The luxury sector has had a tough few months, with sales of well-known names such as LVMH and Burberry hit by a decline in high-end spending. But one analyst is bullish on under-the-radar names in a segment adjacent to the luxury market. "I like the luxury space , but long-term I think there is also good potential in the adjacencies to luxury like premium food and beverages players and apparel companies," Morningstar senior equity analyst Jelena Sokolova told CNBC Pro.
"Beverage companies are exposed to the same trends as luxury plays," she added, naming Diageo as a company to watch. The British multinational counts brands like Johnnie Walker, Guinness, Baileys and Hennessy in its portfolio. Shares in the spirits giant are listed on the London Stock Exchange and trade as an American Depositary.
.. Amala Balakrishner.
