Chanel and other luxury goods reprice in the spring

Into the month of February, luxury products will once again usher in the spring tide of rising prices in the spring, and Channel (Channel) will be the first to rise by about 15%. Although the annual price increase of luxury goods has become a "meet", but many domestic consumers have expressed their calm, and the purchasing enthusiasm unabated, several times a year's price increases still maintain the high-end consumer status of luxury goods.

Including Channel, Bulgari, Dior, Hermes and so on.

Some luxury brand prices rose by 15% in the market

Consumers who often buy luxury goods or pay attention to luxury goods may have found that the well-known luxury brand Channel has raised its retail price since February 1. The price adjustment involves Chanel's watches and jewelry collections, which have risen by around 15%.

The price of Chanel is very compelling. On January 16, 2012, French Chanel increased its price. On February 1, the United States and other countries and regions also began to increase prices. More importantly, Chanel's purchase system has also changed.

"From February, waiting list, Classic series from booking to take delivery of at least six weeks, the spot is getting less and less, it is more and more difficult to buy." An international buyer said that as it continues to develop, Chanel quickly On Hermes (Hermes).

In addition to Channel, Bulgari, Dior, Hermes and other brands have also carried out price adjustments for some products. Among them, Hermes made a price increase in January, an increase of 7% -10%. Bulgari completed its price increase on January 24, which was a 5%-15% increase. Dior is expected to complete the price increase in February, its classic Lady series 5 packs will rise about 4,000 yuan.

Analysis of frequent price adjustments only to maintain a large number of positioning Some luxury store sales staff said that luxury brands will raise the retail price once or twice a year, the average increase is generally around 5%. However, compared with the practice, recent price adjustments for some luxury goods are not only at short intervals, but also have large increases. For example, the price adjustment is less than 3 months from the last price adjustment, and the price adjustment of the last brand has reached 10%-15%.

For the recent phenomenon of frequent price adjustments of luxury brands, a senior magazine editor of fashion magazine told reporters that the price increase of luxury goods is a normal thing and domestic inflation is very bad. If there is no price increase, there is no way to maintain the positioning of luxury goods. .

In addition, the continuous appreciation of the *** against the US dollar, the great change in the exchange rate of the Euro, coupled with changes in the cost of raw materials and other factors, have caused brands to adjust prices more frequently.

Extending the Chinese Characteristics of Luxury Goods Consumption In fact, the development of luxury goods in China started from China's accession to WTO 11 years ago. Global luxury goods companies have entered China and continued to expand and have been globally focused. With the continuous appreciation of the *** and devaluation of the euro, Chinese consumers’ purchasing power in the international market has gradually increased.

It is understood that in 2005 Louis Vuitton (Louis Vuitton) only opened stores in 10 cities in China, now has 36 stores in 29 cities; Gucci (Gucci) only 6 stores in early 2006 Today, there are 39 stores; Hermès has expanded from 5 stores in 2005 to 20 stores today.

Sun Yafei, CEO of Fifth Avenue Luxury Net (Weibo), said that at present, Chinese consumers of luxury goods, whether they choose physical store shopping or online shopping, are heavily concentrated in first-tier cities. They have conditional access to more luxury brands and luxury brands. Brands and products are also relatively familiar, and the number of consumers in the first-tier cities is relatively large. Consumer demand in second and third-tier cities is also very strong in recent years, but there are fewer local luxury brands.

In addition, most luxury consumers in China prefer to choose high-profile luxury brands in brand selection, which is a case of "follow the flow," and their choices will be concentrated on a few dozen brands that tend to be mainstream in society. In particular, young, just-introduced consumers, most of the Chinese consumers of luxury goods for the purpose of luxury goods, contain the meaning of conspicuous consumption.

Industry insiders told reporters that China's luxury goods consumption has become more and more important in the past two years. There has been a separation between people who buy luxury goods and those who use luxury goods. This has also made the luxury goods become ** The phenomenon that is hard to ignore in the wave of luxury goods consumption.

According to the “New York Times” article, the total amount of luxury goods purchased for gift giving accounts for almost half of the entire luxury goods consumption. Western luxury manufacturers are also very aware of this, and the president of Dunhill China, Serilgal, once said: “Dunhill has always been a popular brand among Chinese businessmen.”

With the reduction of tariffs this year and the revaluation of the ***, luxury goods may continue to increase prices in the middle of the year to cope with the cost of inflation. As the saying goes: "To seize the purse of Chinese luxury consumers, we must first allow ourselves to be extravagant."

Data Consumers Annually Spend 12.6 Billion U.S. Dollars in Luxury Goods Recently, the World Luxury Goods Association released a report saying that during the Spring Festival, Chinese consumers spent a total of 7.2 billion U.S. dollars on overseas spending, a 15% increase from the estimated figure of 5.7 billion U.S. dollars, setting a record high. . The consumer target is mainly watches, leather goods, fashion, cosmetics and perfumes. The consumer groups are mainly distributed in Europe, North America, Hong Kong, Macao and Taiwan.

According to data released by the World Luxury Goods Association, Chinese people respectively accounted for 62% of total sales in the European luxury goods market; they accounted for 28% of North American luxury market sales, and accounted for 69% of the total luxury goods market in Hong Kong, Macau and Taiwan.

As of the end of December 2011, the total annual consumption of the Chinese luxury goods market has reached 12.6 billion U.S. dollars, accounting for 28% of the global market share. This does not include private jets, yachts and luxury cars.

The World Luxury Goods Association believes that the major luxury goods consumption periods of the Chinese people are concentrated on National Day, Christmas, Spring Festival and Valentine's Day, and the major luxury goods consumption share of these holidays is concentrated overseas.

As to why Chinese people are so eager to purchase luxury goods, Ouyang Kun, CEO of the World Luxury Goods Association’s China Representative Office stated that luxury goods consumption has risen from material consumption to spiritual consumption in China, mostly using luxury goods to show status, identity, or Make up for the empty state of mind.

Ouyang Kun said, “The effect of luxury goods on Chinese and foreign shoppers is different. Foreigners who buy luxury goods are mostly rational consumers. They only choose their own products. However, the Chinese people are different. Sometimes one will buy three or four. Four or five bags of the same style are used for gifts, which is also unprecedented in foreign countries."

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