The world may be heading into a global recession but that does not seem to affect luxury shoppers. They’re spending their money as if there was no tomorrow. Japanese and U.S. buyers together with tourists visiting Europe have pushed up luxury brands’ revenues and profits to new records, their half-year results showed. Appetite for luxury goods was so strong in many parts of the world that it helped make up for a severe drop in business in China, where shops stayed closed for weeks due to a resurgence of Covid cases.