For months, many people in Hong Kong are protesting against the growing influence of Beijing. To the victims of the unrest, the luxury goods industry, which recorded double-digit losses belongs to. The desire to buy the Chinese, the protests have changed nothing.
With concern to the Manager of the European luxury goods manufacturers look to Hong Kong, where protests against the growing influence of Beijing turn more and more often in violence - and the shopping tourism a strong impact is added. It is believed the head of government, Carrie Lam, has collapsed the number of tourists in the first half of October to 50 percent.
this is A dangerous development, but in Hong Kong, Louis Vuitton, Versace & Co is not just any city in Asia: it is one of the five Top addresses worldwide for luxury goods. Alone, the Swiss watch industry achieved 14 percent of its global sales.
crowds stay out of
flocked in fact, just a few months ago crowds of mainland Chinese in the Shopping Malls and shopping streets of the special administrative zone, particularly on Sundays and holidays, the rush was great. The visitors made the pilgrimage to the shops of luxury brands to Dior, Cartier, Burberry, and many others, where security personnel to regulate as bouncers at Nightclubs, the influx had to.
But that is history - at least for the time being. Since the beginning of the unrest, the turnover of the Hong Kong retailers are steadily declining. In September alone, the revenue for the year fell compared to 18.3 per cent to the equivalent of 3.4 billion euros. In August, she even declined to 22.9 percent.
no crisis in sight
in Particular the Swiss watch industry, which is concentrated in the two groups Richemont and Swatch, had to contend with in the last few months in Hong Kong, with sales down 25 percent and more. But also LVMH, Hermès, Kering and Burberry are affected.
Prevails in the groups, therefore, the mood of crisis, with falling stock prices, and your Bang to the employees? Not in the least. The luxury goods industry, which is not so good. The companies make billions, and the shares are traded close to their historical records.
the sales of Richemont (Cartier, A. Lange & Söhne, IWC) and Burberry in Hong Kong are like because of the riots in the first half of the year in two-digit percentage range. However, this was offset by better business in mainland China and Korea, and thanks to the rise in Online trading more than betting to be made.
for More course information about Richemont
it has survived about LVMH
Additional course Additional course information to Kering
better Yet, the world's number one in the luxury industry, the French LVMH group, the unrest. Also, the global slowdown in the economy seems to be the group to a number of brands from Dior to Louis Vuitton to Veuve Clicquot not be a problem.
In the months of July to September, the worldwide sales climbed 17 percent to 13.3 billion euros. Even adjusted for currency fluctuations and changes in the group portfolio, revenues grew by eleven percent. The group made claims to "good progress“ in the United States, Europe, and - despite the "difficult conditions in Hong Kong" - also in Asia. In this Region, the most important for the group, sales rose last updated at 18 percent.
Louis Vuitton Shop in Hong Kong
In by far the strongest sales divisions: fashion and leather goods growth of 22 per cent managed to LVMH in the first nine months, even in a remarkable 15.9 billion euros. And the shareholders believe that this goes on. Therefore, they have bought massive papers of the company. The LVMH share price alone has increased since the beginning of the year to 50 percent, significantly faster than the overall market.
Online trading is becoming more and more important
This is still in the summer months, the predominant concern is the impact of the unrest in Hong Kong to be blown away. The other luxury conglomerates like the Gucci's parent Kering, or the Italian jacket manufacturer Moncler were losses in Hong Kong due to increased sales in other Asian markets and thanks to the ever-increasing Online-to compensate for trade, came easier than I thought.
Because the purchase desire of the Chinese people is unbroken. If you can not go to Hong Kong for shopping, you just increasingly on the Computer, even luxury items. So, this year's Shopping day "Singles' Day has broken" all the records: Like the Online group Alibaba reported, had been cracked within 68 seconds, the turnover threshold of a billion dollars.
For the luxury goods industry, the good times are not over, so for a long time. It continued, should protests in Hong Kong change nothing.
Still, the losses Germany benefited particularly from the negative interest rates, Cisco warns - and disappointed