Our FSW High Frequency Luxury Monitor finished up 3.2 percent on the week, driven by broad based price appreciation across the index’s 18 constituent luxury stocks. The biggest gainers were Zegna (up 6.8 percent after its strong preliminary FY23 earnings report) and Ferrari (6.5 percent) while industry giant LVMH was up 3.4 percent.
Kering finished down -0.60 percent on the week after a big sell off on Friday took its share price down by just over 2 percent and broke its streak of six trading days in positive territory. Probably no causality, but today’s sell off intensified after Gucci’s Milan show with the stock losing over 1 percent from the start of the show until the close of trading in Paris.