April, 24, 2020

Post-Covid-19 luxury: will China keep its promises?

Press

Published by Dominique Muret | Fashion Network, April 24, 2020

Placed in quarantine at the end of January because of the coronavirus pandemic, China gradually resumed its activities after a month and a half of containment. While the luxury goods industry has started to reopen a large part of its stores in this country and hopes to receive a decisive recovery signal there, the first returns are heralding a recovery between light and shadow, while sketching the contours of a market that will be very different from the one before Covid-19.
On the occasion of the publication of the quarterly results of the main players in the luxury goods sector, the first promising indications are coming from the Middle Kingdom. On 16 April, the giants L’Oréal and LVMH reported a positive trend. Between January and March 2020, the world leader in cosmetics recorded a 6.4% increase in sales in the country, which “already shows an encouraging recovery in the consumption of beauty products,” according to CEO Jean-Paul Agon. For his part, LVMH’s Chief Financial Officer, Jean-Jacques Guiony, said that in April, for the group’s main brands, namely Louis Vuitton, Dior and Sephora, “the recovery has been rapid, with growth rates of 50% as of April 15”.

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#China #Coronavirus #Containment #FashionNetwork

April, 24, 2020

The challenge of luxury touring blocked: conquer Chinese shopping in Asia

Press releases

How to restart global luxury shopping? “Recovering the Chinese question, at the home of the Chinese: this is the subject on which all the fashion house will have to practice in the coming months, or rather years”, Luca Solca, an analyst from Bernstein who has put under the lens with Promise Consulting, tells L’Economia, the trend of the recovery of luxury at the time of Covid 19 (the latest survey photographs the situation between 6 and 10 April).

 

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April, 24, 2020

Coronavirus screening: the reasons for the French testing fiasco

Press

Published by Stéphane Foucart and Stéphane Horel, April 24, 2020

Procurement difficulties, government delays, corporate and regulatory gridlock have cost the country precious weeks.
“Test, test, test! “No advice to combat Covid-19 has been less followed in France than that given on March 16 by Tedros Adhanom Ghebreyesus, the Director General of the World Health Organization (WHO). Yet the idea is simple. Screening people suspected of carrying the virus, even if they are only slightly symptomatic, makes it possible to isolate them and break the chain of transmission of the disease.

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#covid19 #economy #france #consumption

April, 23, 2020

“What makes it more difficult for China’s economy to recover is the ban on travel inside and outside the country.”

Event / Interventions / Press releases

The Chinese economy is experiencing a historic downturn, with gross domestic product falling by 6.8% in the first quarter of 2020. This fall casts doubt on Beijing’s ability to meet its annual growth target of 5.5%. Philippe Jourdan, marketing professor and CEO of Promise consulting, comments on these figures on RT France.

 

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April, 19, 2020

Economic recovery: will Europe and the United States follow China’s example?

Press

Published by Herve Dewintre | Fashion United, Sunday 19 April 2020

The announcement of sales recorded by the Hermès boutique in Guangdong – $2.7 million in one day – on the opening day after the lockdown, rekindled hope in Europe and the United States. Everyone saw it as a sign of a brilliant recovery along a V-shaped curve well known to economists: business stops and then, in a few weeks, returns to its normal pre-crisis level.
Is what China is experiencing transposable elsewhere? Will GDP rebound to its previous level? The first observation is that the recovery in China is real, and all the signals are encouraging. “It looks like a fairly strong recovery, based on the data we have,” said Robin Brooks, formerly of Goldman Sachs, now Chief Economist at the Institute of International Finance (IIF). The IIF is a Washington-based global association of major banks and financial institutions that was founded in 1983. In 2011, it was notably charged with negotiating the write-down of the value of Greece’s receivables.

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#Europe #Consumption #Coronavirus #Hermes

April, 19, 2020

A disruptive global context

Press releases

While the health and economic crisis had not yet completely broken out in France on 4 March, the words of the speakers at the 18th Luxury and Design Summit are today taking on a particular resonance in this period of confinement.

In this respect, I would like to pay tribute to the masterful thinking of Bertrand Badie, professor at Sciences Po. The analysis you will find below not only helps us understand the disruptive global context in which the luxury industries will have to build their future development strategies, but also deciphers the weaknesses of our economies in the face of COVID-19.

April, 19, 2020

Surprise rebound of industry in China, but a black scenario threatens

Event / Interventions / Press

Published by CHANTAL LE ROUX, 19 APRIL 2020

Promise Consulting, a consulting firm, and Panel On The Web, a marketing, consumer and opinion research institute, surveyed 600 urban Chinese in the top 10% of households with the highest incomes between 26 and 29 April 2020. Three questions were asked as part of an international tracking study on the prospects for a rebound in household consumption worldwide following the #Covid crisis19 :

Frequency with which individuals engaged in a range of economic, cultural and social activities before the Coronavirus crisis.
Slowing down of each of these activities compared to the rate before the Coronavirus crisis.
Anticipation of a return to normality within the next 15 days.

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#Coronavirus #France