1 00:00:04,040 --> 00:00:08,360 Speaker 1: Broadcasting live to New York, Bloomberg eleven willo to Washington, 2 00:00:08,440 --> 00:00:13,480 Speaker 1: d C. Bloomberg to Boston, Bloomberg twelve hundred to San Francisco, 3 00:00:13,600 --> 00:00:17,120 Speaker 1: Bloomberg ninety to the country. He is at Damn General 4 00:00:17,160 --> 00:00:20,520 Speaker 1: one nine and around the globe the Bloomberg Radio Plus 5 00:00:20,640 --> 00:00:24,800 Speaker 1: David Bloomberg got gone. This is taking Stock. Coming up 6 00:00:24,800 --> 00:00:28,760 Speaker 1: on taking Stock is health and wellness the new luxury 7 00:00:29,040 --> 00:00:33,159 Speaker 1: market right now. The health and wellness market is dominated 8 00:00:33,159 --> 00:00:36,479 Speaker 1: by beauty and anti aging products sales, as well as 9 00:00:36,520 --> 00:00:39,760 Speaker 1: fitness as well as mind and body exercise routines. We're 10 00:00:39,760 --> 00:00:42,280 Speaker 1: gonna talk with Stephen Colvin. He is the chief executive 11 00:00:42,280 --> 00:00:44,479 Speaker 1: of the Robb Report. Get a look into the future 12 00:00:44,840 --> 00:00:47,479 Speaker 1: of luxury. We're going to get a peek at the 13 00:00:48,680 --> 00:00:53,000 Speaker 1: annual list of Best of the Best award winners. He's 14 00:00:53,000 --> 00:00:56,000 Speaker 1: certainly one of the best the best. Parrot Bloomberg Radio 15 00:00:56,080 --> 00:00:57,920 Speaker 1: Charlie Pellett is in the US room with the Bloomberg 16 00:00:57,960 --> 00:01:01,080 Speaker 1: Business Flash. I thank you very much, and good afternoon. 17 00:01:01,120 --> 00:01:03,680 Speaker 1: Once again, we've got the down lower right now down 18 00:01:03,720 --> 00:01:07,199 Speaker 1: by seven points the SMP NASTAC they're both trading higher 19 00:01:07,280 --> 00:01:10,319 Speaker 1: SMP five hundred index uple point now at two thousand 20 00:01:10,440 --> 00:01:12,560 Speaker 1: ninety two. That is a gain of point one percent. 21 00:01:12,880 --> 00:01:15,600 Speaker 1: NAS stack up twelve, a gain there of three tents 22 00:01:15,600 --> 00:01:17,720 Speaker 1: of one percent. We are brought to you by b 23 00:01:17,959 --> 00:01:22,160 Speaker 1: n y Melon proudly introduces Assets Strategy View, a game 24 00:01:22,280 --> 00:01:25,800 Speaker 1: changer for asset managers and asset owners. Visit b n 25 00:01:25,920 --> 00:01:30,280 Speaker 1: y melon dot com to learn about Asset Strategy View. 26 00:01:30,440 --> 00:01:33,560 Speaker 1: Stocks are fluctuating as the SMP five hundred index stalls 27 00:01:33,600 --> 00:01:37,040 Speaker 1: just below the twenty one dollar level. Brent crude pairing 28 00:01:37,120 --> 00:01:40,240 Speaker 1: gains after surpassing fifty dollars a barrel for the first 29 00:01:40,280 --> 00:01:43,319 Speaker 1: time in six months. Right now, we've got crewed at 30 00:01:44,319 --> 00:01:47,280 Speaker 1: three talking about West Texas Intermediate down twenty four cents 31 00:01:47,480 --> 00:01:50,840 Speaker 1: but dropped there of point five percent, Brent forty five 32 00:01:50,840 --> 00:01:53,880 Speaker 1: a barrel down six tenths of one percent. Time owner 33 00:01:53,960 --> 00:01:57,040 Speaker 1: shares trading higher after the financial time set. A top 34 00:01:57,080 --> 00:02:01,440 Speaker 1: Apple executive raised the prospect