Louis-Manoël K/vella

"A Lasting Shift in China's Luxury Market" by Jean-Laurent Vilon, CSO & Managing Director Mazarine Group APAC & Middle East. I've just returned from my semi-annual trip to Shanghai. This trip to China was unlike any of my previous experiences. Having lived in Shanghai from 2012 to 2022, and more broadly across APAC (Hong Kong, Kuala Lumpur, Singapore) from 2008 to 2012, I've witnessed firsthand the evolution of this market. Before COVID-19, China was the “promised land” for luxury brands, a booming market with seemingly limitless growth potential and a consumer base eager to embrace global luxury. During the pandemic, however, the focus shifted to navigating strict restrictions, while rapid growth was fueled by Chinese consumers spending domestically due to travel limitations. This trend provided a temporary boost, but as 2023 approached, the industry held its breath for the eventual reopening. The anticipation of a post-COVID rebound fueled optimism; brands looked forward to China’s grand comeback, hoping it would once again lead global luxury sales. However, this simple resurgence never happened as I anticipated and wrote in 2022. The luxury market in China is now grappling with complex, interwoven challenges. Economic shifts, cautious consumer spending, and the rapid rise of capable local competitors have created an environment far more nuanced than before. The anticipated rebound has become a much more gradual recalibration, one that demands a fresh understanding of Chinese consumers and the shifts in their values. This new reality presents both obstacles and avenues for growth, but one thing is clear: the dynamics of the Chinese luxury market have fundamentally changed, and so too must the strategies for success. For brands, the road forward lies not in reclaiming what once was, but LISTENING and aligning closely with the emerging needs and preferences of a new generation. This holds true for China and will also apply globally for luxury brands in 2025. #JeanLaurentVilon #MazarineGroup #China #LuxuryChina Read more from the article >>>

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Alright, enough about Jaguar—let’s talk about LVMH. Their latest installation in Minatomirai, Yokohama, is a marketing masterpiece. It doesn’t just bring luxury closer; it makes it tangible—and even rideable. Here’s why it’s a stroke of genius: 1. Strategic Location: Positioned in the heart of high-traffic shopping malls, it’s impossible to miss. 2. Perfect Timing: It taps into the festive cheer of Christmas and the holiday season, riding the wave of warm, feel-good vibes. 3. Viral Potential: Adorable kids enjoying the ride, captured in photos and videos, are destined to flood social media—just like this post. 4. Brand Impact: It’s unforgettable. It deepens the emotional connection to the brand and enhances its image effortlessly. I showed the video to my wife, and now guess what? She wants one too. How do I get this in my living room?

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We’re buying dreams, not handbags CHANEL’s CEO, Leena Nair defended the brand’s pricing after it raised the cost of one of its best-known handbags to more than USD 10,000. Its medium Classic bag cost around USD 5,800 in 2019. Chanel joins several other power brands in increasing prices. Earlier this year Hermès and Louis Vuitton also announced prices in Asia were going up by 6-20%. How is it that some brands feel confident enough to raise prices given the weakness of the luxury market? I think that it’s largely down to incredible storytelling that has created such brand power. If you haven’t watched the video advert Chanel produced earlier this year for the flap bag starring Brad Pitt and Penelope Cruz in a remake of “A Man and a Woman”, I encourage you to. The response was overwhelming with fans crying out for a full-length film. Luxury companies are selling us dreams not products. When you can make people dream, prices become less relevant. This is one of the big differences between premium brands and luxury brands. You buy the latest Apple iPhone for its new functionality. But when you buy a Chanel bag, it’s not just for the bag itself, it’s for how it makes you feel. I’d love to know what you think. #storytelling #luxury #prices #premium Smith Square Partners https://lnkd.in/eszvpkZT

