Michael Kors And Other Luxury Luxury Brands

　　 Luxury goods Trapped in light luxury goods relay

Prior to the LVMH group's 2013 earnings report, the group's net profit in 2013 increased by only 0.35% over the same period last year. Gucci's performance did not increase, but revenue fell 2.1% last year. Chanel, Dior and Prada have also exposed the news that annual sales growth has dropped to a single digit. The whole high-end luxury market has entered a slow development stage.

In the rapid development of fashion industry, it is more difficult to mature the luxury brand to maintain the market position. Light luxury brand Is becoming the main force of profit in the whole market.

Global luxury brand Michael Kors The 2014 fiscal year ended March 29, 2014 shows that the total annual revenue is 3 billion 300 million US dollars, up 51.8% from 2013 US dollars in fiscal year 2 billion 200 million. Among them, the same store sales increased by 22.9%, and the annual retail sales increased by 49.9% to 1 billion 600 million US dollars. Gross profit increased by 54.3% to US $2 billion in the whole year, and gross profit margin increased to 60.9% from 59.9% last year.

Reporters in Sanlitun Taigu, Xinguang heaven and earth to see, the old luxury brand is very cold, Michael Kors stores are crowded. There are consumers and even one person buying three or four bags, and customers are queuing up to pay the bill before the cash register. Michael Kors sales staff of Sanlitun Taigu Li store said that since the opening last November, shop assistants have been receiving customers in the shop. Last year's super brand Miranda Kerr led the brand show in Shanghai, it is to let people see the strong financial resources of Michael Kors brand. Coincidentally, according to the latest quarterly report in 2014, sales of Kate Spade surged 54% in the first quarter to 2 billion 170 million US dollars. In the three quarter of last year, Kate Spade even exposed a sales growth rate of up to 76.4%. The brand CEO William McComb said that the rate of repeat buying among young people is very high. These amazing growth rates reflect the trend that the fashion consumer market has been changing quietly. The traditional luxury goods are no longer in sight.

Recently, Euromonitor, an international market research firm, released the 2013 annual luxury Research Report, which covers nine categories of luxury goods in 32 countries. Data show that in 2013, the global luxury goods sales increased by only 3% over the same period last year, which continued to slow down compared with the 4% growth in 2012, and the two digit growth rate in the past was not the same.

The 2013 China luxury market research released by Bain consulting company also showed that the growth rate of luxury market in mainland China has further slowed down, and the growth rate in 2013 was around 2%.

　　 Luxury is no longer important for new consumers.

The survey of light luxury consumption shows that the 50.57% and 33.33% voting rates are the main reasons for people to choose light luxury products. Of the 87 light luxury consumers surveyed, more than 64.37% of them had bachelor's degree or above, and over 94% of them were 20-35 years old. It is easy to see that consumers of light luxury goods are people who have a unique understanding of the quality of products. These young consumers are becoming the main force of fashion consumption. Their educational background, knowledge level and age determine that their behavior in buying fashion consumer goods is independent and loyal to the rational consumption behavior of product quality and price itself.

Zhou Ting, senior luxury research expert and President of the Institute of wealth and quality research, believes that the core consumers of luxury goods are gradually fleeing from big brands and are pursuing more personalized product experience.

In addition, fashion buyer Ding Yi Europe analysis, the price of light luxury goods is the main reason for its popularity in the world. Light luxury goods have a concord with luxury goods in terms of business philosophy and brand culture, VIP construction and after-sales service. They aim to provide customers with the best products while enjoying quality service, but there are absolute differences in price. Light extravagant products advocate price rationalization, popularization and product practicality. Why not spend less money on a more satisfying consumption experience?

　　 Light and luxurious expansion requires precise positioning.

Behind the rapid growth is the massive expansion. As early as the end of last year, Kate Spade reached a cooperation agreement with the Korean attachment group, which already had rich channel resources in China, and jointly opened up the Chinese market.

It is not easy to start an undertaking, and it is more difficult to keep it. With the huge pace of expansion in China, the leader of the luxury brand is probably thinking about the future of the brand so as to prepare for the rainy day. When brands are everywhere in China's 123 tier cities, just like Coach, who has completed the market share in China, how should the road go after the bottleneck of market saturation?

"In the future fashion consumption, people will even weaken the concept of brand, and the sense of happiness brought about by product quality and consumption experience will be the standard when buying products. People are becoming more and more aware of life, paying more and more attention to the way of life and yearning for the consumption experience that can bring happiness to them. LifeStyle's collection shop has been noticed by some people. " Qiu Zhengwei, general manager of the Danish luxury brand Bruuns Bazaar, said. These hard to be standardized standards may be the consumer psychology that brand operators need to worry about in the future.

Zhou Ting told the Beijing Commercial Daily reporter that today's limelight brand is likely to be somewhat optimistic about its future. She pointed out that the so-called "light luxury consumption" is a gap in the process of fashion consumption transformation and upgrading. Brands have seized this point and made a big deal with the concept of light luxury. "The future luxury market is becoming more and more detailed, and the structure will be very clear. Any consumer group will have a corresponding consumer market. It is difficult to maintain long-term development if light luxury brands do not make in-depth analysis of their targeted customers and do not make more efforts in product innovation, after-sales service and image strategy. Or in that sentence, the market structure in the future will be highly refined. It is a permanent solution to take the initiative to do the market and grasp the understanding of consumers.

Today's fashion consumers understand and update fashion knowledge so deeply and quickly that people will soon realize that the so-called luxury is just the beautiful coat of fashion brand. In the final analysis, they are only boutique brands, not mysterious. In order to stand out in the constantly transforming and upgrading market, it is very important to "take the initiative" two words.