Michele Norsa always carries an amber stone in his left-hand trouser pocket. The reason, says the chief executive of Italian fashion house Salvatore Ferragamo, is "to bring good luck, as I am superstitious".

A luxury goods executive might need fortune on his side these days as the industry navigates uncertain times. Richemont, owner of Cartier and Montblanc, warned this year that it saw "no cause for optimism" after reporting a steeper than anticipated 12 per cent fall in sales over the Christmas quarter.