Louis Vuitton seem to show a significant slowdown in growth in the Asian luxury market
2013/12/25 view:
Louis Vuitton seem to show a significant slowdown in growth in the Asian luxury market
Asian luxury market and the slowdown in the European economy in the doldrums, began to have a continuing impact on the world's top luxury brand performance and share price.
Owns LV, Cartier (Cartier) and other luxury brands Louis Vuitton, the French luxury goods giant (LVMH) Group 15 announced 2013 first-quarter earnings, said sales in the quarter was 69.5 billion euros, an increase of 6%, an increase far less than 25 percent last year, the Group's entire business sectors slowed varying degrees of growth. Asia, led by China, where the luxury market growth slowed significantly. Affected by this, the 16th European market for luxury goods sector Pudie, drag European shares fell for three consecutive trading days.
LVMH performance slowdown
LVMH a quarterly show, quarter operating income grew about 7% of all our business sectors were slows. Among them, the performance of jewelry and watches sector is particularly weak, sales fell by 1% to € 624 million; last year the sector an increase of up to 141 percent, far more than other sectors.
LVMH's fashion and leather goods sector the main department first-quarter sales rose only 0.4% up to 2.38 billion euros, the highest increase in the minimum value of the performance of the sector since the 2008 financial crisis; first quarter of last year, the sector grew by 17% year on year performance.
Sub-market, by the end of 2012, except for the Japanese market, the Asian market accounted for 28% LVMH Group's total revenue, the group became the world's largest market. But this year, led by China, the Asian luxury goods market growth significantly slowed down; Europe continued uncertain economic environment.
LVMH Chief Financial Officer (CFO) Jean - Jacques Jiyue Ni said, LVMH is losing market demand for its products in Asia, about half of the group's business with the Asian market has a direct or indirect contact, in addition to decreased demand in China, the Japanese weak dollar also hampered consumer spending in Japan and abroad. Jiyue Ni is expected in the first quarter of this year, Japanese tourists overseas buy LVMH products overall reduction of 40%.
Bernstein analyst Mario Otley market research firm expects demand for luxury goods in the second quarter in Europe and China market is still difficult to raise.
European stocks dragged the luxury sector
LVMH due to poor quarterly, on the 16th the company's shares closed down 2.6 percent, after the announcement of the results intraday plunge 3.8%; drag fellow Swiss luxury watch luxury segment producer Richemont (CFR) shares fell 0.28%, the same day European luxury goods sector stocks average decline of 1.6%.
Affected by weaker than expected corporate earnings and the impact of general economic gloom, as of 16 May, the European stock markets have closed lower for a third day. The same day, European stocks vane pan-os Trafigura 600 index fell 0.8 percent, the European Stoxx 50 index fell 0.54 percent.
Germany announced on the 16th April ZEW economic sentiment index showed that in April the index fell to 46.5 from the 36.3 in March, less than expected, leading investors confidence in the economic outlook for the euro zone frustrated. The German DAX 30 index fell 1.18 percent the day, Britain's FTSE 100 index fell 0.5 percent, the French CAC 40 index fell 0.7%.
Asian luxury market and the slowdown in the European economy in the doldrums, began to have a continuing impact on the world's top luxury brand performance and share price.
Owns LV, Cartier (Cartier) and other luxury brands Louis Vuitton, the French luxury goods giant (LVMH) Group 15 announced 2013 first-quarter earnings, said sales in the quarter was 69.5 billion euros, an increase of 6%, an increase far less than 25 percent last year, the Group's entire business sectors slowed varying degrees of growth. Asia, led by China, where the luxury market growth slowed significantly. Affected by this, the 16th European market for luxury goods sector Pudie, drag European shares fell for three consecutive trading days.
LVMH performance slowdown
LVMH a quarterly show, quarter operating income grew about 7% of all our business sectors were slows. Among them, the performance of jewelry and watches sector is particularly weak, sales fell by 1% to € 624 million; last year the sector an increase of up to 141 percent, far more than other sectors.
LVMH's fashion and leather goods sector the main department first-quarter sales rose only 0.4% up to 2.38 billion euros, the highest increase in the minimum value of the performance of the sector since the 2008 financial crisis; first quarter of last year, the sector grew by 17% year on year performance.
Sub-market, by the end of 2012, except for the Japanese market, the Asian market accounted for 28% LVMH Group's total revenue, the group became the world's largest market. But this year, led by China, the Asian luxury goods market growth significantly slowed down; Europe continued uncertain economic environment.
LVMH Chief Financial Officer (CFO) Jean - Jacques Jiyue Ni said, LVMH is losing market demand for its products in Asia, about half of the group's business with the Asian market has a direct or indirect contact, in addition to decreased demand in China, the Japanese weak dollar also hampered consumer spending in Japan and abroad. Jiyue Ni is expected in the first quarter of this year, Japanese tourists overseas buy LVMH products overall reduction of 40%.
Bernstein analyst Mario Otley market research firm expects demand for luxury goods in the second quarter in Europe and China market is still difficult to raise.
European stocks dragged the luxury sector
LVMH due to poor quarterly, on the 16th the company's shares closed down 2.6 percent, after the announcement of the results intraday plunge 3.8%; drag fellow Swiss luxury watch luxury segment producer Richemont (CFR) shares fell 0.28%, the same day European luxury goods sector stocks average decline of 1.6%.
Affected by weaker than expected corporate earnings and the impact of general economic gloom, as of 16 May, the European stock markets have closed lower for a third day. The same day, European stocks vane pan-os Trafigura 600 index fell 0.8 percent, the European Stoxx 50 index fell 0.54 percent.
Germany announced on the 16th April ZEW economic sentiment index showed that in April the index fell to 46.5 from the 36.3 in March, less than expected, leading investors confidence in the economic outlook for the euro zone frustrated. The German DAX 30 index fell 1.18 percent the day, Britain's FTSE 100 index fell 0.5 percent, the French CAC 40 index fell 0.7%.
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