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Is it time for Burberry to consider new management? Having just reported dismal FY24 results and remained vague about the FY25 LFL outlook, it must be time to consider a new management and creative team. Shareholders must be losing patience with Burberry, which has underperformed the luxury sector for almost 10 years.  Christopher Bailey was a brilliant creative director but did not have the right skills as CEO. Since then, first the Italian CEO/creative duo of Marco Gobbetti/Riccardo Tisci; and currently Jonathan Akeroyd/Daniel Lee have fared little better. But why? The luxury market is weaker than expected in 2024, but this alone is insufficient to explain the company’s current underperformance. Burberry’s strategy to elevate the brand; and shift towards leather goods has never made sense to me. This is a crowded, hyper-competitive space already and more importantly, it is not where Burberry’s DNA lies. Burberry’s DNA is about protecting people from the elements The brand has always been about protecting people from the elements. But in its eagerness to become a more exclusive leather goods brand, Burberry has let Moncler run away with the luxury outerwear space. Considering the interest in climate change, it seems like such a relevant category. Burberry’s positioning should be about accessible luxury No brand can take its pricing upwards easily, especially not in the current environment. It will be difficult for Burberry to move into higher-priced exclusive luxury, with the number of outlets Burberry has. It is no surprise that none of the successful luxury brands that operate in this higher-priced space – including Chanel, Dior, Hermes and Vuitton – have outlets. Being fashion-forward when quiet luxury in vogue is problematic Offering too high a fashion component at a time when quiet luxury is in vogue is also a difficult strategy. In my mind, Burberry should be a modern classic but not high-fashion. Burberry doesn’t feel like Burberry any more If you walk into the Bond Street Burberry store today, the white box feels anonymous; this store could arguably belong to a whole host of premium brands. I also think it’s a pity that successive management teams have been allowed to tamper with the typeface/font. The new font is not even consistently applied across the world. (For example, the Vienna flagship still uses the old one). As for heavy use of the colour blue, I associate Burberry with tan, black and dark red of the check. I’d love to know what you think. #luxury #management #turnaround Smith Square Partners https://lnkd.in/ebH9PX3W

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How WHOOP Redefined Luxury: The Evolution of Lifestyle and Wellness as Status Symbols. In the past, luxury meant exclusivity—ROLEX watches, Cartier Love bracelets, and the like signified wealth and sophistication. But today, luxury has evolved beyond traditional symbols of affluence. Enter WHOOP, the fitness and wellness wearable that has positioned itself as a must-have for the elite, standing shoulder-to-shoulder with the most iconic status symbols. So, how did a fitness tracker become a luxury item? WHOOP didn’t just sell a product; it sold a lifestyle—one that aligns with the growing demand for peak performance, health optimization, and self-care as markers of success. Its subscription model and sleek design underscore exclusivity, making it as aspirational as fine jewelry. Influencers, athletes, and CEOs tout WHOOP not just as a tool for wellness but as a statement of living intentionally—a new hallmark of luxury. And I am one of them..... This shift mirrors a broader trend: luxury is no longer just about material goods. It’s about investing in experiences, health, and wellness. Fitness studios, clean eating, and biohacking tools are the new luxury, redefining what it means to “live well.” WHOOP’s success is a testament to this transformation, proving that in today’s world, the most coveted status symbol is not just what you wear but how you live. What are your thoughts on this shift in luxury perception? #luxury #newluxury #statussymbol #lifestyle #whoop #fitness #wellness #biohacking

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LVMH Lines Up Next CFO: But More Diversity is Needed In a significant development, luxury conglomerate LVMH has appointed Cécile Cabanis as deputy finance director, reporting to current CFO Jean Jacques Guiony. This move is part of a broader succession plan as billionaire CEO Bernard Arnault prepares the next generation of leaders to steer the world's largest luxury goods company. Key Takeaways: → Cabanis, former CFO of Danone, is poised to eventually succeed Guiony as LVMH's CFO → Although the appointment reflects LVMH's commitment to gender diversity, with Cabanis becoming the third woman on the executive committee, we would like to see MORE please → The move highlights LVMH's focus on continued growth, resilience, and industry leadership → The management shake-up underscores the Arnault family's tight control over the company and its long-term strategic direction Implications for Diversity in Luxury? → Does this signal a welcome shift towards gender diversity in luxury leadership →As the industry closely watches LVMH's strategic moves, could this inspire other brands to prioritise diversity in succession planning? →Questions remain about LVMH's long-term plans and the role of non-family executives →LVMH's commitment to a strong, diverse management team positions it to navigate challenges and shape the future of luxury What are your thoughts on LVMH's succession planning and the appointment of Cecile Cabanis? How do you think this will impact the luxury industry in the coming years? Share your insights in the comments below! https://lnkd.in/eh4tV8kq #DiversityinLuxury #Luxpreneur #Luxepreneur SuccessionPlanning #LuxuryIndustryLeadership #GenderDiversityInLuxury #BernardArnault #CecileCabanis #LVMH --------------------------------------------------------------------- ▶ I'm Elizabeth Solaru founder of the Diversity in Luxury Awards and I love coaching small luxury business owners. ▶ Interested in having me speak at your event? I'm ready to share insights on navigating the luxury market, captivating high-end clientele, and mastering the art of entrepreneurship. ▶ Let's connect! Reach out to me at [email protected] on how I can help you.

