Eurazeo’s Adrianne Shapira says consumers are strong and have ‘shrugged their shoulders a lot’

investment firm based in France 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’ve really seen strong performance across all of our portfolios. Once again, [invest in] growth stocks in earlier stages, so I would say we’ve been generating double-digit growth and fortunately we’re not necessarily hit by the macro yet, because of the size of our businesses,” Shapira said in an interview on “bad money.”

“It’s been good. We’ve been through stimulus, obviously a lot of crises, now geopolitical risk. The fact is, the consumer has shrugged it off a lot, so let’s keep our fingers crossed,” added Shapira, who previously spent more than 13 years at Goldman. Sachs in stock research.

His comments come after the final March consumer confidence reading from the University of Michigan fell to 59.4, down from the final reading of 62.8 in February.

Eurazeo shares rose 1.72% on Monday. The company’s investments include names like Nest Fragrances, Herschel Supply and the recently added Beekman 1802, which has a collaboration with Netflix “Bridgerton” series that includes personal care products such as soaps and candles.

When Cramer asked about the high product prices and high gross costs the company could face, Shapira said consumers are willing to pay for Beekman’s products because they are backed by “real science” and the brand is accessible. .”

“The skincare category has been incredibly resilient because it’s been focused on personal care during Covid, and I think those habits will stick,” he added of the decision to invest in Beekman.

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