Why the global luxury market is booming after the corona crisis

Chanel fashion show in Paris

Sales in the luxury industry are now increasing sharply after a pandemic slump.

(Photo: imago images / Starface)

Zurich, Paris, Milan There is a new shopping mall in the heart of Paris: “La Samaritaine” near the Louvre, a department store with an Art Deco facade, was closed for 16 years. The renovation took seven years and is said to have devoured 750 million euros. Today the building on the Seine, which belongs to the empire of the luxury group LVMH, houses shops from Cartier to Chanel, 600 different brands, a 3000 square meter beauty temple plus the hotel “Cheval Blanc” – rooms are available here from 1150 euros per night.

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