China'S Surge To European Tourists Such As Ferragamo And Other Luxury Brands

Following France After LVMH group announced that its luxury price increased by 8%, Italy Ferragamo group also plans to raise its product prices in the European market in the near future, mainly due to the sharp increase in the number of tourists to Europe and the demand for luxury goods. It is reported that luxury goods in the European market are about 1/3 lower than the price in the Chinese market. Chinese tourists prefer to buy high-end consumer products in Europe, and their purchases account for about 70% of the total sales volume in the European market.

In recent years, sales of European luxury brands in China have been even more modest. LVMH group revealed that sales of Louis Weedon brand in mainland China increased slowly last year. Asia, especially China, has always been the fastest growing region of Louis Weedon, making it impossible for the mature European market to catch up. Now the slowdown in luxury brands is not related to the larger difference between luxury goods at home and abroad. Take LV as an example, the price of LV products in mainland China is 45% to 47% higher than that in France. Tourists can save a lot of money in shopping abroad. This makes the European market divert some domestic sales in China.