Luxury Market Expected to Bottom Out This Year

Categories:Other Brands

Later this month, Bain will release its 2016 luxury industry outlook but early predictions have the market bottoming out later this year and rising again in 2017. As usual, China is at the center of all the action. Last year, dramatic stock declines and a crackdown on corruption in China resulted in some of the biggest declines in luxury earnings since the financial crisis, but in-country demand is expected to rise by the end of this year and into 2017.

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Luxury Stores in Hong Kong

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Luxury brands are increasingly dependent on the Chinese consumer. The number of Chinese Travelers from Hong Kong is predicted to decrease this year, which would contribute to decreased luxury spending abroad.

They expect new regulations and tax protocols will result in a significant decline in grey-market imports, thus boosting Chinese domestic demand. Given that luxury retailers have moved toharmonize prices between Europe and China over the past year, there’s also now less incentive to make purchases outside the country. According to the upcoming report, the price discrepancy between Europe and China has been halved in the past year, from 70% to 35%, and is expected to decline to 25% “in the near future.”

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Luxury Sales Growth broken down by Geographic Region

Chinese Shoppers lining up in front of a Hermes Paris store last September.

European sales have obviously taken a serious dip after the most recent terrorist attacks in Paris and Brussels, but this isn’t expected to put any long-term pressure on earnings. In general, there don’t seem to be any identifiable drivers for international demand growth in the forecast, which could prove hugely problematic for already-struggling retailers in the event of some sort of macroeconomic shock.

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If you live in China or Hong Kong, we’d love to hear about your experience of acquiring luxury goods and how it’s changing on the ground, if it actually is?

Tags: Market To Out BOTTOM this Year Luxury Expected

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HERMES BOLIDE DOUBLE BOTTOM BAG

Categories:Other Brands

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The Hermes Bolide Double Bottom Bag is an extremely iconic piece that will surely please bag aficionados and starting bag collectors alike. This new take on the design is something that catches the eye, and we’re about to elaborate more about this development.

The Bolide has a long history – it was first created in the year 1922 when the wife of Hermes’s owner, Emilie-Maurice Hermès, wanted a new bag to carry in while she went out for a ride in a car (which was also a new invention at that time). The Bolide was called a ‘Bugatti’ at that time, and was the first bag to ever incorporate some zips.

Lightweight and easy to carry, this piece is really something new! Never has Hermes shown the Bolide with a double bottom, that’s why it’s really a joy to have. It’s a swift calfskin with gold-plated hardware and zip fastening, with two flat inside pockets for organization. What else would you ever need? Surely, this baby will never go out of style.

Measuring 24cm x 27cm x 10cm (L x H x D), you can get your very own Bolide Double Bottom Bag for €6,400 EUR or £5,850 GBP via Hermes e-store.

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Tags: bag Hermes Double BOLIDE BOTTOM

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