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Japan and North America sharp drop in luxury goods spending 35% of the relevant data show that China has become the second largest consumer of such products the country
Global luxury experience “winter”, luxury goods giants turned to the strategic vision of China!
According to U.S. media reports, the famous jewelry company Tiffany (Tiffany) yesterday reported third-quarter financial report, statistics show that its profits dropped by nearly Liucheng.
Was founded in 1937, Tiffany has a “Diamond King” and the world’s most expensive silver products, reputation, its customers not only in wealthy countries and star, as well as the European royal aristocracy.
But Tiffany’s latest Quarterly Bulletin revealed that its global sales fell by 1%, U.S. sales fell 7%, only in the Asia Pacific grew 3%. The third-quarter profit fell 57%.
Although this data is higher than Wall Street expectations, but in view of decline in consumer demand, the company is planning to lay off and adjust the financial expenses in order to more efficient use of resources.
U.S. media said that the financial tsunami, the global luxury market into a downturn, data show that over the past 11 months, Japan and North America, 35% of luxury goods sharp drop in spending, the major brands have cut prices to help themselves, the world renowned jeweler Bulgari has been consider reducing the number of new store openings.
Although the luxury market worldwide has shrunk, but the Chinese market has bucked the market trend, maintaining a strong 22% growth in luxury goods giants have the strategic policy toward China.
Foreign media focus
China into a global luxury market, “savior”
British media said: The traditional luxury the United States and Japan are both big countries suffered heavy losses, China’s economy was thriving, many luxury goods giant that captured the root of China’s life-saving straw, one after another into China. Italy’s top brands Versace said in 2009 the Asian market will become its second largest market, China contributed.
French media reports, said: “look at those luxury goods in the United States face it, they are now investment in China. Geneva watches during the past two months, visited seven countries, trying to promote its rich world, sells for more than 200 million of Titanic-DNA series of watches, the result is not what people are more interested in this than the Chinese. ”
Industry is expected to
Chinese demand for luxury goods 15% annual growth rate of
According to China Association of luxury goods in 2007 “Global Luxury Report” predicts that by 2009, 60% of the international luxury brands in China has its own production line, China’s demand for luxury goods 15% a year growth.
At present, China’s demand for luxury goods has been super -