Ralph Lauren, Capri ride wave of inflation-resistant luxury demand
Ralph LaurenCorp and Michael Kors-ownerCapriHoldings blew past earnings estimates, underscoring an unwavering demand for luxury apparel and handbags from wealthy consumers who remain largely unscathed by red-hot inflation.
Surging prices have had little impact on middle- and high-income households who have been happily splurging on designer labels, using what they saved during the pandemic when everything from foreign holidays to eating out came to a halt.
“High-income consumers are shopping in a way that is different from other times of inflation,” Jane Hali & Associates analyst Jessica Ramirez said.
“Their priority is to shop for events they are returning to now after …
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