Bryan, Garnier & Co's News

Consumer durables: Emerging Markets: Are adidas, SEB and Luxottica “safe-havens” in 2016?

News published on
January Monday 25, 2016


Beyond Essilor (our Top Picks for Q1), three other stocks in our Consumer Goods coverage continue to beat the DJ Stoxx 600 Consumer Goods so far after a robust outperformance in 2015: (i) adidas (+7.5% ytd and +39% in 2015), (ii) Groupe SEB (flat vs. the index and +37%) and (iii) Luxottica (+1% and +16%) thanks to the ongoing momentum fuelled, in particular, by emerging markets. In our view, most EMs should remain growth drivers for these three groups and therefore be a key differentiating factor within a context of growing concerns about these countries.


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