Research Coverage

Company hubs for the luxury equities under coverage.

• LVMH

  MC | Euronext Paris

  Coverage of LVMH: fashion and leather goods momentum, wines and spirits normalisation, and capital allocation across the group's maisons.

• Hermès

  RMS | Euronext Paris

  Coverage of Hermès: supply-constrained leather goods, atelier capacity additions, and the durability of the group's pricing model.

• Richemont

  CFR | SIX Swiss Exchange

  Coverage of Richemont: jewellery maisons, the specialist watchmakers cycle, and the online distribution question.

• Ferrari

  RACE | Borsa Italiana | NYSE

  Coverage of Ferrari: order book visibility, personalisation mix, and the transition of the model range.

• Kering

  KER | Euronext Paris

  Coverage of Kering: the Gucci reset, brand portfolio balance, and the cost of turning the group's largest maison.