Bvlgari'S Wrist Watch Market Is About To Break New Strength.

In LVMH's latest quarterly earnings report, Bvlgari, the glistening jewellery watch brand, is preparing to bet on the US market.

Jean-Christophe Babin, the brand's chief executive, puts it: "I think the United States is one of the most potential growth markets.

The CEO, who took office in 2013, is not without reason.

Compared with the Chinese market, which has been stranded in the economic downturn, combating corruption and buying popular in the past two years, the US market has become the top tier seeking aid for luxury brands.

LVMH said again in its third quarter earnings report recently, "quarterly revenue increased by 7%chr (34) in the European and US market.

It depends on the stability of the luxury market in the United States, even though the wine and spirits business that has been defeated in the Asia Pacific region has gradually emerged from the haze.

In fact, with the recovery of the US economy, local luxury goods consumption has been restored to the level before the financial crisis as early as 2013.

Such a decision is upstream.

Swiss watch's exports in the third quarter fell by 8.5%, the biggest quarterly decline since 2009, according to data released by the Swiss Federation of watch industry in late October.

Although most of the remaining watch competitors are more cautious, "we rarely raise the watchmakers in the turbulent situation," Babin added.

Another factor contributing to luxury consumption in the US market can not be ignored, tourism.

In order to successfully occupy the consumption of tourists from other countries, the United States has also formulated policies to reduce visa processing time.

At the end of last year, China's visa application to the United States was relaxed to 10 years.

According to US State Department data, the number of Chinese applicants for US visas has increased by nearly 50% since the implementation of the new visa requirements in 10 years.

The US National Tourism Administration said that China has become the fourth largest source country of inbound tourism in the United States and is expected to reach the first in 3 years.

At the same time, the influx of Chinese tourists has brought great economic effects to the United States, with per capita spending more than 6000 US dollars / time, nearly 40 thousand yuan.

Even in the case of a rise in the dollar affecting the willingness of Chinese tourists to pay,

It is still the world's largest luxury consumer market.

Bain Consulting's latest 2015 Global Luxury Market Research Report shows that sales in this market have reached US $87 billion 100 million (about 553 billion 940 million yuan).

From a numerical point of view, New York

Revenue is higher than Japan.

"Taking into account the current status of luxury goods,

It is very reasonable to choose 18 cities in the US.

But the question is, is the store in the best shopping malls? "Jean-Christophe Babin talked about the layout of stores." for us, the challenge is to protect profits while mining potential markets.

So how to find a balance between investment, loyalty and profit is very important.

Compared with most luxury brands entering the US market, Bvlgari's strategy is to optimize existing stores.

Over the past two years, the jewelry watch company has refurbished many stores in the United States, including Bar Harbor and Ala Moa's shopping mall.

Soon, Bvlgari will start decorating its flagship store on Fifth Avenue.

Babin declined to disclose the growth plan of the US market, but hoped that global growth could reach two digits.

In his view, the second category of brand watches may become a strong profit point, and Bvlgari 1/5 sales are contributed by it.