The Asian Market Is A Stimulant To Pull The Luxury Market Out Of The Trough.

Recently, Italy Luxury goods maker Prada (Prada) released its financial report and announced its consolidated performance in the past 3 months as of April 30th. The company's quarterly net sales amounted to 687 million euros, an increase of 47.9% over the same period. The sales growth in the Greater China region (mainland China and Hongkong and Macao) reached 53.7% and the same store sales increased 24%.

The rebound in the luxury market seems to be a hot topic this year. financial reports It proves that the luxury goods market has started to go out of the trough. In 2009, the financial tsunami swept the world. Under the pressure of the huge financial crisis, the luxury industry has also been hit by an unprecedented blow. The property reports of major brands and department stores have been released, which confirms the impact of the luxury goods industry straight into the winter.

this time financial crisis Just like a basin of cold water poured directly into the rapidly expanding luxury industry, it not only shrank the market, but also cooled people's consumption enthusiasm. Burberry chief designer, speaking of the impact of the financial crisis on brands, admitted that top brands clothing The price has been over expanding in the past 10 years, and now it is a good time to readjust the price.

The crisis has promoted the reshuffle of the industry. Often, the ability to survive in adversity is huge. Luxury giants begin to think about market problems and turn their heads around. Dr. Sun Yimin, vice president of Management School of Fudan University, said that luxury consumption can be said to be a consumption phenomenon in a beautiful environment. The financial crisis that continues to this day will affect the real income and psychology of some luxury consumers, which will affect the consumption of luxury goods, but the core customers of this industry still exist.

Summing up the recent financial reports released by the major luxury brands, the results are brilliant.

Italy Giorgio Armani (Giorgio Armani) group's financial report shows that as of December 31, 2011, the group's 2011 operating profit increased by 23.2% to 281 million 800 thousand euros, and sales increased by 13.6% to 1 billion 800 million euros. Asia has shown strong growth and sales in China have increased by 45%.

French luxury goods manufacturer Louis Vuitton (LV) released its financial report that the group achieved a record high in 2011, with global sales of 23 billion 700 million euros, an increase of 16% over the previous year and a net profit of 3 billion 65 million euros. Regionally, Asia's sales grew by the most, with an increase of 27%.

Thus, the Asian market has become a hero in this revolution. The so-called Asian market, with its strong inclusiveness and relatively simple luxury sales status and other advantages, has become a "fat meat" that the major brands are fighting for. Facts have proved that the Asian market is indeed a stimulant, pulling the luxury market out of the doldrums in just two years.

But what about the next two years? As the saying goes, "wolf is more meat and less", the environment is changing. How long can this stimulant continue?