Minuk's Musings and Luxury

Richard Minuk - May 03, 2024

The Met Gala is this Monday.

 

Affectionately referred to as “Fashion’s Biggest Night Out”, the Met Gala is a fundraising benefit for the Metropolitan Museum of Art in New York City and it is where you can find outfits like this:

 

 

or this...

 

 

or this...

 

 

Laugh all you want – these outfits probably cost more than my car. Or, if you include the jewelery, my house!

 

Each year, I take this week as an opporunity to check in on luxury fashion stocks because there is no shortage of wealthy people in the world.

 

 

Year to Date

3 Year

Hermes

18%

26%

LVMH (Louis Vuitton)

5.5%

5%

Christian Dior

0.5%

2.5%

Burberry

-16%

-17%

Lululemon (not exactly luxury, but still)

-30.5%

2%

 

Factset (May 3, 2024)

 

The fashion business is very difficult to predict but the consistant demand for luxury designers, including from my wife for a CHANEL bag, never seeses to amaze me.

 

Hope you have a nice weekend.

 

GO LEAFS GO!

 

Rich

Investment Advisor