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How the other half lives: Luxury companies thrive as the very wealthy splurge

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LONDON/PARIS - While millions are fretting whether they can afford another US$1,000 on energy this year, others are still splashing out on US$10,000 Hermes handbags as soaring prices leave wealthier

people relatively unscathed.

But millions of wealthier consumers are still sitting on a cushion of savings built up during the Covid-19 pandemic and keen to treat themselves after two years of restrictions.Hermes reported a record quarterly profit margin on Friday , as sales rose sharply amid strong growth in Europe and the United States, and a rebound in China in June.

"The surprising resilience of European consumers can also be seen in the strong results of luxury brands owner Louis Vuitton, particularly in their fashion and leather goods, such as Fendi and Christian Dior," Ms Rebecca Chesworth, a senior equities strategist at investor State Street, said.

"Not all companies can . Only companies that have pricing power that are doing relatively well - that have the dominant positions in their respective sectors - will be able to do that," BlackRock Investment Institute's global chief investment strategist Wei Li told Reuters."Focusing on the quality players within the sector is important.

 

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straits_times The other half? Half? Go back to school to learn ratio and percentage.. u mean the other 1%.

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How the other half lives: luxury companies thriveLONDON/PARIS : While millions are fretting whether they can afford another $1,000 on energy this year, others are still splashing out on $10,000 Hermes handbags as soaring prices leave wealthier people relatively unscathed.A string of consumer companies, from spirits group Diageo to Birkin bag maker Herme
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How the other half lives: luxury companies thriveLONDON/PARIS : While millions are fretting whether they can afford another $1,000 on energy this year, others are still splashing out on $10,000 Hermes handbags as soaring prices leave wealthier people relatively unscathed.A string of consumer companies, from spirits group Diageo to Birkin bag maker Herme
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »