Ok

En poursuivant votre navigation sur ce site, vous acceptez l'utilisation de cookies. Ces derniers assurent le bon fonctionnement de nos services. En savoir plus.

luxury - Page 14

  • Jimmy Choo bucks Chinese slowdown in luxury sector [#luxury #china #shoes]

    From: John Murray Brown

    Jimmy Choo, the UK-listed shoemaker, shrugged off the slowdown in the Chinese economy, as new store openings boosted total sales by 7 per cent in 2015.

    The high end footwear brand, made famous by the US sitcom Sex and the City, said sales rose from £300m to £318m in the year to December 31.

    [READ MORE]

     

  • [#China #Luxury]- China’s millionaires prefer Apple and Chanel as luxury gift spending rebounds

    After a double-digit slump in luxury gift spending among China’s wealthy over the past two years, their gifting was on an uptick  in 2015, according to Hurun Report’s recently released annual Chinese Luxury Consumer Survey.

    The survey of 458 individuals with a net worth of 10 million RMB (US$1.52 million) or higher found that luxury gift-giving by men increased 15 percent and by women increased 24 percent over the past year. This increase marks the beginning of a rebound from a two-year decline totaling 30 percent that was reported in last year’s survey.

    While luxury gifting is often associated with corruption in China, the spending increase occurred even as the Chinese government’s anti-corruption campaign continued over the course of 2015. The report comes at a time when some brands are saying they’ve been seeing a slight recovery in mainland China sales—last week, both Burberry and Richemont reported that the mainland returned to growth in the three-month period ending in December.

    [TO READ MORE]

    [TO READ ON THE SAME SUBJECT]

  • [#China #luxury #tourism]- Chinese millennials are increasingly rejecting group tours when they travel abroad

    As China’s outbound travel market reached 109 million people in 2015, trips abroad became more personalized, independent, and focused on meaningful experiences than ever before.

    According to a new annual study by GfK released last week, Chinese outbound travel growth has been massive, with retail spending of US$229 billion in 2015. This trend has reached destinations across the globe, which have seen astounding growth rates in the past five years—South Korea has seen its Chinese visitor numbers increase by 112 percent, Thailand 263 percent, Japan 157 percent, Europe 97 percent, North America 151 percent, and the Middle East 177 percent—just to name a few.

    These significant increases have been driven by the independent millennial age group, according to GfK, which states that 50 percent of China’s outbound tourists are between 15 and 29 years old. This group’s values are having a profound impact on the travel industry as their tastes shift from being those of “tourists” to “travelers.”

    [READ MORE]

  • [#China #Bain]- Chinese luxury spending shifts further abroad with 2% domestic decline

    BAIN: CHINESE LUXURY SPENDING SHIFTS FURTHER ABROAD WITH 2% DOMESTIC DECLINE

    After heading into the red last year amidst a market slowdown, China’s luxury market decline sunk even further in 2015, according to Bain & Company’s annual industry report.

    As Chinese consumers continued to opt to make their luxury purchases abroad, Bain found that  the value of mainland China’s luxury market declined by 2 percent to 113 billion RMB in 2015. The decline was driven by large slumps in men’s watches, clothing, and leather goods, says the report.

    The bright spot for the global luxury industry remains Chinese spending overseas. Although China’s economic growth is slowing and the country’s anti-corruption campaign continues, Chinese consumers still upped their luxury spending abroad by 10 percent in the past year. Japan was a main beneficiary of this trend, with the report stating that Chinese luxury spending in the country increased by over 200 percent. Favorable exchange rates and lower prices also made South Korea, Europe, and Australia popular shopping destinations, while spending in Hong Kong and Macau dropped by one-quarter.

    This increase in travel spending didn’t lead to an increase in daigou shopping, however, which is likely a welcome development for luxury retailers. According to Bain & Company, the daigoumarket contracted to become worth about 43 billion RMB after being hit by efforts to contain it, including increased customs restrictions and a weak RMB. In addition, cross-border sales websites contributed to the daigou decline, and accounted for 48 billion of 293 billion RMB spent by Chinese consumers on luxury overseas in the past year.

     

    Lire la suite