Slowdown in luxury sector may widen Xmas present choices

Post-covid, consumers have things other than diamonds and similar luxuries to spend their money on. (Image: Depositphotos)

Bloomberg

Sun, 03 Dec 2023

By Andrea FelstedIn the market for some sparkle this Christmas? It may cost less than it did in the past few festive seasons.The slowdown in the luxury sector that’s hurt big European names such as LVMH and Gucci-owner Kering is touching everything from watches and jewellery to diamonds.So it’s probably not a bad time to put some bling under the tree. Rough diamond prices have begun to stabilise, but man-made diamond values remain under pressure. As for watches, Rolex and Patek Philippe timepieces continue to change hands...

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