×
164
Fashion Jobs
EXTRAMARKS EDUCATION
Area Sales Manager- B2B Sales
Permanent · Nashik
TITAN BIOTECH LIMITED
Area Sales Manager
Permanent · Hyderabad
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Daman
LEVI'S
Associate Sap Ptp Business Analyst
Permanent · Bengaluru
FEDBANK FINANCIAL SERVICES LTD
Area Sales Manager For Gold Loan - Chennai
Permanent · Chennai
DR MEDITECH SURGICAL AND DIAGNOSTICS INDIA PVT LTD
Production Executive / Production Manager (Biochemistry & Hematology
Permanent · National Capital Region
INFEXN LABORATORIES PRIVATE LIMITED
Medical Representative/ Area Sales Manager
Permanent · Navi Mumbai
ELLIOTT MOSS
IT Sales Manager
Permanent · Mumbai
GRAND CHEMICAL WORKS
Area Sales Manager - Jaipur gt
Permanent · Kota
IGENETIC DIAGNOSTICS /HEALTH MAP DIAGNOSTIC PVT LTD
Area Sales Manager/Territory Manager
Permanent · Pune
RANDSTAD INDIA PVT LTD
Market Development Manager - Horeca Sales
Permanent · National Capital Region
SHREE HR SERVICES
Retail Sales Executive
Permanent · Varanasi
PEP TECHNOLOGIES PRIVATE LIMITED
Area Sales Executive / Area Sales Manager (Only From Skin Care)
Permanent · Bengaluru
MIDAS HYGIENE INDUSTRIES PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
WHITEHAT JR
Sales Manager India
Permanent · Faridabad
REFLECTOSAFE
Area Sales Manager - Delhi
Permanent · National Capital Region
REFLECTOSAFE
Area Sales Manager - Chennai
Permanent · Chennai
AQUAGENICS RESEARCH & DEVELOPMENT INDIA PVT. LTD.
Area Sales Manager
Permanent · Pune
MUTHOOT FINCORP
Area Manager
Permanent · Tiruchirappalli
INFINIX
National Sales Manager
Permanent · MUMBAI
1MG
Sales Manager - Diagnostics
Permanent · National Capital Region
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Fans & Lighting / Retail Sales
Permanent · Ludhiana
By
Reuters API
Published
Feb 16, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Will Kering and Hermes follow Louis Vuitton's lead on prices?

By
Reuters API
Published
Feb 16, 2022

When Gucci-owner Kering and Hermes report earnings this week, investors will be looking for signs that the big luxury fashion groups are confident that wealthy shoppers are willing to pay higher price tags for designer accessories.


Reuters



Rival Louis Vuitton, the world's largest luxury label, said on Tuesday it would raise prices globally from Feb. 16 due to higher manufacturing and transport costs - one of the first major luxury brands to do so this year.

Pricing power could emerge as a key driver of revenue growth again in 2022 for the top tier of the fashion and leather goods industry, following a string of price hikes in 2021 and 2020.

Consumers came out of lockdowns eager to spend their cash on luxury fashion and accessories, after months of being stuck at home. Brands are taking advantage of that spending power to make their wares even more costly and exclusive.

Bloggers on China's social media platform Xiaohongshu are forecasting higher prices from Kering profit engine Gucci from as soon as Friday. Gucci's small Marmont shoulder bag, which currently costs 16,500 yuan ($2,602), is seen going up around 3%, while other Gucci accessories could climb 10-15%.

Users of the Xiaohongshu site, known in the industry as Little Red Book, often cite sales associates for the fashion labels and have a track record of correctly predicting price increases but do not always specify their sources.

Kering's Balenciaga already raised prices in early January in China, according to the Xiaohongshu site. The cost of the label's curvy Hourglass handbags in size small and extra-small, for instance, has risen by 3.5-4% to 17,500 yuan and 11,550 yuan respectively.

Kering declined to comment, noting it is in a closed period ahead of its annual earnings on Thursday.

Hermes told Reuters it would be likely to address the pricing issue when it reports earnings on Friday, denying analysts' reports that the company had already increased prices last month by 3% to 10%.

Chanel raised the prices of some of its most sought after handbags three times last year, with its small classic handbag now costing around $8,200, or 60% more than in 2019.

"This year is likely to bring a virtuous circle of pricing power and brand desirability," UBS said in a note to clients.

Kering is expected to report organic sales growth of 20% over the fourth quarter, HSBC has forecast, helped by marketing investments generating buzz around Gucci's 100th anniversary - last year.

Sales at Hermes are expected to rise 12% at constant foreign exchange rates over the period, HSBC said.
 

© Thomson Reuters 2022 All rights reserved.