Paris, le 15/09/2016, Bord de Seine, 22h00

Merci aux très nombreux participants à la Conférence "Luxe aux USA: les marques de mode du Vieux Continent séduisent-elles toujours autant le Nouveau Monde ?" animée par Luca Solca, Exane BNP, et Philippe Jourdan, Promise Consulting, à l'occasion de la sortie de l'étude  "Baromètre Exclusivité & Désirabilité US".

Cette conférence organisée dans les locaux de l'EIML - Ecole Internationale du Management du Luxe -a rencontré un franc succès avec plus de 90 participants issus des milieux de la mode, du luxe, du conseil, de la communication, du journalisme. La présence de professeurs et d'étudiants de l'EIML a donné lieu à des échanges entre professionnels, futurs professionnels et enseignants d'une grande densité.

Le cocktail qui nous a réuni à l'issue de cette soirée a été l'occasion de poursuivre nos échanges et nos discussions autour d'un verre. L'ambiance chaleureuse et détendue a présidé à la clôture de cette soirée qui s'est poursuivie jusqu'à 22h00.

Soyez tous remerciés de votre présence et de votre implication. 

Vous souhaitez prendre connaissance du communiqué de presse relatif aux résultats de cette étude ?

[CLIQUER ICI]

Vous souhaitez avoir connaissance de la réédition de cette événement ou en savoir plus sur la façon d'acquérir les résultats de cette étude ? 

[CLIQUER ICI]

BAROMÈTRE PROMISE - BNP EXANE : LUXE AUX USA 2016

[ACCEDER AU COMMUNIQUE DE PRESSE EN ANGLAIS]

Promise Consulting Inc., société de conseil et d'études en marketing, en collaboration avec Exane BNP, acteur majeur de la Finance de Marché et expert de la recherche et de l'analyse sectorielle sur les actions européennes, asiatique et américaines, publie les résultats du Baromètre Promise - Exane BNP "Luxe aux USA 2016".

Ce baromètre classe les 22 premières marques les plus connues, les plus achetées, les plus exclusives et désirables aux USA dans le secteur des biens de luxe (mode). Il est établi auprès des femmes américaines les plus fortunées et porte sur les marques de prêt-à-porter, sacs, chaussures et accessoires issues du classement Industry Interviews, Exane Paribas Estimates & Analysis (2015).

Le baromètre comporte une vision macro-économique du marché américain du luxe, un volet essentiellement établi sur la notoriété, l’achat et l’image des marques, un troisième basé sur la notion d’exclusivité ainsi qu’un dernier sur la notion de désirabilité.

[TÉLÉCHARGER ICI LES DIAPOSITIVES EN ANGLAIS]

[TÉLÉCHARGER ICI LE COMMUNIQUÉ DE PRESSE EN FRANCAIS]

 AVIS D’EXPERT

« Après deux vagues, l'une en France et l'autre en Chine, qui nous avaient confirmé l'existence d'une hiérarchie implicite entre les très grandes marques de luxe et les autres, le Baromètre Exclusivité et Désirabilité mené aux US auprès des plus riches clientes dans l'univers de la mode féminine (prêt-à-porter, sacs, chaussures et accessoires de maroquinerie) confirme que les Américaines ont une vision bien particulière des marques de luxe. Si la première place occupée par Ralph Lauren en pénétration n'est pas une surprise, suivie de Chanel et de Gucci, la performance de Vera Wang mérite d'être soulignée : la marque de la styliste new-yorkaise d'origine chinoise se classe en effet en 4ème position en pénétration, démontrant ainsi que sa réputation - au même titre que son activité - dépasse désormais l'univers de la robe de mariée, qui a  fondé sa notoriété et sa réputation. Prada, Versace, Louis Vuitton et Gucci occupent les quatre premiers rangs en exclusivité, une preuve - s'il en était besoin - que la mode italienne séduit la clientèle américaine, seule Louis Vuitton venant s'intercaler à la troisième place. Faut-il y voir la revanche de marques de créateurs, d'entreprises plus familiales par opposition aux grands groupes internationaux du luxe ? Cet attachement particulier à la personnalité du fondateur se retrouve également dans la performance de la marque Ralph Lauren, qui sans prétendre à l'exclusivité, occupe le deuxième rang en désirabilité. Soulignons cependant, pour nuancer notre propos, la bonne tenue de la marque Louis Vuitton (3ème en exclusivité et 1ère en désirabilité). La marque phare du groupe LVMH conforte sinon renforce sur ces deux critères le classement qu'elle avait par ailleurs obtenu lors de nos deux derniers baromètres, en Chine et en France. Le pari de Mr Bernard Arnaud de faire de "Louis Vuitton, la marque la plus désirable au Monde" ne semble ainsi pas hors de portée. Si Chanel prend la 3ème place en désirabilité (derrière Louis Vuitton et Ralph Lauren), elle occupe une surprenante 10ème place en exclusivité, en raison en particulier de l'écart de perception qui oppose les clientes les plus jeunes aux plus âgées, la marque se révélant aux US moins consensuelle qu'ailleurs sur ce dernier critère. »

Philippe JOURDAN,
Associé Promise Consulting, professeur des Universités et membre de l’American Marketing Association (AMA) 

MÉTHODOLOGIE

Le Baromètre PROMISE CONSULTING - EXANE BNP est une étude à vocation internationale. Il est conduit et publié à un rythme annuel dans plusieurs pays et porte sur les biens de luxe dans les univers de la mode et des cosmétiques (« soft luxury »). Les deux indicateurs mesurés – la DESIRABILITE et l’EXCLUSIVITE – sont extraits d’un modèle plus complet comprenant 24 indicateurs clés de la performance de marque du point de vue du consommateur (« customer-based brand value »). Ce modèle –appelé Monitoring Brand Assets®- est utilisé par de nombreux annonceurs des secteurs de la Mode, de la Beauté et de la Distribution, clients de Promise Consulting, pour établir leurs plans marketing et en mesurer le retour sur investissements (ROI).

