Home / Knowledge / News / Apparel/Garments / Global luxury apparel firms record positive sales in H1
Global luxury apparel firms record positive sales in H1
31
Jul '13
Several global luxury apparel retailers have recorded positive growth in the first half of 2013 and the industry is expecting a boost in sales by the end of this year.

In a conversation with fibre2fashion, Nikoleta Panteva, senior retail analyst of IBIS World, said, “The global luxury market will rebound along with the global economy and it will be supported by emerging markets in Latin America.”

“Europe, specially France and the UK, China and Japan are large consumers of luxury items. In Europe and Japan, a dedication to quality and craftsmanship is the reason for the level of consumption, while growing incomes in China are allowing consumers to buy more expensive luxury items,” she informs.

Several luxury garment retailers including Kering, Hermes and LVMH have recorded positive sales in the first half of 2013.

According to Hermes, it is difficult to make projections for the full year 2013, owing to uncertainties concerning the economic outlook and currency fluctuations. However, in light of the sales achieved in the first half of the year, consolidated sales at constant rates could slightly exceed the mid-term growth target of 10 percent.

François-Henri Pinault, chairman and chief executive officer of Kering, said in a statement that the company delivered a solid performance in the first half of 2013, with revenue up 4 percent on a comparable basis and further growth in operating margin.

The Luxury Division continued to deliver robust growth, gathering momentum in the second quarter and powered by the solid performance in its directly operated stores and its mature markets, he added.

However, Ms. Panteva says, “Luxury apparel market is expected to slowdown in 2013 mainly due to the recessionary conditions in the Europe and China since they are the two key markets for luxury clothing.”

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X