Latest news with #VincenzoDeBellis
Reuters
a day ago
- Business
- Reuters
Art Basel shows more mid-priced art to a sombre market
BASEL, Switzerland, June 19 (Reuters) - The world's biggest art fair takes place in Switzerland this week, with global crises creating a more sombre mood, according to participants, and galleries showing less expensive works amid a slump at the top end of the art market. A fixture since 1970, Art Basel is widely viewed as a key barometer for the health of global art sales. Works by over 4,000 artists are on show, including a Pablo Picasso painting valued at over $30 million shown by U.S. gallery Pace. Global art sales fell 12% last year, the second annual decline in a row, according to a report by UBS. The drop was particularly sharp at the top end - defined as works selling at auction for over $10 million - where sales tumbled by 39%. "It's true the galleries are bringing material that is in a different price point to what it used to be," said Vincenzo de Bellis, Chief Artistic Officer and Global Director of Art Basel Fairs. "And it's natural, there's a different expectation." No artwork had sold for over $10 million as of Wednesday, according to sales confirmed by exhibitors. Last year, one piece had already fetched $16 million on the opening Tuesday. "I think the mood is very subdued," said Gaurav Madhok, a visitor from London who has been going for over 12 years. More than five gallery representatives said there were fewer American clients at stalls than in previous years. A separate UBS report showed a 4.6% jump in private individuals' wealth in 2024, with the U.S. faring especially well, creating over 1,000 new dollar millionaires daily. "We've seen a lot of European curators," said Georgia Lurie, a director of the Pippy Houldsworth gallery. "But Americans are thin on the ground, both collectors and museum people." ($1 = 0.8170 Swiss francs)
Fashion Network
29-05-2025
- Business
- Fashion Network
Zegna announces multi-year partnership with Art Basel
Fashion continues to forge ever closer links with art and Italian high-end business Zegna has just unveiled a global multi-year partnership with Art Basel, 'marking a significant new chapter in the brand's long-standing dedication to contemporary art and cultural dialogue'. It said the collaboration reinforces its 'commitment to supporting artists and artistic institutions that explore the intersection of creativity, community, and nature'. The partnership is said to mark 'a pivotal moment, offering a global platform to celebrate art that resonates with Zegna's values of environmental stewardship, cultural consciousness, and social engagement. For the first time, Zegna is ready to bring visibility to a long-protected legacy — not to brand it, but to let it blossom'. The brand will be present across all four Art Basel fairs — Basel, Miami Beach, Paris, and Hong Kong — and will create curated experiences that 'spark dialogue between art, design, and responsible entrepreneurship'. Also key is 'Visible', a project initiated by Cittadellarte – Fondazione Pistoletto and Fondazione Zegna, which supports socially engaged artistic practices through a pioneering fellowship model. Vincenzo De Bellis – Art Basel Director, Fairs and Exhibition Platforms – will join the Visible Steering Committee. The family-owned company's founder Ermenegildo Zegna always intended the label to have strong art links and saw art as one of his primary sources of inspiration. A century ago, he began commissioning local Italian artists to enrich the town of Trivero and the original wool mill at the heart of what is today known as Oasi Zegna, a 100 sq km natural territory in the Italian Alps. And the brand has continued to commission site-specific public artworks by artists like Daniel Buren, Dan Graham, and Roman Signer, while globally, it has extended this vision by inviting artists like Graham Sutherland, Not Vital, and Kiki Smith to create bespoke wool trophies, symbolising the brand's legacy in textile innovation. Next month, during Art Basel in Basel, Zegna will present the recipients of the 2025 Visible Situated Fellowships, spotlighting artists and collectives across the world who use their work to address today's most urgent environmental and social challenges. The company's chairman and CEO Gildo Zegna said: 'For over a century, our family has believed in the power of art to elevate places, enrich lives, and shape culture. This partnership with Art Basel and Cittadellarte is a natural evolution of that belief — a way to honour our legacy while looking forward. We see art not as embellishment, but as an agent of change. By supporting socially engaged artists through the 'Visible' project, we're reinforcing our commitment to a future where creativity, community, and responsibility can thrive together.'