> Mode recueil : Access Panel en ligne
> Période de collecte : Juin 2016
> Pays : USA
> Univers : Mode de luxe (prêt-à-porter, sacs, chaussures, accessoires, etc.)
> Cible : 750 femmes de 25-54 ans avec un revenu mensuel du foyer supérieur à 12 500$
> Sujet : BAROMETRE PROMISE - EXANE BNP : LUXE AUX USA 2016
> Liste : 22 marques évaluées
> Indicateurs mesurés : Notoriété, Achat, Image, Exclusivité et Désirabilité

DESIRABILITE
L'Indice de désirabilité d'une marque se construit à l'aide des répondants ayant reconnus les marques présentées. Il est mesuré à l'aide d'une échelle de Likert en 7 points (et convertis sous la forme d’un indice), entre les répondants qui jugent la marque " idéale / proche de leur idéal " et ceux qui jugent la marque " pas du tout idéale / loin de leur idéal ". Il est présenté comme le pourcentage des répondants ayant opté pour les notes 6 ou 7. Cette échelle a été testée pour sa robustesse, sa validité et sa fiabilité dans un contexte international et multiculturel.

EXCLUSIVITE
L'Indice d’exclusivité d'une marque se construit à l'aide des répondants ayant reconnus les marques présentées. Il est mesuré à l'aide d'une échelle de Likert en 5 points croissants, des plus accessibles aux plus exclusives. Ce score est également converti sous la forme d’un indice à partir des % de répondants ayant attribué les notes 5 ou 4.  Cette échelle a été testée pour sa robustesse, sa validité et sa fiabilité dans un contexte international et multiculturel.

USA : 1ER MARCHE DES BIENS DE LUXE MAIS UNE CROISSANCE FAIBLE A TAUX DE CHANGE CONSTANT

UN MARCHE MONDIAL DE 237 MDS D’EUROS
Le marché mondial des biens de consommation de luxe représente environ 237 milliards d’euros au niveau mondial, soit le second poste de dépenses derrière l’automobile (379Mds€) et l’hôtellerie (165 Mds€), ce qui correspond à près d’1/4 (24%) des montants dépensés dans le secteur du luxe toutes catégories confondues (source : Luxury Goods Worldwide Market Study, Bain, 2016).

USA : 1ER MARCHE MONDIAL
Au sein du marché des biens de consommation de luxe, les USA prennent la première place avec près de 79 milliards d’euros d’achat (2014). Ce pays s’impose loin devant le Japon (20 Mds€), la Chine (18Mds€), l’Italie et la France (17Mds€). Si la croissance demeure importante, elle est essentiellement portée depuis 2014 par les écarts de taux de change entre le dollar et l’euro, la croissance étant nulle à taux de change constant.

USA : 2EME CONTRIBUTEUR A LA CROISSANCE DU MARCHE
Les citoyens américains ont contribué par leurs achats de biens de consommation de luxe à près d’un tiers de la croissance de ce marché au cours de la période 2012-2015, soit le 2ème contributeur derrière la Chine (source : Bain & Co, Altagamma, Exane BNP Paribas analyses & estimates).

DIGITAL ET LUXE AUX USA, DEUX TERMES ANTINOMIQUES ? QUE NENNI !
C’est aujourd’hui un état de fait, le marché du luxe existe au-delà des points de vente physiques. A titre d’exemple, YOOX NET-A-PORTER GROUP s’érige en parfaite illustration de cette tendance. Ainsi, 49% des répondantes déclarent avoir acheté des biens de consommation de luxe online plusieurs fois ou au moins une fois et 28% comptent le faire prochainement (source : Promise Consulting / Exane BNP).

UN MATCH ENTRE LES MARQUES ITALIENNES ET FRANÇAISES SOUS L’ARBITRAGE DE RALPH LAUREN

NOTORIÉTÉ ASSISTÉE : « FRATELLI D'ITALIA »
A la lumière du graphique ci-contre, notons que 5 marques Italiennes se positionnent dans le top 10 alors que la France n’en compte que 3.
Gucci remporte la palme et récolte les bénéfices d’une excellente couverture media mais aussi d’un pilotage sans faute du jeune Alessandro Michele. 
De son côté, si les ventes  de Ralph Lauren sur l’exercice 2015-2016 ont reculé de près de 3 %, à 6,3 milliards d’euros, cela n’entache en rien sa notoriété. La marque se glisse ainsi en position n°2 en notoriété et reste une valeur de référence du secteur dans son pays d’origine.

L’équipe olympique américaine n’était-elle pas habillée en bleu-blanc-rouge par Ralph Lauren à l’occasion des cérémonies d’ouverture et de clôture des  JO de Rio ? L’arrivée à la direction exécutive de Ralph Lauren de Stefan Larsson, ancien dirigeant d’Old Navy, doit logiquement se traduire dans les mois qui viennent par de nouvelles orientations stratégiques et marketing pour la marque emblématique américaine. Sur la dernière marche du podium, Chanel avec sa nouvelle égérie Lily-Rose Depp (tout comme l’était sa mère) sauve ici l’honneur des marques françaises. Notons enfin l’émergence de Vera Wang en 8ème position de ce classement, spécialiste des robes de mariage dont celle de Carrie Bradshaw dans Sex and the City. Le fait d’acheter sur Internet ne bouleverse pas le classement de notoriété des marques, mais confirme que les acheteurs en ligne connaissent un plus grand nombre de marques, le luxe attirant vers le média digital la clientèle la plus impliquée, sinon la plus pointue, dans la connaissance des marques du secteur.

TAUX DE PERPÉTRATION ET NOTORIÉTÉ ASSISTÉE NE SONT ÉVIDEMMENT PAS SANS RAPPORT
Avec une pénétration cumulée de 63%, Ralph Lauren s’impose haut la main sur son marché national. Loin derrière avec 43%, Chanel s’accapare la seconde place suivie par Gucci avec 41%. Les marques les plus connues sont donc également les marques les plus achetées dans l’univers de la mode de luxe féminin (le podium restant le même, seule l’ordre est ici inversée). Enfin Vera Wang a le vent en poupe et se positionne au pied du podium avec 38% de pénétration cumulée : la styliste new-yorkaise d’origine chinoise démontre que sa popularité dépasse le simple univers de la robe de mariée, qui lui a toutefois permis d’asseoir son image et sa réputation.

