Is it time to invest in the luxury sector?
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Some in the industry reckon that discretionary spending in China and the rest of the world will soon bounce back.
PHOTO: AFP
SINGAPORE – Shares of some of the world’s most coveted luxury brands have taken a beating due to poor demand, but the sector’s slump could be an opportunity to invest in high-end firms at a rare bargain price.
Shares of Europe-listed brand owners such as LVMH and Kering have fallen between 20 per cent and 46 per cent since the start of 2024 as big spenders, most notably from China, cut back on Louis Vuitton and Gucci purchases amid fragile real estate and employment markets.
