The market for luxury goods has been fueled by the mushrooming of high-priced fashion, leather goods and watches, just to name a few, that are sought out by the growing affluent in the U.S., Europe and China.

The luxury market is also more resilient than one might expect. Luxury brands cater to consumers at the upper tiers of the economic spectrum, and these customers tend to have more disposable income that isn't as affected by inflation or a slowing economy.

But investing in luxury goods stocks isn't just about playing defense. This a good space to be in over the long term -- Statista calls luxury goods a $312 billion market and predicts that it will grow at a 5.4% compound annual growth rate (CAGR) over the next five years. Euromonitor forecasts that the personal premium goods market will grow 6% to 8% over the next three years as it grows into a $370 billion industry.

I invest in luxury items as well as luxury stocks.  Some of items that are investing in include Jewellery, diamonds and watches.  As for luxury stocks,my top pick is $LVMH-Moet Hennessy Louis Vuitton(LVMHF)$ . LVMH has been growing steadily over the past decade, largely due to its presence in all five major sectors of the luxury market: wines and spirits; fashion and leather goods; perfumes and cosmetics, and watches, jewelry, and selective retailing.

@Tiger_chat