1113 GMT - Luxury companies' pricing power could help them pass the impact of tariffs on to consumers, Morningstar analyst Jelena Sokolova says. The biggest risk for the luxury industry isn't the tariffs directly, but the impact that they have on economic growth and consumer sentiment, she says. Duties that target imported products from the E.U., the U.K. and Switzerland are the most relevant for the luxury sector, while the 36% tariff on Thailand affects Pandora, with most manufacturing in this region and more affordable price positioning, the analyst says. Shares in LVMH, Kering and Hermes fall more than 3%. Richemont, Swatch Group and Watches of Switzerland are the hardest hit in the luxury space. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 07:13 ET (11:13 GMT)
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