New data shows luxury brands are not feeling the pinch of inflation, thanks to the ultra-rich indulging in their products
Luxury brands are not worried about the impact of the global economic meltdown.
While prices of food and gas have skyrocketed, spare a thought for the ultra-rich dealing with the rising cost of sneakers and sports cars.
High end retailers like Dior, Louis Vuitton and Versace are all reporting strong sales and are hiking their profit forecasts.
The upbeat view is at odds with fears for the global economy.
However, this is nothing new, in fact it’s in line with past economic slowdowns according to the experts.
The rich are often the last to feel the impacts of a tightening economy, while spending among lower income consumers is squeezed by inflation.
