Luxury Giant Carrier Turns Head To Russia

< p > the world's luxury giant may lose confidence in the growth of China's luxury market. The British fashion Brand Company chief executive Angela Ahrendts told France's Les Echos echo in October 7th that China's sales slowed down or became normal.

Angela Ahrendts said it is very clear that the luxury market in China is slowing down, but she later said that this does not mean China's economic collapse.

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< p > although the Chinese market is very important, the slowdown is an indisputable fact. Now they value Russia more. Since the fall of the Soviet Union, Russia's luxury market has been one of the fastest growing markets in the world.

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Less than P, the Russian rich helped push up the sale of all luxuries: from fashion and champagne to private tropical islands, the sixteenth Century Venice mansion and Damian Hearst (Damien Hirst)'s works.

In the past 10 years, the retail space of luxury goods in Russia has increased three times to 1 million 650 thousand square meters.

Russian consumers will spend 15% of their income on clothing, which is only 5.6% in Germany.

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"P", according to the bain consulting company, last year, Russians spent 8 billion 800 million euros on luxury goods.

Although China has a large population in the market scale, but in terms of per capita consumption of luxury goods, Russia has reached more than four times that of China.

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"P", Reinhard D D pfer, chairman of the European fashion and Textile Association (EFTEC), said in a Russian media interview that the Russian fashion market has made considerable progress in the past 10 years.

Up to now, the world's luxury goods and fast fashion brands have basically entered the Russian market. According to Euromonitor data, the Russian luxury market increased by 6% to 8 billion 800 million euros in 2012, while the growth rate in 2011 increased by 4.6%. It has recovered from the downward trend of -2009 in 2007, though this is somewhat different from the 2012 growth in the Chinese market, but it is much better than the whole weak European market. Because of the European debt crisis, the luxury consumption in the European market in 2012 has dropped by 1%.

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In May this year, Patrizio Bertelli, the chief executive of Prada, a luxury giant, said in an interview that Russia is the most valued market for Prada in all emerging markets (including China, Dubai, Brazil, Russia and Gulf countries).

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Patrick Albaladejo, deputy general manager of the international group, "P" and "a href=" http://www.91se91.com/news/index_c.asp "Hermes" /a "is more straightforward. With the luxury demand in the Russian market," we see a chance to make a comeback. "

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< p > at present in the Russian market, according to the EU consulting agency data, < a href= "http://www.91se91.com/news/index_c.asp" > Gucci < /a > is the best selling brand. The sales volume of Gucci in Russia in 2011 was 6 billion 740 million roubles, or about 208 million 600 thousand US dollars, which was higher than that of Louis Weedon group's Donna Karan and Louis Vuitton and so on, and the brand of Russia's top five was sold by the company.

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< p > but in Russia, the "a href=" http://www.91se91.com/news/index_c.asp "luxury brand" /a "is also facing the same taste changes of Russian consumers and Chinese consumers. According to Bain research partner Claudia D Arpizio, this is a cyclical problem." although the fast growing consumer group is happy to buy large LOGO handbags and jewelry watches, more mature customers tend to focus on those brands with connotations, materials and techniques. "

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< p > according to the Vika Gazinskaya, the designer of Vika Gazinskaya, the brand name of the same brand has revealed that brand sales have doubled in the past year, and the dress of Vika Gazinskaya is not cheap, and it is also up to 1500 euros.

Other high-end brands in Russia include brand names such as Uliana Sergeenko's brand name, Alexander Terekhov and so on. Uliana Sergeenko is involved in the Paris advanced custom fashion week in recent seasons.

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Yulia Bushueva, managing director of Arbat Capital, a Russian investment agency, said that luxury goods are trying to change strategies to meet the needs of the Russian market, as in the mature market of Europe, P.

Yulia Bushueva said that even in London's Harrods Harold and Harvey Nichols Harvey Nicks department stores, she could not see anything that excited her. "But in Russia, I can easily find some clothes I like."

Hermes Hermes, Chanel Chanel, Louis Vuitton Louis Weedon and Prada Prada have changed the way of franchising in Russia to direct operation last year.

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< p > apart from traditional luxury brands, luxury electric providers also hope to have a share in the growth of the Russian luxury market.

Italy luxury electric business Yoox recently launched the ruble settlement business in the Russian market.

On the Yoox side, there is a strong demand for rouble payments in the market. Now Russian consumers can buy products sold by Yoox through rouble.

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< p > according to the report released by Morgan Stanley, the Russian e-commerce market will increase to 36 billion US dollars in the next three to 2015, while the scale of 2012 will be only 12 billion US dollars. Besides, Russia's e-commerce accounts for 4.5% of the total retail sales. As a traditional country, there will still be room for improvement.

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