Luxury Consumption In Mainland China Exceeds Japan, Europe And Japan, And Accounts For 1/4 In The World.

Yesterday, China Council for trade promotion and the world

Japan and Europe

Yesterday, the World Luxury Association released data showing that in 2010, the total consumption of luxury goods in mainland China reached 10 billion 700 million dollars (excluding private aircraft, yachts and luxury cars). Now it has become the second largest luxury consumer in the world after Japan.

It is estimated that in the first quarter of 2012, China will surpass Japan in the first quarter of the new year, Spring Festival and Valentine's day, and become the world's largest consumer of luxury goods.

Andy Kline, an international research fellow at the World Luxury Association, said at a press conference that because of the appreciation of the renminbi and the depreciation of the euro, the purchasing power of Chinese consumers in the international market has increased. At present, Chinese luxury goods abroad are already the number one in the world.

Last year, Asians bought luxury goods in the European market totaling $69 billion, while the Chinese consumed 50 billion dollars in total.

Andy Kline said that since the economic crisis, luxury goods sales in Europe and the United States have dropped significantly.

The Japanese earthquake of March this year is a great blow to Japan, the world's first luxury consumer.

During this period, China has been in the stage of rising luxury consumption.

Luxury tax rate is the highest in the world.

It is worth noting that the consumption of Chinese abroad is 4 times larger than that of the domestic market, and consumption is seriously shifting.

Ouyang Kun, the chief representative of the World Luxury Association, believes that this is mainly due to the separation of luxury goods at home and abroad. The current rate of China's luxury goods market is the highest in the world.

The report shows that China's luxury consumer groups will continue to climb from the current 200 million people. Currently, the two or three line urban population in China is mainly supporting purchasing power.

The first specialized platform was established.

In addition, yesterday, the China Council for the promotion of commodities and the World Luxury Association jointly announced the establishment of the China luxury Trade Commission in Beijing.

The Commission will introduce the world's top luxury goods resources, mining local luxury elements, such as tea, jade, silk, etc., to promote the internationalization of local luxury goods enterprises.

Before, there was no special luxury trade platform in China.

Yang Xiaodong, director of the committee, said that the China luxury Trade Commission will actively promote the internationalization process of the domestic luxury goods industry.

Analysis

Psychological characteristics of younger age and showing off wealth are obvious.

The Chinese representative of the World Luxury Association says this is unhealthy.

Some netizens believe that the prosperity of our luxury market is neither healthy nor sustainable.

To this end, yesterday, Ouyang Kun, the chief representative of the World Luxury Association, said that the prosperity of China's luxury market is the accumulation process of China's economic prosperity, and is the result of continuous progress and development of the society, and is sustainable.

But there is also a problem in the process of rapid development, that is, Chinese luxury consumers are "younger", showing psychological characteristics of showing off their wealth, which is unhealthy.

According to the World Luxury Association survey, on the structure of consumers, Chinese luxury consumers show a "younger age" feature: 73% of Chinese luxury consumers are less than 45 years old, and 45% of luxury consumers are between 18 and 34 years old.

Ouyang Kun said that the youngest luxury consumers in the world are in China.

The first generation and the second generation of entrepreneurs in China failed to enjoy life much in the process of starting their own businesses, so they passed this hope on to their children, hoping that they could enjoy it, leading some pupils to use the best mobile phone, the best schoolbag and the best pen.

These children began to use value when they did not create value, and they lost their motivation to create value for a long time.

And their thinking may affect several years, decades or even the next generation.

At the same time, the excessive growth rate of the market and the psychology of flaunting the rich will lead to a great gap and instability in Chinese social strata.

This requires government and associations to guide luxury enterprises and consumers to rely on public welfare and charity to increase their sense of social responsibility.

Social responsibility is the link between the upper and lower levels of society.

Capital market

Luxury brands get together to list in Hong Kong

"Going public in Hongkong" is becoming the latest fashion in the luxury industry in Europe and the United States. According to the statistics, 4 luxury companies have listed or disclosed plans since May.

This week, Prada, a well-known luxury brand in Italy, said it will make an official public offering in Hongkong next Monday.

The market forecasts that its P / E ratio will be much higher than that of other luxury companies listed in Europe and the United States.

Since May, a number of luxury goods, including Prada, have revealed progress in Hongkong IPO, including the luxury goods retail companies Milan station and Samsonite, which is going to be listed in Hong Kong this month.

In addition, Coach, the US handbag brand, initiatively disclosed Hongkong's listing plan in early May, and is expected to realize Hongkong's listing in 2011.

Market participants pointed out that Hongkong's capital market has always been active, and is also close to the hottest market of luxury goods. Like Coach, a company that is not short of money is listed for marketing, and Prada, like financing pressure, can achieve win-win results.

The first luxury fund in China was born

China's first luxury industry fund focused on the world's top consumer goods industry and related stocks.

On Wednesday, Wells Fargo said its global luxury equity fund has been approved by the SFC and will be publicly raised in the near future.

The rich world's top consumer goods equity fund will invest in the world's top consumer company, including top consumer goods manufacturers and top consumer service providers, whose performance benchmarks are the Dow Jones luxury index.

The luxury giant Louis Weedon group, which has Cartire's peak group, and the Paris spring group, which owns Gucci, is a famous constituent stock of the index.

Benefiting from the strong demand of emerging market countries, the global luxury industry has been the first to recover after the financial crisis.

A fund worker pointed out that investing in luxury funds to some extent also means buying money from luxuries again.

Taking Louis Weedon as an example, the group's net profit surged 73% in 2010, benefiting from the strong demand in the Asian market and the recovery in the European and American markets.

(Wu Min)

Little knowledge

The current price of luxury goods in China is:

Raw material 5%+ processing cost 6%+ luxury brand added value (usually retained profit) 55%+ advertising and public relations activity cost 5%+ flagship store annual cost 3%+ manpower cost 6%+ government tariff, consumption tax, partial value-added tax and other comprehensive import tax rates 20%