Major Luxury Group 2018 Annual Report Summary

The global apparel industry hit bottom in 2016, began to pick up in 2017, and continued the recovery trend in 2018. New retail In the new environment, new technologies and new marketing methods pour in. Clothes & Accessories Industry, the apparel industry has also shown a more positive trend. Among them, online sales continue to accelerate growth, and public consumption is warming up.

According to the 2018 global luxury industry research report released by Bain consulting, the global market in 2018 shows that Luxury goods The market is growing rapidly, and Chinese consumers are leading this trend. The performance of the luxury market in 2018 is still remarkable. The report shows that the global luxury market sales (including luxury and luxury experience) increased by 5% to 1 trillion and 200 billion euros at a constant exchange rate. Each subdivision has a positive growth trend, among which the personal luxury market is particularly prominent, with sales growth of 6%, reaching 260 billion euros, indicating that the individual luxury market has entered the "new normal" era.

Let's take a look at the 2018 annual report released by the major luxury goods groups.

Kai Yun group

According to the annual performance report released by Kai Yun group, with the promotion of the core brand Gucci, the annual sales of Kai Yun group rose 29.4% to 13 billion 665 million euros in 2018 compared with the same period last year, operating profit rose 46.6% to 3 billion 944 million euros, while the luxury sector revenue grew by more than 20% in the 8 quarter. The growth rate has obviously exceeded the 15% increase of last year's sales of its fashion leather Department of its rival LVMH.

By Region:

China's Asia Pacific region grew by 34%, and the North American market registered a strong growth of 38%. Sales growth in Western Europe, Japan and other regions was 24%, 24% and 23%, respectively.

Among them, Gucci sales rose 36.9% to 8 billion 285 million euros year-on-year, the first time in the history of 8 billion euros club, brand operating profit rose 54.2% to 3 billion 275 million euros over the previous year, further consolidate Gucci's leading position in the global luxury industry.

The annual sales volume of Gucci wholesale channel increased by 30.7%, and the direct retail channel increased by 38.3% year-on-year. It was mainly driven by an increase of 70% in online sales. The retail sales in Asia Pacific and North American markets, including China, increased by 45% and 43.6% respectively.

Hermes group

French luxury group Herm (s) announced its fourth quarter and full year earnings in fiscal 2018. Benefiting from the outstanding performance of the brand classic bag in the world, especially in China, year-on-year sales as of December 31, 2018 increased by 10% to 5 billion 966 million euros, a record high.

By Region:

Asia (excluding Japan): sales grew 13.7% to 2 billion 142 million euros, mainly benefiting from strong sales growth in China and East Asia. During the period, the brand opened a new store in Landmark Prince, Hongkong, Changsha, Xi'an and Australia Chadstone; Shanghai IFC and Singapore's Binhai Bay Sands (Marina Bay Sands) store were renovated and renovated.

Japan: sustained growth, sales grew 7.5% to 748 million euros over the same period.

Americas: maintain growth momentum, sales grew 11.5% to 1 billion 58 million euros. In May, there were thirty-fourth American stores in Palo Alto, the center of Silicon Valley.

Europe (excluding France): sales grew by 7.5% to 1 billion 106 million euros, especially in the UK and Italy.

France: Despite the negative effects of the political movement at the end of the year, sales in France still increased 6.3% to 802 million euros over the same period. The three storefront store in George V, Paris, was reopened in November after renovation and expansion.

LVMH group

The French luxury goods giant LVMH group released its 2018 annual performance report on Wednesday, driven by strong performance in fashion and leather goods sectors, operating profit grew 21% to 10 billion euros over the same period. The fourth quarter sales increased by 10% compared with the same period last year. This good spancript relieves the industry's worries about the slowdown in China's luxury market.

As at December 31, 2018, the core financial data for LVMH 2018 fiscal year are as follows:

Sales increased by 10% to 46 billion 800 million euros, up 11% from the same period last year.

Excluding the impact of the closure of Hong Kong International Airport DFS boutique duty-free shopping mall at the end of 2017, annual sales increased by 12% compared with the same period last year, while the fourth quarter sales grew by 10% over the same period last year.

Operating profit increased by 21% from last year to 10 billion euros.

Operating profit margin increased by 1.9 percentage points to 21.4%;

Net profit rose 18% to 6 billion 400 million euros compared with the same period last year.

Louis Vuitton (LV) has performed well in all its category and regional businesses. Its iconic leather business, as well as its clothing and footwear business, has been continuously revitalized under the leadership of women's fashion design director Nicolas Ghesqui re re and menswear design director Virgil Abloh. The high quality development of brand stores continues in a very cautious way.

Coach parent Tapestry group

Tapestry Inc., the US luxury light group, announced its second quarter earnings for the fiscal year of 2018/2019. Its sales and profits grew by double growth. However, it was undervalued by the macroeconomic and geopolitical impact. The group also lowered its annual performance expectations. As of the second quarter of the 2018/2019 fiscal year ending December 29, 2018, the core financial data of Tapestry are as follows:

Sales grew 1% to $1 billion 800 million, down from analyst estimates of $1 billion 860 million.

Operating profit fell 2% to $402 million.

Net profit increased three times to more than $255 million, compared to $63 million last year.

Earnings per share were $1.07, below analysts' expectations of $1.11 / share.

Core brand Coach sales increased by 2% to $1 billion 250 million, while Stuart Weitzman sales increased by 3% to $124 million, but Kate Spade sales fell unexpectedly by 1% to 428 million US dollars, while the expected growth was 11% to 485 million dollars.

