MILAN (Reuters) – As Italy entered a new coronavirus lockdown and shut shops in March, Genoa-based jeweller Gismondi 1754 turned to messaging service WhatsApp to sell a 300,000 euro diamond ring to a wealthy Swiss client.
At the same time, sales assistants at luxury puffer jacket brand Moncler were arranging gourmet dinner deliveries to customers homes so they could dine in style while watching a video streaming of the brand’s latest collection.
The pandemic has forced luxury goods companies to use social media, video and virtual showrooms to woo their wealthy customers in Europe and keep them shopping at a time when tourists, especially from China, have been absent for more than a year. Read more…..
Chart of the Day
Berkshire Hathaway CEO Warren Buffett discusses one of his most often repeated pieces of investment advice — that a diverse portfolio of stocks held in the long-term can be a very sound investment.