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Luxury insightPresentation Transcript
1. Luxury insightSmall research of overall marketRomanian market reviewNew
business opportunities
2. What LUXURY is?• DESIGN• QUALITY• CRAFTMANSHIP• SERVICE“To
build reputation it takes decades”
3. Luxury Market Summary• Most important brand owners and distributor in
the luxury market: – LVHM (double digit growth in 2012) (Louis Vuitton, Moet,
Hennessey) – PPR (double digit growth in 2012) (Gucci, YSL) – Richemont
(double digit growth in 2012) (Dunhill, Cartier, Chloe) – Hermes (double digit
growth in 2012)• Fast growing emergent markets (ASIA – China)• UBS report
in 2010 says: – 50% of world luxury revenue comes from Asia – 50% of Europe
luxury revenue are Asian tourists
4. Luxury Market Summary• China is the 2nd largest consuming group of
luxury goods after USA while Europe is struggling with an organic growth of 1
digit last year• Biggest growth by gender is made by men’s luxur. Top 5
Brands of men luxury: E. Zegna, Hugo Boss, Dunhill, Armani, Burberry• Many
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luxury companies are going online – Armani.com – delivers in 27 European
countries – Escada to open e-shop in 2013 – PPR opened Stella McCarthy E-
store last year – Ittiere opened E-commerce business line for 35 countries –
Zalando open Emeza, luxury discounted E-store
5. Local Luxury Market• Local luxury market are divided by: – Products •
Watches & Jewelry • Fashion • Cosmetics and Fragrances – Investments •
Real Estates • Art – Way of life • Cars, Airplanes, Tourism • Home decorations,
Alcohol, Cigars
6. Local Luxury Market• Most of the luxury brands are present in the market•
Hermes, Chanel and Prada are not yet locally based• Local luxury market
decreased in the area of luxury cars, watches and accessories over the crisis
period• Fashion, accessories and cosmetics reported 20% decrease in 2008 at
the beginning of crisis• Meanwhile brands like Max Mara, La Perla, Pal Zileri,
Canali reported constant growth of 20-30% in 2008• In 2009 7 branded fashion
stores were closed• In 2009, 9000 people were clients of luxury products, while
in 2008 were 11,000 (CPP Management)
7. Local Luxury Market• 2010 luxury market of fashion and accessories goods
was nearly 50 million Euro (including counterfeit products)• Louis Vuitton
Romania reports 4.5 million Euro sales in 2010• Arts sales decrease to 8 million
Euro after 2008 of 31 million Euro sales. For 2013 it is said to be up to 25-30
million Euro.• 2011 reports a general growth of luxury products up to 500
million Euro• 50-60% of total sales represent cars luxury industry• 30% of the
market is represented by fashion luxury
8. Local Luxury Market• First half of 2012 reported a decrease of 30% of sold
luxury goods comparing 2011 same period• Gucci, Moschino, Dunhill,
Valentino, Emporio Armeni, Hugo Boss, Burberry decrease in sales based of
cost cut optimization of global strategy• Luxury cars industry grew with 39%
in the first half of 2012.• Real estate industry double the revenue comparing
same period of last year• Roberto Cavalli, Porsche Design and Montegrappa
opens first monobrand store in Bucharest• Frey Wille reported more then 1
million Euro revenue for a newly brands in the market
9. Romanian customer profile of luxurygoods• Billionaire or Millionaire –
Having more then 40 million Euro wealth – Buying most exclusivist brands like:
Hermes, L. Vuitton, Moet & Chandon, Rolex, Gucci, Prada• Top Managers and
business owners – Aspirants of luxury lifestyle – Expensive cars and watches
– Expensive travelers – Luxury consuming goods• Woman are more attracted
by fashion while man by cars
10. Romanian customer profile of luxurygoods• Online luxury customers are
seeking: – Fashion & shoes – 60% – Cosmetics & fragrances – 46% – Food &
Alcohol – 26%• 31% of urban inhabitants will buy a luxury product next year –
47% of them are 32-47 y.o. • Active professionals and married • Daily usage of
internet with high education • Analytical and pragmatic
11. Romanian customer profile of luxurygoods• 37% of them are between 18 to
31 years old – Technological addicted – Self focused and self inventive –
Appreciate variety – Unmarried with middle – high education• 16% of them are
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between 48 to 64 years old and married
12. Local luxury reports
13. Local luxury reports
14. Conclusions & Opportunities• Luxury market in Romania after a period of
decrease started to gain more value. Specialists reported growth for 2013 in
most of the luxury segments• New fashion brands established monobrand
store and other are to come in 2013 and 2014 as luxury fashion will increase
this year• Cars luxury is to growth in exclusivist segment and to stabilize on
the other with perspective to grow• Online luxury is the new trend in business•
Romanian luxury customers will be more interested in high services in order to
gain loyalty• 2013 to pass half a billion Euro market value in Romania
15. Business Concept Online Luxury Store that will sell fashion, jewelry,
consuming goods, IT & Gadgets luxury brands
16. Competition• For the online segment there are couple of websites which
sells luxury goods but there is not a dominant player
17. Risks• Even the luxury market stabilized a little and in some areas a growth
took place there are a few risks due to the instable economical situation – The
Romanian millionaires power of purchase decreased with 30% over the last
year – Big counterfeit market and no clear strategy to avoid the phenomenon
over the local authorities – Many international brands opened online stores
with delivery to Romanian market
18. Thank you! • LESS IS MORE • MORE IS BETTER • KEEP IT SIMPLE
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