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The Luxury Industry Always Succeeds In Stepping Up.

2014/8/2 18:18:00 43

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luxury brand four fashion week press conference, tickets for one ticket are hard to come by. For Chinese journalists, it is past. After the financial crisis, not only hundreds of Chinese reporting groups need not make a fuss, but European and American brands send all kinds of banquet to their mainland market.

if you want to be conservative, you must first change .

in the past, people who want to get rich first are going to reverse the way of marketing in the East and West, and export the brand's history and culture to the Chinese audiences in a short distance. In order to get the favor of Chinese consumers in frequent intercontinental tourism, it is a new easterly westward mode. Even though the Chinese market has suffered the worst year and the prospect is bleak, the Chinese luxury consumption ability has never wavered.

> a href= "http://sjfzxm.com/news/index_x.asp" > luxury goods < /a > the market has been writing the Chinese story for nearly 10 years, the financial crisis hit the European and American markets and the rapid growth of China's economy. Chinese consumers have quickly become the Savior of the luxury market.

Before the 2008 Olympic Games, Louis Vuitton China also made a comment on online protests that "netizens are not the main consumers". Today, European luxury electric providers such as Net-a-Porter and Yoox have landed in China earlier, not to mention that Burberry unexpectedly opened flagship stores in Tmall, a real mass market.

however, most of these changes are passive changes of "tree moving". Just as they become the targets of the capital market from the bankrupt family businesses, their Chinese trajectories are like the United States Department Store in the late 70s and the Japanese Road in the middle and late 80s.

research advisory body Bain & Co. and Italy luxury industry association Fondazione Altagamma issued in mid May jointly released the 2014 spring version of Worldwide Luxury Markets Monitor (global luxury market monitoring) report is more pessimistic, according to fixed exchange rate, luxury goods market in 2014 will increase from 6.5% in 2013 to 4%-6%, this increase will gradually become the norm.

The wail of strong > a href= "http://sjfzxm.com/news/index_x.asp" > industry < /a > can not cover sporadic laughter.

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no one can begin to think of what kind of chemical reaction Affordable will bring in front of Luxury. Even the concept of Affordable is not really given by the American lifestyle brand such as Michael Kors or Kate Spade, but Affordable Luxury has been recognized as the blue ocean in the luxury industry.

the luxury industry also has a story similar to Snapchat and Facebook. Michael Kors, which has a market value of nearly 20 billion dollars, was once a superfluous thing of LVMH. In 2003, Hongkong textile tycoon Cao Qifeng and Canadian joint venture Lawrence Stroll jointly acquired the right of Michael Kors 85% shares. According to the investment bankers of Wall Street, the paction price was only about 100 million dollars, which was equivalent to that of its business at that time.

P Michael, 55, is known as the "lifestyle generation" in the United States before World War II and the first oil crisis. During the 30 years, the overall wealth growth of American society, especially the rapid growth of family income at the bottom of the society, made luxury goods popular in the United States.

At the beginning of the establishment of Michael Kors, the brand was still aiming at high-end market, which only made garments. However, it was very difficult for American brands without luxuries to compete with the history and technology of European brands. Like all legends, Michael Kors was also on the verge of bankruptcy. Instead of Coach, such a parity brand could survive and become the largest leather brand in North American market share.

after Michael Kors became the real Hongkong company, Cao Qifeng used her many years of successful brand management experience to expand the category and sub brand of Michael Kors, and of course had a lower price. This is a very traditional strategy for many Hongkong agents, which means revolution in Michael Kors.

At the end of the 90s, the mobility of American society was greatly weakened, and the growth rate of 99% of the bottom society was far below that of 1% of the affluent. This indirectly caused the 2008 financial crisis to further benefit the Michael Kors brand. Moreover, the designer herself became a household name in reality because of the reality show Project Runway in the United States. Before the end of 2012, Michael Kors grew up to a 1 billion dollar brand.

the success is always stepping on the corpse /p >

In the year and a half, the price of IPO Kors Michael Kors increased by 4 times, and the highest price reached 101 dollars. In the 2-8 months after the first full financial year in 2013, the price of Michael Kors has been hovering around $60. In the first quarter of August 6th, the earnings of the same store, the growth of 54.5% revenue, 82% and 79% net profit and EPS growth made Michael Kors share price rapidly break through 70 dollars and rise at about $80. 20

traditional luxury goods always sell with history and quality. Compared with Affordable Luxury, the price performance and fashion certainly have certain advantages in raising prices, but in the post financial crisis era, the cost performance is obviously able to capture more mass consumers.

Berkeley, a professor of economics at the University of Emmanuel, and a 2009 Clark prize winner, in 2013, released a pre tax income report in the US, showing that the pre tax income of 99% of the bottom families in the United States dropped sharply before the financial crisis. The growth rate in 2008 -2012 was also extremely flat. On the contrary, the wolf in Wall Street was affected by the financial crisis very little, which caused the Gini coefficient of the United States to increase.

