- France-based investment firm Eurazeo believes consumers are still spending healthily as geopolitical turmoil and inflation roil the economy, managing director Adrianne Shapira told CNBC's Jim Cramer on Monday.
- "So far, the consumer is strong. I mean, we really have seen across our portfolios, strong performance," Shapira said in an interview on "Mad Money."
France-based investment firm Eurazeo sees consumers spending healthily as geopolitical turmoil and inflation roil the economy, managing director Adrianne Shapira told CNBC's Jim Cramer on Monday.
"So far, the consumer is strong. I mean, we really have seen across our portfolios, strong performance. Again, we [invest in] earlier stage growth equities, so I'd say we've been delivering double-digit growth, and we're thankfully not necessarily hit by the macro yet, because of the size of our businesses," Shapira said in an interview on "Mad Money."
"It's been good. We have gone through between the stimulus, obviously a lot of crises, now geopolitical risk. The fact is the consumer has shrugged off a lot, so fingers crossed," added Shapira, who previously spent over 13 years at Goldman Sachs in equities research.
Her comments come after the University of Michigan's final reading of March consumer sentiment dropped to 59.4 below the final reading of 62.8 in February.
Eurazeo stock rose 1.72% on Monday. The company's investments include names such as Nest Fragrances, Herschel Supply and recently-added Beekman 1802, which has a collaboration with Netflix series "Bridgerton" including personal care products like soaps and candles.
When Cramer asked about the products' high price tags and high raw costs the company might be facing, Shapira said that consumers are willing to pay up for Beekman's products because they are backed up by "real science" and the brand is approachable "early prestige."
"The category of skincare has been incredibly resilient because it's been all about self-care during Covid, and I think those habits will stick," she added about the decision to invest in Beekman.
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