of buying the own of HBO, CNN, 35 00:02:01,480 --> 00:02:04,800 Speaker 1: and Warner Brothers last year. Gene Munster is senior research 36 00:02:04,800 --> 00:02:08,040 Speaker 1: analysts at Piper Jaffrey. If they go down this road 37 00:02:08,080 --> 00:02:10,680 Speaker 1: in due time, Warner, that doesn't solve the problem. If 38 00:02:10,680 --> 00:02:12,519 Speaker 1: they go and buy more than Time Warner and the 39 00:02:12,600 --> 00:02:15,040 Speaker 1: content then it starts to make more sense if they've 40 00:02:15,040 --> 00:02:19,080 Speaker 1: got a broader UH content acquisition strategy. The challenge they'll 41 00:02:19,080 --> 00:02:21,800 Speaker 1: have with that, though, is there's anti trust issues that 42 00:02:21,840 --> 00:02:24,639 Speaker 1: will kick in if they really want their money is 43 00:02:24,680 --> 00:02:28,280 Speaker 1: better spent at paying up for licensing a broad range 44 00:02:28,280 --> 00:02:31,800 Speaker 1: of content. In our opinion, Abercrombie and Fitch plunging after 45 00:02:31,880 --> 00:02:35,679 Speaker 1: first quarter sales trailed analysts estimates. Abercrombie and Fitch took 46 00:02:35,680 --> 00:02:39,880 Speaker 1: her a n F down seventeen point three percent and 47 00:02:39,960 --> 00:02:42,360 Speaker 1: now at two on Wall Street. Let's take a look 48 00:02:42,400 --> 00:02:45,919 Speaker 1: at other news from around the world. Charlie, Thank you 49 00:02:45,960 --> 00:02:48,840 Speaker 1: from the Bloomberg news Room. I Mark Crumpton. This news 50 00:02:48,880 --> 00:02:51,519 Speaker 1: update is brought to you by the jeep Grand Cherokee, 51 00:02:51,600 --> 00:02:55,520 Speaker 1: the most awarded suv ever. The Grand Cherokee continues to 52 00:02:55,600 --> 00:02:59,440 Speaker 1: raise the bar with its luxurious interior and legendary four 53 00:02:59,520 --> 00:03:02,800 Speaker 1: by four or capability drive one. That's our local jeep 54 00:03:02,840 --> 00:03:06,760 Speaker 1: dealer today. The Republican presidential nomination is in hand for 55 00:03:06,840 --> 00:03:10,200 Speaker 1: billionaire Donald Trump on the horizon the selection of a 56 00:03:10,320 --> 00:03:13,280 Speaker 1: running mate. At a news conference today in North Dakota, 57 00:03:13,360 --> 00:03:15,920 Speaker 1: Trump said he expects women to be vetted for the 58 00:03:16,000 --> 00:03:21,240 Speaker 1: vice presidency. We're looking for absolute competence. I fully expect 59 00:03:21,320 --> 00:03:24,720 Speaker 1: that we will have many women involved with not on 60 00:03:24,840 --> 00:03:26,960 Speaker 1: Lammy and I've had it with the campaign, but we're 61 00:03:26,960 --> 00:03:29,520 Speaker 1: gonna have many women involved. And I think that you're 62 00:03:29,520 --> 00:03:31,280 Speaker 1: gonna see that, and you're gonna see that very strong. 63 00:03:31,560 --> 00:03:35,000 Speaker 1: Trump also said he'd be willing to debate Democratic presidential 64 00:03:35,040 --> 00:03:38,680 Speaker 1: candidate Bernie Sanders. A Rocks Prime minister, is appealing to 65 00:03:38,760 --> 00:03:43,320 Speaker 1: citizens to postpone weekly Friday protests so that security forces 66 00:03:43,360 --> 00:03:47,080 Speaker 1: can focus on a key military operation aimed at retaking 67 00:03:47,080 --> 00:03:50,720 Speaker 1: the city of Fallujah. Pentagon Press Secretary Peter Cook says 68 00:03:50,760 --> 00:03:54,120 Speaker 1: the battle against Islamic State will take some time. Again, 69 00:03:54,200 --> 00:03:56,800 Speaker 1: this is a fight that we expect could take some time, 70 00:03:56,800 --> 00:04:00,000 Speaker 1: but a key priority for the Iraqis and UH that priority, 71 00:04:00,040 --> 00:04:02,119 Speaker 1: of course, they were supporting as part of the coalition. 