Wednesday 23 June 2010

Luxury Good Shares Rise Across Europe - 23/06/10

The China effect continues- after China has made it clear it will relax the yuan’s fixed rate to the dollar, stocks have rallied. The effect has hit across the luxury board, with the owner of Gucci group PPR SA, increasing 1.1 percent to 107.8 euros.

In the other corner LVMH Moet Hennessy Louis Vuitton SA reached 3.4 percent to 96.58 euros. Whilst shares rose across Europe, analyst at Kepler Capital Markets in Zurich, Jon Cox, stated “China is the fastest-growing part of the luxury goods market…A higher currency boosts sales and profitability.”


Image credit: louisvuitton.com

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Posted by MO at 6:00 am
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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au