Giorgio Armani Group Bid Farewell To Fur In 2016

Thanks to the recession in the Greater China region and the stagnation of European market growth, Italy's Giorgio Armani SpA recorded only 3.7% revenue growth in 2015, a growth rate slowing sharply from 16% in 2014. The Armani growth rate in the region was much slower than that in 2014.

In 2015, Giorgio Armani group earned a total of 2 billion 640 million euros.

Pambianco Strategie di Imprese, a Italy fashion consultancy, published last year's 50 fashion and luxury goods companies listed on the market.

Ranked first in three consecutive years.

Following Stella McCartney and Hugo Boss promise no longer to use

After that, Italy fashion brand Giorgio Armani also joined in the counter.

Among.

The brand announced in its statement that since the 2016 autumn winter series, all Giorgio Armani clothing series will no longer use animal fur.

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American consumers began to treat luxury consumption with wait-and-see status. Many consumers even waited for the discount season to start buying. In the past, the characteristics of "buy and sell" were catalyzed by the reasons of economic slowdown and strong dollar, and turned to a calm and cautious attitude.

To a certain extent, this reflects the prudence of consumers, and it also proves that the main reason for the negative growth of the luxury goods industry in the current fiscal year 2016 is recorded.

At the same time, due to the impact of the US dollar exchange rate, the consumption desire of European and Chinese consumers continued to slump. This report predicts that in the current fiscal year 2016, 35% of the decline will be reflected in the sales volume of these markets, and in the coming days, the decrease may be reduced to 25%.

In the report, it is pointed out that the price of Chinese luxury goods is far higher than that of overseas markets because of the disunity of global sales of luxury goods. Even though some brands have adopted the strategy of lowering prices, the price of Europe and America and the Asia Pacific region still has a gap of 30%, because the Hongkong market has now become a "freezer", which will further reduce the number of visitors to Hong Kong.

At the same time, the increase of European customers has promoted the growth of luxury goods sales in Europe.

However, this trend has also led to a further reduction in luxury consumption in the Chinese market.

In this regard, many luxury brands have chosen to lower market expectations for the current fiscal year 2016.

For example, UBS investment bank reduced Cartire and Swatch group's profit target by 7% and 9% respectively.