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Search resuls for: "Federica Levato"


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Read previewTanking share prices, excess stock flooding outlets, a slowdown in once-reliable China: 2024 has been a tough year for luxury brands. AdvertisementTo find relief from high luxury prices, those consumers are turning to midlevel brands like clothing store Zara and jewelry brand Pandora, which are thriving. "It is acceptable for people to buy accessories with luxury brands and then buy apparel at Zara." Advertisement"With these other product ranges apart from charms, they think they are benefiting from the downtrading of consumers," Sokolova said. The trick for both Zara and Pandora will be maintaining their appeal when aspirational consumers can once again spend on luxury.
Persons: , Gucci, Claire Tassin, Tassin, Levato, Kering, Louis Vuitton, LVMH, TK, Jelena Sokolova, Michael Kors, Zara, Pandora, it's, Sokolova, It's, Pamela Anderson, Tiffany Organizations: Service, Business, Morning, Brands, Bain & Company, Gucci, Morningstar, Cartier Locations: China, Spanish, Danish, Paris, Morocco, Portugal, Turkey, Europe, Zara
PARIS, June 23 (Reuters) - Luxury brands focused on wealthier consumers in the United States are performing better than those who appeal to aspirational shoppers on lower incomes who are deterred by the economic uncertainty, consultancy Bain & company said. For example, premium fashion retailer Hugo Boss last week raised its sales and profit targets for 2025 and said it continued to see strong growth in the U.S. and was expecting revenue to grow in the Asia-Pacific region. Lovato said that while there were "some questions marks" about China, and possibly a slowing of sales growth with the middle class, there was still appetite there. Luxury sales stood at 345 billion euros last year, according to Bain. Reporting by Mimosa Spencer and Elisa Anzolin; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.
Persons: Bain, Federica Levato, Hugo Boss, Lovato, Mimosa Spencer, Elisa Anzolin, Alison Williams Organizations: Bain, Reuters, People, Saks Fifth, REUTERS, Thomson Locations: United States, China, New York City, U.S, Asia, Pacific
PARIS, June 23 (Reuters) - Luxury brands focused on wealthier consumers in the United States are performing better than those who appeal to aspirational shoppers on lower incomes who are deterred by the economic uncertainty, consultancy Bain & company said. For example, premium fashion retailer Hugo Boss last week raised its sales and profit targets for 2025 and said it continued to see strong growth in the U.S. and was expecting revenue to grow in the Asia-Pacific region. Lovato said that while there were "some questions marks" about China, and possibly a slowing of sales growth with the middle class, there was still appetite there. Luxury sales stood at 345 billion euros last year, according to Bain. Reporting by Mimosa Spencer and Elisa Anzolin; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.
Persons: Bain, Federica Levato, Hugo Boss, Lovato, Mimosa Spencer, Elisa Anzolin, Alison Williams Organizations: Bain, Reuters, Thomson Locations: United States, China, U.S, Asia, Pacific
Declinul preconizat de Bain, care vine în pofida unei reveniri puternice a vânzărilor de produse de lux în China, este în zona inferioară a intervalului cuprins între 20% şi 35%, prognozat de aceeaşi firmă de consultanţă în luna mai a acestui an. Acest lucru se datorează unei reveniri peste aşteptări a vânzărilor de produse de lux în cursul verii, când măsurile de izolare au fost ridicate în întreaga lume iar magazinele care comercializează poşete, haine, bijuterii şi ceasuri de lux au fost redeschise. Cu toate acestea, cel de-al doilea val de infecţii cu coronavirus care a apărut în Europa şi SUA începând din octombrie a condus la noi restricţii şi închideri de magazine. În plus, incertitudinea provocată de alegerile prezidenţiale din SUA a afectat şi ea încrederea consumatorilor.Singura veste bună pentru producătorii de articole de lux este China, unde vânzările au crescut cu 45%, până la 44 miliarde de euro în acest an. Potrivit analiştilor de la Bain, China este pe cale să devină cea mai mare piaţă din lume pentru produsele de lux în 2025, pe măsură ce consumatorii chinezi înstăriţi vor călători mai puţin şi vor cheltui mai mult acasă.
Persons: Bain Locations: China, Europa, SUA, Bain
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