In economics, you can define luxury goods as a good for which demand increases more than proportionally as income rises. In other words, as people become wealthier, they will buy more and more of the luxury good.
In economy depression, since the income of people become lower, then you cannot expect people to avail luxury goods but more on basic necessities like food and clothing.
They experienced a little drop during the pandemic but still able to survive as many rich people becomes more active buying those luxury brands and I believe every company will be affected by the economic recession and their future will depend on how they will deal with it and for sure, even if they suffered rich people will have their back and still buy their products simply because they already established their brand in the market.