72 00:04:02,360 --> 00:04:06,080 Speaker 1: For months, anti government demonstrators have been holding protest every 73 00:04:06,080 --> 00:04:10,320 Speaker 1: Friday outside bag Dad's heavily fortified green zone to demand reform. 74 00:04:10,880 --> 00:04:13,760 Speaker 1: The NYPD is planning to step up enforcement of drunk 75 00:04:13,800 --> 00:04:17,600 Speaker 1: and driving and reckless driving laws with increased patrols this 76 00:04:17,720 --> 00:04:21,720 Speaker 1: Memorial Day weekend. Global News twenty four hours a day, 77 00:04:21,839 --> 00:04:25,360 Speaker 1: powered by our journalists in more than one hundred fifty 78 00:04:25,400 --> 00:04:28,400 Speaker 1: news bureaus around the world. From the Bloomberg News Room, 79 00:04:28,440 --> 00:04:31,800 Speaker 1: I'm Mark Crumpton, Charlie, and we thank you. We're looking 80 00:04:31,800 --> 00:04:34,039 Speaker 1: at a one point game now on the SMP five 81 00:04:34,120 --> 00:04:37,120 Speaker 1: hundred index. Little change there. The Dow also, little change 82 00:04:37,200 --> 00:04:41,400 Speaker 1: down seven points. I'm Charlie Pellett. That's a Bloomberg Business flash. 83 00:04:42,720 --> 00:04:45,719 Speaker 1: You're listening to taking stock with Kathleen Hayes and Pim 84 00:04:45,839 --> 00:04:50,520 Speaker 1: Fox on Bloomberg Radio. Global Luxury. The global luxury industry 85 00:04:50,640 --> 00:04:55,440 Speaker 1: is more than a trillion dollar business each year, and 86 00:04:55,480 --> 00:04:59,640 Speaker 1: there are various sectors inside this luxury business. Luxury cars, 87 00:04:59,720 --> 00:05:03,840 Speaker 1: luxury rehospitality, also personal luxury goods. Here to tell us 88 00:05:03,920 --> 00:05:07,480 Speaker 1: more about luxury and the borderless consumer is Stephen Colvin. 89 00:05:07,680 --> 00:05:10,720 Speaker 1: He is the chief executive of The Raw Report. Stephen, 90 00:05:10,720 --> 00:05:13,440 Speaker 1: thanks very much for coming and much appreciate it him. 91 00:05:13,480 --> 00:05:15,400 Speaker 1: Thank you so much for having me hide there. Kathleen, 92 00:05:15,600 --> 00:05:19,799 Speaker 1: great to be here. Let's launch into the Raw Report 93 00:05:19,880 --> 00:05:25,640 Speaker 1: because I know that it is celebrating its forty anniversary 94 00:05:26,000 --> 00:05:30,320 Speaker 1: and a lot has changed when it comes to luxury, right, yes, yes, 95 00:05:30,560 --> 00:05:33,920 Speaker 1: tell us about the trends that have been revealed by 96 00:05:34,000 --> 00:05:39,000 Speaker 1: your newest Luxury Report, Well, I mean trends are that 97 00:05:39,120 --> 00:05:42,039 Speaker 1: you know, there's no question that there's more affluent people 98 00:05:42,200 --> 00:05:45,039 Speaker 1: in the world generally, and the number of people who've 99 00:05:45,040 --> 00:05:49,920 Speaker 1: got disposable incomes is increasing, including here significantly