In 2019, Tapestry plans to add 50~60 stores to Kate Spade, add 30 stores to Stuart Weitzman, and the vast majority of stores will be located in China.

Michael Kors parent Capri group

The US luxury group Capri Holdings Limited (original Michael KorsHoldings Limited) released the key financial data for the third quarter of the 2018/19 fiscal year.

According to the world clothing and shoe net, the key figures of Capri group are as follows: the third quarter of the 2018/2019 fiscal year ending December 29, 2018.

Sales amounted to $1 billion 440 million, unchanged from previous levels, and increased by 1.1% year-on-year at the fixed exchange rate, which was lower than analysts' expectations of $1 billion 460 million, mainly due to poor sales of Michael Kors brand stores.

Gross profit was 873 million dollars, gross profit margin was 60.7%, gross profit last year was 884 million dollars, gross profit margin was 61.4%.

Operating profit was $290 million, operating profit was 20.2%; operating profit and operating profit margin were 314 million US dollars and 21.8% respectively in the same period last year.

Net profit was $200 million, diluted earnings per share were $1.33, net profit for the same period last year was $219 million, and diluted earnings per share were $1.42.

Adjusted net profit of $265 million, diluted earnings per share of $1.76, higher than analysts previously earnings per share of $1.58 is expected; last year net profit of $273 million, diluted earnings per share of $1.77;

By brand:

Michael Kors retail channel sales fell 1% to 838 million U.S. dollars over the same period, down 2.4% compared to the same period last year, and fell 1% according to the fixed exchange rate, which was in line with group expectations, but slightly lower than that of analysts who had fallen 2% year on year. Wholesale channel sales fell 8.3% to 395 million US dollars year-on-year. Authorized business sales fell 9.9% to $43 million 500 thousand.

Sales of Jimmy Choo amounted to $162 million, compared with the median sales growth before the brand was acquired by Capri.

The operating profit was US $5 million 500 thousand and the adjusted operating profit was US $16 million 400 thousand.

The Group expects Versace sales to reach US $130 million.

Moschino parent Aeffe group

In the 12 months ended December 31, 2018, the sales of Italy luxury brand Moschino parent Aeffe group increased by 10.9% to 346 million euros compared with that of fixed exchange rate, an increase of 11.2% over the same period. By region, sales in Asia and the rest of the world increased by 23.2% to 80 million 90 thousand euros compared with the previous year, with the strongest performance in the Greater China region, with a 27.8% increase in sales, and an increase of 10.7% to 168 million euros in the Italy market. In addition to Italy, the European region grew 4.5% to 80 million 300 thousand euros over the same period last year, while the US area decreased by 4.8% to 17 million 710 thousand euros compared with the same period last year.

Ralph Lauren

Us fashion group Ralph Lauren Corporation 2 announced the 5 quarter of the third quarter of 2018/19 fiscal year on December 29th. In the third quarter of the year ending 2018/2019, the core data of Ralph Lauren are as follows:

Sales revenue increased 5.1% to $1 billion 700 million over the same period, higher than the average forecast of US $1 billion 660 million, which benefited from the positive growth of all markets, and the negative impact of Foreign Exchange Volatility on sales revenue growth by 1.2 percentage points.

Net profit of $120 million, diluted earnings per share of $1.48, adjusted earnings per share of $2.32, higher than analysts had expected earnings per share of $2.15, a diluted share loss of $1 during the same period last year, adjusted earnings per share 2.03 U. S. dollars.

By market:

North America: Sales of US $909 million, an increase of 3% over the same period last year.

Europe: sales amounted to US $415 million, an increase of 10% over the same period last year.

Asia: Sales of $275 million, an increase of 10% over the same period, and comparable store sales increased by 4% over the same period last year. Asia is the only market that has not yet reached the expected level.

Tod 's

Italy luxury group Tod 's SpA released key financial data for fiscal year 2018. Due to poor sales in Italy and Europe, sales in fiscal year 2018 dropped 2.4% from 940 million to euro.

By brand:

Core brand Tod 's sales fell 3.3% from a year earlier to 499 million euros, a 1.2% decline from the same exchange rate, and good sales in the Americas and Asia. Sales in Europe were affected by political reasons, reduced tourists and Italy's economic instability.

Hogan sales increased by 1.1% to 206 million euros, up 1.8% from the same period year-on-year, according to the fixed exchange rate. The weak market in Italy has had some impact on the brand sales.

Roger Vivier sales fell 3.2% to 174 million euros compared with the same period last year. It fell by 0.2% over the same period, unchanged from the fixed exchange rate. The sales situation has changed. The new products designed by the designer Gherardo Felloni have been widely praised, and the Asian market is in good condition. However, due to the decrease of tourists, the sales situation in the European market has been affected.

Fay sales fell 3.5% to 61 million 300 thousand euros, down 3.4% from a year ago, mainly due to weak local sales in Italy.

Canada Goose

Although the HUAWEI event was once facing the risk of being boycotted by Chinese consumers at the end of last year, the Canadian luxury feather brand Canada Goose continued to grow. Sales in the third quarter ended December 31st surged 50.2% to 399 million yuan, and net profit rose 72% to $105 million 300 thousand. Dani Reiss, brand president and chief executive, said in the earnings report that the strong performance of Canada Goose results from the effective global expansion strategy. At the end of December last year, the brand's first flagship store in mainland China opened in Sanlitun, Beijing, which caused consumers to queue up in batches in the same day.

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