Ongoing concerns of recession, an expected fall in earnings expectations, and sky-high inflation mean the potential returns on luxury stocks could be a boon in what promises to be a difficult year for stock-pickers.
These shares have more room to run higher as Chinese consumers hit the shops again and luxury companies flex their pricing power. But with valuations already fairly lofty, investors question how much higher they can go. But some analysts focused on the margins, taking some of the shine off the fourth-quarter sales boost. That said, it had little impact on the share price, which has risen by 600% in the last 10 years, compared with a 91% gain in the benchmark STOXX.
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