Utility versus beauty: We all need clothing, but it’s the accessories that really loosen our purse strings. This is reflected unabashedly in the stock market valuation of the companies in the sector, where beauty beats practicality by a long way. Who else is playing in the sector behind Bernard Arnauld’s LVMH, with three of the four most valuable companies from France and the fourth from French-speaking Switzerland, and which manufacturer suits whom from an investor’s point of view? This and much more can be found in our latest sector analysis.