How to profit as luxury goods keep booming

Luxury goods is an industry that thrives on conspicuous consumption. It's had a surprisingly good pandemic, and there are plenty of reasons to expect that to continue as it taps into younger consumers.

Cover illustration – woman with shopping bags
(Image credit: © Adam Stower)

“Without basic bitches like me, you wouldn’t be fashionable,” Emily Cooper, the trendy young American marketer, tells stuffy French fashion designer Pierre Cadault in the popular Netflix series Emily in Paris. The exchange illustrates the tensions in the luxury goods sector, because – as Emily suggests – it is “basic bitches” like her that are now driving the market. The world of luxury is changing, whether Cadault likes it or not, and investors should take note.

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Chris Carter
Wealth Editor, MoneyWeek

Chris Carter spent three glorious years reading English literature on the beautiful Welsh coast at Aberystwyth University. Graduating in 2005, he left for the University of York to specialise in Renaissance literature for his MA, before returning to his native Twickenham, in southwest London. He joined a Richmond-based recruitment company, where he worked with several clients, including the Queen’s bank, Coutts, as well as the super luxury, Dorchester-owned Coworth Park country house hotel, near Ascot in Berkshire.

Then, in 2011, Chris joined MoneyWeek. Initially working as part of the website production team, Chris soon rose to the lofty heights of wealth editor, overseeing MoneyWeek’s Spending It lifestyle section. Chris travels the globe in pursuit of his work, soaking up the local culture and sampling the very finest in cuisine, hotels and resorts for the magazine’s discerning readership. He also enjoys writing his fortnightly page on collectables, delving into the fascinating world of auctions and art, classic cars, coins, watches, wine and whisky investing.

You can follow Chris on Instagram.