Luxury is one of those industries that is really hard to disrupt. Why? This traces back to humans' innate need to signal their status. Status symbols are used to show others that someone is successful, wealthy, or important. It doesn't mean we should succumb to this need to flex, but it's what it is, and we can observe that in evolution science too, with animals evolving to have fancier feathers or brighter colors, even though this puts them at risk of being spotted by predators, it increases their chances of finding a partner. Luxury, especially with LVMH, passes Buffett's two tests: 1) The a...
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