EXCLUSIVITÉ : LES DESIGNERS ITALIENS DEVANCENT LES GRANDES MAISONS FRANCAISES

Par définition, l’exclusivité est associée à un savoir-faire unique, un style reconnaissable, un parti-pris créatif talentueux qui permet de revendiquer au final un prix plus élevé. Dans l’inconscient collectif, les maisons françaises de Haute-Couture occupent ainsi une place à part, ce que nous avait déjà révélé les précédents baromètres effectués en Chine et en France en particulier.

USA & EXCLUSIVITÉ : LES DESIGNERS ITALIENS ENCADRENT LA MAISON LOUIS VUITTON
A la lumière de ce classement, une constatation s’impose : les riches clientes américaines valorisent l’exclusivité sur des critères différents de ceux relevés en France en particulier. Mettant en avant la personnalité des fondateurs, la créativité et la personnalité des directeurs artistiques, elles classent deux marques italiennes devant la 1ère grande maison française, Louis Vuitton qui précèdent et de loin les deux icônes, Chanel et Dior.
Mécénat culturel, sponsoring sportif avec la Louis Vuitton America's Cup World Series, membre récent du cercle fermé des maisons de haute horlogerie en suisse, lancement de fragrances… Louis Vuitton opte pour une stratégie commerciale et de communication dynamique, diversifiée et ce pari semble également payant au pays de l’oncle Sam. De leur côté, Hermès, Chanel et Dior se positionnent plus en retrait.

Bémol pour Hermès et Chanel, ces deux marques statutaires par excellence, performent pourtant mieux chez les jeunes consommatrices américaines (25-40 ans) et se positionnent à la 4ème et 5ème place avec respectivement des scores de 75% et 74%.

USA : UN MARCHE A PART
Si les griffes de luxe italiennes s’imposent clairement sur le marché américain sur l’indice d’exclusivité, le luxe à la française – incarné par les « Big Four », Hermès, Louis Vuitton, Chanel et Dior - demeure une référence dans l’hexagone et en Chine. Design, créativité, héritage, tradition, éclat, qualité de fabrication, forte couverture médiatique, le made-in-Italy rencontre un franc succès aux USA. Soulignons, qu’hormis Gucci détenue à 100% par le groupe français Kering, Prada, Versace ou Armani sont des marques 100% italiennes.

DÉSIRABILITÉ : UN CLASSEMENT OÙ LA FRANCE REPREND LE LEADERSHIP
Si la clientèle américaine tombe sous le charme des designers italiens Prada ou Versace en matière d’exclusivité, ces derniers se voient sacrifiés sur l’autel de la tradition en matière de désirabilité. Ainsi, Louis Vuitton (40%) s’impose sur la plus haute marche du podium, talonnée de près par Ralph Lauren (39%) sur son marché national et Chanel (39%), symbole du luxe à la Française.

Notons par ailleurs que Burberry, marque très active sur les réseaux sociaux tels que Pinterest et Snapchat se hisse en 4ème position (35%). Enfin, la spécialiste des robes Vera Wang s’accapare la 5ème place (35%). Les marques italiennes n’émergent, quant à elles, qu’à partir de la 6ème position.

France, USA, UK, Italie… A l’image du melting pot américain en matière démographique, le Top 10 du classement « désirabilité » voit émerger des marques de luxe originaires de quatre pays différents.

A PROPOS DE PROMISE CONSULTING INC.
Promise Consulting est un groupe de conseil et d’études marketing réunissant les sociétés Promise Consulting Inc., JPL Consulting et Panel On The Web. Promise Consulting intègre des prestations de conseil et d’études à forte valeur ajoutée. Elle a créé une méthodologie innovante de mesure de la performance de marque et du ROI des investissements centrés sur la marque : Monitoring Brand Assets©. Cette méthodologie a été déployée dans près de 50 pays à date, porte sur l’étude de 250 marques dans les secteurs les plus divers et totalise plus de 1.000.000 questionnaires administrés en ligne dans le monde.

Etabli à Paris, New-York et Casablanca, le groupe mène des études et des prestations de conseil dans le monde entier. Il est plus particulièrement reconnu pour son expertise en matière de mesure de la valeur de marque (brand value) du point de vue des clients.

Promise Consulting a su développer des méthodes et des modèles innovants, récompensés 7 fois en 10 ans, par la profession au plan national et international. Il accompagne les plus grandes marques de luxe, de cosmétiques et de distribution dans leur développement sur le marché national et les marchés étrangers. Il intervient également dans de nombreux secteurs d'activité, chaque fois que les marques souhaitent disposer d'une stratégie de croissance éclairée pour mieux comprendre leur marché, s'adresser à leurs consommateurs, séduire et fidéliser leurs clients.

Le CEO de Promise Consulting, Pr Philippe Jourdan, est rédacteur en chef de la Revue Française de Marketing (RFM), depuis 2011. Il publie dans des revues académiques de niveau international sur les problématiques de valorisation des marques dans les secteurs du luxe, de la beauté et de la distribution sélective. Il publie également dans la presse économique et d’actualités (Le Monde, Les Echos, Le Figaro, l’Opinion, La Revue des Marques, etc.). Il est également professeur des universités, chercheur à l’IRG (CNRS) et lauréat du Meilleur Article de Recherche AFM 2000. Il a enfin une certification Social Media. http://www.promiseconsultinginc.com/

A PROPOS DE EXANE BNP
Spécialisé dans les actions européennes, Exane BNP est présent dans trois métiers, l'intermédiation en placement d'actions européennes, la gestion d'actifs via la gestion de fonds d'investissement de moyen et long termes et les dérivés actions appelés Exane Dérivatives.

Exane BNP travaille principalement avec des clients institutionnels dans le monde entier (fonds de pension, gestionnaires de fonds pour le compte de banques ou d'assureurs, etc.) et commercialise ses produits dérivés à un spectre étendu de clients, comprenant des gestionnaires de fonds privés et des conseillers en investissements. Exane emploie plus de 800 personnes dans le monde, dans ses bureaux de Paris, Londres, Francfort, Genève, Madrid, Milan, New-York, Stockholm et Singapour. Les équipes de recherche d’Exane BNP couvrent plus de 600 grandes sociétés, dans le Monde, et sont régulièrement récompensées par des Prix pour la grande qualité de leurs analyses sectorielles. Pour plus d'informations : http://www.exane.com.

