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Thursday, Jan 162:18 PM
Thursday, Jan 162:18 PM| Comment!
- A new survey on luxury spending by wealthy consumers in China indicates a soft demand trend may continue.
- Spending on gifts fell 25% last year, while overall spending by the wealthy fell 15%.
- A number of factors are in play with Chinese consumption taxes high and the government cracking down on corruption, but the underlying trend is that a surprising number of high net worth consumers are leaving China for new residences overseas.
- The good news for the sector is that some of the lost sales could be recaptured in different markets.
- Related stocks: Gucci (GUCG), Prada, Louis Vuitton (LVMUY), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY), Burberry (BURBY), Louis Vuitton (LVMHF), Tiffany (TIF), and Warnaco (WRC).
Friday, Dec 202013, 9:06 AM
Friday, Dec 202013, 9:06 AM| Comment!
- Luxury star Prada fell short of the consensus estimate of analysts with its Q3 profit. The report from the Italian firm could be a sector warning with Prada's results in China showing some signs of deceleration.
- A stronger euro against the yen was also a bottom line drag for the company.
- Execs with Prada said 'softening consumption patterns" in some key regions could continue to weigh on results.
- On watch: Louis Vuitton (LVMUY), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Gucci Group (GUCG), Swatch (SWGAY), Burberry (BURBY), Estee Lauder (EL), Hermes (HESAF), Richemont (CFRUY).
Tuesday, Oct 292013, 1:48 PM
Tuesday, Oct 292013, 1:48 PM| Comment!
- Luxury goods sales will rise 6% this year in constant exchange rates to top last year's mark of 5%, estimates Bain.
- A maturing market in China has been offset in part by strong luxury trends in Malaysia and Indonesia.
- Global ultra high-end retailers: Prada, Louis Vuitton (LVMUY), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Gucci Group (GUCG), Swatch (SWGAY), Burberry (BURBY), Estee Lauder (EL), Hermes (HESAF), Richemont (CFRUY).
Tuesday, Jul 22013, 7:05 AMRetail sales in Hong Kong grew 12.8% in May to trail the estimates of analysts calling for a 21% gain by a wide margin. The drop could clip expectations for luxury companies which have increased their investments and presence in the region. On watch: Gucci (GUCG.PK), Prada, Louis Vuitton (LVMUY.PK), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY.PK), Burberry (BURBY.PK), and Tiffany (TIF). |Tuesday, Jul 22013, 7:05 AM| Comment!
Wednesday, Jun 52013, 7:49 AMHigh-end sellers in Hong Kong (MAGOF.PK, COH, TIF, RL, BURBY.PK, KORS, GUCG.PK) saw an influx of traffic during the three-day May Day holiday which could help boost sales totals for the quarter. According to the Hong Kong Tourism Board, the number of mainlanders trekking over to Hong Kong jumped 50% Y/Y during the period. A stronger yuan might be motivating more Chinese consumers to hunt for lower prices in Hong Kong. |Wednesday, Jun 52013, 7:49 AM| 3 Comments
Friday, May 242013, 10:46 AMLuxury retail companies seem to be seeing something more than economists do as they ramp up investments and marketing on expectations for increased high-end spending in the U.S. Even with all the focus on the growth potential for the luxury sector in China and Hong Kong, by sales the U.S. market is still twice as big and has plenty of upside, according to industry insiders. A wildcard in the mix is the impact from some relaxed rules on visa approvals for wealthier tourists from emerging markets. On watch: Hermes, LVMH Moet Hennessy (MAGOF.PK), Gucci (GUCG.PK), Louis Vuitton (LVMUY.PK), Coach (COH), Tiffany (TIF), Ralph Lauren (RL), Burberry (BURBY.PK), Saks (SKS), Hugo Boss, Christian Dior (CHDRF.PK). |Friday, May 242013, 10:46 AM| Comment!
Monday, May 202013, 8:29 AMThe flood of tourists into Hong Kong from Mainland China looks promising to global retailers setting up shop in the region, although the tilt towards more bargain shopping could be a trend to watch for high-end sellers. Outlet malls have seen the biggest gains in traffic and sales in Hong Kong which sets up nicely for retailers that planned a strategy which pivots on squeezing profits from the channel. Hong-Kong watching: Nike (NKE), Limited Brands (LTD), Gucci (GUCG.PK), Prada, Louis Vuitton (LVMUY.PK), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY.PK), Burberry (BURBY.PK), and Tiffany (TIF). |Monday, May 202013, 8:29 AM| Comment!
