Pierre Mallevays, managing partner of Savigny Partners — an investment firm working in the luxury sector — believes that for now, there is little cause for concern. “Unless there is a major geopolitical showdown between superpowers, China will continue to be the engine of growth of the luxury good sector for the next decade,” he believes.
October’s monthly Savigny Luxury Index (SLI) — a general market index published by Savigny Partners which tracks patterns across the sector — reported its biggest fall since August 2015: a decline of 11 percent. “There has been a stock market correction,” explains Mallevays. “But there is no real decline in the luxury sector per se.”