Why luxury needs a wake-up call

Luxury has gone from being the preserve of the well-to-do to having mass-market status.

Tue, 01 Jul 2025

In the past, more than a few people have asked me, “Why do you like luxury stocks so much, Eden?”, and I’m very quick to say that, well, I don’t like just luxury stocks, but I look only at companies I understand, and luxury is one of the few areas I understand well. I do not have a comprehensive understanding of, say, Mira Murati’s Thinking Machines Lab, which was recently valued at US$10 billion (NZ$16.5b) despite having no product and zero revenue. I am just not that smart. I suspect Mira’s backers are...

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