Thursday, May 22013, 7:11 AMRetail sales in Hong Kong rose 9.8% in March to 40.2B HKD ($15.8B) to come in significantly slower than the 15% consensus forecast of analysts. By volume, sales rose 10.2% compared to the forecast for 14% and the 21.9% pace seen in February when the Lunar New Year holiday hit the calendar. Luxury sellers in particular are looking for strong sales numbers from Hong Kong. On watch: Gucci (GUCG.PK), Prada, Louis Vuitton (LVMUY.PK), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY.PK), Burberry (BURBY.PK), and Tiffany (TIF). |Thursday, May 22013, 7:11 AM| Comment!
Wednesday, May 12013, 8:31 AMLuxury retailers plan to start using junkets to bring wealthy Chinese consumers to Hong Kong stores. The practice has done wonders for the casino industry in Macau and could help spur sales with luxury and import taxes in HK lower than on the mainland. High-end China sellers: Gucci (GUCG.PK), Prada, Louis Vuitton (LVMUY.PK), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY.PK), Burberry (BURBY.PK), and Tiffany (TIF) |Wednesday, May 12013, 8:31 AM| 1 Comment
Friday, Apr 262013, 9:10 AMLuxury retail watch: If expensive apparel doesn't play well with Chinese high-end buyers, don't expect to see it in U.S. stores with the Chinese accounting for over 25% of the world's luxury market. An increased tendency in the U.S. for millionaires to dress down - instead of showing off opulence - is also factoring into the dominance of China. What to watch: High-end sellers such as Gucci (GUCG.PK), Prada, Louis Vuitton (LVMUY.PK), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY.PK), Burberry (BURBY.PK), and Tiffany (TIF) might become even more blatant with new designs on which market is the top priority. |Friday, Apr 262013, 9:10 AM| Comment!
Monday, Apr 152013, 1:29 PMThe LVMH read-through to luxury stocks: The LVMH report is consistent with the latest batch of retail sales data from China which indicates solid growth is still out there - but just not at the frothy levels of years past. An important trend to watch is that demand in Europe is getting considerable support from the steady string of tourists pouring in from China which magnifies the impact that Chinese consumers have on the sector. |Monday, Apr 152013, 1:29 PM| Comment!
Monday, Apr 152013, 6:52 AMChina retail sales rose 12.6% Y/Y in Q1 to 5.5451T yuan ($887.22B), according to government data. The pace of growth was a slight improvement over last month's mark and slightly beat estimates but a crackdown on corruption appears to be having an impact on luxury spending and could affect companies in the sector. On watch: EL, RL, COH, KORS, WRC, LVMHF.PK, GUCG.PK. |Monday, Apr 152013, 6:52 AM| Comment!
Monday, Mar 112013, 9:06 AMChina retail sales grew 12.3% in the January to February period, below the estimate of analysts which called for a 13.8% gain. The downtick could be one of the first signs that a government crackdown on lavish spending by government bigwigs may actually register on the sales needle. On watch: EL, RL, COH, KORS, WRC, LVMHF.PK, GUCG.PK. |Monday, Mar 112013, 9:06 AM| 1 Comment
Monday, Oct 152012, 8:54 AMBain & Co. warns growth in the luxury market will slow to 5% this year with spending in China the biggest area of concern. Just last year, the sector was cruising along at a double-digit growth pace. The influence of Chinese consumers on the global luxury market continues to be dramatic with the nation now accounting for half of all luxury purchases in Asia and close to a third in Europe. On watch: RL, COH, KORS, GUCG.PK, WRC, TIF, LVMHF.PK. |Monday, Oct 152012, 8:54 AM| 1 Comment
Thursday, Oct 112012, 11:10 AMLuxury fashion companies remain divided on if the latest lines should be offered on Amazon's (AMZN -0.2%) glitzy fashion section of its website. On the one hand brands such Louis Vuitton or Hugo Boss could lose a bit of cachet as they are hocked near bargain items, but on the other hand, the volume of merchandise Amazon can move can't be ignored and Amazon Fashion is replete with magazine-style photographs and editorial content. To Amazon or not to Amazon: RL, COH, KORS, MAOF.PK, GUCG.PK, LVMUY.PK. |Thursday, Oct 112012, 11:10 AM| Comment!
Friday, Aug 312012, 7:41 AMHermes lifts its 2012 sales target after seeing strong demand from wealthy shoppers in Asia run through July and August. The positive outlook from the French maker of designer clothes and leather accessories comes on the heels of double-digit revenue growth in H1, despite ongoing sluggishness in Europe. On watch: MAGOF.PK, TIF, COH, GUCG.PK |Friday, Aug 312012, 7:41 AM| Comment!