Richemont Asia-Pacific sales surge 36pc to USD1.57b

Swiss luxury goods group Richemont on Friday announced its unaudited consolidated results for the six month period ended on 30 September 2010.

Sales increased by 37 percent at actual exchange rates to EUR3.26 billion (USD4.41b) from EUR2.38b in the same period last year. At constant exchange rates and excluding the impact of the acquisition of NET-A-PORTER.COM in April 2010, sales increased by 22 percent. Gross profit grew 44 percent from EUR1.46b to EUR2.11b.

LVMH keen on Asian market

Bangkok Post

Asia remains an important region for Hublot, the LVMH-owned luxury watch group, though an anti-corruption crackdown in China has reduced demand. Jean-Claude Biver, LVMH Group president of the watches division, considers market consolidation healthy as it creates a good base to build on.

LVMH views Southeast Asia as a priority market with the potential to exceed both Italy and France.

Versace’s China growth remains robust

Red Luxury

No brand is immune to the luxury slowdown in China, but Versace is still on pace for double-digit growth this year. Despite some rocky times from the death of founder Gianni Versace in 1997 and the 2007 global financial crisis, Versace’s chief executive, Gian Giacomo Ferraris, is leading the company with a steady hand.


LVMH sales rise amid China slowdown

The Wall Street Journal Online

LVMH Moet Hennessy Louis Vuitton SA said Wednesday first-quarter sales rose 4 percent as the group, a bellwether for the luury-goods industry, struggles to adapt to a slowdown in China.

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Luxury sales in China to drop, first such decline since 2004


Luxury sales growth in China’s have been slowing after a 20 percent jump in 2012. Sales are expected to drop by 2 percent for mainland China, which would be the first luxury sales decline in over a decade. The decline is largely attributed to the Chinese government’s austerity measures that have now expanded beyond public officials to businesses.


Luxury handbag firm Mulberry warns on profit again


UK luxury handbag maker Mulberry said full-year pretax profit would be significantly below expectations after a slump in first-half trading added to the disruption of a product overhaul.

Instantluxe launches in China's fast-growing pre-owned luxury market

red luxury

Luxury is no longer about buying and holding. Brand-conscious consumers are reselling their designer clothes and at the same time, buying more for less.

The market for pre-owned luxury goods – apparel, accessories, watches, and jewellery – is estimated at USD19 billion and rising rapidly, according to Claudia D'Arpizio, a partner at Bain & Co. The fastest growing segment is leather goods and clothing, which accounts for USD4 billion of the market.

Is China's luxury growth waning?

red luxury

Strong growth is expected for the global luxury market, but China may be falling short of expectations, according to a new report from Euromonitor.

Euromonitor forecasts the global luxury market to reach USD405 billion by 2019; meanwhile, luxury sales growth in China is expected to moderate to 4 percent this year and 6 percent in 2015. Luxury sales in China had increased 11.5 percent to USD9.6 billion between 2009 and 2014, according to Women's Wear Daily.

Indian retailers take heritage, luxury products abroad

The Hindu Business Line

Rahul Narvekar, CEO,, maintains that despite having a rich heritage, Indians are bedazzled by international brands. “If the choice is between the sari and the bag, most wouldn’t blink an eye to spend on the designer bag. This is killing the market,” he says. To counter the problem, retailers are gunning for international clients, with their higher average selling price and lower return rates.


Vogue China editor: Luxury brands don’t get Chinese consumer

Red Luxury

In the months before Vogue China launched in 2005, there were many skeptics, people who said it would fail because China’s nascent luxury market was not ready for a world-class glossy magazine — consumers there were just not sophisticated enough. At the time, the nouveaux riche were in the grip of bling fever, undiscerningly buying the most expensive goods they could afford in order to show off their success, according to a 2005 report by consultants Ernst & Young.


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