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Title: LVMH’s -3%: Par for the Course, A Warren Buffett-Type Stock and Luxury Bellwether Don’t let the analysts distract you sometimes they are no better than lobbyists. LVMH’s recent 3% dip in revenue is far from a red flag. As the bellwether of the luxury market with 75 powerhouse brands under its umbrella, LVMH is built to withstand short-term fluctuations. This minor dip is well within the margin of error for a company of its scale. For value investors, LVMH resembles a Warren Buffett-style stock: focused on long-term growth, stability, and diversification. Rather than tracking quarter-to-quarter performance, investors in LVMH should watch for long-term market trends and strategic positioning. On the other hand, companies like Burberry may need to adopt a more segmented strategy, similar to LVMH’s diversified brand portfolio. By targeting distinct customer profiles—such as high-end luxury, accessible luxury, and trend-driven fashion—Burberry can better capture varied consumer segments and reduce reliance on a single market. This approach could strengthen Burberry’s positioning and resilience, aligning it more closely with industry bellwethers like LVMH. #LVMH #LuxuryMarket #WarrenBuffett #ValueInvesting #BellwetherStock #LongTermGrowth #LuxuryFashion #Investing #SustainableGrowth @LVMH

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👟 🌟 𝐀𝐝𝐢𝐝𝐚𝐬 𝐜𝐨𝐮𝐥𝐝 𝐛𝐞𝐧𝐞𝐟𝐢𝐭 𝐟𝐫𝐨𝐦 𝐍𝐢𝐤𝐞’𝐬 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐬𝐭𝐫𝐮𝐠𝐠𝐥𝐞𝐬, 𝐌𝐨𝐫𝐠𝐚𝐧 𝐒𝐭𝐚𝐧𝐥𝐞𝐲 𝐬𝐚𝐲𝐬 The sneaker game is evolving, and adidas is stepping up its style! 🚀 Analysts are seeing a shift from chunky #basketball kicks to sleek terrace sneakers, signaling a new trend on the rise. Edouard Aubin and Grace Smalley, CFA's insights showcase Adidas' potential, prompting a double upgrade and a bump in price target. With Nike facing innovation hurdles, adidas could seize the spotlight with its strategic pricing and fresh approach. As Nike works to regain its edge, Adidas is gearing up for a leap forward. Don't miss out on this sneaker revolution! https://lnkd.in/gWBrhtCm #Adidas #Nike #SneakerTrends #StockAnalysis #fashionindustry #executivesearch

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Richemont and LVMH appoint CEOs faster than I update my wardrobe. 😃 Yes, there have been recent CEO changes at Richemont. ▪︎ Louis Ferla, current CEO of Vacheron Constantin, will succeed Cyrille Vigneron as CEO of Cartier starting September 1, 2024. ▪︎ Catherine Rénier, current CEO of Jaeger-LeCoultre, will succeed Nicolas Bos as CEO of Van Cleef & Arpels on September 1, 2024. ▪︎ Nicolas Bos, former CEO of Van Cleef Arpels, became CEO of Richemont effective June 1, 2024. ▪︎ Cyrille Vigneron will retire and assume the position of Chairman of Cartier Culture & Philanthropy for Cartier. But that's not all though... CEO changed at GIVENCHY ! Alessandro Valenti, former president of the EMEA region at Louis Vuitton, has been appointed as Givenchy's new CEO, effective immediately. Valenti succeeds Renaud de Lesquen, who is "giving a new direction to his career." The jewelry and retail sectors are becoming increasingly important for Richemont, and the company wants to prioritize these areas. The company is facing a slowdown in luxury sales, particularly in China, and wants to revamp its leadership to tackle this challenge. While Givenchy is still at the lookout for their next designer! #luxury #luxuryindustry #linkedinnewsindia

