Demand for European luxury brands in non-traditional luxury cities one of the many growth drivers

Luxury goods sales have grown at a 9% annual rate over the last 20 years. Growth drivers have shifted over time but Ashley Wallace sees more ahead. And this compelling growth suggests to Ashley that the the selloff in shares provides an opportunity. Cultural relevance is rising, with increasing mentions of luxury brands in song lyrics, including Beyonce's 2022 "Renaissance" album, and strong connections to top Instagram accounts. And while expansion into China may be slowing, less traditional US luxury markets, including Charleston, are becoming more relevant.

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