After taking a plunge last week following the announcement of China’s wealth redistribution plan, share prices for the leading luxury groups made up some ground earlier this week, though uncertainty lingers.
UK consumers are continuing to search for fake luxury brands in large numbers and some have more appeal to label-hungry shoppers than others. In fact, Rolex is the most wanted label for those seeking fakes online.
Covid has forced the Italian luxury industry to step up the pace of its transformation and search for investors, as shown by Zegna announcing a forthcoming stock market listing, and L Catterton’s acquisition of Etro.
Michael Kors parent Capri Holdings raised its fiscal 2022 forecast for profit and revenue on Tuesday, betting on a surge in demand for luxury products as consumers emerging from lockdowns look to upgrade their wardrobes.