Global management consulting firm Bain & Company Bain in the latest report that , by the Chinese economic slowdown and the yen and other currency devaluation , a loss of momentum in the global luxury goods industry sales growth in 2013 will be only 2% in 2009 slowest growth since a year . If calculated at constant exchange rates the growth rate of 6% , Bi Beien mid-year forecast of 4-5 % ideal , but also 5% higher than in 2012 .
Annual growth rate of 20% from 2012 down to 2.5% this year, mainland China has almost become the slowest development of the market, even to achieve 4% growth in the Americas leapfrogged . Bain said that China has evolved to become a “mature market “, which consumers tend to choose “Go logo” on the grade of products as well as high-end shopping abroad , the central policy of combating corruption luxurious warmth still there. The luxury goods giant LVMH Moët Hennessy Louis Vuitton SA (LVMH.PA) Moet Hennessy – Louis Vuitton Group and Kering SA (KER.PA) Cayenne Group, released this month, three -quarter earnings forecast confirmed Bain . LVMH the deadline September 30, 2013 in the third quarter , revenue rose 1.7% to 7.02 billion euros , down from 15 analysts by Bloomberg expected 7.24 billion euros , sales of organic growth of 8% was below Bloomberg analysts expected 10% where fashion and leather goods sector revenues experienced a negative growth analysis is also lower than expected revenue .
Kering SA (KER.PA) Cayenne in concern Gucci Group Gucci brand sales fell 5.4% in the third quarter , continuing a disappointing performance , and Chief Financial Financial Officer Jean-Marc Duplaix for the first time acknowledged Gucci Gucci China sales decline. Kering SA (KER.PA) Cayenne Group, said three quarters of the problem because the flow of people , Gucci Gucci uneven performance by region , sales in China fell for the “low single digits ” in the Asia-Pacific market excluding Japan ‘s overall sales fell 2 percent , the region’s total revenue accounted for Gucci Gucci income exceeds one-third of Japan and the United States comparable revenue growth of 10 % and 3 %, while in Western Europe, due primarily to continued weakness in the Italian market dragged down overall performance , revenue declined 2%.
One of Bain partner Claudia D’Arpizio said: “Over the past few years, speeding the development will certainly cooling , which is the luxury brand’s benefits is that they can now focus on their plans for the future , rather than to keep up with reality. “LVMH and Kering SA (KER.PA) Cayenne Group already has begun to focus ” end products “in order to raise prices and limit supply to enhance the brand specificity, but transformation takes time until now with little success.
Despite slow growth , but Chinese consumers are expected to be the world’s largest luxury goods group of customers , customers to buy luxury goods in 2013 , 29 % came from China , and in 2013 the luxury trade amounted € 15.3 billion China will surpass France as the the world’s fourth largest luxury goods consumer market, behind to 62.5 billion euros ahead of the United States and 172 million euros and 161 million euros in Japan Italy.
Southeast Asia as the ” new emerging markets in Asia ,” luxury transactions this year than in 2012 rose 11%. Even international tourists were European luxury goods consumption growth psychological care of local residents led to reduced expenditure offset by growth in Europe is still able to sync with the world .
From the product category, accounting for 28% of the luxury goods industry business accessories category will be recorded growth of 4% , which accounted for 25% of the growth will be only 1% of clothing .
2013 total sales of luxury goods will reach 217 billion euros in 2012 to 212 billion euros , two , three quarters of development ” almost at a standstill .” Bain also predicted the capacity of the luxury goods industry in 2016 will reach 2450-2550 million euros.
In addition, the Italian luxury goods industry association Fondazione Altagamma report is expected in 2013 in the online sales of luxury goods than in 2012 increased 28% to € 9.8 billion , accounted for only 4.5% of total sales of luxury goods , of which 40% are accessories transactions , 30% from clothing . The organization also said consumers are increasingly spending power from the secondary line of luxury brands transferred to the new brand .
