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Global luxury market set for slower growth: study

Agence France-PresseMay 17, 2013 18:03
The global luxury market will grow by a relatively modest 4-5 percent in turnover this year compared to the 10 percent expansion seen in 2012, a study released on Thursday by research consultancies Bain & Company and Fondazione Altagamma showed. "We are seeing a more even distribution of global growth," said Claudia D'Arpizio, a Bain partner in Milan and lead author of the study. "In turn, brands are refocusing from short term, reactive hot spot thinking to long-term sustained growth strategies," she said.

Global luxury market set for slower growth: study

Agence France-PresseMay 17, 2013 17:46
The global luxury market will grow by a relatively modest 4-5 percent in turnover this year compared to the 10 percent expansion seen in 2012, a study released on Thursday by research consultancies Bain & Company and Fondazione Altagamma showed. "We are seeing a more even distribution of global growth," said Claudia D'Arpizio, a Bain partner in Milan and lead author of the study. "In turn, brands are refocusing from short term, reactive hot spot thinking to long-term sustained growth strategies," she said.

Global luxury market set for slower growth: study

Agence France-PresseMay 17, 2013 17:46
The global luxury market will grow by a relatively modest 4-5 percent in turnover this year compared to the 10 percent expansion seen in 2012, a study released on Thursday by research consultancies Bain & Company and Fondazione Altagamma showed. "We are seeing a more even distribution of global growth," said Claudia D'Arpizio, a Bain partner in Milan and lead author of the study. "In turn, brands are refocusing from short term, reactive hot spot thinking to long-term sustained growth strategies," she said.

Global luxury market set for slower growth

Agence France-PresseMay 16, 2013 17:31
The global luxury market will grow by a relatively modest 4-5 percent in turnover this year compared to the 10 percent expansion seen in 2012, a study released on Thursday by research consultancies Bain & Company and Fondazione Altagamma showed. "We are seeing a more even distribution of global growth," said Claudia D'Arpizio, a Bain partner in Milan and lead author of the study. "In turn, brands are refocusing from short term, reactive hot spot thinking to long-term sustained growth strategies," she said. Turnover reached 212 billion euros ($273 billion) in 2012.

Hermes says Q1 sales gain 10.3% but leather goods sag

Agence France-PresseApril 22, 2013 06:00
French luxury fashion group Hermes, known for its elegant silk foulards and exclusive handbags, on Monday said its first-quarter sales gained 10.3 percent thanks to a surge in demand especially by Asian shoppers, but noted weaker growth in sales of its iconic leather goods. While overall sales came to 856.8 million euros ($1.1 billion), the Paris-based fashion house said in a statement that it saw a 17 percent jump in Asian countries excluding Japan, where they were 7.0 percent stronger.

Hermes says Q1 sales gain 10.3% but leather goods sag

Agence France-PresseApril 22, 2013 04:00
French luxury goods group Hermes said Monday that its first-quarter sales gained 10.3 percent on strong demand from Asia but noted weaker growth in sales of its iconic leather goods. Overall sales came to 856.8 million euros ($1.1 billion), a statement said, with a jump of 17 percent in Asian countries excluding Japan, where they were 7.0 percent stronger, and a 12.0 percent jump in Europe, "despite a very high basis of comparison and a dull economic climate." In the Americas, sales gained 11.0 percent, the statement added.

Average Korean owns 9 luxury items

April 11, 2013 05:02
How many imported luxury goods do you own? If your answer is nine, you are average for the country. A survey showed Wednesday that Koreans have 8.81 such high-end products on average and purchase about two every year. According to the survey conducted by the Korea Consumer Agency on 1,000 adults, 37.9 percent said they have one to three of such items, while 22.4 percent answered four to five, and 21.9 percent, six to 10. People with more than 50 luxury items accounted for 3.4 percent, and 0.9 percent had more than 100 such items.

S. Koreans own 9 designer goods on average: survey

April 10, 2013 15:19
South Koreans have an average of nine designer-label goods in their closet and buy at least two of such items every year, reflecting their unwavering fever over luxury merchandise, a survey showed Wednesday. A South Korean aged over 20 has purchased an average of 8.81 designer label goods like Gucci, Chanel and Prada, according to a survey on 1,000 buyers conducted by the Korea Consumer Agency. Nearly 38 percent of the respondents said they own one to three items, with 22.4 percent having four to five of them, the data showed.

UPDATE 4-P&G posts solid quarter, gives CEO more breathing room

January 25, 2013 10:45
* Results suggest that turnaround efforts paying off * Profit $1.22/share vs Street view $1.11 * Sales up 2 percent to $22.18 bln vs Street view $21.91 bln * Raises forecast for fiscal year * Shares end at highest level since September 2008 (Adds CEO comments, closing stock price) By Jessica Wohl Jan 25 (Reuters) - What a difference a year makes for Procter & Gamble Co and CEO Bob McDonald.

UPDATE 3-Richemont points to China slowdown, spooks sector

January 21, 2013 05:45
* Quarterly sales up 5 pct at 2.86 bln euros * Reuters poll was for 7.6 pct rise to 2.89 bln euros * Richemont shares down 6 pct, dragging down sector (Adds comments from Montblanc CEO, analyst, details) By Astrid Wendlandt and Emma Thomasson PARIS/ZURICH Jan 21 (Reuters) - Cartier watches maker Richemont said sales growth had ground to a halt in the Asia-Pacific region, rekindling fears about a market which has been the driving force of luxury sales.
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