LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 3.1 percent this month, relative to a 0.7 percent drop for the MSCI. Whilst corporate news flow was largely positive, its impact on the SLI was overshadowed by the waxing and waning of tensions between North Korea and the USA over the former’s nuclear armament. North Korea’s close neighbours China, Japan and South Korea account for nearly 50 percent of the luxury market, so any tensions in that region are likely to have a significant impact on the SLI.
US luxury players turning their backs on the beleaguered US department store sector has been a consistent them…
The Business of Fashion