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China's luxury market appears to be facing new challenges as both inbound and outbound traffic recover. High taxes and logistics costs are just two reasons why pricing in the country often cannot compete with that in neighbouring markets such as Japan, or more widely in Europe. Hainan and its status as a tax-free haven helps to ease the taxation issue, but logistical challenges still remina for many brands - and this ongoing issue will only get worse are travel increases and the government works harder to keep spend in the country. This is not just an important moment for other key APAC luxury markets, but also for European markets looking to take advantage of the coming recovery in long-term traffic. So, I must ask once more, if price is an issue for this potentially high-spending shopper group, why is the UK government still not allowing visitors to shop tax-free? Throwing away an opportunity like this is criminal. Read my full thoughts on the situation in China's luxury market here: https://lnkd.in/e-fVYY_f #luxury #china #price

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What’s Galeries Lafayette’s secret to success in China? Uncover the EXCLUSIVE insights from the CEO - Nicolas Morineaux     🌟 Last December, Nicolas joined the department store chain with a mission to rejuvenate the brand from its 2013 model and transform it into what China shall offer today.    🔎 So, what makes Galeries Lafayette so special?    “Our department store model distinguishes us from shopping malls by focusing on DIRECT client engagement and delivering personalized shopping experiences,” Nicolas explains, especially with the help of WeCom/WeChat in collaboration with IT Consultis.    🔹 Data and Client Acquisition: Harnessing WeCom, Galeries Lafayette is now acquiring 100 new clients every week, engaging THOUSANDS of customers, and guiding them on personalized retention journeys.    This approach not only strengthens existing client relationships but also opens doors to new client acquisition!    🔹 Prospect Acquisition: WeCom clienteling also enhances their ability to capture prospects, representing future growth, and provides NEWFOUND REVENUE PREDICTABILITY.    Nicolas’ experience shows that nurturing 100 prospects typically leads to 20 potential transactions within three months max., representing a 20% INCREASE in future sales.    🔥 As China’s retail landscape transforms— with a surplus of in-city shopping malls and the government halting new mall licenses, reminiscent of the 'Retail Armageddon' seen in Japan in the 2000s and the US in the mid-2010s, “it’s a crisis without a playbook, and some store closures are inevitable”. This means intensifying competition for attracting brands and clients. As Nicolas puts it, “Ultimately, the primary focus for survival and success is CLIENT ENGAGEMENT.” 💬 For more secret recipes to win in China’s competitive landscape from Nicolas and other market experts, GRAB A COPY of ITC Insights Vol.1 whitepaper. DM me or download here: https://lnkd.in/eyw-a3hv #GaleriesLafayette #China #WeCom #Clienteling #CRM Image source: Groupe Galeries Lafayette

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🚨 Think You Know Chinese Shoppers? Think Again! 🚨 Even the most experienced teams face challenges converting Chinese shoppers, who are becoming a key demographic in travel retail once again - but one that can be highly selective and discerning. That’s why the Chinese Excellence Academy (CEA) by 2.0 & Partners is a game-changer, designed to help you overcome these hurdles and transform interactions into meaningful sales. Here’s why you must have it, even if you think you’ve got it all figured out: 👉 Bridge the Hidden Gaps Between Knowledge and Action Learn the subtle non-verbal cues and micro-cultural expectations that can turn a challenging interaction into a seamless sale. 👉 Leverage the Untapped Power of Exclusive Storytelling Discover how to create narratives around exclusivity, heritage, and emotional appeal—techniques that resonate deeply with Chinese cultural values and shopping preferences. 👉 Turn Complexity into Confidence with Real-Life Scenarios Equip your team to navigate high-pressure moments, like managing group shoppers or addressing language barriers, through interactive role-plays and real-world simulations. 👉 Stay Ahead in a Rapidly Evolving Market Chinese shoppers, especially younger and tech-savvy generations, are changing fast. The CEA delivers up-to-date insights and strategies to ensure you stay relevant and ahead of the curve. 👉 Transform Browsers into Brand Advocates Go beyond simply selling—use advanced engagement techniques to leave a lasting impression, turning even hesitant browsers into loyal customers and passionate promoters of your brand. Delivered online, on-demand, and packed with expert-led interactive learning, the CEA is more than a course — it’s your blueprint for unlocking the full potential of a demanding yet invaluable shopper demographic. 📌 Ready to turn every interaction into an opportunity? Learn how the Chinese Excellence Academy can transform your business today: www.academy.20partners.com #TravelRetail #ChineseExcellenceAcademy #CustomerExperience #Training #RetailStrategy #RetailInnovation  

