The Savigny Luxury Index continued its upward ascent gaining over two percent this month, driven by positive newsflow and reassured prospects for the Chinese economy.
Lack of clarity over the luxury sector’s performance in 2013 and prospects for 2014 caused a dip in the first half of January, reports Pierre Mallevays of Savigny Partners.
LONDON, United Kingdom — Despite a string of positive results announcements, the Savigny Luxury Index (“SLI”) lost 0.9 percent in August, nevertheless outperforming the MSCI World Index (“MSCI”) by close to one percentage point, as markets shuddered at the prospect of foreign intervention in the Syrian conflict.
Sales of luxury goods are slowing and, given the uncertain outlook, investors are taking profits, reports Pierre Mallevays, founder and managing partner of Savigny Partners.
LONDON, United Kingdom — The Savigny Luxury Index (SLI) lost 6.9 percent in September, underperforming a flat-ish MSCI World Index (MSCI) by nearly seven percentage points. Burberry’s profit warning sent the sector into turmoil mid-month and no amount of good news from the likes of Prada and Michael Kors could lift investors’ spirits. Big news Burberry announced a substantial slowdown in sales growth, with same store sales
LONDON, United Kingdom — The Savigny Luxury Index (SLI) continued its sluggish performance this month, ending almost flat (SLI components actually fell an average of nearly 2 percent when expressed in local currency) compared to a drop of 0.7 percent in the benchmark MSCI World Index (MSCI). Newsflow was good overall, with strong results and two successful IPOs, but dampened somewhat by concerns about growth prospects. Big news