Luxury companies, explained.

Burberry designs and sells British luxury outerwear, scarves and accessories through its own stores, wholesale partners and burberry.com, and licenses beauty and eyewear to others.

Chanel is a privately held luxury house that designs and makes fashion, leather goods, fragrance, makeup, skincare, watches and jewellery, and sells them through its own worldwide network of boutiques.

Ferrari designs and hand-builds a deliberately limited number of luxury sports cars in Maranello, and earns extra from Formula 1 sponsorship, brand licensing and lifestyle.

Hermès is a family-controlled French luxury house that makes leather bags such as the Birkin and Kelly, silk scarves, ready-to-wear and other objects largely in its own French workshops and sells them mainly through its own network of 294 exclusive stores.

Kering owns luxury Houses including Gucci, Saint Laurent, Bottega Veneta and Balenciaga, plus jewelry and eyewear, and sells mostly through its own stores.

LVMH owns 75 luxury Maisons, from Louis Vuitton and Dior to Tiffany, Hennessy and Sephora, and sells most of them through its own stores.

Moncler Group owns Moncler, a luxury down-jacket and outerwear brand, and Stone Island, a technical apparel brand, sold mostly through its own stores and websites.

Prada Group designs and makes luxury leather goods, clothing and footwear under Prada, Miu Miu, Versace and other brands, selling about nine tenths of its revenue through its own stores and e-commerce.

Richemont owns 23 luxury Maisons, led by the jewellery houses Cartier and Van Cleef & Arpels, plus specialist watchmakers and fashion and accessories brands, and sells mostly through its own boutiques.