Luxury Goods Are Likely To Buck Current Economic Downtrends, S&P Report Says Nov 11
- ID: 1953239
- November 2011
- Standard & Poors
PARIS (Standard & Poor's) Nov. 15, 2011--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, Standard & Poor's Ratings Services said in a report published Nov. 14, 2011, titled "Can Luxury Goods Continue To Deliver Rich Returns In An Era Of Austerity-." "In reality, sales of luxury goods are holding steady in developed countries because most affluent shoppers have retained their buying power," said Standard & Poor's credit analyst Nicolas Baudouin. "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...
Companies mentioned in this report are:
- LVMH Moet Hennessy Louis Vuitton S.A.
- Kering S.A.
Action: General Comment
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Research type: News
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