CONTACT PROMISE CONSULTING
Philippe JOURDAN
Tel : 01 78 09 03 64
philippe.jourdan@promiseconsultinginc.com

CONTACT PRESSE - AGENCE79
Dimitri HOMMEL-VIKTOROVITCH
Tel : 01 41 10 21 57
Mobile : 06 98 20 77 12
dhommel@agence79.com

Apolline GILLIOT
Tel : 01 46 20 59 08
Mobile : 06 60 92 62 28
agilliot@agence79.com

BAROMETER PROMISE – EXANE BNP : LUXURY IN THE USA 2016

[ACCEDER A LA VERSION FRANCAISE DU COMMUNIQUE DE PRESSE]

Promise Consulting Inc., an acknowledged consulting and market research firm, joins forces with Exane BNP, a key actor in the European financial market and a specialist in research and analyses for the European, Asian and American luxury sector, to publish the 3nd wave of the 2016 Promise – Exane BNP Barometer on "Exclusivity & Desirability of top luxury brands in the USA".

This barometer classifies the 22 most known, purchased, exclusive and desired brands in the US in the universe of personal luxury goods (fashion). This year’s barometer was conducted amongst the wealthiest American women from the Industry Interviews ranking, Exane Paribas Estimates & Analysis (2015), who were interrogated on the categories ready-to-wear, handbags, shoes and accessories.

With its macro vision of the American luxury market, the barometer establishes basically a section on the brands’ awareness, purchase and the brand image, with a focus on the notions of exclusivity and desirability. 

[DOWNLOAD HERE THE SLIDES IN PDF FORMAT]

EXPERT OPINION

« The first two waves of the “Front Row” Barometer confirmed already the existence of an implicit hierarchy among top luxury brands and the others. Now, after France and China, the Barometer measured in its third year the exclusivity and desirability of top luxury brands amongst the wealthiest women in the US in the sector of women’s fashion (ready-to-wear, bags, shoes and leather accessories). The results outline that the Americans have a very special vision of luxury brands. Considering that Ralph Lauren occupying the first place in terms of penetration, followed by Chanel and Gucci, is not a surprise, the performance of Vera Wang is definitely noteworthy and needs to be emphasized: Indeed, the brand of the American fashion designer with Chinese roots, is ranked on 4th’s position, demonstrating therefore that the brand’s reputation now exceeds the world of wedding dresses, on which the designer brand from Now York initially based its fame, awareness and reputation.
Prada, Versace, Louis Vuitton and Gucci occupy the top four ranks on exclusivity, which is proof enough - if proof was even needed - that the Italian fashion brands highly attract the US customers, while only Louis Vuitton manages to position itself on #3. Should we interpret this as the revenge of designer brands and family businesses as opposed to large international luxury groups? This special attachment to the founder’s personality is also reflected in the performance of Ralph Lauren, who ranks second in desirability despite not claiming to exclusivity. In order to qualify our statement, we need however to recognize the resilience of Louis Vuitton (3rd in exclusivity and 1st in desirability). The flagship brand of LVMH confirms and even strengthens its position on these two criteria that the brand had already obtained in our last two barometers, China and France. Therefore, Mr. Bernard Arnaud’s objective to make "Louis Vuitton, the most desirable brand in the world" does not seem out of reach. While occupying an excellent 3rd place in desirability (behind Louis Vuitton and Ralph Lauren), Chanel receives in terms of exclusivity a surprising 10th place from the wealthiest female customers in the USA, which is in particular due to the perception gap between the brand’s younger and older clients. The brand reveals itself to be less consensual in the US than elsewhere on this criterion. »

Philippe JOURDAN,
Associate of Promise Consulting, University professor and member of the American Marketing Association (AMA)

METHODOLOGY

The PROMISE – EXANE BNP "EXCLUSIVITY AND DESIRABILITY" Barometer has an international vocation and is renewed and published every year in several countries and on several luxury product in the universe of fashion and cosmetics (« soft luxury »). Both measured criteria – DESIRABILITY and EXCLUSIVITY – are based on a general model consisting of 24 key indicators which measure a brand’s performance from a customer’s point of view (« customer-based brand value »). This model, - called Monitoring Brand Assets®- is marketed by Promise Consulting for its numerous  clients in the sector of Fashion, Beauty and Distribution, who use the methodology in order to establish their marketing plans and measure their brand’s performance and return on investment (ROI).

> Collection method: Online Access Panel
> Period of data collection : June 2016
> Country : USA
> Univers : Luxury (prêt-à-porter, handbags, shoes, accessories, etc.)
> Sample : 750 adult women (25-54 years old)  with a monthly household income of + 12 500$
> Theme : BAROMETER PROMISE - EXANE BNP : LUXURY IN THE USA 2016
> List : 22 evaluated brands
> Measured indicators : Awareness, Penetration, Brand Image, Exclusivity and Desirability

DESIRABILITY
The brand desirability index is based on the brands which the respondents recognized among the presented ones. The desirability is measured according to the Likert scale with 7 points (and converted afterwards into an index), among the respondents who consider the brand as "ideal / close to their ideal" and those who think the brand is " not ideal / far from their ideal." It is then presented as the percentage of respondents who opted for the top 2 of the Likert scale, the notes 6 or 7. This scale was tested on its robustness, validity and reliability in an international and multicultural context.

EXCLUSIVITY
The brand exclusivity Index is constructed thanks to the brands which the respondents recognized among the presented ones. The exclusivity is measured according to a Likert scale with 5 points, increasing from “more accessible” to “more exclusive”. Such as for the desirability, the exclusivity score is equally converted into an index based on the % of respondents, who attributed the notes 5 or 4. This scale was tested on its robustness, validity and reliability in an international and multicultural context.

USA : 1ST LUXURY GOODS MARKET DESPITE ITS LOW GROWTH AT CONSTANT EXCHANGE RATES

A GLOBAL MARKET VALUE OF €237 BN ON PERSONAL LUXURY GOODS
The global market for luxury consumer goods accounts for € 237 billion and represents therefore the second most important segment after luxury cars (€ 379 billion) and hotels (€ 165 billion), which is equivalent to nearly one quarter (24%) of the amount spent in all categories of the luxury sector together. (Source: Luxury Goods Worldwide Market Study, Bain, 2016).

