The luxury industry is booming. Just look at the latest figures from  LVMH and  Hermes. Or as Harrods Managing Director Michael Ward says in this week’s episode of In the City, observe the foot traffic in his storied London department store. While mid-market labels are feeling the squeeze, super-brands like Chanel and Dior are thriving, Ward explains. “The great thing about the luxury industry is it’s price insensitive,” he says. “The rich get richer, and that’s the world.” 

The luxury industry is booming. Just look at the latest figures from <a href="bbg://news/stories/RT1OF2DWRGG1" data-web-url="https://www.bloomberg.com/news/articles/2023-04-12/louis-vuitton-owner-s-sales-jump-as-chinese-splurge-again" data-cke-saved-href="bbg://news/stories/RT1OF2DWRGG1"> LVMH</a> and <a href="bbg://news/stories/RSNATUDWX2PS" data-web-url="https://www.bloomberg.com/news/articles/2023-04-06/at-200-billion-hermes-surfs-luxury-boom-to-surpass-novartis" data-cke-saved-href="bbg://news/stories/RSNATUDWX2PS"> Hermes</a>. Or as Harrods Managing Director Michael Ward says in this week’s episode of In the City, observe the foot traffic in his storied London department store. While mid-market labels are feeling the squeeze, super-brands like Chanel and Dior are thriving, Ward explains. “The great thing about the luxury industry is it’s price insensitive,” he says. “The rich get richer, and that’s the world.”

Get ahead of the trends and conversations that are shaping the City of London. Join Bloomberg's Francine Lacqua, Allegra Stratton and Dave Merritt every Thursday as they uncover the best stories and speak to the people in the know. 

Get ahead of the trends and conversations that are shaping the City of London. Join Bloomberg's Francine Lacqua, Allegra Stratton and Dave Merritt every Thursday as they uncover the best stories and speak to the people in the know.

Every week, Francine Lacqua and David Merritt go behind the scenes in the City of London, uncovering stories and speaking to the people that matter.

In the City

Get ahead of the trends and conversations that are shaping the City of London. Join Bloomberg's Francine Lacqua, Allegra Stratton and David Merritt every Thursday as they uncover the best stories and speak to the people in the know. 

Get ahead of the trends and conversations that are shaping the City of London. Join Bloomberg's Francine Lacqua, Allegra Stratton and David Merritt every Thursday as they uncover the best stories and speak to the people in the know.

In The City

Why Harrods Is Doing Better Than Before the Pandemic

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/83b8078e-b324-475c-813b-afe90167563c/transcript

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