Positive Altagamma forecasts for all the categories and all markets, with a strong accent on Asia. China already represents 25% of world consumption in the top end segment

In 2011 the global market of personal luxury goods saw a growth of 11% for a total of 192 billion euros, thanks to the increasingly powerful role of Asian consumers, the Chinese in particular. The current year 2012 should close on a growth of 10% (+5% at constant exchange rates), characterized by consolidation on both traditional and Asiatic markets with a similar trend forecast also for 2013. These statistics are provided by the Altagamma global survey on luxury markets. As regards distribution channels, retail has achieved better results than wholesale both in 2011 (+15%) and in 2012 (+14%). Online sales, especially as regards women’s goods, continue to grow (+25% in both 2011 and 2012) for an overall value of 7 billion euro. Another section that is not feeling the crisis is that of factory outlets, arriving at 13 billion euro with an increment of 30% (+20% at constant rates). A formula that is forecast to develop significantly also in Asia and China especially, because remainders from the very numerous new openings should be cleared on the spot. As to geographical areas, all markets show a strong growth with the exception of Japan. Europe will benefit from the flow of tourists and expects a 5% increase in sales of luxury goods. America should see a +13% thanks to good performance of department stores, while the Asia Pacific area remains the leading market for both 2011 (+25%) and in 2012 (+18%). China confirmed the strong growth of previous years also for 2011 (+30%), while 2012 sees the start of a stabilizing process on the market (+20%). Consumers are becoming increasingly sophisticated and exigent, paying greater attention to intrinsic quality of products compared to the importance of logos. Asian customers now make up a third of the total market and those of China are the absolute leaders, with a quota of 25%.As regards the categories, accessories chalked up double digit numbers both in 2011 (+15%) and 2012 (+14%). Leather accessories are the top segment as regards growth in 2012 (+16%): the trend appears global in all parts including the men’s segment. Shoes also show a strong increase (+13% in both 2011 and in 2012).

ALTAGAMMA CONSENSUS 2012 – PRODUCTS

PRODUCTS 1st HALF 2013 2nd HALF 2013 FULL 2013
Apparel 5,5% 6,5% 6,0%
Art de la Table 1,5% 2,5% 2,0%
Jewelry, Watches, Pens, Lighters 7,0% 9,0% 8,0%
Leather, Shoes and Accessories 9,5% 10,5% 10,5%
Fragrances and Cosmetics 3,5% 4,5% 4,0%

ALTAGAMMA CONSENSUS 2012 – MARKET

PRODUCTS 1st HALF 2013 2nd HALF 2013 FULL 2013
Europe 4,0% 5,0% 4,5%
North America 6,0% 6,0% 6,0%
Latin America 10,0% 10,0% 10,0%
Japan 2,0% 2,0% 2,0%
Asia 16,0% 18% 17%
Middle East 9,0% 9,0% 9,0%
Rest of the World 9,0% 9,0% 9,0%