in the US. 100 00:05:49,960 --> 00:05:52,760 Speaker 1: So there's definitely mean you say, trends are changing and 101 00:05:52,800 --> 00:05:55,320 Speaker 1: this new kind of tenants like health and wellness coming 102 00:05:55,360 --> 00:06:00,839 Speaker 1: about increasingly importance and experiential generally, but the appreciation of 103 00:06:00,920 --> 00:06:04,680 Speaker 1: good craftsmanship and quality products, whether that be through fashion 104 00:06:04,800 --> 00:06:08,960 Speaker 1: or shoes, or watches, or fine wines or architecture automotives 105 00:06:08,960 --> 00:06:12,760 Speaker 1: obviously that is still a continuum in luxury during those 106 00:06:12,800 --> 00:06:16,040 Speaker 1: forty years. And really obviously with rob Report, we're about 107 00:06:16,120 --> 00:06:19,520 Speaker 1: you know, providing the insights to the best the best 108 00:06:19,600 --> 00:06:23,800 Speaker 1: of those products and services. But I would say, um, 109 00:06:23,839 --> 00:06:27,760 Speaker 1: you know, it's it's expanded beyond just the products, the 110 00:06:27,760 --> 00:06:30,919 Speaker 1: products of kind of front and center to the experiences 111 00:06:31,000 --> 00:06:34,760 Speaker 1: and the lifestyle and even the community that is associated 112 00:06:34,960 --> 00:06:38,279 Speaker 1: with that product or that brand, which is kind of interesting. 113 00:06:38,520 --> 00:06:41,599 Speaker 1: I think it's fascinating that it was founded in six 114 00:06:41,760 --> 00:06:44,000 Speaker 1: by a gentleman who wanted to sell his personal collection 115 00:06:44,000 --> 00:06:47,760 Speaker 1: of Civil War memorialia and Royal Stoice automobiles. It's had 116 00:06:47,800 --> 00:06:50,839 Speaker 1: a couple of owners since then. The latest change in 117 00:06:52,240 --> 00:06:56,000 Speaker 1: seems like you've really stepped up the raw report. As 118 00:06:56,040 --> 00:06:59,960 Speaker 1: you're saying, it's not just the report itself, it's it's 119 00:07:00,080 --> 00:07:04,640 Speaker 1: experiences and bringing more and more in. Uh, tell us 120 00:07:04,640 --> 00:07:07,120 Speaker 1: about what your your ultimate goal. I mean, if I could, 121 00:07:07,120 --> 00:07:09,520 Speaker 1: if I started reading all the companies or all the countries, 122 00:07:09,560 --> 00:07:12,800 Speaker 1: what you ever in eighteen reports? Well, what's your ultimate 123 00:07:12,840 --> 00:07:16,160 Speaker 1: goal for this? Well, we feel, I mean, luxury media 124 00:07:16,240 --> 00:07:19,840 Speaker 1: generally is increasingly global. The world is getting smaller, and 125 00:07:19,880 --> 00:07:22,800 Speaker 1: our goal is to be the number one or luxury 126 00:07:22,800 --> 00:07:25,360 Speaker 1: media property in the world on all platforms. Action. That's 127 00:07:25,360 --> 00:07:27,960 Speaker 1: a kind of grand statement, but it's certainly possible. We 128 00:07:28,040 --> 00:07:31,960 Speaker 1: are the number one luxury media property in many countries. 129 00:07:32,160 --> 00:07:34,040 Speaker 1: Those countries at the moment to span from obviously the 130 00:07:34,160 --> 00:07:39,240 Speaker 1: US to um Singapore, China, Russia, Brazil, et cetera. Stephen, 131 00:07:39,360 --> 00:07:41,520 Speaker 1: to what extent do you do you say we don't 132 00:07:41,560 --> 00:07:44,360 Speaker 1: we don't have to worry about anybody except the truly wealthy. 