the market shifting toward broader digital and hybrid content. Competitors like Compare Retreats and Destination Deluxe (both Hong Kong-based) lean heavily into luxury retreats and travel. 

Top 10 Wellness Magazines/Platforms in Asia 

(approximate, based on prominence):

1. AsiaSpa (regional luxury/spa focus) * 
2. Liv Magazine (HK’s wellness staple)
3. Destination Deluxe (Hong Kong, luxury retreats)
4. Compare Retreats (Hong Kong, expert wellness travel)
5. WELL, Magazine Asia (HK digital impact)
6. SpaChina or regional editions
7. Organic Spa Magazine (international with Asia reach)
8. GlobalHealth Asia-Pacific
9. LuxuryWellness (India-focused but regional)
10. Jetsetter or similar luxury travel-wellness hybrids * 

Even in the above list, half the titles are either on hiatus, closed shop or no longer carry the weight they once purported to. 

The Art of Wellness differentiates itself through its balanced integration of science-backed longevity and daily practices (e.g., breathing techniques, strength training, singing for health) with cultural and travel-inspired serenity. 

While Liv excels in local awards and community, and AsiaSpa targeted high-end spas, this newcomer feels more contemporary—artful, reflective, and data-informed—appealing to busy professionals seeking depth beyond luxury or quick tips. Its launch timing aligns perfectly with growing interest in proactive, holistic health across Asia. Backed with the team that once launched Prestige magazine and then went on to create the juggernaut that is #Legend, there's genuine interest in the market for a new title hitting an otherwise oversaturated market of competing (for attention, ad space, influence!) fashion and society glossies. 

With strong digital potential and thematic richness, The Art of Wellness could carve a unique niche, inspiring readers to move from performance to presence in one of the world’s most dynamic wellness markets. 

An entire catalogue, 36 looks: Shot in One day!

 

The right photographer, model, hair and makeup team, stylist, location and... will power. An entire catalogue shoot done on time - and more imporantly in budget.

The side hustle... 

Repost: New Punjab Club in HK: Star-Spangled, Spice-Soaked, and Gloriously Confused About Its Own Identity

Originally written circa 2022. Reposting because the food was then - and presumably remains -extraordinary. Some things deserve a second airing. This is one of them.

-- Rama  

There is a particular kind of audacity required to open a restaurant in Central Hong Kong, seat only twenty people, insist your kitchen produces the finest cuisine of the Punjab - and then, with a straight face and a beautifully typeset press release, tell journalists it is Pakistani food.

Reader, it is not Pakistani food. Not primarily. Not really. Not if you've eaten in Lahore or Karachi or been to a Pakistani home kitchen where the flavours lean leaner, the spicing more restrained, the meat preparations closer to Central Asian influences than the buttery, tandoor-fired abundance of the Indian subcontinent's northwestern breadbasket. But we will come back to this. We always do.

New Punjab Club opened in 2015, tucked into Wyndham Street, Central - that strip of Hong Kong real estate that seems permanently committed to housing restaurants for people who've already decided they're having a good evening before they've even sat down. The restaurant is the brainchild of founder Syed Asim Hussain, the man behind the Black Sheep Restaurants group, who also happens to have personal ties to the space: his father's restaurant, The Mughal Room, once occupied the same address. There is something poetically appropriate about that - history literally cooked into the walls. 

The concept was ambitious, even a little mad. Punjabi cuisine - proper, unapologetically robust Punjabi cuisine - elevated to fine-dining standards in one of Asia's most competitive restaurant cities. Twenty seats. A tandoor as the beating heart of the kitchen. A wine cellar with serious intent. And a bar program that quietly became one of the best whisky lists in Hong Kong. (The whisky-with-spiced-food pairing is, it should be noted, not a gimmick. It works. Magnificently. Your cardiologist would disagree, but your cardiologist isn't at the table, and long may that last.) 

The rave reviews came quickly, and they came loudly. Broadsheets and glossy magazines fell over themselves. Food writers who had spent years dismissing subcontinental cuisine as inherently "casual" found themselves reassessing. And then, in 2019, Michelin confirmed what the dinner queue already knew: New Punjab Club became the world's first Punjabi restaurant to receive a Michelin star. The first. In the world. Sitting in Hong Kong, which already has more Michelin stars per capita than almost anywhere on the planet, including France. A detail that never gets old. The star has been retained every year since. Four consecutive years, at the time of this writing. 

