Three days ago, the French luxury group Hermes, most famous for their silk scarves, announced a deal to work with yacht builder Wally of Monaco. Today, Hermes’ major rival in the luxury industry, LVMH (Louis Vuitton), announced that they too were getting into the high-end yacht business. They will be buying Royal van Lent, whose yachts start at $44 million.
This tells me that, no matter what the general economy does in the next little while, the top-end wealth market is and will remain in good shape. I’m sure that recessions and depressions were supposed to be great equalizers; but that model doesn’t hold any more.
Jak's View of Vancouver v.3 