Make That Gucci or Louis Vuitton, Please

You probably guessed it by now. Now you can take it as fact: Luxury is extremely popular with Millennials and people under 35. Together they contributed 85 percent of luxury growth last year, finds a new report by UBS that looks at spending patterns in China, the US and Europe.

They also have some particular, high-priced brand favorites. Gucci and Louis Vuitton top the list, UBS says, after analyzing its survey and social media data. And despite what you hear, luxury aficionados still like to shop in physical stores. Read more…