World’s Oil Capital Saudi Arabia Gears its Transitioning into EVs
-The world’s largest oil-exporting nation, Saudi Arabia, aims to spend over $9 Billion to manufacture and export over 150,000 EVs in 2026.
Arab world’s biggest economy, Saudi Arabia is gearing up to launch its first electric vehicle brand “Ceer”.
The country’s prime minister and Crown Prince Mohammed bin Salman recently announced the plans as part of the long list of initiatives supporting his Vision 2030 plan aimed at reducing the country’s dependence on oil.
The launch of Ceer is in line with the Kingdom’s strategy to focus on unlocking the capabilities of promising sectors locally that can help drive the diversification of the economy and help achieve the objectives of the ‘Vision 2030’.
The oil-rich nation isn’t going it alone with the launch of Ceer.
The new EV brand is a joint venture between the PIF and Taiwanese contract manufacturer Foxconn.
Saudi Arabia’s national oil company, Aramco,
is also working with Formula 1 to develop a 100% sustainable fuel to be introduced to the motorsport in 2026.
“Louis Vuitton is putting on its chef hat.”
Set to Plate its first Meal in the Chinese Market
The crown jewel of the world’s largest luxury group,
Louis Vuitton has journeyed to Chengdu- a major retail hub and a ‘tier-1-city’ in the southwestern region of China to open its first-ever restaurant.
Louis Vuitton’s glamorous restaurant, ‘The Hall’, is situated in a mixed-development property called Sino-Ocean,
perched alongside the brand’s flagship store to create a rich experience, and localizing it for Chinese culture while retaining the brand’s proud European heritage.
It is worthy to note that Louis Vuitton stepped into the culinary world in 2020 with a café and restaurant in Japan,
before expanding its retail chain to South Africa and France.
The brand sure knows how to find its way into the hearts of Chinese consumers through food.
‘The Hall by Louis Vuitton’ has joined China’s full-service restaurant market, which Global Data forecasts to expand from an estimated $558.1 billion in 2022 to $719.8 billion by 2026.
LV has clearly hit the mark as the restaurant is reportedly booked out for six months.
This is not surprising as the growing purchasing power of Chengdu’s consumers has been attracting luxury brands to the first-tier city.
Patrón enters prestige tequila category with ‘Patrón El Alto’
-The latest top-shelf release from the legendary distiller was aged in 11 different types of barrels over 4 years.
Patience is but one key ingredient in the spirits world, and the more patience behind the process,
the better the yield especially when the goal at hand is an ultra-premium tequila that looks to take the category to new heights.
The result is a superstar of a prestige tequila expression that sells for $179 A pop,
one that was recently launched at a glamorous Las Vegas event featuring a performance by longtime Patrón fan Missy Elliott an event that marked her first time onstage in three years to talk about a toast-worthy celebration.
Beyond its impressive launch and its illustrious presentation, the tequila’s rare ingenuity and artistry demonstrates a pinnacle of perfection,
enough to wow a legion of devoted and new-found fans of Patrón.
Patrón is one of the few brands that still make tequila by hand, a time-consuming process that has been used since the company’s inception.
Most of Patroń El Alto’s products are innovative and impressively rare in the industry.