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Financial Markets

Luxury Dampened by Extended Lockdowns

The sector is keen to put the events of 2020 behind it, but the gargantuan task of vaccinating the world — combined with concerns about new Covid variants — has poured cold water over investor sentiment.
Hermès store on Madison Avenue in New York.
Hermès store on Madison Avenue in New York. Getty Images. (TIMOTHY A. CLARY)
By
BoF PROFESSIONAL

Trading updates and quarterly results announcements over the course of January have clarified the impact of Covid-19 on 2020. Taking the combined turnover of the Savigny Luxury Index (SLI) constituents as a benchmark, it would appear that the sector has shrunk by just over 16 percent.

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