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Farfetch CEO Sees Luxury Recession Resilience and China Return

  • Sales of hand bags, watches, fashion less sensitive to economy
  • Still, profits from luxury e-commerce are hard to come by
Jose Neves on Sept. 28.
Jose Neves on Sept. 28.

Photographer: Chris J Ratcliffe/Bloomberg

Luxury-goods sales will prove resilient in the case of a global recession and demand from China will return by next year, said the head of online luxury retailing platform Farfetch Ltd. 

Handbags, fashion and watches are less sensitive to economic downturns as well-heeled consumers keep buying such items, Chief Executive Officer Jose Neves said in an interview at the Bloomberg Technology Summit in London. Sales of such products should remain more buoyant than bigger-ticket purchases like yachts and high-end real estate, he said.