Friday Morning Coffee 161: Houston, we have a problem !

190821 Friday Morning Coffee

Friday Morning Coffee 161: Houston, we have a problem !

 I went to Paris beginning of August on a weekend trip for the first time since the start of the pandemic. Not that this is relevant in itself, but the reason I mention it is that I experienced first hand that luxury shopping is alive and well. In a traditionally quiet Summer month were most Parisians are on the Côte d’Azur, clients, both local and foreign, were numerous in the Hermes and LVMH flagship stores. Also, both Beau Marché and Samaritaine were crowded like COVID-19 was a distant memory. It can therefore not come as a surprise that the biggest luxury companies have just published stunning Q2 results. Organic growth rates year-on-year were indeed above the keenest analyst estimates : LVMH +82% , Kering +95% and Prada +66% ! Outlooks given by managements for the second half of the year are encouraging.

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