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Luxury companies embrace sport to harness cultural capital If you’ve been watching the Olympics, you may have noticed that the winners receive their medals on Louis Vuitton trays. LVMH-owned CHAUMET also produced the medals, each with a small piece of metal from the Eiffel Tower. Many other LVMH-owned brands have a presence in Paris through a sponsorship deal worth an estimated € 150 million. But LVMH is not alone. Prada Group is a sponsor of China’s women’s football team. Zegna’s Thom Browne has dressed FC Barcelona; Loro Piana is the official outfitter of Juventus Football Club and Chivas Brothers has sponsored Manchester United. Tiffany & Co. has sponsored the NBA. Aston Martin F1 Team re-entered the world of Formula 1 in 2021/22 after decades’ long absence. So why is luxury embracing sport even more than before? Live viewing sets sport apart One of the biggest differences between sport and nearly every other form of entertainment – that is often streamed - is that you must watch it live to be engaged in the cultural conversation. This means that it drives a huge volume of live viewers, that is very valuable for brands. Appeal to a broader audience Embracing a wide range of sports is also a way for luxury brands to appeal to a broader, more aspirational audience. For whilst historically luxury brands were involved in moneyed sports such as sailing (Prada); polo (Ralph Lauren); and tennis (ROLEX, TISSOT), today many have embraced sports such as football and F1. Netflix documentaries have boosted sports’ appeal Netflix documentaries about particular sportsmen (eg. David Beckham) and sports (eg. Such as F1 through Drive to Survive) have increased the interest and engagement in many sports, and in some cases drawn in the female viewer. Sports stars most followed on social media Sports stars have become the new Hollywood. Cristiano Ronaldo is the most followed celebrity on social media, with greater numbers (917 million) than any Hollywood celebrity, such as Selena Gomez (688 million followers). So, sport has become one of the key ways in which luxury brands are harnessing cultural capital and I only see this trend continuing. I’d love to know what you think. Smith Square Partners #sport #fashion #luxury #culturalcapital https://lnkd.in/escmVXFB .

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While I always aim to maintain a positive and respectful tone, I find the recent Business of Fashion interview and justification for Chanel’s price increase on their leathergoods to be somewhat amusing and almost comical. When we break down the actual costs—leather, hardware, and labor—for a flap bag, even with the highest quality materials, let's say even the best French or Italian box calf, it’s evident that the total cost would be less than $1,000. Upon closer examination of the product and considering its expected wear and tear, it becomes apparent that Chanel’s price hikes are primarily aimed at boosting their profit margins, paying their rent, marketing budgets, as well as Peter Marino buildouts, and brand ambassadors-Penelope Cruz and Brad Pitt, as I currently write this opinion. While this strategy aims to create an even more luxury environment and exclusive position, it may burden clients who have reached a threshold. The real goal is obvious; for Chanel to position itself next to Hermes, considered the ultimate in luxury leathergoods. For one thing all of Hermes' bags are hand-made and Chanel's are not, something that a $10K bag should be required to be, at least to give some justification for such an exuberant price. However, it’s crucial to remind consumers that they themselves hold the power, and time will tell if clients new and old will pay $10K for a flap bag. I personally find it very difficult to digest that price for such a bag, especially after each SA opens the mirrored closets behind them, illustrating a plethora of the same machine-made bags stacked up against each other, losing their allure and perceived "specialness," and "craftsmanship." At least Hermes' sales associates wear white gloves and open up the orange boxes, as if the bag is seeing daylight for its first time, adding to the luxury experience. It is also my belief that vintage Chanel can remain a viable option for many, often boasting superior aesthetics and quality, compared to contemporary bags. Yes, their mianudieres and couture pieces today are extraordinary, but a clutch for $18K-$25K? I think one will get tired of a branded slot machine, scarab, or racing helmet. Then again, after almost 15 years, I am still thinking of the novelty clutches resembling the China and Russian dolls, that my Mom and I never bought, and wish we had back in the day, now selling for $45K on the secondary market!