The chefs responsible - and here is where the Pakistani branding gets genuinely, lovingly complicated - are Palash Mitra and Chhabil Sidhu. Two Indian chefs. From the subcontinent's Indian side of the partition line. Cooking food the PR team is at some pains to label Pakistani. Doing so brilliantly. Now look, I am not here to adjudicate the politics of partition at the dinner table. I am here to eat. But the identity question deserves more than a dismissive wave, because it illuminates something fascinating about what Punjab actually is. 

The Punjab, land of five rivers, was, before 1947, a single region. Then the Radcliffe Line cut through it with the blunt efficiency of a man who had never been there and had six weeks to draw a border. Lahore went to Pakistan. Amritsar stayed in India. Families divided. Recipes did not. The tandoor techniques, the mustard-laced winter greens, the slow-cooked lamb of the Mughal court, the dairy excess (the butter, the ghee, the cream, always the cream) - these belonged to a geography, not a passport. So what is distinctively Pakistani food, as opposed to Indian food from the Punjab? 

The honest answer involves nuance that marketing departments rarely survive. Pakistani cuisine, broadly, draws on the same Mughal inheritance but layers in Central Asian and Persian influences more heavily - the pilaus and pulaos lean toward Afghan-style rice preparations, the kebab traditions echo Turkish routes through the old Silk Road, the seasoning tends toward cardamom and dried fruits over fresh chilli heat, the meat often lamb or beef where the Indian side might reach for chicken. Pakistani Punjabi cooking specifically favours the spit and the slow braise; it is less enamored of the intense dry-heat tandoor than its Indian counterpart, and the butter chicken - that totemic dish the world associates with "Indian food" - is almost certainly a post-partition invention from the Indian side, specifically from a Punjabi refugee family in Delhi. You know, the capital of... 

At New Punjab Club, the tandoor is everything. Which tells you something. What Chefs Mitra and Sidhu do - did, at the time of this meal - is not fraudulent. It is, if anything, more honest than the branding: they cook the food of an undivided Punjab, drawing on Mughal-era recipes and the deep agricultural tradition of one of the subcontinent's great grain-growing, dairy-producing, food-obsessed regions. If that food happens to geographically straddle the modern border and be claimed by both nations with equal ferocity, well. Cuisine does not stop at checkpoints. 

The menu that greeted our party of self-appointed critics - assembled, as is the custom, with the express purpose of eating too much and arguing about it afterwards, was a document of serious intent. The tandoor section alone could sustain a review. The Malai Tikka arrives as something close to a revelation: the restaurant's preferred local three-yellow chicken, brined for a day, then marinated in soft cheese, yoghurt, green chilli and yellow chilli powder before the tandoor works its alchemy. The result is chicken that has surrendered all of its moisture to flavour and none of its flavour to the process. It is, to use the technical term, ridiculously good. The Matka Murghi, the same three-yellow chicken sealed into a clay pot with safri spices, root vegetables and shallots and then left overnight in the residual heat of a cooling tandoor - produces a stew of such gentle, fragrant depth that you begin to understand why the process has survived for centuries. This is not a chef showing off. This is a chef respecting what time and indirect heat can accomplish that nothing else can. Pre-book it. I say this with the urgency of someone who has watched a companion be turned away from this dish: just pre-book it. 

The Nashta section (street food but seriously elevated!) deserves its own small ceremony. The Tamatar Ki Chaat, made famously without onion or garlic (a cooking constraint that is itself a kind of culinary discipline, like a painter restricting their palette), uses heirloom tomatoes blushed in the tandoor and Pink Fir potatoes cooked overnight in the slow ovens. The result is something that tastes both utterly familiar and completely refined. And the Makki Di Roti with Sarson Da Saag (griddle-cooked corn flatbread scooping up mustard greens and date jaggery), is a dish so embedded in Punjabi identity (specifically the Lohri festival, celebrated across the Punjab on both sides of the border in January, with bonfires and folk songs and the particular joyfulness of a people who have survived another winter) that eating it in this room, with these prices, in Hong Kong, feels like time travel.... with better lighting and aspirational art framed at every visible space. 

Then, there's the room itself. Twenty seats, as promised. It harkens to the era of post-colonial Punjab with the nostalgic flair of someone who genuinely loves that aesthetic rather than someone who hired a production designer to fake it. Old world charm is an overused phrase. Here, it earns usage. We rolled out into the Hong Kong rain, into one of those soaked taxis that smell of upholstery, stale beer and ambition, collectively bloated and arguing the question we always argue: why doesn't subcontinental fine dining get the respect it deserves? 

