Wealth creation benefits everyone. But when those who have do better than those who do not, luxury stocks — you would think — should outperform. Investors, however, should be focusing on a different sort of inequality. In the context of slowing luxury spending globally, the sector’s companies are increasingly divided between the haves and the have-nots.
創造財富使每個人受益。但是，當富人比窮人過得更好時，奢侈品股——你會認爲——應該表現出色。不過，投資者應該關注另一種不平等。在全球奢侈品消費放緩的背景下，該行業的公司越來越分爲富人和窮人。
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