The following video is part of our "Motley Fool Conversations" series, in which consumer goods editor/analyst Austin Smith and industrials editor/analyst Brendan Byrnes discuss emerging trends in investing.

In today's edition, Brendan and Austin discuss the luxury retailers that are most exposed to international slowdowns. With a lot of sales coming from Europe and Japan, Tiffany & Co. rises to the top of the "most exposed" list, though that doesn't mean there aren't opportunities for luxury retailers to benefit abroad. Watch the video to see which ones Austin still likes.