The stock market's luxury indexes are soaring post pandemic
Luxury investors are showing confidence in the stock market again, with mergers and acquisitions back on fashion’s agenda.
Covid-19 has without a doubt impacted the world’s stock exchanges, sending most of them in a frenzy in the early days, but after several months of difficulties, luxury indexes are setting new historical records.
The month of June particularly has been a stellar month, with Italian labels Cucinelli and Moncler reaching new heights not seen since 2017. In France LVMH, Kering and Hermes all saw growth, scoring a further rebound for the sector.
At the end of last year the acquisition of Supreme by VF Corp was an indication of new buoyant times, where the former skatewear company sold for a purchase price of 2.1 billion dollars, 15 times its market value. The LVMH and Tiffany merger from the same year went through a legal clash but in the end the transaction was still valued at 15,8 billion dollars, 17.60 times its market value.