Like the tourists looking for fake watches in Hong Kong’s Temple Street market, the fast-growing number of private equity firms shopping in the luxury goods sector must be wary of buying something they regret once they return home.
Until recently, the closest most buy-out executives came to luxury goods was deciding whether to slip into Armani or Ermenegildo Zegna suits in the morning while choosing between Rolex and TAG Heuer watches for the evening.
