Italy Fashion Enterprises Are Optimistic About China'S Luxury Market

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Gianluca Brozzetti, chief executive of Roberto Cavalli, said Burberry's earnings warning would not make Mengyin a bright prospect for the luxury sector because China's demand remained strong.

Burberry announced recently that the revenue growth of the company has been greatly reduced due to the slowdown in China's economy and the debt crisis in the eurozone.

It is worrying that the prosperity of the luxury goods industry in the past three years may be drawing to a close.

Stocks of luxury goods companies plummeted on that day.

"We should not be panicked by a company's statement.

They have made some commitments to investors, which may be too radical.

Burberry has not reached its goal... There are two problems with the luxury market. "

Brozzetti said at the Reuters retail and consumer summit.

Brozzetti pointed out that despite the luxury market in China

The growth rate is lower than the peak 20-25%, and demand remains healthy. The peak growth rate is not sustainable.

"(China) people are getting richer and richer.

After they are rich, they want to buy luxury goods to reward themselves, which has not changed.

Brozzetti said that Roberto Cavalli increased retail sales by 25% in the first eight months of this year, and was boosted by 11% growth in new stores and same store sales.

Sales in all markets other than Italy have risen, and Italy accounts for about 15-20% of the company's total business volume.

"

People are worried.

They refused to spend money.

If someone tells you that Italy is in good condition, it must be a lie. "