Ralph LaurenCorp and Michael Kors-ownerCapriHoldings blew previous earnings estimates, underscoring an unwavering demand for luxurious attire and purses from rich shoppers who stay largely unscathed by red-hot inflation.
Surging costs have had little affect on middle- and high-income households who’ve been fortunately splurging on designer labels, utilizing what they saved in the course of the pandemic when all the things from international holidays to consuming out got here to a halt.
“Excessive-income shoppers are buying in a manner that’s totally different from different instances of inflation,” Jane Hali & Associates analyst Jessica Ramirez mentioned.
“Their precedence is to buy occasions they’re returning to now after …
Carry on studying: Ralph Lauren, Capri ride wave of inflation-resistant luxury demand