133 00:07:44,480 --> 00:07:47,240 Speaker 1: How much do you say we want the aspirational person 134 00:07:47,400 --> 00:07:50,760 Speaker 1: who maybe isn't the wealthiest, but it aspires to to 135 00:07:50,800 --> 00:07:53,120 Speaker 1: maybe just have that gorgeous watch, you know what I mean, 136 00:07:53,320 --> 00:07:57,320 Speaker 1: totally very very important that you know, the entry I 137 00:07:57,320 --> 00:08:01,320 Speaker 1: don't even the entry points or the the appreciation of 138 00:08:01,600 --> 00:08:05,280 Speaker 1: good craftsmanship isn't just about the very very expensive sports 139 00:08:05,360 --> 00:08:07,840 Speaker 1: car or private jet for that matter. It's about the 140 00:08:07,880 --> 00:08:11,640 Speaker 1: good nice watched um which maybe isn't the most expensive watch, 141 00:08:12,040 --> 00:08:16,240 Speaker 1: or the nice pair of shoes or the nice fashionable suits. 142 00:08:16,280 --> 00:08:18,520 Speaker 1: So yes, though that younger. I mean, there's a term 143 00:08:18,560 --> 00:08:21,760 Speaker 1: called Henry's high earners not rich yet. This is kind 144 00:08:21,760 --> 00:08:23,800 Speaker 1: of a new term that's kind of been bandied about, 145 00:08:23,960 --> 00:08:25,800 Speaker 1: and the Henrys and they're kind of you know, I'm 146 00:08:25,800 --> 00:08:28,320 Speaker 1: sure you can guess who those Henry's are. Probably quite 147 00:08:28,320 --> 00:08:30,760 Speaker 1: a few of them working here, you know, the thirty somethings. 148 00:08:30,800 --> 00:08:33,840 Speaker 1: They're confident, they're on the second or third run of 149 00:08:33,840 --> 00:08:35,880 Speaker 1: the career path. They know they're doing well. They've got 150 00:08:35,920 --> 00:08:38,960 Speaker 1: disposable income. They want to enjoy their hard work and 151 00:08:39,040 --> 00:08:41,920 Speaker 1: the remuneral that that it led to, the remuneration they're getting, 152 00:08:41,920 --> 00:08:44,600 Speaker 1: and they want to acquire that nice fashionable suit. They 153 00:08:44,600 --> 00:08:46,760 Speaker 1: want to go and stay in the first five star 154 00:08:46,840 --> 00:08:50,840 Speaker 1: hotel vacation that they've had and appreciate it. Health and wellness. 155 00:08:50,880 --> 00:08:53,840 Speaker 1: You've got a summit coming up July fourteenth to the seventeen. 156 00:08:54,240 --> 00:08:55,960 Speaker 1: Tell us who is going to be there and what 157 00:08:56,040 --> 00:08:58,600 Speaker 1: would you learn if you attend it? Well, this is 158 00:08:58,679 --> 00:09:00,880 Speaker 1: this is this is our second year. We did the 159 00:09:00,960 --> 00:09:03,680 Speaker 1: last year and organ an organ event at the Montage 160 00:09:03,760 --> 00:09:06,960 Speaker 1: Deer Valley and it's a fabulous three days. All the 161 00:09:07,000 --> 00:09:10,640 Speaker 1: people who attend or just kind of running around really 162 00:09:11,559 --> 00:09:14,839 Speaker 1: gushing about the experiences. So it's so talking about the 163 00:09:14,840 --> 00:09:16,600 Speaker 1: people who there. First of all, we have a kind 164 00:09:16,600 --> 00:09:19,760 Speaker 1: of we have a private club, robb Report Club. I 165 00:09:19,800 --> 00:09:21,720 Speaker 1: just I wanted to get their names