And so yet more proof lands in the in-box that people are still buying luxury – and this time I’m not talking about the products. I’m talking about stocks. Hot on the heels of the revelation that Qatar’s sovereign wealth fund has bought a 5% stake in jeweler Tiffany comes the news that luggage maker Tumi’s value was up by over 50% after their IPO yesterday raised $338 million.

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Looking back over 2011, which I am currently doing for a Christmas Eve column, I’ve been struck by the fact that one trend dominates all others by a significant margin, having held true from last March through year end: the IPO. Read more