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Do repost and rate:
Big bling’s C-shaped recovery is more precarious than LVMH and Hermes make it appear.
Walking right by.
Source: Bloomberg
Andrea Felsted
Forget the K-shaped recovery. The recent surge in luxury goods shares has been decidedly C-shaped.
Big bling’s valuations have been on a tear for the past two weeks since LVMH Moet Hennessy Louis Vuitton SE reported a blowout quarter for designer handbag sales, driven by Chinese consumers. But on Tuesday, Kering SA, the owner of Gucci, reminded investors that not all luxury companies would share equally in China’s latest wave of revenge spending.
