Men's Luxury Market Into A New Industry Battlefield

Men's watch has been a major luxury. But today, male consumers suits, shoes, handbags and the pursuit of increasing. To this end luxury goods industry has also launched a new Illustrating.

 

Men's luxury market into a new industry battlefield
Luxury industry giants began to compete for great prospects for development of the men's market, with a view to fast-growing Asian market to grab a slice. Men of the world € 180 billion luxury market, 40%, since 2009, its annual average growth rate reached 14%, an increase of almost 8% of female luxury twice as much.
The Boston Consulting Group partner Jean-Marc Bellaïche said, "Compared with the female market, men, the consumer market (excluding automobile and tourism) has been in a position behind and now you need to catch up, and its development potential of each product type are very, very big. "
Male and female products in the Hermes product sales in each half of the sky
LVMH and PPR and other industry giants understand this. The former men's series launched Berluti, Brioni men's acquisition of the latter is just the brand.
Spring Department Store Marketing Director Tancrède de Lalun this market is expected to be "booming", "because to a great demand, while male consumers without any restrictions." Finally, this upscale department store in Paris opened a men's luxury accessories area, mainly in sales of leather goods and footwear based.
Hermes Men come to the fore
Tancrède de Lalun said, "Women feel of consumption, and men is based on skills and technology for the consumer power." Professional skills is a key step to enter this market. Many brands are well versed in this, so when they sell this theme as a selling point, embracing the history of the brand and high-end production.
Hermes saddle and harness is started, so the male has a place in the brand product. Brand two years ago in New York opened the first store, the sales growth has been higher than the overall U.S. market. Chief Operating Officer of Axel Dumas said, "We in the United States by about 30%, and our store in New York this increase is higher than this number."
Men and women in the Group's sales turnover in equal shares overall. Series of simultaneous development of high-end luxury brand, in Paris and New York, as well as China and Japan continued with the launch of customized services.
LVMH and PPR the two groups also hold similar goals: to create its first global luxury men's brand. LVMH group brand Berluti men for their own high hopes. Group for the first time decided to spend its investment in an existing brand. Berluti brand launch price of € 4,000 or more custom shoes, it also hopes to offer their customers a full set of high-end apparel products.

 

Men's luxury market into a new industry battlefield
Effort to develop
Brands in more than 30 stores worldwide market estimated sales of about 50 million euros. Company hopes to double its turnover. Berluti successfully hired in July, the famous men's brand Ermenegildo Zegna's artistic director Alessandro Sartori. Berluti in 2012 Fashion Week in January, launched the first men's line.
PPR Group, the acquisition of the famous Italian brand Brioni. The brand's custom suit prices as high as 5,000 euros, but the company is still a medium-size (turnover only 1.7 billion euros). PPR Group would like this to build a global brand, while providing fashion accessories and other physical leisure series.
China's huge consumer market attract many brands. Sales in this market up to 230 million euros (of which 60% is achieved by Chinese tourists abroad), the annual increase of 25%, while men account for nearly three quarters of this market. Director of consultancy firm Roland Berger Bernard Malek said, "In this dramatic increase, Chinese consumers will soon share of global luxury consumption growth of 70%."
CLSA Asia-Pacific analyst is expected in China (including Hong Kong, Macao and Taiwan) in 2020 will account for more than 44% of the global market, far higher than the current 17%.
Competitive
To enter the Asian market, Berluti and Brioni as their headquarters are in financial need strong support, because only in order to increase investment and has been stationed in the local industry giants to battle.
Roland Berger consultants Beijing director Jason Ding said, "visibility is a key factor of success, because Chinese consumers prefer to buy well-known brand." Ermenegildo Zegna's turnover last year, close to 10 billion euros, of which nearly half is contributed by the Asian market. Britain's Burberry and Dunhill, Armani, Italy and Germany, Hugo Boss is not overlooked competitors. Chinese consumers are and Zegna are the top five men's favorite brand.