Hauser & Wirth's UK profits plummet 90% amid gallery expansions and artist additions

The Financial Times reported that Hauser & Wirth's UK profits have dropped by nearly 90 percent, though this may not reflect the gallery's global performance across its 18 locations representing more than 90 artists and estates. Despite this financial setback in Britain, expansion continues elsewhere with a new gallery planned for Palo Alto targeting Silicon Valley clients. Iwan Wirth and Manuela Wirth relocated back to Switzerland in June, while the opening of a second London gallery has been delayed by two years. The gallery has added installation artist Cristina Iglesias, painter Qiu Xiaofei, and sculptor Lee Bul to its roster, along with the estate of Susan Rothenberg. New York's spring season featured major solo exhibitions by gallery artists at prominent museums: Amy Sherald at the Whitney Museum of American Art, Jack Whitten at the Museum of Modern Art, Rashid Johnson at the Guggenheim Museum, and Lorna Simpson at the Metropolitan Museum of Art. Hauser & Wirth operates over a dozen spaces across Europe, Asia, and North America, including museum-style hubs in Somerset and Menorca, plus a research institute in New York.