The market proved resilient through WHO warnings of a Covid spike in Europe, huge uncertainty over Brexit and the US elections, and the collapse of the sector’s biggest deal, as investors set their eyes on 2021.
The Savigny Luxury Index (“SLI”) took a tumble this month, with the luxury sector enduring one of its worst quarters on record.
Luxury investment throughout 2019 often felt like a game of musical chairs, but the year ended on a positive note, with an overall yearly gain of 44 percent for the Savigny Luxury Index.
The group attributes the decision to uncertainties in Calvin Klein's management.
European luxury names including Swatch and Richemont, both of which are particularly exposed to the disruptions in Hong Kong, saw shares rise on the news.