Luxury goods stocks have been doing well for some time now. Moreover, with positives such as a recovering economy, lower tax rates and business-friendly policies, high consumer confidence, and robust consumer spending, luxury brands are poised for growth in 2018.
While binging on luxury goods stocks looks like a smart option now.
American Premium Water Corporation (OTC:HIPH) subsidiary Gents (www.gentsco.com) is sold in over 200 luxury retail outlets, including Bloomingdales, Saks Fifth Avenue, and Nordstroms. The brand, founded in 2012, focuses on men’s accessories, and has created a niche as being the first brand to focus on luxury baseball caps. The brand recently announced a joint venture with Zhangjiagang Advanced Company, a Chinese company that will begin distributing Gents products into mainland China. In addition to expanding geographically, Gents is looking to add product categories in 2018, leveraging its distribution network for accretive revenue.
Gents subsidiary posted revenue of $169,313 in the fourth quarter of 2017, exceeding the 600-700% guidance
PVH Corp (NYSE:PVH) designs and markets branded dress shirts, neckwear, sportswear, footwear and other related products.
The company has expected earnings growth of 15.2% for the current year.
Ralph Lauren Corp (NYSE:RL) is engaged in designing, marketing and distributing men’s, women’s and children’s apparel, accessories, fragrances and home furnishings. The company has expected earnings growth of 4.7% for the current year.
Michael Kors Holdings Ltd (NYSE:KORS) is a global accessories, footwear and apparel company. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. The company has expected earnings growth of 5.9% for the ongoing year.
Nordstorm, Inc. (NYSE:JWN) is a leading fashion specialty retailer offering compelling clothing, shoes and accessories for men, women and children. The company has expected earnings growth of 15.5% for the current year.