The answer involves decades of Western food media's class coding of "ethnic" cuisines, the assumption that complexity and refinement belong to European traditions, and a generalized failure of imagination that Michelin, to its credit, has begun to correct. 

One star. Four years running. Twenty seats. The world's first. The branding may tell you it is Pakistani. The chefs are Indian. The food is Punjabi, which, if you know your history and your geography and have paid attention to the past several paragraphs, is simply: yes. All of the above. And then some. Go. Take someone you want to impress. 

And perhaps, just perhaps, let the food be the thing that doesn't require a border. 

New Punjab Club
34 Wyndham Street, Central, Hong Kong.
Reservations via www.newpunjabclub.com. 

Words and Images: P.Ramakrishnan 
The images have been AI modified, enhanced, sharpened from original phone pics! 

Failing updwards: A Case Study of Ibrahim Ali Khan: A Follow-up Feature

In the wildly incestuous ecosystem of Bollywood, where lineage often outweighs early missteps, Ibrahim Ali Khan stands as a compelling case study in... failing upwards. 

Born in 2001 to actor/royal Saif Ali Khan and actress Amrita Singh, the young actor carries the weight - and the privileges- of royal Pataudi heritage mixed with cinematic royalty. With chiseled features, contrived charm, and a “modern prince” aura, he has secured magazine covers, brand visibility, and red-carpet invites that many long working actors with solid filmographies can only envy and  fail to replicate as the gatekeepers (visible and invisible)  keep ordinary (looking!) newcomers at bay. The plethora of magazine covers and media coverage and popularity on social media reeks of success... Khan's on-screen track record so far tells a different story, not of glory but of failures: two back-to-back OTT releases in 2025 met with poor to God-awful reviews, limited commercial impact, and public scrutiny over his acting range and a notable lisp--no shade-- that's screwing up dialogue delivery in comical ways, Khan's on the verge of going the Deepak 'Palo' Malhtora [Lamhe's ignoble faultline] way. But for his Khan-daan... he's got a palatial roof over his head.  

Ibrahim’s formal entry came with Nadaaniyan (March 2025, Netflix), a light romantic drama opposite illustrious Sridevi's progeny, Khushi Kapoor. Directed by Shauna Gautam under Karan Johar’s banner, the film arrived amid heavy pre-release buzz fueled by star-kid curiosity. Critics and audiences were largely unimpressed, which is putting it mildly: dialogue delivery felt stiff, emotional depth and resonance seemed shallow, and the overall product labeled frivolous, one of Netflix India’s weaker, if not weakest, offerings in years. Sure there are worse reality TV shows in the offing, but they are not aspiring to reach a high-bar.  

Ibrahim himself later described it candidly as “a really bad film,” admitting he had stepped into the industry thinking “ho jaayega” (it’ll happen). He acknowledged not taking the craft for granted and learning from the setback, according to an interview he did with Times of India. If the writing was on the wall, he clearly read it. Perhaps no long living in the ivory tower, he came tumbling down the marble staircase.  

Then, just months later, in July 2025, came Sarzameen, an action-thriller directed by Kayoze Irani [Boman Irani's son... sigh] for Dharma Productions and Star Studios, co-starring heavyweights Kajol and Prithviraj Sukumaran. Sidenote, two other "nepo babies" who found footing based on talent and years, and years of hard work. 

Ibrahim played the son in a patriotic family drama. While some noted marginal improvement and called it a step up from his debut, reviews remained middling at best -- praised sporadically for screen presence but criticized for below-average performance and lack of impact. Yet again. The film failed to generate sustained buzz or strong numbers, adding to the “flop” narrative despite its stalwart star support. 

Yet here lies the fascination of Ibrahim’s trajectory. In an industry that can be brutally meritocratic for outsiders but forgiving for insiders who get repeated opportunities, he has not been sidelined. Instead, the discourse around him thrives on potential rather than proven results. His visual appeal -- often described as chocolate-boy meets regal sophistication -- has translated into an enviable presence on glossy pages and newsstands. He has graced covers and features for Esquire India, Filmfare, GQ India, and several other still existing print magazine and digital covers, frequently highlighted for his style, poise, and the effortless “Pataudi prince” vibe. Its a phrase that comes up often.  

Sifting through dozens of recent magazine covers, having covered media for long, a thought percolates - do you know how long it took before Ranveer Singh could get a solo cover?! How long it took Anushak's team to fight to get a Cine Blitz solo cover?! Earned magazine real estate versus inherited access, its a tiresome debate that bears repeating; Bollywood doesn't seem to learn its lessons. 

