As prices have tumbled from February highs, shares in listed luxury companies have all the charm of an excellent investment opportunity, with the added appeal of a pandemic-proof balance sheet.
Articles on the subject: Economy
At Dubai Watch Week, organiser Ahmed Seddiqi & Sons and US-based specialist WatchBox announced a joint venture to develop the certified pre-owned watch market in the region.
At $120 per share or €14.5 billion, LVMH's offer for Tiffany was judged too low. Now the battle is on between luxury mastodons, which includes Richemont and Kering, to take control of the storied American jeweller.
With protesters more determined than ever after four months of unrest, Hong Kong is struggling to maintain its status as a world capital of luxury. Economic recession in the special administrative region spells bad news for watch brands as shipments to this main export market have fallen by 6% since the start of the year.
Three months ago, Patek Philippe and Vacheron Constantin were two of the hottest searches on Weibo: not for their watches, but because of customers' attempts to avoid import duty.