Caroline Reyl, manager of the Pictet-Premium Brands fund at Pictet Asset Management, analyzes the luxury brand sector and expects growth this year
2023 for the market of high-end goods opens in a very positive way thanks to the reopening of the Chinese which supports the segment. The decision of the Beijing government to quickly remove the ranti-Covid restrictions has re-emerged investor interest in the luxury sector.
CHINA KEY BUYER FOR THE LUXURY SECTOR
In the last five years the 40% of sales of luxury goods it came from China which, however, during 2022 recorded a slowdown in sales of 15% (compared to an annual growth which generally stood at 10%). They should be the ones to benefit from the Chinese reopening moda e high-end accessories but also cosmetics quality and sporting goods (with the main players ready to increase their global presence, support the digital transformation and build a direct link with the final consumer for a better shopping experience)…
** This article was written by FinanciaLounge