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Collaboration in Luxury Fashion I’d Wait For: Skiwear Edition Three years ago, before jetting off to Aspen or Courchevel, ski fashion enthusiasts were on the hunt for this set by Chloé x Fusalp. I personally had three friends begging me to help them order it after I posted this video. The price for the set was around €5,000, but who cared? This capsule sold out so quickly that it barely made it to the shelves or online stores, leaving my friends without stylish ski gear. Three years later, I consider this capsule the most successful luxury skiwear release. While some brands are entirely ski-focused, they’re often perceived as more technical than stylish. On the other hand, fashion brands release a few stylish—but often less-than-perfect—ski collections each year, including #Dior, #Prada, and #Fendi. Last year, #BrunelloCucinelli joined the scene with their skiwear collection, which they re-released this year. I also caught a glimpse of #LoroPiana update this season. The demand, which none of these brands fully meet, is for skiwear that is stylish yet technical. Not overly fashionable (like the logo-heavy designs from Dior or Fendi) and not too understated (like Loro Piana and Brunello Cucinelli). The ideal would strike a balance between style and technicality. Based on the above, here are the dream collaborations I’d wait for: 💡#Celine x #MonclerGrenoble I can’t recall CELINE ever collaborating, so I’m not sure if it aligns with their brand strategy. However, considering the close relationship between LVMH and Moncler (mentioned here: https://lnkd.in/dqnvVqXn) trust me—if this capsule ever launched, it would sell out within days. 💡#Chloé x #Fusalp Given the past frenzy over this duo’s capsule, another release from them could be just as successful. 💡#BottegaVeneta x #Bogner I also considered #Cordova as a potential partner for tapping into the U.S. market, but they may be too new (founded in 2014) and currently don’t offer a men’s line. BOGNER on the other hand, has a long-standing history and a reputation for serious skiwear (unsurprising, given its German roots). With the recent “bright spot” from Kering financial report (mentioned here: https://lnkd.in/dScfCErt), this capsule could be a strong statement, especially for conservative male clients with a high purchasing power. Imagine German engineering with an Italian fashion twist🤌🏻 Yes, I've previously mentioned that we’re getting tired of endless collaborations (here: https://lnkd.in/dzXZfREU), because the general impression is that quantity takes priority over quality. It’s all about finding a thoughtful balance. *When I say live content is important, I know that for sure:) My digital lookbook project for luxury fashion brands is here: https://lnkd.in/dkap6PDz #luxury #fashion Christian Dior Couture #lvmh Prada Group Prada #Moncler Richemont #richemont #kering

