1/2/2023 0 Comments Turmoil most nearly means![]() by 2020.Įven Gucci CEO Marco Bizzarri, who sits on top of the world’s fastest-growing legacy luxury brand, knows the good times can’t last. Morgan among ultra-high-net-worth investors (those with more than $30 million in liquid financial assets) found that 75% expect a recession to hit the U.S. ![]() The investment community dislikes any uncertainty and there is plenty of it to go around. Goldman Sachs concurs and dropped its 2019 forecast for luxury industry sales growth from a previous 7% to 5%. Even evergreen LMVH suffered a 6% decline in stock values.įrench investment bank Societe General foresees similar trends, forecasting a “slowdown in the luxury sector has just started as concerns over the spending trend of affluent Chinese millennials and the impact of the Yellow Vest protest in France.” Tod’s took the unenviable prize as the worst stock performer in November with its stock price off 22.4%, followed by Michael Kors down 21% and Tiffany down 18.2%. ![]()
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