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Do the numbers reflect this? I'm just looking at the stock prices of a few luxury companies like LVMH and and Kering and it seems they were are at all time high

Do the numbers reflect this? I'm just looking at the stock prices of a few luxury companies like LVMH and and Kering and it seems they were are at all time highs prior to COVID.

_bxg1 6y ago
Just my anecdotal impression; it's possible I'm biased by the extents of my bubble
- ghaff 6y ago
  You probably are. Go to Vegas and there are whole shopping malls where, to indulge in just a degree of hyperbole, I'd have to look hard to find something I could afford. Or at least would even consider affording.
  - jaywalk 6y ago
    And those malls are usually pretty empty, from my experience.
  - _bxg1 6y ago
    In fairness, conspicuous consumption is one of the primary draws of Vegas. Probably not a very representative example.
    - blaser-waffle 6y ago
      And it's also a one-off, in a national and international sense. It's like judging consumption levels in the Muslim world by Dubai.
      - kevin_thibedeau 6y ago
        NYC has more than one of these sort of malls.
  - ardy42 6y ago
    > Go to Vegas and there are whole shopping malls where, to indulge in just a degree of hyperbole, I'd have to look hard to find something I could afford. Or at least would even consider affording. IIRC, Americans don't really shop at those stores. Their costumers are mainly foreign nouveau rich people.
alephnan 6y ago
Coronavirus accelerated the trend. https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/its%20time%20to%20rewire%20the%20fashion%20system%20state%20of%20fashion%20coronavirus%20update/the-state-of-fashion-2020-coronavirus-update-vf.ashx https://www.mckinsey.com/~/media/mckinsey/industries/retail/...
paganel 6y ago
It might be because of China and the Chinese market/customers. It's only anecdotal, but last October I got to visit Vienna for one day (I live in Europe) and I was surprised to see a a lengthy queue outside the Louis Vuitton store close to the St. Stephen's Cathedral. First, I was surprised because I couldn't understand why would anyone still wait in that sort of queue for something to purchase in this day and age (when everything it's at a few clicks distance), and second I was also a little surprised by the fact that about 75% of the people waiting in that queue were of Asian origin, most probably Chinese.
- cat199 6y ago
  > couldn't understand why would anyone still wait in that sort of queue for something to purchase in this day and age for the social media photo / story of buying it in $exotic_locale bonus points if you are confusing things by buying french items in austria, obviously
- chillacy 6y ago
  These people are probably wealthy enough not to care but if I were buying a $5000 purse I'd want to do it in person, like I'd test drive a car before I bought it. Also if I were traveling on vacation, ordering online and shipping to my hotel would not be my first choice.

Do the numbers reflect this? I'm just looking at the stock prices of a few luxury companies like LVMH and and Kering and it seems they were are at all time highs prior to COVID.

_bxg1 6y ago

Just my anecdotal impression; it's possible I'm biased by the extents of my bubble

ghaff 6y ago
You probably are. Go to Vegas and there are whole shopping malls where, to indulge in just a degree of hyperbole, I'd have to look hard to find something I could afford. Or at least would even consider affording.
- jaywalk 6y ago
  And those malls are usually pretty empty, from my experience.
- _bxg1 6y ago
  In fairness, conspicuous consumption is one of the primary draws of Vegas. Probably not a very representative example.
  - blaser-waffle 6y ago
    And it's also a one-off, in a national and international sense. It's like judging consumption levels in the Muslim world by Dubai.
    - kevin_thibedeau 6y ago
      NYC has more than one of these sort of malls.
- ardy42 6y ago
  > Go to Vegas and there are whole shopping malls where, to indulge in just a degree of hyperbole, I'd have to look hard to find something I could afford. Or at least would even consider affording. IIRC, Americans don't really shop at those stores. Their costumers are mainly foreign nouveau rich people.

alephnan 6y ago

Coronavirus accelerated the trend. https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/its%20time%20to%20rewire%20the%20fashion%20system%20state%20of%20fashion%20coronavirus%20update/the-state-of-fashion-2020-coronavirus-update-vf.ashx https://www.mckinsey.com/~/media/mckinsey/industries/retail/...

paganel 6y ago

It might be because of China and the Chinese market/customers. It's only anecdotal, but last October I got to visit Vienna for one day (I live in Europe) and I was surprised to see a a lengthy queue outside the Louis Vuitton store close to the St. Stephen's Cathedral. First, I was surprised because I couldn't understand why would anyone still wait in that sort of queue for something to purchase in this day and age (when everything it's at a few clicks distance), and second I was also a little surprised by the fact that about 75% of the people waiting in that queue were of Asian origin, most probably Chinese.

cat199 6y ago
> couldn't understand why would anyone still wait in that sort of queue for something to purchase in this day and age for the social media photo / story of buying it in $exotic_locale bonus points if you are confusing things by buying french items in austria, obviously
chillacy 6y ago
These people are probably wealthy enough not to care but if I were buying a $5000 purse I'd want to do it in person, like I'd test drive a car before I bought it. Also if I were traveling on vacation, ordering online and shipping to my hotel would not be my first choice.