• The wealthy are splurging on Ferraris, Gucci handbags, and expensive Champagne, while McDonald's customers can't afford combo meals

    3 days ago - By Business Insider

    Daniel Vogl/picture alliance via Getty Images
    Rich people are more insulated from inflation, which means they're still shopping for luxury goods.
    Luxury companies like LVMH, Kering, Ferrari, and Hermès are reaping the benefits.
    Still, some worry that the Ukraine war, China lockdowns, or recession could hurt their bottom line.
    As inflation continues to squeeze consumers across income brackets, rich people aren't feeling the same pinch - which means the brands they shop for aren't either. The world's two largest luxury conglomerates, Kering and LVMH Moët Hennessy Louis Vuitton, reported...
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