Valuation of Lark and stock-holdings, page-24

I would suggest you review the performance of luxury brands during and coming out of the GFC. Luxury brand sales dropped only 5% in Europe 2008 (the height of the GFC). Admittedly luxury brand sales were poor through COVID, but you couldnt even get to the shop or get your items shipped then.

And sitting behind all of this is Lark isnt exporting yet (or at the very start of their journey), are not prioritising the US, and will not discount as they dont have stock coming out of the ears that they need to think about that as a strategy yet.

Each to their own, interesting point on the US though... there are a narrow minded bunch.