The Luxury Strategy | Why LVMH & Hermès have Outperformed the Market w/ Christian Billinger (TIP643)

Clay is joined by Christian Billinger to discuss The Luxury Strategy by Kapferer and Bastien. Over the past 20 years, some of the best-performing companies in the stock market have come from the luxury sector. For example, Hermes and LVMH, which are both companies based out of France, have compounded at 21% and 16%, respectively.

Christian is chairman of Billinger Förvaltnings AB, which invests in publicly listed equities. The firm seeks to generate attractive long-term total returns in real terms without employing financial leverage. Christian previously covered European equities for Cheyne Capital, Gartmore, and GAM in London.

IN THIS EPISODE YOU’LL LEARN:
00:00:00 - Intro
00:00:35 - Christian’s experience
00:02:49 - Defining Luxury
00:08:53 - Luxury market overview
00:10:54 - Premium versus Luxury
00:16:58 - Geographic breakdown
00:19:40 - Customer overview
00:22:53 - The non-return effect
00:26:26 - Anti-laws of marketing
00:32:24 - Keep non-enthusiasts out
00:33:56 - Scarcity
00:41:14 - Increasing prices
00:46:32 - E-commerce
00:50:19 - India
00:56:36 - Pricing
01:03:54 - Valuation
01:12:23 - Recessions

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📖  BOOKS MENTIONED:
- The Luxury Strategy by Jean-Noël Kapferer &  Vincent Bastien: https://amzn.to/3S0ZGlk
- Selling Europe to the World by Pierre-Yves Donzé: https://amzn.to/3RZ8ZSY

Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀

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