because you've got 166 00:09:21,800 --> 00:09:25,120 Speaker 1: Craig Venor, right, he's the keynote speaker, right, helped map 167 00:09:25,160 --> 00:09:27,480 Speaker 1: the human geno. Yeah, yeah, he did. He's the king 168 00:09:27,480 --> 00:09:30,240 Speaker 1: of DNA. Absolutely, he's there as a speaker. We've got 169 00:09:30,240 --> 00:09:33,440 Speaker 1: a range of doctors from places like you know, Cleveland Clinic, 170 00:09:33,960 --> 00:09:38,400 Speaker 1: John Mayo, John Hopkins Mayo Clinic, world class doctors talking 171 00:09:38,440 --> 00:09:43,200 Speaker 1: about everything from nutrition to sleep to handling stress to 172 00:09:43,280 --> 00:09:46,680 Speaker 1: the importance of one that's like meditation with So in 173 00:09:46,679 --> 00:09:48,960 Speaker 1: the morning we're they're having our health talks with the 174 00:09:49,000 --> 00:09:52,240 Speaker 1: doctors talking to us. That's after going out on a 175 00:09:52,320 --> 00:09:56,520 Speaker 1: hike and watching the sunrise, a luncheon with a keynote speaker. 176 00:09:56,559 --> 00:09:57,960 Speaker 1: Then the afternoon we go out and do one as 177 00:09:58,000 --> 00:10:04,920 Speaker 1: activities that's ranging from pelates, it's you know, um, mountain biking, hiking, meditation, 178 00:10:05,640 --> 00:10:09,480 Speaker 1: Uh what that's fly fishing, you name it. We've got 179 00:10:09,480 --> 00:10:11,560 Speaker 1: the participate. The opportunity for doing that one is and 180 00:10:11,559 --> 00:10:13,599 Speaker 1: then the evening we have you know, movie screenings in 181 00:10:13,640 --> 00:10:16,560 Speaker 1: the outdoor lawn and we're gonna have to do our 182 00:10:16,600 --> 00:10:18,440 Speaker 1: show there next year. PI. That's a very good idea. 183 00:10:18,640 --> 00:10:19,839 Speaker 1: We just have a little bit of time lift. But 184 00:10:19,840 --> 00:10:21,439 Speaker 1: I'm just curious. Give us one of your Best to 185 00:10:21,480 --> 00:10:24,080 Speaker 1: the Best award winners this year. Well, we've got a hole. 186 00:10:24,200 --> 00:10:25,959 Speaker 1: We have a hundred and fifties. Just give us one 187 00:10:26,000 --> 00:10:28,959 Speaker 1: because you can. It's it's in that beautiful magazine you've 188 00:10:28,960 --> 00:10:30,719 Speaker 1: got in front of you. Well I have to send 189 00:10:30,760 --> 00:10:37,600 Speaker 1: the Ferrari. Well yeah us too, Yes we are. We 190 00:10:37,640 --> 00:10:40,560 Speaker 1: love cars. Gonna Ferra you want driven, just bring it around. 191 00:10:40,840 --> 00:10:43,560 Speaker 1: Steve Mcolin, thank you so very much for joining us. Fascinating. 192 00:10:43,679 --> 00:10:46,640 Speaker 1: He is the CEO of the Robb Report, talking about 193 00:10:46,720 --> 00:10:51,360 Speaker 1: their upcoming Health and Wellness Summit, and the best of 194 00:10:51,400 --> 00:10:54,080 Speaker 1: the best. It's on newsstands this week. I'm Kathleen has 195 00:10:54,120 --> 00:11:01,480 Speaker 1: Long pim Fox. This is Bloomberg Radio. Coming up on 196 00:11:01,559 --> 00:11:05,120 Speaker 1: taking stock, look at equities, inflation, the Federal Reserve, and 197 00:11:05,200 --> 00:11:08,720 Speaker 1: investing in Europe. We've got details about where to put 198 00:11:08,720 --> 00:11:11,560 Speaker 1: your money right now. This is Bloomberg Radio.