The report on income inequality and redistribution of developed countries in 2013 Janet Gornick shows that the Gini coefficient of the developed countries is 0.57, which is at the middle level in the developed countries, but 0.42 after tax. The decline in disposable income of the middle class families makes the brands such as Michael Kors and Kate Spade win the competition with traditional luxury brands such as Louis Vuitton and Gucci. The price of the former is about 400 dollars, and the latter's entry price is 1000 dollars. In the case of the Chinese market, Louis 30 classic canvas 30 canvas bag sells for more than 10 thousand yuan, while the price of the medium or large handbag of the brand of the line is less than 5000 yuan.

The growth miracle of Michael Kors promotes the concept of Affordable Luxury, but if the price is the only criterion, the earliest Affordable Luxury brand should be its competitor Coach, while Coach's conservative gives Michael Kors more opportunities to shine.

In the past 1 years, the North American market, which accounts for about 6 of Coach, is being eroded. According to Citibank's latest report, Coach's share of handbag Market in North America is still the highest, but has fallen from only half of its peak to just 22%, followed by 9.2% of Louis Vuitton and 9% of Michael Kors, and 2.2% of Kate Spade. The latter two are the most direct competitors of Coach as Affordable Luxury, and the same trend has been shown in the North American market handbag product report released by investment bank in January.

if the traditional luxury goods have to sacrifice to maintain the premium of the brand, the decline of Coach can only be deserved.

Holding a single leather product and repeating the old design, hoping to rely on the inherent leading position and obviously less than the development of the times, there are too many giants in the history, and most of the Affordable Luxury brands will adopt the fashion trend elements. They will even take the "plagiarism" curse and attract customers with the advantage of low price popularity. Besides the main leather products, they also produce glasses, watches, shoes, jewelry and all other peripheral products, even including home furnishing, providing one-stop service and experience is naturally popular.

man is not as good as /strong.

The Chinese strategy of "P to the two or three line" of traditional luxury goods stopped abruptly in 2013. The dual pressures of politics and economy made the strategy lose money. The high cost of store construction could not match the growth rate, but also affected the exclusiveness of the brand. The corruption habits of the Communist Party benefited a lot from luxury goods. In the end of 2012, almost all luxury brands CEO said that China's anti-corruption would gradually fade along with the smooth pition of the leadership.

Bernard Arnault would not have thought that Miachel Kors is now a legend of retail stocks, otherwise he will not sell 33% of the shares, and may continue to increase holdings and holdings, just as he does now for the Marc Jacobs brand.

When Cao Qifeng bought the Michael Kors, he would never think of the brand's glory today. Without the financial crisis, maybe a $4 billion target of market capitalization has been successful.

external factors often exceed the brand operators' grasp, and the result is the above two.

Affordable Luxury is not completely able to eat in the future. Bernard Arnault has always been reluctant to return Affordable Luxury to Luxury, perhaps with personal regret and jealousy. However, its "iPhone will be out of date, and Dom P rignon has people to drink" argument still has its realistic foundation.

Louis Vuitton and Gucci, although these two giants are in a low performance, it is very difficult to fall rapidly like Coach. Their brands still have great symbolism. Even if their products are easy to imitate, their brand history and cultural heritage can not be replaced. This provides the brand with a lasting story, and Affordable Luxury does not have these.

Michael Kors is relatively cost-effective than traditional luxury goods, but its price still has room for decline. For example, its production in China, the Private Companies is responsible for the production and operation mode of the Chinese market by shareholders. If the trademark is authorized or a new subsidiary or brand is set up, 50% of the products are imaginable, and there are also some examples to follow, such as the blue and black logo of Burberry in the Japanese market, and the Valentino that has been everywhere in the Chinese market.

These changes are naturally lagging behind in the healthy development of the brand, but the financial crisis will also be staged, new brands will also be born, and miracles are likely to occur at any time. When a brand is at its end, it may be out of the question.

the change of the luxury industry is more sensitive to the economic response. The consumption of non essential goods has become a reward in the good times. The bad times are burdens. The retail industry has been advocating the innovation of Zara's fast fashion products, such as updating shelves, logistics and warehousing, but ignoring its price positioning. Until the financial crisis, the popularity of the cheap clothing brand Primark is no more than two.

At present, whether the developed countries in Europe and the United States or the once BRICs concept countries are shrouded in pessimism, the development of the capital market and the extreme greed of the financial industry and human nature make the living space of the public more cramped. Even the brands like Uniqlo think they will consider making cheaper clothing to meet the needs of the consumers in the lower level cities, so it is not difficult to imagine that the pattern of the luxury market will be changed.

The only good news for the luxury market in 2014 P may be that Moodie was elected Prime Minister of India. The declining India was once highly regarded by the luxury goods industry. The revival of India's economic growth to bring "another China" to the luxury market is a great expectation. However, its tough political image is likely to add another tense geopolitical situation to Ukraine and the South China Sea. Of course, history is unpredictable.