×
389
Fashion Jobs
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Samastipur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Madhepura
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Nawada
ARKRAY HEALTHCARE PVT. LTD
Opening For Medical Business Manager(mr)- Delhi Chennai & Bangalore
Permanent · Chennai
TOUCH MOBILES
Wanted Showroom Manager, Sales Exe & Cashiers - Touch Mobiles
Permanent · Khammam
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Katihar
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager(Haryana)
Permanent · Sirsa
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Araria
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager(Haryana)
Permanent · Ambala
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager(Haryana)
Permanent · Sonipat
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Sitamarhi
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Buxar
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Aurangabad
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Rajasthan)
Permanent · Sri Ganganagar
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sale Manager(Uttarakhand)
Permanent · Dehradun
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Rajasthan)
Permanent · Jodhpur
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager(Uttarakhand)
Permanent · Pithoragarh
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Rajasthan)
Permanent · Bharatpur
PIRAMAL NEXTGEN INDUSTRIES PRIVATE LIMITED
Business Development Manager / Area Sales Manager - Chennai
Permanent · Chennai
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Rajasthan)
Permanent · Karauli
ENDURANCE TECHNOLOGIES LIMITED.
Area Sales Manager - Aftermarket Division
Permanent · Tiruchirappalli
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Rajasthan)
Permanent · Kota
By
Reuters
Published
Jun 7, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Louis Vuitton sees demand in mainland China picking up steam

By
Reuters
Published
Jun 7, 2019

Louis Vuitton, LVMH’s biggest sales driver, has beefed up stocks of its handbags and other luxury wares to feed its growing online business in mainland China, as Chinese consumers spend more at home, its management told analysts.


Louis Vuitton - Cruise Collection2020 - Womenswear - New York



Chinese shoppers are increasingly splurging on high-end fashion and accessories locally rather than overseas, encouraged by a leveling out of prices as import tariffs drop, although that has penalized some brands struggling to capture the shift.

Vuitton is benefiting thanks in part to a Chinese e-commerce push, according to analysts who attended a two-day closed-door briefing with the brand and LVMH.

More broadly, demand for Vuitton products within mainland China was still at “unheard of” levels, its CEO Michael Burke was quoted as saying. LVMH had no immediate comment.

“Although only a third of spend on Louis Vuitton is currently local, this is growing twice as fast and a 50:50 split is now on the cards,” Citi analyst Flavio Cereda wrote in a note.

Over the past nine months, Vuitton shifted inventories from neighboring countries to its e-commerce site in China, which now accounted for 8 percent of the brand’s sales there, Cereda added.

Vuitton launched its online business in China in mid-2017 - just after Kering-owned rival Gucci - with Prada and Hermes following suit.

Jeweller Tiffany, which has suffered from sharply lower spending among Chinese tourists in the United States, said this week it also planned to invest in e-commerce operations in China.

Relations between the world’s two largest economies have soured amid a trade war, adding to a tougher backdrop for luxury firms in their biggest markets.

But Vuitton gave a rosy view of its U.S. business and told analysts it had opened its third U.S. handbag manufacturing site, in Texas.
“Investors should be reassured by Louis Vuitton’s ‘healthy’ trends in Asia and the United States,” RBC Capital Markets analyst Rogerio Fujimori wrote.

LVMH shares were flat at the close of trading on Thursday, after rising more than 2 percent earlier in the day and hitting record highs of 357.10 euros ($403.27).

Vuitton, with annual sales around the 10.5 billion-euro mark, aims to make 1 billion euros in revenues from its watches and jewellery in the coming years, RBC’s Fujimori added.

It has already passed that threshold in its women’s and men’s clothing ranges, Fujimori’s said.

Asked by analysts whether LVMH might buy Chanel - after the French label sparked speculation it was on the block when it published earnings for the first time last June - the group’s CFO Jean-Jacques Guiony said its size would be a challenge for any buyer.

Guiony said Chanel was worth closer to 100 billion euros than the 50 billion euros often cited in media reports, Jefferies’ Cereda wrote.
Chanel did not immediately respond to a request for comment.

© Thomson Reuters 2021 All rights reserved.