Wall Street might not always appreciate the romance of fashion — but if investors are good at anything, it’s poring over the numbers as they figure out just where to put their money.
companies showed an investor flight to relative safety, with big designer names and beauty getting top dollar alongside a few growing names still working toward profitability.
“The economy takes a dip, but yet luxury [sales] continue to increase,” Pedersen said. “Luxury specifically follows a path of its own, it’s on its own planet sometimes in terms of what those valuations look like.” LVMH gets 5.4 euros from investors for each euro of annual revenues, giving it a top valuation in fashion, by revenue multiple.
“Money that was in high-growth newer retail models has moved into multibranded holding companies, businesses that have historically been run very, very well,” said Matthew Katz, managing partner at SSA & Co. “They’re perceived as safer, having more consistent returns to investors as they look ahead to what could be a difficult time.”
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