USA: 1ST GLOBAL MARKET
Considering the entire market of luxury consumer goods, the USA is ranked on the first place with almost 79 billion euros purchase (2014). The USA imposes itself on the other countries and is therefore far ahead of Japan (€ 20 billion), China (€ 18 billion), Italy and France (€ 17 billion). If growth remains important, the latter was since 2014 essentially due to exchange rate differentials between the dollar and the euro, wherefore the growth at constant exchange rates is zero.

USA: 2ND MOST IMPORTANT CONTRIBUTER TO THE MARKET GROWTH
With their purchases on luxury consumer goods, US citizens have contributed between 2012 and 2015 to nearly a third of the growth in this market, wherefore the USA can be considered as the market growth’s second contributor, right after China. (Source: Bain & Co, Altagamma, Exane BNP Paribas analyses & estimates).

DIGITAL AND LUXURY IN THE USA, A CONTRADICTION? NOT AT ALL!
Today it is a fact that the luxury market exists beyond the boundaries of physical point of sales. For example, YOOX NET- A- PORTER GROUP is the perfect illustration of this trend. Thus, 49 % of the respondents claim having already bought luxury consumer goods online, either several times or at least once, while 28 % are planning on doing so very soon. (Source : Promise Consulting / Exane BNP).

A MATCH BETWEEN ITALIAN AND FRENCH BRANDS UNTER THE ARBITRATION OF RALPH LAUREN

AIDED AWARENESS: « FRATELLI D'ITALIA »
The graphic on the left visualizes that 5 Italian brands are positioned among the top 10 ranking in terms of aided awareness, while only 3 French brands managed to do so. Gucci is clearly the winner in this category and benefits from an excellent media coverage accompanied by the faultless direction of the young Alessandro Michele.
Although, during the financial year 2015-2016, the sales of Ralph Lauren fell by almost 3%, to 6.3 billion euros, the brand does not suffer from notoriety issues. In terms of notoriety the brand occupies position No. 2 and remains an industry benchmark in its country of origin.

In fact, wasn’t it the US Olympic team which was dressed in blue-white-red by Ralph Lauren at the opening and closing ceremonies of the Olympics in Rio? The arrival of Ralph Lauren’s new executive director Stefan Larsson, former head of Old Navy, will definitely encourage new strategies and marketing approaches for the iconic American brand. Chanel is ranked on the third position of the podium with the brand’s new muse Lily-Rose Depp (as it was already her mother) and saves therefore the honor of the French luxury houses. Finally, we note the emergence of Vera Wang on the 8th position in this ranking, who is well known as a specialist of wedding dresses, including the one of Sex and the City-star Carrie Bradshaw. In this ranking Internet purchases do not disrupt brand awareness, but confirms rather that online shoppers know more brands and that luxury becomes more attracted to digital media which involves the customers, making them even sharper concerning their knowledge of the brands in this sector.

PENETRATION AND AIDED AWARENESS STAND INDEED IN RELATION TO EACH OTHER
With a cumulative penetration of 63%, Ralph Lauren takes the lead on its national market. Far behind, with 43%, Chanel monopolizes the second position followed by Gucci with 41%. In the universe of women’s luxury fashion, the most well-known brands are consequently also the most purchased ones (the podium remains the same, only the order is reversed here).

Finally, Vera Wang has wind in her sails and occupies with a cumulative penetration of 38% the bottom of the podium: the position of the New York designer with Chinese origin illustrates that the brand’s popularity goes far beyond the world of wedding dress, on which the designer initially established her image and reputation.

EXCLUSIVITY : ITALIAN DESIGNERS ADHEAD OF THE FRENCH HAUTE COUTURE HOUSES

By definition, exclusivity is associated with a unique know-how, a recognizable style and a creative and talented bias which can ultimately claim a higher price. In the collective unconscious, the French Haute Couture houses occupy therefore a special position, as we have already revealed in previous barometers, for China and France in particular.

USA & EXCLUSIVITY: LOUIS VUITTON SURROUNDED BY ITALIAN DESIGNERS
The exclusivity ranking (on the right) reveals clearly that the wealthiest American clients measure and perceive exclusivity according to other criteria than the French interrogated women did in particular in 2015 during the 1st wave of the barometer Promise – Exane BNP. Highly valuating the personality of the founders, as well as the creativity and personality of the artistic directors, the Americans classify two Italian brands before France’s first luxury house Louis Vuitton and far before the two French icons, Chanel and Dior.

With its cultural patronage, sports sponsorship with the Louis Vuitton America's Cup World Series, and as newest member of the exclusive club Swiss watch houses, and through the launch of its new fragrances ... Louis Vuitton chooses a dynamic and diverse business strategy and communication, of which Uncle Sam’s country absolutely benefits. Meanwhile, Hermès, Chanel and Dior are positioned further back in the ranking.
Flat for Hermès and Chanel, two statutory brands par excellence, which yet perform better among young American consumers (25-40 years) and which occupy the 4th and 5th position with the respectively scores of 75% and 74%.

USA : A MARKET APART
If the Italian luxury brands clearly occupy the US market on exclusivity, the French luxury houses - embodied by the "Big Four", Hermés, Louis Vuitton, Chanel and Dior - remain a reference in France and China. Design, creativity, heritage, tradition, brightness, quality manufacturing, strong media coverage and the notion of “Made-in-Italy” is a huge success in the USA. Hereby we emphasize on the fact that Gucci, to a 100% owned by the French group Kering, Prada, Versace and Armani are 100% Italian brands.

DESIRABILITY: A RANKING WHERE FRANCE CLEARLY TAKES THE LEADERSHIP

While the American wealthiest customers fall in terms of exclusivity under the spell of the Italian designers Prada or Versace, both brands sacrifice their positions in desirability. Thus, Louis Vuitton (40%) occupies the top step of the podium, closely followed by Ralph Lauren (39%) on its domestic market, and Chanel (39%), the symbol of French luxury.
Note also that Burberry rises on the 4th place (35%) due to its activeness on social networks such as Pinterest and Snapchat. Finally, Vera Wang, the New York specialist in dresses, monopolizes the 5th place (35%). On the other hand, Italian brands emerge not until the 6th position.
France, USA, UK and Italy ... Considering the American melting pot in terms of demography, the Top 10 ranking on "desirability" saw the emergence of luxury brands from these four different countries.

