Drove Tag

MILAN — Personal luxury goods are driving growth and profitability for the posh sector but in 2022 other luxury categories, which include furniture, automotive, yachting, cruises and hospitality, fueled mergers and acquisitions. In keeping with the eighth installment of the Global Fashion and Luxury Private Equity and Investors Survey 2023 issued by Deloitte and presented Wednesday here, although rising inflation, geopolitical instability, fear of recession in China and provide chain troubles are pressuring the posh sector, the market was healthy enough to be a powerful M&A goal in 2022, especially in light of its high profitability. Assessing about 300 firms globally, the survey highlights how 2021 margins for private luxury goods firms doubled those of other luxury sectors, with apparel and accessories’...