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    Chanel Valuation Of 100 Billion Euros! Mainland China'S Demand For LV Is At Its Peak.

    2019/6/10 10:15:00 26

    ChanelLV

    Although China's retail industry fell to its lowest level in 16 years in April, LVMH Mo t Hennessy Louis Vuitton SE (MC.PA) road Wei Ming Xuan, the world's largest luxury group, still said its largest brand Louis Vuitton Louis Weedon's demand in the Chinese market was at its peak.

    Michael Burke, the chief executive of French brand, revealed that the demand for LV in mainland China is still at an all-time high in the two days closed door meeting held by brands and groups and analysts.

    News pushed the French luxury giant up more than 1% in early trading on Friday.

    Previously, both mainland China and Hongkong Statistical Bureau released data showing that sentiment in the consumer market was sluggish, and the retail market in mainland China hit the worst performance in 16 years in April.

    Meanwhile, the luxury goods market in Hongkong has fallen for three months. In April, sales of jewellery, clocks and precious gifts in Hongkong fell 11.4%, the worst in December 2016. Worse still, in the past six months, five of them were negative, with only 4.1% growth in January.

    However, the level of demand in the mainland market does not prove the strong performance of the luxury market. Tang Xiaotang, analyst at No Agency, said that the unusual strength of the mainland market is more likely to be bad news for the luxury market, which often shows that the shrinking consumption of mainland consumers in the travel channel, and the single market prosperity sacrificed by Europe, the United States and the Hongkong market are unhealthy and usually mean retrogression.

    The latest quarterly results show that LV and its biggest rival Gucci Gucci and its brand parent Kering SA (KER.PA) Kai Yun group still have strong double-digit growth performance in 1-3 months.

    In the first quarter of the year, Lu Wei Ming Xuan recorded an organic increase of 17% in the Asian market dominated by China, but this growth was at the expense of the surrounding areas.

    The Japanese market recorded an increase of only 9% in the first quarter. Although the performance of Hongkong and Macao was not disclosed, Jean-Jacques Guiony, the group's chief financial officer, said that Hong Kong and Macao suffered the most serious damage.

    In addition, 8% and 7% of organic growth in the US and Europe also lost in the overall performance of the group.

    Jean-Jacques Guiony also initially denied the possible takeover plan for Chanel SA at the closed door meeting of group analysts. He said that the size of French competitors is a challenge for anyone, and that Chanel's valuation reached 100 billion euros, which is two times the 50 billion euro that the market usually considers.

    Chanel last year's rare public financial data, the market is considered to be a French brand to release IPO or sell signals.

    In 2017, French companies recorded a revenue of $9 billion 620 million, a fixed exchange rate of 11% over the same period, an increase of 16.5% in real terms, an increase of 18.5% to 1 billion 790 million dollars in net profit a year, and a profit of 2 billion 690 million US dollars.

    If true, as Jean-Jacques Guiony said, Chanel's valuation is even higher than the Gucci parent company's 60 billion euro by nearly 70%, close to 60% of the market value of Lu Wei Ming Xuan.

    Michael Burke told analysts at the closed door meeting that the LV brand is preparing inventory and pferring goods from the surrounding market to the strong growth of China's online market.

    In the middle of 2017, LV closely followed the rival Gucci's online business platform in China, and Flavio Cereda, an analyst at Jefferies, said that at present, LV accounted for 8% of China's e-commerce channel sales, and the growth rate of Chinese consumers' consumption in the mainland was two times that of the international market.

    Coincidentally, Gregory Boutte, chief digital officer and chief customer officer of Kai Yun group, also said that the joint venture contract with Yoox Net-a-Porter Group SpA (due to the end of next year) will expire in the investment day activities on Friday. When it comes to the online operation of Bottega Veneta, Yves Saint, Net-a-Porter, and Yoox, it will take up 9.4% of the group's electricity supplier income in 2018. However, the wholesale business of the third party e-commerce platform will be calculated according to the platform retail price instead of the wholesale price of the platform. If wholesale sales are excluded, the proportion of self operated e-commerce providers will be more than 4.7%.

    RBC Capital Markets plus capital market analyst Rogerio Fujimori also said investors should be reassured by LV's performance in the two core markets of mainland China and the United States.

    At the closed door meeting, Michael Burke emphasized optimism about the US business and told analysts that the brand opened third American handbags manufacturing bases in Dezhou.

    According to the analyst, LV, which sells about 10 billion 500 million euros a year, has sold 1 billion euros in men's and women's clothing sales, and hopes that watches and jewellery will be able to reach the water in the next few years.

    However, Tiffany & Co. (NYSE:TIF) Tiffany, who announced its first quarter results at the beginning of the month, said that in the first quarter, the fixed exchange rate in the North American market was 4% lower than that in sales, which was mainly attributed to the continued weak tourist purchasing power.

    Group chief executive Alessandro Bogliolo revealed that the consumption of international tourists in the largest regional market dropped by 25%, which was further deteriorated than in the second half of 2018, while Chinese tourists were the leading ones, but Alessandro Bogliolo did not mention any specific drop.

    At present, 11%-13%'s US retail sales come from tourist expenditure.

    Tiffany's financial reporting cycle lags behind that of Lu Wei hin for a month, which is -1 months in February. Therefore, the difficulty of his experience is more intuitive. Recently, China has issued an early warning of studying and travel to the United States in a row. This makes the first decline of Chinese tourists to the us last year in 16 years.

    After No Agency released its first quarter results in 4 months, it raised the 200 year base of the luxury industry in 2019, from -1-1% to 1-3%.

    However, the agency issued a report earlier this month, saying that the previous increase was based on the settlement of trade disputes. In the middle of 5, the US government persisted in its efforts to import tariffs of more than 200 billion products from 10% to 25%, and further threatened the Chinese and American consumer market. The US retail industry just experienced the most dismal financial crisis in 2008. Considering the environmental contrast, the retail industry outlook is even worse than that in 2008. Therefore, it is necessary to reconsider the expectation in July, which may reduce the expected level of -1-1% growth in the whole year to the end of the year.

    Author: Flower broken

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