MORE ABOUT PROMISE CONSULTING INC.

Promise is a consulting and marketing group combining the following companies: Promise Consulting Inc., JPL Consulting and Panel On The Web. Promise integrates consulting services and surveys with a strong added value. The company has created an innovative methodology to measure the performance of brands and the ROI of investments centered on brands: Monitoring Brand Assets©. This methodology was deployed in over 35 countries to date, for 250 different brands from the most diverse sectors and has collected up to 1.000.000 online questionnaires.

Based in Paris, New York and Casablanca, the group conducts surveys and provides consulting services all over the world. Promise is more particularly acknowledged for its expertise regarding the measure of brand equity (brand value) from the consumers’ point of view. Promise has successfully developed innovative methods and models that have been rewarded 7 times in 10 years by the profession, both in France and abroad. The group is consulted for the biggest brands in luxury, cosmetics and selective distribution to help their development on the domestic and overseas markets. Promise also operates in numerous business sectors, each time the brands establish a growth strategy to better understand their market, communicate with their consumers, seduce their customers and improve their loyalty.

Promise’s CEO, Philippe Jourdan, is the chief-editor of the magazine Adetem, the French Marketing Review (RFM) since 2011. He publishes in academic international magazines on issues related to brand equity in luxury, beauty and selective distribution. He also publishes in the economic and news press (Le Monde, Les Echos, Le Figaro, l’Opinion, La Revue des Marques, etc.). Philippe is also a university professor, researcher at the IRG (CNRS) and was awarded for the best Research article AFM in 2000 and has equally a Social Media Certification. http://www.promiseconsultinginc.com/

MORE ABOUT EXANE BNP

Specialized in European shares, BNP Exane operates in three businesses:

> The intermediation in investment of European shares
> By-products shares named Exane Derivatives
> The asset management via the fund management of investment of medium and long term

BNP Exane mainly works with institutional clients all over the world (pension funds, administrators of funds for banks or for insurers, etc.) and markets its products to a vast range of customers' including administrators of private funds and investments advisers. Exane employs more than 800 people worldwide in offices in Paris, London, Frankfurt, Geneva, Madrid, Milan, New York, Stockholm and Singapore. The research teams of BNP Exane cover more than 600 big companies in the World and are regularly rewarded by Prizes for the high quality of cross-section analyses. For more information: http://www.exane.com.

CONTACT PROMISE CONSULTING
Philippe JOURDAN
Tel : +33 1 78 09 03 64
philippe.jourdan@promiseconsultinginc.com

CONTACT PRESS - AGENCE79
Dimitri HOMMEL-VIKTOROVITCH
Tel : +33 1 41 10 21 57
Mobile : +33 6 98 20 77 12
dhommel@agence79.com

Apolline GILLIOT
Tel : +33 1 46 20 59 08
Mobile : +33 6 60 92 62 28
agilliot@agence79.com

Night of Adetem (Nuit de l’Adetem) – Tuesday 07/05/2016

Picture: Award-winner Jean-Louis Moulins, professor at the University of Aix-Marseille, surrounded by two of the Jury members, its President Philippe Jourdan and Karine Cervoz-Goyat.

The first recipient of the Research Award RFM 2016 is Professor Jean-Louis Moulins, University of Aix-Marseille, and his co-author, Dr. Tarek Abid, with their article: "A scale for the social responsibility of brands: the application for consumers of organic food brands." (Original title: « une échelle de la responsabilité sociétale des marques : application aux consommateurs de marques alimentaires biologiques »).

This award was presented by Pierre-François Brézès, VP & General Manager, American Express Global Commercial Payments, France and Philippe Jourdan, head editor of the French magazine of Marketing, University Professor and founder of Promise Consulting Inc / Panel On the Web. The presentation of awards took place at the Night of Adetem (Nuit de l’Adetem), on July 5th 2016 and was held at the Pavillon Elysée, rue Marbeuf, 75008 Paris.

The aim of awarding this prize in the framework of the prestigious “Night of Marketing” is primarily the following: “To create a connection between the academic approach and the expressed need of marketers to find a source of knowledge, inspiration and innovation for renewed practices", says Philippe Jourdan, chef editor of the French Journal of Marketing since 2011. It also reinforces the magazine’s FNEGE / AERES ranking among the best French journals in Management Science.

Philippe Jourdan, president of the jury of this first edition, sincerely thanks the multidisciplinary jury of nine members, consisting of academics and professionals, French and Francophone (2 Swiss, 1 resident in Switzerland and one resident in San Francisco), for their adopted scientific assessment process based on the following criteria: originality of the subject, mastery of literature, rigor of the scientific and methodological approach, coherence of the argumentation and finally, the paper’s managerial contributions and its usefulness for Marketing professionals.

[MORE ABOUT THE JURY MEMBERS]

A FEW WORDS ON THE FRENCH JOURNAL OF MARKETING

The French Journal of Marketing aims to present the most innovative marketing techniques and practices to the academic community, to the students and to the professionals in the French speaking countries It thus pursues two major purposes: a scientific quality regarding the selection of the published articles and a selection based on relevance, interest as well as impact on all marketing professionals (teachers and practitioners) of the best articles.

As first French journal in the field of education and marketing strategy, the French Journal of Marketing distributes 4 numbers per year in France, as well as in 38 countries.

[DISCOVER THE JOURNAL OF MARKETING]
[LEARN MORE ABOUT THE NIGHT OF MARKETING]

MORE ABOUT PROMISE CONSULTING

Pr Philippe Jourdan, CEO of Promise Consulting, is the editor-in-chief of Adetem’s journal, the French Journal of Marketing (Revue Française de Marketing, RFM), since 2011. He publishes in academic journals internationally on the problems of the valuation of the brands in luxury, beauty and selective distribution. He also publishes in the economic press and news media (such as Le Monde, les Echos, le Figaro, l’Opinion, la Revue des Marques, etc.). Philippe is a university professor, researcher at the IRG (CNRS) and laureate of the Best Article of Research AFM 2000. He holds a certification in social media and is member of ESOMAR.

