The world's largest luxury goods group Louis Vuitton, France (site information) companies to expand April 18, said by the more affordable price to attract Chinese consumers outside a luxury shopping is increasing. Louis Vuitton worry, these trends may affect the rapid growth of the luxury goods industry in this emerging market.
Financial reporting of the first quarter of this financial year, Louis Vuitton, fashion and leather goods sector in Europe and the United States, sales were up 12% and 18% in Asia (excluding Japan) increased by only 10%.
Louis Vuitton LV (LouisVuitton) reduced in the Chinese market is expected to
"The Wall Street Journal quoted the chief financial officer of Louis Vuitton - Jacques Jiao Ni as saying:" Mainland China sales growth is lower than the entire consumer groups. "
Jiao Ni analysis, this does not mean that the trend of shopping outside of the Chinese consumer will last forever. He said that Chinese consumers shopping outside peak after the Lunar New Year, many people like the Chinese New Year holidays to travel abroad, the way to buy luxury goods, in order to save about 30 percent of the tax.
Fashion and leather goods sectors contribute about 1/3 of the profits to the Louis Vuitton company warned that sales growth was slightly lower than industry analysts expected. Louis Vuitton quarter sales increased 14 percent to 6.58 billion euros (about $ 8.6 billion), the largest contribution to sales growth is a cosmetics retail store Sephora and global duty-free shops Dfs.
Despite the many uncertainties and global economic downturn, the luxury goods industry is so far the performance of good. Strong demand in emerging markets and Asian consumers are keen to buy luxury goods, Louis Vuitton and other luxury goods companies is undoubtedly Gan rain during the travel to Europe.
Benefited from strong demand in Asia and the United States, Louis Vuitton in the first quarter of this fiscal year profit growth of 25%. Louis Vuitton said that the European economic outlook remains uncertain, and will strictly control the production costs.
All industry professionals are paying close attention to China and other emerging market consumers are beginning to show signs of tight cover purse. Similar worries prompted the British Burberry clothing company's stock price fell 5 percent in the 18th. France, China and the UK market, brisk performance, driven by Burberry last year's fourth quarter sales increased by 15%. However, this increase was lower than some analysts expected. One analyst told Reuters reporters: "Their performance is not bad, just does not have a sensational effect."
The Louis Vuitton company in recent years trying to diversify the types of goods, to seek the luxury goods industry is deeply rooted. CEO Bernard? Arnault said in February, in addition to mergers and acquisitions, Louis Vuitton's first priority is to maintain the "organic growth".
Louis Vuitton last year's acquisition of Italian jeweler Bulgari, in order to repair their own "shortcomings", and the United States Tiffany jewelry, France, Cartier watch, compete for market share.
In the second half of 2010, Louis Vuitton, suddenly announced that the positions of France's top luggage and apparel maker Hermes (Development site) group of about 20% of the shares, seems intent on holding, caused by the vigilance and prevention of the Hermes family. In December last year, held by Louis Vuitton, Hermes shares rose to 22.3 percent.
Reuters quoted sources as saying on the 18th, in talks to buy German books and perfume Douglas reported inaccurate information about Louis Vuitton.
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