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Is the luxury sector recession-proof? Sales at high-end brands plunged at the start of the Covid-19 pandemic, but they’ve since rebounded sharply, even as inflation soars and economic growth slows. Now many fashion houses are hoping that China’s reopening will be another boost to their business. Our Business Editor Kate Moody sat down with Rachid Mohamed Rachid, chairman of the investment group behind brands like Valentino and Balmain, on the sidelines of the World Economic Forum in Davos.
Also on the programme:
- Italy aims to revitalise struggling rural towns with a major infusion of cash from European pandemic recovery funds. It’s both a windfall and a challenge for local officials. Our Italy correspondent Natalia Mendoza reports.
- And Japanese steel once forged into the world’s finest swords is taking the world’s kitchens by storm, as a pandemic-era cooking boom translates into skyrocketing sales of premium knives. But can Japan’s cutlery masters keep up with demand?
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