Luxury sector undaunted by Covid-19, soaring inflation

Union Bank of Switzerland analysts say top brands like Louis Vuitton have raised their prices 2.5 times higher than the inflation rate over the past 20 years. – EPA pic, February 20, 2022.

THE pandemic and soaring inflation have done nothing to take the shine off luxury brands, from Louis Vuitton to Gucci and Cartier, as the sector hiked prices to notch up stellar profits.

The world economy began to recover from the pandemic last year but the rebound has been accompanied by rising inflation, with prices for raw materials and energy soaring.

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