With the risk of global downturn rising by the day, the fate of luxury brands depends heavily on their positioning, writes Pierre Mallevays.

While some companies have denounced the use of crocodile, snake and ostrich skins to make high-end leather goods, others are doubling down on the product category.

Chinese luxury consumers say they feel increasingly pressured to buy other items before being offered the chance to nab sought-after Birkin and Kelly bags. The sales tactic is reportedly on the rise at brands like Celine and Rolex, too.

For luxury shares, the early 2000s offer a guide to the present moment. But this time around, things may be much worse, writes Pierre Mallevays.

Fashion brands that looked to China to drive growth for much of the last decade are leaning into the opportunity in the United States.

The Uniqlo owner said it will continue to operate in Russia, even international pressure in response to the country’s invasion of Ukraine sees waves of companies pull out.

Whether or not brands keep doing business in Russia is largely being driven by logistical challenges rather than moral commitments.

As sanctions take their toll, Russia’s wealthy are turning to luxury jewellery and watches in a bid to preserve the value of their savings.