2025 Top 500 ranking: 44
The past two years has seen a pick-up in luxury goods, as the global economy continues to expand.
Chinese sales are trending upwards and growth has rebounded in Japan and Europe. Valuations are also attractive: the sector is on a price/earnings (PE) ratio of about 23 times – although excluding Hermès, whose high PE of 40.531 distorts the picture, the PE is 20-21. This compares with an historic range of 18-20 times.
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