Issue link: https://maltatoday.uberflip.com/i/1082991
12 maltatoday | SUNDAY • 17 FEBRUARY 2019 NEWS MASSIMO COSTA PEOPLE'S attitude towards sex in Malta has never been more open, especially amongst younger age groups who shun the prudishness of the island's conservative bastions. But as commerce and technology allow for greater freedom in the purchase and delivery of goods, so comes a greater business for the purveyors of sex toys – items which in the past were risqué objects obtained only by the most sexually adventurous, but now come by the national post from a warehouse in Malta. PleasureMalta.com was set up in 2008, selling the entire variety of sex toys, from the ubiquitous vibrators to bondage collars online. A spokesperson for the company said the interest in its products has not waned one bit since the start of the business. "As time goes by, people are becoming more aware of the availability of sex toys. And we see a significant surge in sales around Valentine's Day too, especially in the three days preceding the special day for 'lovers', when many are choosing to buy sex toys for the occasion." This intersection of love and sex toys does not only happen on the day dedicated to lovers. Erotic films hitting the mainstream screens have the power to kindle people's interest in toys which, in other ordinary circumstances, would be considered verboten. "When Fifty Shades of Grey hit the cinemas a few years ago, we experienced a large surge in products related to BDSM [an umbrella term covering erotic The secret Valentine: Malta's online sex shops "The Valentine's period is always one of the peaks of annual sales..." MATTHEW VELLA A group of entrepreneurs seeking €5 million on Malta's prospects market are pitching the "luxury experience" market to investors on the back of the growing number of multi- millionaires. Borgo Lifestyle – owned by entrepreneurs Claus and Jeanette Thottrup – will use the bond proceeds to channel €2 million as an interest- bearing loan to re-finance the construction of its 136-foot luxury yacht Satori, and €2.8 million to finance an upgrade of the five-star Borgo Santo Pietro Hotel in Siena, Italy. The wooden sailing yacht, which takes inspi- ration from the classic schooners of the 1920s and 1930s, is positioned amongst the most lux- urious and high-end sailing yachts in the world, and is registered and operated out of Malta. The vessel accommodates up to 10 guests and a crew of 8-9 people and includes five bedrooms, five external private areas and a very large in- ternal saloon. The Satori's guests will enjoy Michelin-starred dining prepared by a personal chef from the Borgo Group's restaurants Meo Modo and La Bottega del Buon Caffé, onboard spa facilities, a range of the latest innovative water toys, and an extensive programme of concierge activities managed by the Borgo Hotel. At the charter price of €99,000 per week, excluding expenses, the Satori does not come for cheap. Yet the group says that Knight Frank's 'The Wealth Report' sees the number of ultra- wealthy people – those with net assets of US$50 million or more – rising by 10% in 2017. As at 2017 the population of persons with a net worth above US$5 million stood at 2,535,480, up from 2,108,530 at 2012 (up 20%) and is expected to increase to 3,617,550 or by 43% by 2022. The ultra-wealthy category (US$50 million or more) is expected to increase by 40% between 2017-2022. And the overall luxury goods industry, including products and services, is worth approximately €915 billion today and is expected to reach about €1,260 billion in 2024. "A significant trend within the luxury industry is the rise of experiential luxury, including categories such as high-end food and wine, luxury hotels, and exclusive vacations. By 2022, the experiential segment is forecast to account for nearly two-thirds of the total luxury market – representing a fundamental shift in consumer behaviour, from owning to being," the company said. This entails the concept of "luxury experiences", with differing consumer experiences changing with culture: the Chinese were the largest market for luxury hotels, but affluent citizens of the United States of America, the next largest group, favoured Europe, especially Italy, Britain and France, looking for themes such as wellness, with unique spa treatments, yoga and meditation retreats. "Today's travellers are straying from 'cookie- cutter' hotel stays and seeking more authentic experiences. The further afield, the better for today's intrepid travellers looking to escape the crowded tourist traps and head to under-the- radar destinations." Borgo Lifestyle says that a noticeable trend in the luxury yacht charter market is the rising demand for luxury yachts "due to the increasing wealth of people, with a preference especially in European countries such as Italy and Croatia…. improving disposable incomes is likely to have a positive influence on the global market. The emergence of high net worth individuals and growing demand for holidaying is also expected to open up several opportunities for the global market in the near future." Luxury yacht group taps Maltese market for €5 million investment "A signif icant trend within the luxury industry is the rise of experiential luxury, including categories such as high-end food and wine, luxury hotels, and exclusive vacation" The 136-foot luxury yacht Satori - yours for €99,000 a week