A Wounded Goose
Here are three things You Should Know about luxury goods, cigarettes and summer cottage work sites:
1. No luxury, please. We’re Canadian. After a week in London earlier this month I was reminded how prevalent luxury goods are in Europe compared to Canada. Which could maybe explain why the world’s richest man is Bernard Arnault, founder and chair of French luxury goods conglomerate LVMH. A recent interview in ROB Magazine with a London-based luxury goods analyst pointed out that the MSCI Luxury Goods Index has clobbered the MSCI Europe index, up 342% since 2012 vs. 75%. In the US, there are some big luxury names like Tapestry (Coach and Kate Spade) and Capri Holdings (Michael Koors and Jimmy Choo), which the analyst said mainly cater to “the aspirational” segment: think handbags under US $1,000 vs. “ultra-luxury” European brands of US $5,000 and up.
And in Canada? The only name the analyst came up with in the luxury outerwear category was luxury-parka maker Canada Goose Holdings (GOOS-T). As you see below, GOOS shares are down 48% over the past five years compared to Milan’s Moncler, which is up 92% over the same period.
Someone should point out to the analyst that, as actor Daniel Craig demonstrates below, a Canadian tuxedo is actually luxury wear.
3. Show us your summer office: Summer is here, and a lot of our IA friends are now working from their cottages, cabins, RVs and other summer abodes.
We’re starting to get pics from some of these locations, and they are gorgeous! Check this northern Ontario remote office location from one of our Toronto IA friends:
Send us your summer cottage pics if you’d like us to share them. Lets see if we can get some from our European friends as well!
Here is next week’s roadshow schedule - please let us know if you’d like to attend any of these luncheon meetings:
Thank you so much for your continued support and interest.
Rick Peterson,
Chair