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French "Old Buddha" Luxury Goods Sell More In The Financial Tsunami

2008/11/15 9:29:00 22

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It is hard to imagine that after the financial tsunami swept across Europe, luxury business became more prosperous.

Recently, the French luxury brand Louis Weedon group announced the recent business situation, the first week of October revenue unexpectedly increased 12% over the previous week, and thereafter has varying degrees of growth.

Almost at the same time, Hermes announces that profits will be greatly reduced by the financial crisis.

What's going on here?

With doubt, last weekend, reporters visited many luxury goods concentrated areas in Paris.

On the famous Osman Street department store, luxury goods such as LV, Prada, Gucci, and Hermes are displayed on a large scale, and shoppers from all over the world are shuttling on the floors.

What's interesting is that the department stores rarely broadcast in French, and basically tell Japanese shoppers where they should go for tax refund and other related information.

Compared with last year's memory here, we feel that the relevant elements in shopping malls and Japan, China, Russia and so on become more.

After renovation, China's customer reception is also a new decoration.

Apparently, Lord Buddha earned a lot of money on Chinese tourists.

The hotter thing is the second-hand store in Paris.

In the shopping district of Paris, there are many shops that buy and sell second-hand luxury goods, especially large ones, which are more popular among shoppers.

A classic LV backpack that has only been bought for 3 months is priced at about 600 euros in a second-hand store in St. Paul's street, Paris, almost half the price of the new product.

This small second-hand shop is surging on weekends.

"It is mainly white-collar workers who buy things."

Shopkeepers said that in the last two months, their turnover increased by 50% compared to the financial tsunami, and the number of people who came to sell their idle luxury goods also increased significantly.

"When the economy is good, people sell their old bags and buy new bags. When the economy is bad, people sell their spare bags and recycle cash."

In the rapidly changing fashion Paris, visiting second-hand stores has become a habit.

Such consumption patterns have also gradually formed in Hongkong, and spread to cities such as China and Shanghai.

So where is the impact of the financial tsunami?

Obviously, European consumers have less money to buy luxury goods and are more worried about the future economic situation.

They began to look for cheaper luxury goods, so the second-hand store business suddenly became better.

And when Iceland's currency depreciates and luxury prices are almost the lowest in the world, tourists from the European continent get together to buy in Iceland.

Luxury goods are still booming in Asia, which is relatively less affected by the financial crisis.

This is also the reason why the old people who focus on Asian elements are still surging.

However, it is not surprising that Hermes has focused on Europe and America because of its business.

The luxury industry can still grow in the financial tsunami, and the keen sense of business and the support for derivatives industry are worth learning from other industries.