Buy Tiffany, Coach, Tesla as a way to get rich?

You may not be in the market for a new Tesla or jewelry from Tiffany, but if you are looking to invest in the markets these stocks could be a good pick.

So-called luxury stocks tend to outperform when the economy is solid, as optimistic consumers are more likely to shell out cash for high-priced goods. This trend is apparent when examining the performance of the S&P Global Luxury Index.

The index, which is made up of 80 of the largest publicly traded companies that make or distribute luxury goods or provide luxury services is up more than 31% over the past year versus the S&P 500, which is up slightly more than 13% over the past year.

U.S. listed luxury stocks include Tesla, Estee Lauder, Tapestry (formerly Coach) and Tiffany. An HSBC analyst called Apple a luxury stock in a note to clients last year, noting that Apple products are a way to “express status and fit in.”