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The luxury resents in Europe but looks at Asia and the US before the closures for the covid luxury fuels in Europe but looks at Asia and the US before the closures for the Covid

The luxury sector seems to have left behind the stagnation of the pandemic of the Coronavirus and attaches the recovery with a rebound of sales.Hermès, LVMH or Porsche are some of the firms with good prospects for the year.The big fortunes return to purchases, but not in all places ... Europe is left behind.Faced with the closures imposed on most of the continent, which also fails to accelerate vaccination, Asia or the US advances in economic reopening.

As a consequence, sales of luxury products firms in the North American country or in Asians, especially in China, rebound in the first quarter of 2021, while in Europe they maintain very limited falls or increases and loses weight in the balanceof companies.

One of the last companies to present their quarterly sales has been the Hermès group, which raised its turnover by 43.7% (to types of constant changes), to 2,083.7 million euros.The figure even exceeds 33% of the same period of 2019, before the pandemic.The impulse comes from the hand of the Asia-Pacific region (excludes Japan), where sales grew by 93.6%.This increase allows to compensate for the 4.4% reduction in Europe, the only region where the brand sold less than from January to March 2020. The fall is aggravated in France, where sales collapse 9.3%.

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The French luxury group has resisted the pandemic better than its rivals, but other firms in the sector mark the same trend by geographical areas.LVMH's income, owned by 50% of the Arnault family, already depends 41% of Asia, excluding Japan, while a year earlier that area only represented 29%.On the contrary, Europe loses ground and has gone from representing 26% of sales at 18% in the first quarter of 2021. In the case of the US, it manages to maintain the quota with a slight fall, from 25% to 23%.The world's largest luxury articles company published sales figures, which increased by 30%, and show a much faster recovery than expected in early 2021 thanks to Asia and the US.

El lujo se resiente en Europa pero mira a Asia y EEUU ante los cierres por la Covid El lujo se resiente en Europa pero mira a Asia y EEUU ante los cierres por la Covid

For its part, the French Luxury Group Kering, owner of Gucci and Yves Saint Laurent, 3,890 million in the first quarter, 21.4% more.The firm explained that much of the growth of income in the quarter was due to Asia-Pacific, which increased by 83%, and to North America, where the rise was 46%.In Europe, again, the billing fell, 34%, and was the only fall with Japan (-3%).

The firm's financial director, Jean-Marc Duplaix, stressed that the coup was more marked in some countries that had passed much of the quarter under a strict blockade, such as the United Kingdom.In addition, he added that more than half of Kering European stores closed in the first quarter, and that number increased in early April due to new closures in France and Italy, according to Reuters.

Pernod Ricard raises sales in Europe although at a lower pace

The French company of alcoholic beverages Pernod Ricard breaks the decreasing trend of sales in Europe, although its growth rate is lower.The billing in Europe increased by 2%, to 486 million euros, compared to the highest pace in Asia, where the firm achieved revenues of 878 million euros, 28% more.In this case America resembles the European continent with sales by 3% higher.

In the presentation of sales in the third quarter of its fiscal year, completed in March, Pernod Ricard stressed that "Europe continues to show strong resistance, particularly thanks to Scottish and specialized brands, despite the restrictions related to COVID".In total, the company reached sales worth 1,955 million euros, 12.8% more than in the same period of the previous year.

The results of the first trimester show China's leadership in recovery, followed by the US, while Europe fails to get out of the crisis.But, in addition to the economic impact of pandemic, the sales of luxury firms are conditioned by the international travel break.Chinese buyers who usually spend on their trips to Europe now do so in their country.That has left luxury companies struggling to meet the growing Chinese demand in the country, while trying to attract more local customers in Europe.Therefore, the position in that Asian market is now fundamental.

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