Promise Consulting is a company specialized in marketing studies and consultancy, issued from the merge of Promise Consulting Inc., JPL Consulting and Panel on the Web. Promise Consulting integrates services of market research and marketing consultancy delivered with a high added value. We created an innovative measuring methodology of a brand’s performance and its return on investments (ROI): “Monitoring Brand Assets©”. This methodology, deployed in nearly 50 countries, has surveyed 250 brands in multiple sectors, totaling over 1.5 million questionnaires.

Established in Paris, New-York and Casablanca, Promise Consulting conducts studies and services of consultancy in the whole world. Promise Consulting is mostly known for its expertise in measuring a brand’s value from the clients’ perspective. Promise Consulting has developed innovative techniques and models, was awarded 7 times in 10 years, by its Peers nationally and internationally. It provides insights and recommendations to the most notorious brands in luxury, cosmetics and retailing sectors, helping them develop on national and foreign markets. It is also active in several sectors of the industry, every time the brands are looking for an effective growth strategy in order to better understand the market, to reach their customers, attract them and, finally, keep them.

Promise Consulting is one of the 300 highly qualified members of the ICG (Internal Consulting Group): A network which brings experts from different areas of competencies (marketing, finance, governance, risk management, ect.) together, aiming to offer companies high-level consulting services on a transnational basis.

To cope with the growth of its business, Promise Consulting has established two departments to specialize its strong sector expertise: 

> LUXURY LAB: dedicated to the luxury sector in the world of Fashion, Beauty and selective distribution, Luxury Lab follows nearly 250 luxury brands in over 35 countries for over 10 years.
More: promiseconsulting-blog.com

> CONSO LAB: dedicated to the sectors of FMCG, automotive, finance and retail, Consumer Lab accompanies the announcer from the concept testing to the tracking of the market performance.
More: promiseconsulting-consoblog.com

DISCOVER MORE ON THE SOCIAL NETWORK

Site: http://promiseconsultinginc.com
Blog: http://whatsnewinmarketing.blogspirit.com
Facebook: http://facebook.com/promiseinc
Twitter: @pjourdan1967

[VIEW THE PICTURES ON FLICKR]

Conference « Luxury and China: insights and perspectives for 2016 and beyond » [06/30] Sharing the event’s most important moments [#promiseconsulting @adetem]

On Thursday, June 30, 2016, at the Café l’Adjugé in Paris, Promise Consulting hosted a conference on "Luxury and China: the challenges and perspectives for 2016 and beyond”.

In total 40 people, professionals from top luxury brands, journalists and consultants in the world of luxury, fashion, beauty and tourism, participated in the breakfast conference initiated by Promise Consulting at the prestigious Parisian auctioneers Drouot from 8:30am to 10:30am.

Continuing a series of lectures on trends and perspectives regarding the development of the world luxury market, Philippe Jourdan, founding partner and Chunyan Li, Senior Consultant and China specialist, combined their expertise and presented together a broad overview of the opportunities and challenges of the Chinese luxury market:

- On the one hand, the cyclical factors were isolated from the structural ones to discern the growth opportunities in a certainly more "bumpy" economic context. Additionally, the conference outlined new and interesting opportunities for Western luxury brands.

- On the other hand, the enriching insights of the specialist in Chinese culture took into account the emergence of new expectations, especially of those of younger generations, vs the ones of the luxury goods generations.

THEY ATTENDED THE CONFERENCE AND SHARED THEIR OPINION 

"UN GRAND MERCI POUR LA CONFERENCE CONCERNANT LA CHINE, AS ALWAYS INSIGHTFUL, INTERESTING, IN DEPTH AND EASY TO UNDERSTAND" - BENJAMIN, LUXENDREAM

"MERCI ENCORE POUR HIER. C'ETAIT TRES INTERESSANT, D'AUTANT PLUS QUE LA CHINE REPRESENTE UN DE NOS PLUS GROS MARCHES.  REMERCIEZ POUR MOI CHUNYAN ET PHILIPPE POUR LEUR PARTICIPATION" - LUCAS, LACOSTE

"JE TENAIS EGALEMENT A VOUS REMERCIER POUR L'ORGANISATION DE CETTE BELLE CONFERENCE OU NOUS AVONS APPRIS BEAUCOUP GRACE A UNE PRESENTATION TRES CLAIRE" - CAMILLE, CHANEL

"GRAND MERCI POUR CETTE CONFERENCE TRES INTERESSANTE QUI M'A DONNE UN AUTRE REGARD SUR BIEN DES SUJET. ELLE FUT RICHE EN ENSEIGNEMENTS ET TRES CONVIVIALE. BRAVO POUR LE TIMING CAR LE FAIT QU'IL N'Y AIT PAS EU DE DERAPAGE M'A PERMIS DE PROFITER DES CONCLUSIONS" - VINCENT, KPMG

THE SPEAKERS' POINT OF VIEW ABOUT THE CONFERENCE

 CHUNYAN LI

Philippe Jourdan

CHINA: AN ECONOMY IN TRANSITION

Both speakers started with a reminder of some important economic indicators which are necessary to develop and establish a healthy Chinese economy in the World: a slowing but still positive growth, the recent devaluation of the Yuan but with forecasts that should take into account the political will of the Chinese authorities to reduce their dependence of the dollar (and primarily of the US debt).

Based on this perspective, the Chinese economy is in the transition from a "Made IN China" through a "Made BY China" to a "Made FOR China" culture, although the share of GDP devoted to domestic consumption and expenditure of the Chinese government is still behind compared to those traditionally reserved for investment and net exports.

[CLICK TO ENLARGE]

A LUXURY ECONOMY WHICH IS VERY (TOO) DEPENDENT OF CHINESE TOURIST PURCHASES

In 2000, 10 million tourists traveled the world. During the year 2020, 200 million Chinese tourists are expected to travel abroad. In 2015, they were nearly 105 million to move beyond the Chinese borders. Of course, the first regional destination remains by far Asia. However, while the movements and trips to Hong Kong have recognized a slow-down (in response to the sinophone manifestation of the residents of Hong Kong), the Chinese tourism presents a good performance in France despite its unfavorable security environment. In the end, nearly 77% of the Chinese luxury goods purchases ("personal luxury goods") are realized abroad (24% in Asian countries nearby and 53% outside this sphere).

