A luxury buying spree is sending shares of companies like Gucci owner Kering and Hermes soaring

Thu, 02/16/2023 - 13:02

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Shares of Kering and Hermes are up 17% and 23% year-to-date, partly on optimism around China's reopening
Shares of LVMH hit an all-time high of $176.13 earlier this month.
Kering, Hermes, and LVMH helped lead the French CAC 40 to a record high on Thursday.

Shares of Kering SA, Hermes International, and other fashion heavyweights are on a tear as traders eye a boom in luxury fashion brands amid easing inflation and a reopening of China's economy.

Kering, which owns brands like Gucci and Balenciaga, has surged 23% year-to-date. The company's stock is trading near 10-month highs at $63.64 after close of European markets on Thursday.