The Stronger US Dollar And Slower Economic Growth In China Make It More And More Difficult To Make Luxuries.

The US dollar has strengthened, China's economic growth has slowed down, and frequent attacks of terrorism have been made. Luxury goods The group suffered a lot.

Luxury goods are becoming more and more difficult. Prada, LVMH, Richemont and Burberry all say so. Now, even the Kering, a promising industry, is showing signs of weakness, with its sales growth in the first quarter falling short of analysts' expectations.

The world's third largest luxury group owns Gucci, Saint Laurent, Balenciaga, Brioni and so on. brand 。 In the 3 months ending March 31st, sales of 2 billion 700 million euros increased by 2.7% compared with the same period last year, but it still has a very short distance from the analyst's 5% increase.

In the case of Kai Yun, Gucci has always been the biggest star brand in its revenue share. Under the leadership of the current creative director, Alessandro Michele, Gucci has earned a lot of praise in the media and the market. However, its revenue growth curve is not as obvious as Hedi Slimane's take over as Saint Laurent. Compared with the same period last year, Gucci's first quarter sales increased by 3.1%. Barclay and Royal Bank of Canada have given growth expectations of 5% and 6% respectively.

What is even more surprising is that Bottega Veneta, which has performed well in previous quarters, and ranked second in the revenue rankings, has seen a negative growth of 8.3%. Jean-Marc Duplaix, chief financial officer of Kai Yun group, admitted: "Bottega encountered strong headwinds in the first quarter." In his view, the main factors behind it were the terrorist attacks in Paris last November, the strong exposure of brands in Hong Kong and Macao, and the recent advance of the US dollar. It is reported that Bottega Veneta is in the stage of spanformation, the goal is to shift the focus back to the local market and increase the entry level. Leather goods Products.

Kai Yun's "other luxury goods" fell 2.9% year-on-year, with different brands. Stella McCartney, Alexander McQueen and jewellery are not enough to offset the weakness of watches and Italy menswear brand Brioni.

A glimmer of light from the dark cloud came from Saint Laurent, which sold 268 million euros, an increase of 27.3% over the same period last year. Hedi Slimane's final season design is expected to be on the shelves this autumn, and his successor, Anthony Vaccarello, will also release her first series of Saint Laurent.

Kai Yun group's luxury revenue rose 2.8% in the past three months to 1 billion 800 million euros, while sports and lifestyle products recorded an increase of 2.6%. Among them, Puma grew by 10% over the same period last year. The Fenty shoelace sports shoes launched jointly with Rihanna were strongly reacted to the market in February this year, but the specific sales figures still need to wait for the statistics released by the brand in a few weeks.