We Study Billionaires - The Investors Podcast

On today’s episode, Clay is joined by Christian Billinger to discuss The Luxury Strategy by Kapferer and Bastien. Over the past 20 years, some of the best performing companies in the stock market have come from the luxury sector. For example Hermes and LVMH, which are both companies based out of France, have compounded at 21% and 16% respectively. Christian is chairman of Billinger Förvaltnings AB, which invests in publicly listed equities. The firm seeks to generate attractive long-term total returns in real terms without employing financial leverage. Christian previously covered European equities for Cheyne Capital, Gartmore, and GAM in London. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 04:12 - The definition of luxury. 04:12 - How luxury companies create their own demand. 08:47 - What products are most prevalent in the luxury industry. 10:28 - The primary differences between a premium and a luxury product. 19:26 - What the non-return effect is, and how it can make luxury companies more resilient. 26:09 -