LIVE MARKETS-Luxury space getting a Swift lift

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LUXURY SPACE GETTING A SWIFT LIFT

Ladies and gentlemen, will you please stand because Taylor Swift's Polo Ralph Lauren dress that she wore during her engagement with Travis Kelce has caught the eye of Swifties and investors alike.

The $398 white-and-black striped midi dress exemplifies the singer's years-long relationship with the fashion house, so much so that the singer made space for herself in the company's earnings call.

When the billionaire singer beat Russian President Vladimir Putin to grab the spot of Time magazine's 2023 Person of the Year, she wore an ensemble by Ralph Lauren on the cover.

Jefferies said euphoria around the highly Instagrammable event will support the brand value and back Ralph Lauren's RL.N share prices, which were up 0.2% on the day to $293.70, especially as Swifties tune in to her upcoming album release in early October and the beginning of football season for Kelce.

The dress, currently selling at $319.99 in the U.S., also reinforces the "acceptance of a high-low fashion approach and accessible luxury", the brokerage added.

Well, this is not the first time that Swift has taken the financial world by storm. Her Eras tour bumped up consumer spending across countries, and even led to the coining of the term "Swiftonomics."

The engagement has whipped up a frenzy, with terminally online sleuths frantically searching for Ralph Lauren dresses and zooming in on that sparkly rock.

Signet Jewelers SIG.N rose 3.1% on Tuesday, riding the coattails of buzz around Swift's diamond-studded ring, even though the company had little to do with the ring.

Apparel retailer American Eagle Outfitters AEO.N also jumped on the bandwagon, announcing a partnership with Kelce's clothing brand, Tru Kolors, to attract younger customers, and was up nearly 5% on the session.

(Nikhil Sharma)

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