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Trade war threatens reign of luxury stocks

Reuters  |  LONDON/PARIS 

By Helen Reid and Sarah WhiteLONDON/PARIS (Reuters) - An escalating trade war between the United States and China could abruptly end a glittering stock market run for luxury goods firms, with some investors already put off by lofty valuations in a sector powered by shoppers in the two countries. From pricey handbags to designer shoes, booming sales at the European companies that dominate the industry like Louis Vuitton owner LVMH and Gucci parent Kering have made them investor favourites, with shares still near record highs. But the possible trickle down effect of tit-for-tat tariffs hikes on ...

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First Published: Fri, August 10 2018. 11:50 IST