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Can Luxury Goods Continue To Deliver Rich Returns In An Era Of Austerity? Nov 11
Standard & Poors, Nov 2011
Abstract
Given the recent and current global economic woes and a year of unusually extreme natural disasters, some would assume that luxury goods makers would be watching their products gather dust on shop shelves along avenue Montaigne in Paris, via dei Condotti in Roma, Rodeo Drive and Fifth Avenue in the U.S., and the Ginza shopping district in Tokyo. In reality, sales of luxury goods are holding steady in developed countries because most affluent shoppers have retained their buying power, in Standard & Poor's Ratings Services' view. More importantly, luxury goods are selling very well in developing countries, such as Russia and China, as well as in Middle Eastern Gulf states. Whereas the consumer goods sector in general is coping with...
Companies mentioned in this report are: LVMH Moet Hennessy Louis Vuitton S.A.,PPR S.A.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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