Top luxury brands from China !
These 6 Chinese Brands Made Deloitte’s Luxury Goods Power List
6 luxury brands from China have designed the “Global Powers of Luxury Items 2017,” the list of your world’s leading fifty luxury merchandise companies, which was just revealed by consultancy company Deloitte. Topped by luxury conglomerates LVMH Moët Hennessy Louis Vuitton and Kering Group, the record ranks the a hundred biggest luxurious goods providers dependent on revenue from the fiscal 12 months 2015.
Every one of the six mentioned companies inside the Greater China location, which includes mainland China and Hong Kong, are jewelry organizations. The Hong Kong-based Chow Tai Fook Jewelry Group was put the ninth over the record, beating Rolex, Hermes, and Tiffany & Co. Lao Feng Xiang was next in 13th place followed by Chow Sang Sang (25th), Luk Fook Holdings (28th), Eastern Gold Jade (36th) and Zhejiang Ming Jewelry (48th).
According to the Deloitte report, which is in its fourth iteration, China as a region, represented within the listing by the six above-listed firms in China and Hong Kong, experienced a 2.4 percent decline in product sales in FY 2015. Thus, the region performed the poorest among the eight geographic areas over the list, the others being France, Germany, Italy, Spain, Switzerland, the United Kingdom and the United States.
Chinese celebrity Liu Jialin at a public event for Chow Tai Fook.
Breaking down the performance of each company, sales of Chow Tai Fook dropped 11.9 percent from the yr before, causing its position go down two places (it was 7th last yr). Chow Sang Sang, Luk Fook Holdings and Zhejiang Ming Jewellery were also loss-makers, with FY 2015 luxury items income dipping 1.2 percent, 8.9 percent and 23.4 percent, respectively.
About the other hand, the Shanghai-based jeweler Lao Feng Xiang, a century-old brand that owns a store on 5th Avenue in New York’s toniest shopping district, saw growth in income by 7.9 percent. The best performer while in the team was Chinese jeweler Eastern Gold Jade (a domestic company engaged during the jade and gold business), which moved up 17 places from its previous ranking. Deloitte wrote that “growth was driven by a rebound in jade wholesale and growth in investment demand for gold bars.”
Huge investment in Digital in China
The overall weakness on the 6 models was driven by a number of factors including the strong US dollar, economic slowdown in China, a constant sluggish retail landscape and continued decrease within the tourism industry in Hong Kong and Macau. In spite of that, Chinese consumers, along with the counterparts in other emerging economies such as Russia and the United Arab Emirates, the report said, have continued to be the most important buyers driving luxury products consumption around the world.
The same report also cited the currency volatility as the main reason for the broadly positive product sales growth while in the luxurious sector in FY 2015. In total, the world’s 100 premier luxury products companies saw a 3 percent growth rate. However, the impact of currency on firms in each area depends within the currencies they use to settle their companies. In general, those companies who use depreciating currencies, such as the Euro and the Swiss Franc, tended to benefit from the trend; while international gross sales of most on the US-based organizations suffered from the rising greenback.
Italy, once again, led the record with the greatest number of organizations, while France dominates in terms of share of gross sales. In the meantime, companies that have multiple luxurious lines almost doubled their growth, compared to the previous yr. Bags and accessories continues to be the fastest growth sector.
The fourth annual Global Powers of Luxury Items report examines and lists the a hundred greatest luxurious goods businesses globally, centered within the consolidated income of luxurious items in FY2015 (which we define as financial years ending within the 12 months to 30 June 2016). It also discusses the key trends shaping the luxury market and provides a global economic outlook.
The world’s a hundred most significant luxurious products providers generated sales of US$212 billion in FY2015, 4.5% down year-on-year, and the average luxury goods annual revenue for a Prime 100 company is now US$2.1 billion.
Consumers in emerging markets continue to drive luxury market growth. In China, Russia and the United Arab Emirates, markets that we have categorized as emerging luxury markets, the percentage of consumers claiming to have increased their spending from the last 5 years was 70 percent, compared to 53 percent while in the more mature markets (EU, US and Japan).
Travel and tourism is still the great growth opportunity for the luxurious sector. Almost half of luxury purchases are manufactured by consumers who are traveling, either in a foreign market (31%) or while at the airport (16%).
Key findings from the report include:
• The leading 4 luxury items companies maintained their positions around the leader board.
• Consumers are clear that they see the future of luxury as digital. Over 37% surveyed feel that luxury products and technology will become more closely linked. Digital channels are creating a need for large-scale, high-quality personalized content.
• Luxury products product sales growth is accelerated by currency volatility-sales for the world’s 100 greatest luxurious items organizations grew by more than 3 percentage points in FY2015. Most currencies weakened significantly against the US$, which benefited many multinational companies based in other regions who experienced favorable currency effects, driving up reported gross sales.
• Italy is once again the leading luxurious merchandise country in terms of number of organizations, while France has the highest share of sales.
• Companies in the multiple luxury goods sector nearly double sales growth — compared to the previous 12 months and leads profitability, while bags and accessories continues to be the fastest growth sector.
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