1337 GMT - European luxury names could focus on the U.S. market, a key battleground in the current challenging and uncertain environment in China, UBS analysts write in a research note. Luxury brands are investing in the U.S. both on the marketing and retail forefront, despite the global slowdown. Companies could experience a recovery in luxury demand, which is said to have started over the summer, with an expectation of mid single digit sales growth in 2025, UBS says. The potential implementation of U.S. tariffs on European imports is seen as the biggest risk, which could test the resilience of local demand with the expectation that most of the impact would be passed onto the consumer, they add. Richemont, Hermes and Brunello Cucinelli are UBS's top picks. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
November 25, 2024 08:37 ET (13:37 GMT)
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