Fashion shoots, ramp walks, and lifestyle spreads have kept him in the public eye far more prominently than his modest film output might suggest. 

Awards recognition has followed a similar glamour-heavy pattern. In 2025, he picked up wins and appearances at events such as the Filmfare Glamour and Style Awards and ELLE Beauty Awards, categories that celebrate aesthetics, fashion influence, and emerging star power rather than acting prowess--had it been the 90s or early oughts, he would have won Best Newcomer awards and Best Supporting nominations; Fardeen Khan won best debut! Twinkle Khanna won some pointless trophy too-- presented predictably by her father Rajesh Khanna no less. 

No major performance trophies for his lead roles have materialized yet-- a reminder that critical acclaim has lagged behind the hype, that even the most sycophantic of magazine editors and publishers, could now kowtow to sponsors and TRP by awarding popular but talentless star kids. 

Commercially, the numbers paint a picture of inherited advantage meeting calculated visibility. Estimates place his net worth in the ₹20–25 crore range (roughly $2.4–3 million USD), built on family backing, pre-debut endorsements, and the premium Bollywood places on star progeny. 

Brand deals lean into his youthful, premium-lifestyle image: fashion campaigns, lifestyle collaborations, and youth-oriented promotions that capitalize on his looks and social currency. While specific high-value contracts remain discreet, his positioning allows him to command fees that newcomers without pedigree rarely see--even before delivering a hit. Far be it from us to deny a man his right to work, but the rates and remuneration offered to the "nepo babe" is a different tax bracket from those auditioning today. 

On social media, Ibrahim (@iak on Instagram) maintains around 1.5 million followers [as we go to publish]. His feed mixes sleek fashion editorials, film promotions, and personal glimpses, drawing engagement rooted in curiosity and aspirational appeal. Comments sections often blend admiration for his style with pointed critiques of his performances, reflecting the polarized conversation surrounding him. Here's the fun part of social media algorhythm; if you comment with admiration or troll, either way, he benefits as engagement (positive or negative), helps him out. In that happy marriage of narcissism and voyeurism, he benefits greatly. 

This disconnect, modest screen success paired with sustained industry and media interest, exemplifies “failing upwards” in contemporary Bollywood. Nepotism debates flare regularly, yet the system continues to invest in certain bloodlines, betting that exposure, grooming, and the right project will eventually click. Ibrahim has shown self-awareness in interviews, requesting “one more chance” from audiences and expressing confidence that he knows how to act when given proper material and direction. He has spoken of sitting with scripts more carefully this time and trusting experienced hands to showcase him better. 

That next opportunity arrives with Diler, his anticipated theatrical debut. Produced by Dinesh Vijan’s Maddock Films and directed by Kunal Deshmukh (Jannat), the sports drama revolves around a marathon runner theme and co-stars South Indian actress Sreeleela. Shooting has progressed, including schedules in London, with behind-the-scenes glimpses signaling a more focused effort. Expected around mid-2026, Diler represents a make-or-break moment: a big-screen canvas, a genre with emotional and physical scope, and a director known for launching or reviving careers. Ibrahim has voiced a “good feeling” about the project, suggesting he sat on the script and believes the team can present him effectively. 

He has also teased interest in working with veteran Gajraj Rao, hinting at a desire to diversify and learn alongside seasoned talent.

Ultimately, Ibrahim Ali Khan’s story is less about immediate triumph and more about the machinery of fame in a star-driven industry. Critics question whether charm and lineage can compensate for acting depth; supporters point to his youth, willingness to reflect on failures, and the long runway star kids often receive. Khan attacking a critic on Social Media DMs got him even worse press than his reviews, a mea culpa on that has yet to materialise. Reminds us of young, fiery Saif Ali Khan who also attacked journalists in the early 90s when he felt criticism was getting personal, not professional (to a certain degree we agree with that, criticise his work, not his family!). 

Instant judgment via social media and streaming metrics, young Khan has to navigate a delicate balance: not absorbing trolling while leveraging visibility to stay relevant. Whether Diler delivers the breakthrough or becomes another chapter in the same narrative, one thing remains clear- Ibrahim is not disappearing from the conversation. For now. 

Bollywood has long specialized in second (and third) acts for its favoured sons. The question is whether this particular prince can convert royal privilege into on-screen reign. For now, he remains a magnetic paradox: consistently reviewed yet continually covered, critiqued yet courted, still climbing even as the early steps falter. After every fall, he's chosen to get up on the horse - yes, that is a clumsy  Polo sport reference - and despite two penalties, he's hoping to score a goal.