Despite concerns surrounding an impending recession, luxury retailers are continuing to thrive. High-end fashion companies like Hermes, Fendi, and Dior report strong numbers from their most expensive products and show no signs of a slowdown. After two years of pandemic restrictions, wealthier consumers are keen to treat themselves to luxury goods using savings built up over the past two years. This resilience in the luxury market is especially remarkable amongst energy crises and skyrocketing interest rates, cost of food, and inflation submerging hundreds of thousands into financial jeopardy.
Source: BOF
