3 Luxury Stocks to Buy That Could Thrive in a 2023 Recession
Worried about a recession in 2023? No wonder. The "R" word has been pumped on media outlets as 2022 draws to a close. With inflation still running hot, there's worry that what has been a resilient consumer up to this point could finally tighten up on spending and induce an economic downturn.
But even among consumer goods stocks, there's a way to play defense: luxury brands. Realistically, recessions have a much lower impact on wealthy households, so popular high-end goods tend to continue performing pretty well -- especially if the recession is mild as is broadly expected next year. If you're looking to play defense with your consumer discretionary stocks, you can put the rich to work in your portfolio and profit.
With that in mind, LVMH Moët Hennessy Louis Vuitton (OTC: LVMUY), Tapestry (NYSE: TPR), and Lululemon Athletica (NASDAQ: LULU) are three luxury stocks that could thrive even if a recession strikes in 2023.
Source Fool.com