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LVMH in true market leader style was the first in the procession of public brands that will release their Q1 2024 performance, and the results were reasonably in line with the market expectations. A year ago, a +3% organic and -2% like-for-like revenue growth would have likely caused shockwaves, but context is key. Asia (excluding Japan) clocked in at -6%, the majority of which is likely due to China. This will be less surprising for investors given the profit warning from Kering early last month which highlighted a muted performance in China. Two things really stood out from the meeting when it came to China: 🅰️ LVMH saw spending by Chinese customers rise 10 percent in the first quarter – Another supporting data point to the return of travel spending at the expense of the domestic market in China. Over exposure to China through rapid retail expansion during COVID, may impact other brands even more heavily in this case. 🅱️ “We are totally agnostic as to where the business with mainlanders takes place, whether it is in China, whether it is elsewhere in Asia, or whether it is outside Asia” - Jean Jacques Guiony CFO LVMH – a clear sign that it’s the consumer not the market that is important. While LVMH is clearly tracking in some way the nationality of its shoppers in its ability to attribute growth to consumers in a market agnostic way, it is also interesting that perhaps the 10% growth may be even larger if you consider the impact of the grey market. The Fashion and Leather goods branch grew at 2% organic rate. Based on our tracking of the grey market in China, LVMH Fashion and Leather Goods brands grew in excess of 20% from Q1 2023 to 2024 (at GMV basis and excluding Perfume/Cosmetics). This further underpins that at least in the top luxury segment demand has not dried up but instead has shifted in terms of customer journey (either directly to travel retail or through Daigou/Grey market sellers into China indirectly). LVMH is likely to be one of the top performers in terms of the big groups due to the strength of its portfolio, wholesale control, and focus on global pricing strategies. These are key areas that many other brands need to improve to optimize their growth. More Q1 revenue releases are on their way soon, and in chronological order here are the one’s I will be looking out for (all released at market close): Brunello Cucinelli – 17th April L'Oréal - 18th April Kering – 23rd April Ermenegildo Zegna Group – 23rd April The Estée Lauder Companies Inc. – 1st May HUGO BOSS – 2nd May Prada Group – 5th May Tapestry – 9th May Burberry – 15th May Richemont – 17th May There are of course others, but in the next month we can expect some interesting insights from across the luxury vertical. #China #Luxury #Performance

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In 2021, I left my permanent job at LVMH. Let’s be honest: letting go of a stable position and facing a significant drop in income is tough. I went from earning €40K to €15K in my first year. Yet, I’ll do all over again. At 34, after nearly 5 years as a marketing manager for LVMH in Italy, I was lost. My enthusiasm—the driving force behind everything I do—was gone. 𝗜 𝗵𝗮𝗱 𝗯𝗲𝗲𝗻 𝗼𝗻 𝗮𝘂𝘁𝗼𝗽𝗶𝗹𝗼𝘁 𝗳𝗼𝗿 𝗺𝗼𝘀𝘁 𝗼𝗳 𝗺𝘆 𝗹𝗶𝗳𝗲, keeping pace with the best. Literature high school diploma > Preparatory course > Top business school > Prestigious company > Good salary. 𝗜 𝗳𝗼𝗹𝗹𝗼𝘄𝗲𝗱 𝘁𝗵𝗲 𝗽𝗿𝗲𝘀𝗰𝗿𝗶𝗯𝗲𝗱 𝗽𝗮𝘁𝗵, checking all the boxes for success, chasing the goal to “own my Rolex before 40”. ESCP Europe: ✅ Richemont: ✅ LVMH: ✅ Yet, I couldn’t shake the question: "𝗜𝘀 𝘁𝗵𝗮𝘁 𝗿𝗲𝗮𝗹𝗹𝘆 𝘄𝗵𝗮𝘁 𝗜 𝘄𝗮𝗻𝘁?” In the beginning, LVMH was a thrill. Yet a day, the company pivoted. Totally in line with their brand identity. Less in line with my brand identity. So, pick down of my personal well-being at work. The days became routine. No more spark going to the office. I was increasingly drawn to entrepreneurs. The ones who build from nothing, gather passionate teams, and work for projects they truly believe in. I wanted to give myself the chance to do the same. I took the leap, resigned, and became self-employed. I set myself a challenge: 1 year to learn and test everything about digital marketing, find clients and find a kind of economic stability. 𝗥𝗲𝘀𝘂𝗹𝘁𝘀: 𝗬𝗲𝗮𝗿 𝟭: Revenue dropped from €40K to €15K 𝗬𝗲𝗮𝗿 𝟮: Increased from €15K to €48K 𝗬𝗲𝗮𝗿 𝟯: Grew from €48K to over €50K, despite two months of no income during my maternity leave. Over the years, I have built my reputation by helping ambitious fashion entrepreneurs develop and launch their marketing strategies. 𝗠𝗼𝗿𝗮𝗹 𝗼𝗳 𝘁𝗵𝗲 𝘀𝘁𝗼𝗿𝘆: Yes, it’s scary to take the leap and risk everything. You know what you’re leaving behind, but you don’t always know what you’ll gain. But I believe if you work hard to achieve to achieve your goals, it will pay off in the end.

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