[CLICK TO ENLARGE]

CHINA: "IT IS ALL ABOUT DIGITAL, IDIOT"

With more than half of the connected population (50.3%), nearly 3h45 spent on average per day on digital networks and 594 million Chinese connected to their mobile phones, the Internet plays a vital and inescapable role regarding the Chinese communication and information research methods. And we go even one step further: with an increasing tendency, the Chinese are getting more and more likely to realize online purchases to such an extent, that the online US trade is expected to be exceeded by the end of 2016 (forecast: $ 371 billion of Chinese purchases against $ 326 billion for the US).

The Chinese digital landscape has obviously its specifics and is very different from the one of the Western countries. For each type of digital application developed in the West (search engines, social networks, networks of micro-chats and micro-blogging, etc.) there exists a Chinese version, which is far away from just being a clone of its Western counterpart. In particular, among all social networks, Weibo, the Chinese Twitter, and WeChat, a combination of Facebook, WhatsApp and Skype, have become the companies’ most preferred promotion tools. They have respectively reached the 222 million and 650 million active users in 2015.

[CLICK TO ENLARGE]

THE CHINESE CULTURE: BETWEEN GUANXI AND MIANZI

[CLICK TO ENLARGE]

According to a Chinese proverb, “Just as a tree needs bark, someone needs his face". The culture of Mianzi ("face") attaches great importance to the various forms of respect, social acceptance and recognition. Everybody lives in and through the eyes of others: a trend of the Chinese elites is therefore to systematically compare themselves to others in terms of both criteria, professional and personal success. Luxury goods subsequently allow the wealthy Chinese to materialize and demonstrate their social status and financial situation to others and thus shape the image they wish to send to those around them (...).

In China, "the formality must be mutual". Indeed, the Chinese highly value social relationships within their close circle, also known as the famous “Guangxi”. Having a good "Guanxi" allows the Chinese to benefit from mutual support and to proceed or solve problems faster. Finally, the favor – also called "RenQuing" in Chinese - can be a real credit or a true debit. Seen from this perspective, offering a valuable gift, no matter if it is a product or a powerful experience also enhances the "face" ("Mianzi") of the interlocutor (…).

THREE GENERATIONS OF LUXURY BRANDS CLIENTS IN CHINA

Nowadays there are three clearly identified generations of luxury goods consumers in China, which strongly differ in terms of their profile, expectations and their luxury experiences.

[CLICK TO ENLARGE]

The first generation is the one of the Baby Boomers. Born between 1950 and 1964, they fully lived in the era of President Mao, wherefore their state of mind is marked by nationalism and idealism and their life shaped through the frugality they recognized during their youth. The Cultural Revolution presents for them a strong reminder of the sustainable weakening of traditional and ancestral values ​​of the Chinese society, whereby some of them reminisce still about the great famine of 1958 to 1961. Being in the position to make decisions and confident about their power, they combine both, power and wealth, which enables them to get everything they want, and of which they were deprived in the first part of their lives.

The second generation is the Generation X (1965-1979). The children of the economic reform, initiated in 1978, were educated by MAO and trained by Bill Gates. This high tension has caused confusion and a certain sense of insecurity among them. This fact represents the reason for their opportunistic behavior and their search and need for material security. They were among the first to consume luxury goods, whereby 60% of them purchase these products to increase their self-esteem. Approximately 80 % of the Chinese private companies are run by representatives of this generation.

The third generation is the Generation Y (1980-1995).  Since their early childhood, people of this generation benefited enormously from the economic reform, without having gone through very difficult times. Generation Y is confronted with a wide variety of consumer choices, wherefore their behavior and habits westernize, although they kept their Chinese roots. Ordering a Big Mac at McDonalds' or a coffee at Starbucks, using the iPhone or iPad to connect themselves to the Internet and chat with strangers, or buying products on WeChat or e-commerce websites, became part of their daily lives.

 THE FRENCH LUXURY BRANDS THAT REMAIN VERY APPRECIATED

The Conference concluded with the presentation of the results of the Barometer Front Row, jointly conducted by Promise Consulting and Exane BNP. This barometer measures for different countries the Exclusivity and Desirability of Luxury Brands in the world of fashion (ready-to-wear, bags and shoes) as well as for the domain of Cosmetics (perfumes, skincare and makeup).

 [TO VISUALIZE THE COMPLETE RESULTS CLICK HERE]

TO CONTACT US

Do you want to know more? Do you have a project on China? Do you want to know our offer on international studies in the segments luxury brands, beauty and selective distribution?

ABOUT PROMISE CONSULTING

Promise Consulting is a company specialized in marketing studies and consultancy, issued from the merge of Promise Consulting Inc., JPL Consulting and Panel on the Web.

Promise Consulting integrates services of market research and marketing consultancy delivered with a high added value. We created an innovative measuring methodology of a brand’s performance and its return on investments (ROI): the “Monitoring Brand Assets ©”. This methodology, deployed in nearly 50 countries, has surveyed 250 brands in multiple sectors, totaling over 1,5 millions questionnaires. 

Established in Paris, New-York and Casablanca, Promise Consulting conducts studies and services of consultancy in the whole world. Promise Consulting is mostly known for its expertise in measuring a brand’s value from the clients’ perspective.

Promise Consulting has developed innovative techniques and models, was awarded 7 times in 10 years, by its Peers nationally and internationally. It provides insights and recommendations to the most notorious brands in luxury, cosmetics and retailing sectors, helping them develop on national and foreign markets. It is also active in several sectors of the industry, every time the brands are looking for an effective growth strategy in order to better understand the market, to reach their customers, attract them and, finally, keep them.

Pr Philippe Jourdan, CEO of Promise Consulting, is the editor-in-chief of Adetem’s journal, the French Journal of Marketing (Revue Française de Marketing, RFM), since 2011. He publishes in academic journals internationally on the problems of the valuation of the brands in luxury, beauty and selective distribution. He also publishes in the economic press and news media (such as Le Monde, les Echos, le Figaro, l’Opinion, la Revue des Marques, etc.). Philippe is a university professor, researcher at the IRG (CNRS) and laureate of the Best Article of Research AFM 2000. He holds a certification in social media.