Luxury industry faces crisis: China slowdown and soaring prices

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  • Опубліковано 24 гру 2024

КОМЕНТАРІ • 27

  • @gero4415
    @gero4415 18 годин тому +42

    people cutting back on wasteful "luxury" when times get tough? what a shocker.

    • @bdegrds
      @bdegrds 17 годин тому +2

      Yet "poor" people have a $1000 cell phone, and all the other latest tech, $30k leased car etc. Obese etc. Thats a very different kind of "poor"

  • @kevinhsu8184
    @kevinhsu8184 8 годин тому +11

    I guess Arnault has come to realization that China isn’t going to grow the way he had hoped it would. Golden goose has stopped laying its eggs so to speak. I bet he’s looking at India as his next target. But since India isn’t ruled by one party, it’ll take a long time for them to grow to what China is today. Not just Chanel has pricing problem vs quality, LV has the same issues as well. Ten years ago, a monogram LV keepall 55 costs around $1200 and today it’ll cost you $2200. Inflation rate for the past ten years is 34%. If you seen Pharell’s LV bag prices, they are absolutely insane! All I can say is good luck to Arnault with his aggressive pricing strategy. It’ll break LV brand eventually. Murakami collab this coming spring may help your bottom line for two quarters. What are you going to do for the fall and winter quarters next year?

  • @daliaa5294
    @daliaa5294 3 години тому +8

    Everything goes up except our salaries
    You expect us to buy luxury when we cannot pay rent and buy food 😂

    • @huas5350
      @huas5350 25 хвилин тому

      Who is your so-called "us"? 😅

  • @joeb8725
    @joeb8725 19 годин тому +15

    Next will be cars then homes

    • @manoftomorrow5987
      @manoftomorrow5987 3 години тому +2

      Cars are already seeing it…it’ll get worse in 2025. Homes in 2026.

  • @normantong3475
    @normantong3475 8 годин тому +7

    The luxury player are too dependent on China consumer ..times are bad they are on their knee to wait and however this is a good lesson that luxury player have a hard knock on their head .. most of these players are too cocky and arrogant.. cherry picking Clients.. sales staff behave badly when customers entering the store they scan the clients pocket whether they can afford especially in Asia luxury retailer .. many watch retailer in Singapore the staff are one of this kind
    Remember this good times never last !!

  • @Phlegethon
    @Phlegethon 18 годин тому +8

    No one wants to buy your bag with a random label on it?

  • @Nxdkbfjfs6mc
    @Nxdkbfjfs6mc 6 годин тому +6

    The Devil Wears Prada

  • @spyderativ2438
    @spyderativ2438 2 години тому +2

    Times have changed and consumers have woken up. The age of conspicuous spendings are over.

    • @sharonh2991
      @sharonh2991 4 хвилини тому

      I don’t think that’s true. As long as there are influences touting luxury brands there will be followers wanting those brands. She even mentioned that Hermes had double digit earnings. I think it’s more the LVMUY brands, their quality just isn’t what it used to be and the value isn’t there.

  • @lindapindabelinda3570
    @lindapindabelinda3570 3 години тому +2

    Those ultra wealthy people were the only thing propping up our economy. For anybody who doesn’t already have a flock of chickens in their backyard, get them quickly or you are going to be hungry.

  • @masterchinese28
    @masterchinese28 Годину тому

    I had a great project with an Italian luxury client from last year into the June this year. Suddenly their budgets for outside vendors dried up. It's a tough time for the industry.

  • @socal1003
    @socal1003 11 хвилин тому

    I think people are just realizing how low quality and overpriced these so called “luxury” items are.

  • @abelcain945
    @abelcain945 30 хвилин тому

    Wait... is this a tele-dating ad or a business report... Always keep the truth: the more a person distracts you with their looks, the more they're trying to hide

  • @raulruiz5275
    @raulruiz5275 11 годин тому +1

    Its ridiculous.!!!!!Everyone should be able to buy this fancy stuff. Last time I went to mexico City . Luxury is very affordable . It's super fake but affordable . I think that is the reason 🤔

  • @gdwlaw5549
    @gdwlaw5549 3 години тому

    Kering share price in 2021 almost 800 euros …..so with all that leverage they have taken on what’s the deal now? Hostile takeover ?

  • @Mrrossj01
    @Mrrossj01 3 години тому

    Luxury brands are victims of their own success. The current rage is tomorrow’s trash. Fashionistas are remarkable fickle. Count on it. Junkoola rules. Buy the fake.

  • @ai7783
    @ai7783 2 години тому

    everyone moving to outdoor gear

  • @TuxBearlux
    @TuxBearlux 3 години тому

    Will Lisa from BlackPink still date the son of LVMH if he becomes poor ? That is the billion dollar question 🤔🧐

    • @mocheen4837
      @mocheen4837 2 години тому +1

      He is a billlionaire and will never be poor. He could lose a billion dollars and still be ultra wealthy.

  • @whitemoon5752
    @whitemoon5752 6 годин тому +2

    China for one will come back and faster than we expect. 2025 will be the turning point if by Q2 the CPI data is positive and real estate is up by 10% it would be unstoppable. Reason is Chinese people like face, so luxury sits well with that cultural aspect and when you combine that with buying power then it is unstoppable for luxury.

  • @fredflintstone2234
    @fredflintstone2234 3 години тому

    Sweetheart, it’s Ralph LORen. Not LorEN.