Luxury Or Price Adjustment Will Have A Big Devaluation.

The Chinese market occupies a huge position in the luxury brand industry. The reporter has learned that many luxury brands that are heavily dependent on the Chinese market are worried that if the RMB exchange rate continues to fluctuate, it will seriously crack down on the sluggish luxury brand market.

Analysts believe that "the exchange rate or consumer spending power overseas will be shrinking."

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A lot of bags that originally belonged to light luxury have become expensive.

Reporters learned that, in fact, since the euro has depreciated against the renminbi since last year, many luxury brands have launched the global price adjustment strategy. Taking Chanel brand as an example, the price of European market has been raised in March this year, the price increase has even reached 20%, and the market price of the Chinese region has been lowered.

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The industry wanted to raise profits through price adjustment, but did not want to get into trouble again because of the exchange rate relationship.

Dean of luxury goods, President of wealth Quality Research Institute

The luxury brand itself is in a turbulent adjustment period, and the market volatility is not completely affected by the external environment. "The core consumers are fleeing quickly, but the consumers are adding slowly."

"The euro has appreciated nearly 10% a month, and shopping is no longer in hand."

Yesterday was the fourth day of the consumption of Xiaoxi to Europe. She told the Guangzhou Daily reporter that the exchange rate of the euro against the RMB changed every day. "Seeing that the euro rose to 6.7 from the beginning of August to 7.26, I regret not having changed more cash at the beginning of the month."

Yesterday, the offshore renminbi rose to 0.08% against the dollar at 6.4053 yuan.

Affected by the central bank's double fall, the US dollar rose to 95.35 yesterday after a three day plunge, and the euro and yen were also slightly back.

Yesterday, the euro traded 7.2696 yuan against the central parity of RMB, down 1175 basis points, and 100 yen to the central parity price of RMB 5.3557, down 362 basis points.

"Now the euro exchange rate has returned to the level of the beginning of this year."

Xiao Zhang, who is doing purchasing business in Europe, told reporters that "many people are now asking whether there is any spot price before the exchange rate rises, because it will pay 10% more in just a month."

Xiao Wu, a student who has lived in Japan for five years, told reporters that "the Japanese yen has fallen sharply since last year, because I have real estate in the country, and I have to pay the mortgage from the bank card every month. The yen that I earn every month has been shrunk in exchange for RMB. At that time, I had to do some purchasing, because it could receive RMB, at least preserve the value.

But now the yen is rising steadily, feeling better.

Xiaoxi regrets, "the euro appreciation means that I need to spend 10% more on buying a bag in Europe. Is this still a good way to shop?" the preliminary calculations showed that the value of the euro has appreciated by 8% since the beginning of August, and the yen has appreciated by 8.23%.

The euro and yen have been on the decline since last year. Europe and Japan have become the first choice for many outbound tourists.

But consumers who have been to Europe or Japan in recent days regrets that they haven't had a good exchange rate.

Although the euro and yen are rising, commodity currencies such as Australian dollar and New Zealand dollar are still in a downward path.

Yesterday, the Australian dollar to the central parity of RMB reported 4.5792, analysts pointed out that the current commodity currencies are generally empty, this week Australian dollar against the dollar once hit 6 and a half years low, Australian dollar has depreciated 8% in the year.

This has led to tourism and consumption in Oceania.

Some consumers said that at the beginning of the year, the Australian dollar's close to the central parity of RMB was 5, and the 10 day 3500 Australian dollar trip to Australia, the depreciation of 8% was equivalent to saving 1500 yuan.

Liu Dongliang, senior analyst at China Merchants Bank financial headquarters, said the US dollar index fell sharply in the short term, and the euro and yen rebounded strongly, but this should only be a technical change.

In the medium term, the Fed's rate hike is expected to create a strong backdrop of the dollar, and the continued rise in risk aversion in the global market is expected to push the US dollar once again strong. During the global and local financial crisis, the US dollar has shown good performance, and I believe that this round of shocks will not be an exception.

He said that under the common pressure of RMB depreciation and the strengthening of the US dollar in the international market, the willingness of domestic enterprises and residents to hold foreign currencies continued to rise, and the demand for foreign currency financing of banks increased significantly, which will bring certain tests to the asset allocation ability of Chinese banks in foreign currency financing.