Luxury goods are and always have been high margin. Its a great business to be in. All car makers aspire to be Mercedes or BMW. All watchmakers want to be Rolex.

Luxury goods are and always have been high margin. Its a great business to be in. All car makers aspire to be Mercedes or BMW. All watchmakers want to be Rolex. Argueably all IT manufacturers want to be Apple, with its fat margins. For a non-tech, non-oil company to reach that valuation is amazing.