Fashion Network
29-05-2025
- Business
- Fashion Network
Zegna announces multi-year partnership with Art Basel
Fashion continues to forge ever closer links with art and Italian high-end business Zegna has just unveiled a global multi-year partnership with Art Basel, 'marking a significant new chapter in the brand's long-standing dedication to contemporary art and cultural dialogue'. It said the collaboration reinforces its 'commitment to supporting artists and artistic institutions that explore the intersection of creativity, community, and nature'. The partnership is said to mark 'a pivotal moment, offering a global platform to celebrate art that resonates with Zegna's values of environmental stewardship, cultural consciousness, and social engagement. For the first time, Zegna is ready to bring visibility to a long-protected legacy — not to brand it, but to let it blossom'. The brand will be present across all four Art Basel fairs — Basel, Miami Beach, Paris, and Hong Kong — and will create curated experiences that 'spark dialogue between art, design, and responsible entrepreneurship'. Also key is 'Visible', a project initiated by Cittadellarte – Fondazione Pistoletto and Fondazione Zegna, which supports socially engaged artistic practices through a pioneering fellowship model. Vincenzo De Bellis – Art Basel Director, Fairs and Exhibition Platforms – will join the Visible Steering Committee. The family-owned company's founder Ermenegildo Zegna always intended the label to have strong art links and saw art as one of his primary sources of inspiration. A century ago, he began commissioning local Italian artists to enrich the town of Trivero and the original wool mill at the heart of what is today known as Oasi Zegna, a 100 sq km natural territory in the Italian Alps. And the brand has continued to commission site-specific public artworks by artists like Daniel Buren, Dan Graham, and Roman Signer, while globally, it has extended this vision by inviting artists like Graham Sutherland, Not Vital, and Kiki Smith to create bespoke wool trophies, symbolising the brand's legacy in textile innovation. Next month, during Art Basel in Basel, Zegna will present the recipients of the 2025 Visible Situated Fellowships, spotlighting artists and collectives across the world who use their work to address today's most urgent environmental and social challenges. The company's chairman and CEO Gildo Zegna said: 'For over a century, our family has believed in the power of art to elevate places, enrich lives, and shape culture. This partnership with Art Basel and Cittadellarte is a natural evolution of that belief — a way to honour our legacy while looking forward. We see art not as embellishment, but as an agent of change. By supporting socially engaged artists through the 'Visible' project, we're reinforcing our commitment to a future where creativity, community, and responsibility can thrive together.'
Fashion Network
29-05-2025
- Business
- Fashion Network
Zegna announces multi-year partnership with Art Basel
Fashion continues to forge ever closer links with art and Italian high-end business Zegna has just unveiled a global multi-year partnership with Art Basel, 'marking a significant new chapter in the brand's long-standing dedication to contemporary art and cultural dialogue'. It said the collaboration reinforces its 'commitment to supporting artists and artistic institutions that explore the intersection of creativity, community, and nature'. The partnership is said to mark 'a pivotal moment, offering a global platform to celebrate art that resonates with Zegna's values of environmental stewardship, cultural consciousness, and social engagement. For the first time, Zegna is ready to bring visibility to a long-protected legacy — not to brand it, but to let it blossom'. The brand will be present across all four Art Basel fairs — Basel, Miami Beach, Paris, and Hong Kong — and will create curated experiences that 'spark dialogue between art, design, and responsible entrepreneurship'. Also key is 'Visible', a project initiated by Cittadellarte – Fondazione Pistoletto and Fondazione Zegna, which supports socially engaged artistic practices through a pioneering fellowship model. Vincenzo De Bellis – Art Basel Director, Fairs and Exhibition Platforms – will join the Visible Steering Committee. The family-owned company's founder Ermenegildo Zegna always intended the label to have strong art links and saw art as one of his primary sources of inspiration. A century ago, he began commissioning local Italian artists to enrich the town of Trivero and the original wool mill at the heart of what is today known as Oasi Zegna, a 100 sq km natural territory in the Italian Alps. And the brand has continued to commission site-specific public artworks by artists like Daniel Buren, Dan Graham, and Roman Signer, while globally, it has extended this vision by inviting artists like Graham Sutherland, Not Vital, and Kiki Smith to create bespoke wool trophies, symbolising the brand's legacy in textile innovation. Next month, during Art Basel in Basel, Zegna will present the recipients of the 2025 Visible Situated Fellowships, spotlighting artists and collectives across the world who use their work to address today's most urgent environmental and social challenges. The company's chairman and CEO Gildo Zegna said: 'For over a century, our family has believed in the power of art to elevate places, enrich lives, and shape culture. This partnership with Art Basel and Cittadellarte is a natural evolution of that belief — a way to honour our legacy while looking forward. We see art not as embellishment, but as an agent of change. By supporting socially engaged artists through the 'Visible' project, we're reinforcing our commitment to a future where creativity, community, and responsibility can thrive together.'
