Asian Markets Help Restore Luxury Market

Recently, Italy

Producer Prada (Prada) released its financial report and announced its consolidated performance in the past 3 months as of April 30th.

The company's quarterly net sales amounted to 687 million euros, an increase of 47.9% over the same period. The sales growth in the Greater China region (mainland China and Hongkong and Macao) reached 53.7% and the same store sales increased 24%.

The rebound in the luxury market seems to be a hot topic this year, and the major brands are reported repeatedly. These financial reports prove that the luxury goods market has started to go out of the doldrums.

In 2009, the financial tsunami swept the world. Under the pressure of the huge financial crisis, the luxury industry has also been hit by an unprecedented blow.

The property reports of major brands and department stores have been released, which confirms the impact of the luxury goods industry straight into the winter.

This financial crisis is like a cold water poured directly into the rapidly expanding luxury industry, not just shrinking.

It also cooled people's consumption fever.

When the chief designer of Burberry talked about the impact of the financial crisis on the brand, he admitted that the price of top brand clothing has been over expanding in the past 10 years, and now is a good time to readjust the price.

The crisis has promoted the reshuffle of the industry.

Often, the ability to survive in adversity is huge. Luxury giants begin to think about market problems and turn their heads around.

Dr. Sun Yimin, vice president of Management School of Fudan University, said that luxury consumption can be said to be a consumption phenomenon in a beautiful environment. The financial crisis that continues to this day will affect the real income and psychology of some luxury consumers, which will affect the consumption of luxury goods, but the core of this industry is.

Groups still exist.

Summing up the recent financial reports released by the major luxury brands, the results are brilliant.

Italy GiorgioArmani (Giorgio Armani) group's financial report shows that as of December 31, 2011, the group's 2011 operating profit increased by 23.2% to 281 million 800 thousand euros, and sales increased by 13.6% to 1 billion 800 million euros.

Asia has shown strong growth and sales in China have increased by 45%.

French luxury goods

The LouisVuitton (LV) group released its financial report that its performance in 2011 was high and its global sales amounted to 23 billion 700 million euros, an increase of 16% over the previous year and a net profit of 3 billion 65 million euros.

Regionally, Asia's sales grew by the most, with an increase of 27%.

Thus, the Asian market has become a hero in this revolution.

The so-called Asian market, with its strong inclusiveness and relatively simple luxury sales status and other advantages, has become a "fat meat" that the major brands are fighting for.

Facts have proved that the Asian market is indeed a stimulant, pulling the luxury market out of the doldrums in just two years.

But what about the next two years? As the saying goes, "wolf is more meat and less", the environment is changing. How long can this stimulant continue?