North America is Home to the World's Super Spenders
#crypto #wealth #luxury #spending #US #Canada
$KNIGHTSUSD $HESEY $LVMUY $PPRUY
"Luxury investors see new pockets of growth in the the US"--Paul Ebeling
Part of the outperformance of luxury stocks such as Hermes International this yr is due to the strength of US demand for ultra luxury leather goods, jewelry and clothing. It is not all about post VirusCasedemic pent-up demand though.
There has be a huge a surge in asset values, from stocks to real estate and contemporary art, and more importantly, there is a significant impact from cryptocurrency wealth that could benefit luxury-goods makers.
The US continues to surprise and the resilience of momentum may help mitigate China's volatility.
US buyers of luxury today are younger and more affluent than in the past, local “super spenders” account for $20-B of the total, which is more than 2X that from Europe, though well below China.
A prominent name set to profit is Louis Vuitton owner LVMH is a structural post-pandemic winner with strong exposure to North America Vs China. Gucci owner Kering SA also is among luxury players that stands to benefit.
Have a prosperous day, Keep the Faith!
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