NEWS News in brief . . .
The luxury market is recovering faster than expected, thanks in part to emerging markets.
LVMH and others perform above forecasts More bankruptcies in the MBFG empire Better results for Reno, Venue Retail, Sabu and other retailers The Portuguese Move On project takes shape Gas signs a shoe license with a new firm Faith goes into administration Brands associate with hotels and the arts Argentina acts against Chinese shoe imports, Brazil exports more in the quarter
Management: Bally, Furla, LK Bennett, Jimmy Choo, Rocket Dog, Vögele, etc.
Industry brief Sales of luxury goods will grow faster than initially expected, thanks to strong demand from China, according to a survey carried out by the research group Bain & Company for Italy’s Altagamma. The segment comprising shoes, bags and leathergoods is seen rising 5.7 % this year compared with a previous estimate of 4.0 %. Higher rates of growth are expected for items such as watches, jewelry and pens. The luxury goods sector overall is expected to grow by 4% to ¤158 billion at constant currency rates. This compares with Altagamma’s previous estimate, released in October, of a 1% rise to ¤155 billion. In 2009, the sector’s revenues dropped by 8% to ¤153 billion from ¤167 billion in 2008. However, after rising by 5- 10 % in the various geographies during the first half, luxury goods sales will slow down in the second part of the year.
Overall luxury goods sales are forecast to rise by 15% in China and drop by 3.6 % in Japan. U.S. revenues are seen increasing by 4 %, while Europe should grow by 3%. Growth rates of 8.7 % and 6.6 % are predicted in Latin America and the Middle East, respectively.
Separately, a study done by the Italian employer’s association, Confindustria, the research group Prometeia and the trade insurance company Sace forecast that there will be 123 million “new rich” in the world by 2015, representing people with an annual purchasing power of more than $30,000. About 75% will originate from emerging countries, and China will represent a third of the overall growth. The new rich will be largely young and female.
The additional wealth will boost global imports of accessible luxury goods to ¤504 billion in 2015 from ¤387 billion in 2009. Import growth will be faster in emerging countries and the largest markets will be Russia, the United Arab Emirates and China.
Italy has a market share of more than 11.0 % in sales of accessible luxury, and its annual exports are expected to grow by an additional ¤12 billion in 2015, of which ¤4 billion will be attributable to emerging markets. In the shoe industry, the five markets expected to show the highest growth levels in terms of exports are Russia, the UAE, Kazakhstan, Ukraine and China.
Article supplied by
www.shoeintelligence.com
Geox wins the 2010 Franchising Award
The shoe manufacturing Group wins the award for the innovative concept of Geox Shops
Geox has won the 2010 Franchising Award, a prestigious prize instituted
by the AZ Franchising magazine and awarded every year by an academic scientific committee of the sector to those franchisors that have stood out for their ability to innovate. The 9th edition of the prize-giving ceremony took place at Palazzo Cusani, the prestigious NATO Milan headquarters. The Franchising Awards Committee selected this edition’s five winners
amongst over 1,000 Italian companies. The winners owe their success to their ability to innovate the concept of point of sale, each of them in their own way and sector. “It is an honour for Geox to receive this award – stated the Group's
Chairman, Mario Moretti Polegato – which is an important achievement in the work carried out over the past years to develop a single-brand distribution network representing our products and our mission effectively. My thanks go to those who have believed in this project and invested in our franchising model thus contributing significantly to our Group's success". Geox, famous for inventing the “shoe that breathes”, has obtained the
award because it has revolutionised the footwear and clothing market both by applying technology to fashion and by creating a single-brand sales network capable of spreading effectively such innovation. Geox Shops introduced the single-brand shoe shop into Italy, intended not only as the place where customers can see the collection and get a “hands-on experience” of the technology applied, but also as a platform to communicate and promote the brand and its philosophy, namely the “let breathe” philosophy. That conception gave rise to a widespread sales network that has grown steadily over the past years and now boasts 1,015 single-brand retailers, 764 of which are franchise retailers. In the first quarter of 2010, franchise retailers accounted for 18% of the Group's overall revenue, with an increase of 1% compared to the same period of 2009.
NAT-2 launches “SKIP“, a mix of boatshoe and sneaker in a washed vintage style for men and women
Munich based sneaker-and shoe-brand Nat-2, famous for its original 2 in 1
shoe and award winning 4 in 1 stack, has launched a vintage washed and hand treated hybrid of a boatshoe and sneaker for summer 1011. The upper is made of high quality suede leather and canvas which has been re-worked in special washing machines. After, the outsoles get brushed and treated to achieve the unique used look. Additional comfort to the slim last is provided by the leather insole. The unisex style (sizes 36-46) is RP: ¤59,95, trade: ¤26,00 & ¤69,95 MEN, trade: ¤30,00 and it comes in a stylish collector’s suitcase.
www.nat-2.eu
4 • FOOTWEAR TODAY
• JUNE/JULY 2010
www.footweartoday.co.uk
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