Luxury Goods Retailing - Global : Market Research Report

Luxury Goods Retailing - Global

Published by: Mintel International Group Ltd.

Published: Aug. 1, 2008 - 325 Pages

Insights and Opportunities: The rise of experiences; Emerging markets; Green & ethical; A sharper luxury proposition
Market in Brief: The future; Mature markets; Emerging markets; What’s next?; Market size and performance; Regions; Products; Channels of distribution; The competitive landscape
Report Scope: Terms and definitions; Luxury goods - A definition; Exchange rates; Regions; Product categories; Technical notes; Financial definitions; Abbreviations
Broader Market Environment: Key points; Weakening GDP growth bodes trouble for luxury; A good run coming to an end?; Advanced economies the weak link; Weathering the storm in emerging markets?; Stock market volatility adds to woes; From bull to bear in 2006; Declining markets makes demanding shoppers?; Strong euro, weak dollar - mixed news for luxury groups; Luxury and the tourist - here come the Chinese; Number of HNWIs rising steadily
Internal Market Environment: Corporate activity; The past; The future; Mono-brand or multi-brand model?; Mono-brand; Multi-brand; The Armani and Zegna solution; What went wrong at Prada?; A new Italian conglomerate?; Brand diversification; No such thing as a specialist?; Getting it wrong - overexposure; Fewer risks in expanding ‘sideways’; Experiences - the next frontier?; Not just a store; Living the brand; A new revenue source; Counterfeiting; Not a substitute…; …but an issue; Luxury brands take on eBay; Protection
Global Luxury Goods Market: Market size; Others; Market size at retail selling prices; Market drivers; Market shares; Market size by region; Regional coverage by company; Market size by product; Product coverage by company; Market size by channel
Market Forecasts and Outlook: Forecasts; Key regions; Outlook
Channels of Distribution: Introduction; Main channels; Stores and concessions; Key points; Control vs. financial risk; Branded stores; Stores communicate brand; Quest for control; Franchise favoured for new markets; What about the credit crunch?; Branded stores - trends; Concessions; A long-running collaboration - mutually beneficial; Concessions - their role today; The tax-free/duty-free market; Key points; The travel retail sector; Breakdown by region; Breakdown by product category; Leading travel retailers; Trends; Definitions; Online - A limited presence; Key points; The web cannot be ignored; Pros and cons; The luxury experience - cluttered; Making contact with the product; Taking control; Online presence limited; … geographically; …and in terms of products; Sales - marginal; Potential - considerable; Who’s innovating online?; Licensing; Key points; Definition; Pros & cons; Main product areas and operators; Perfumes and cosmetics; Eyewear; Watches; Underwear and swimwear; Trends
Product Market Analysis - Introduction: Introduction
Fashion and Leather Goods: Key points; Definition and scope; Market size; Leading players; Market concentration; Trends and innovation; What’s next?
Perfumes and Cosmetics: Key points; Definition and scope; Market size; Leading players; Trends and innovation; What’s next?
Jewellery and Watches: Key points; Definition and scope; Market size; Leading players; Trends and innovation; What’s next?
Regional and Country Analysis - Introduction: Introduction
Europe: Introduction; Population; High Net Worth Individuals; Economy; Consumer expenditure; Retail sales; Luxury goods market; Brand presence; SWOT; Strengths; Weaknesses; Opportunities; Threats
US: Introduction; Population; High Net Worth Individuals; Economy; Consumer expenditure; Retail sales; Luxury goods market; Brand presence; Channels used; SWOT; Strengths; Weaknesses; Opportunities; Threats
Japan: Introduction; Population; High Net Worth Individuals; Economy; Consumer expenditure; Retail sales; Inflation; Luxury goods market; Brand presence; SWOT; Strengths; Weaknesses; Opportunities; Threats
China: Introduction; Population; High Net Worth Individuals; Economy; Consumer expenditure; Retail sales; Luxury goods market; Brand presence; SWOT; Strengths; Weaknesses; Opportunities; Threats
India: Introduction; Population; High Net Worth Individuals; Economy; Consumer expenditure; Retail sales; Inflation; Luxury goods market; Brand presence; SWOT; Strengths; Weaknesses; Opportunities; Threats
Brazil: Introduction; Population; High Net Worth Individuals; Economy; Consumer expenditure; Inflation; Luxury goods market; Brand presence; SWOT; Strengths; Weaknesses; Opportunities; Threats
Russia: Introduction; Population; High Net Worth Individuals; Economy; Consumer expenditure; Retail sales; Luxury goods market; Brand presence; SWOT; Strengths; Weaknesses; Opportunities; Threats
Brand Elements: Brand map; Jimmy Choo; What the brand is trying to achieve; What the consumer thinks; Ray-Ban; What the brand is trying to achieve; What the consumer thinks; Chanel; What the brand is trying to achieve; What the consumer thinks; Giorgio Armani; What the brand is trying to achieve; What the consumer thinks; TAG Heuer; What the brand is trying to achieve; What the consumer thinks; Rolex; What the brand is trying to achieve; What the consumer thinks; Van Cleef and Arpels; What the brand is trying to achieve; What the consumer thinks; Tiffany; What the brand is trying to achieve; What the consumer thinks; Brand qualities of luxury goods brands; Tiffany, Bvlgari, Cartier most aspirational’ Cartier most prestigious; Experience of luxury goods brands; Chanel has touched all our lives; Brand intentions for luxury goods brands; Van Cleef and Arpels lacks knowledge to rival the rest; Brand momentum for luxury goods brands; Jimmy Choo Choo; Brand satisfaction for luxury goods brands; Tiffany, Bvlgari, Cartier, Chanel fragrances top excellent satisfaction; Brand commitment to luxury goods brands; Tiffany’s most worth it; Chanel has most affection; Round up
Armani: Background; Financial performance; Distribution; Brand offering; e-commerce
Burberry: Strategic evaluation; Background; Financial performance; Distribution; Brand offering; Market positioning/target audience; Product offer; Product pyramid and brands; Advertising; e-commerce
Christian Dior Couture: Strategic evaluation; Background; Ownership; Financial performance; Distribution; Brand offering; Market positioning and values; Product offer; Marketing
Ermenegildo Zegna: Background; Financial performance; Distribution; Brand offering; e-commerce
Escada: Strategic evaluation; Background; Financial performance; Distribution; Brand offering; Market positioning; Product offer; Brands; Marketing
Estée Lauder: Background; Financial performance; Distribution; Retail presence; Brand offering
Gucci Group: Strategic evaluation; Background; PPR ownership; Group financial performance; Distribution; Brand offering and market positioning; Product portfolio; Who’s innovating; Advertising and marketing; Online and mail order
Hermès International: Strategic evaluation; Background; Financial performance; 2007 highlights; Sales by region; Sales by product category; Distribution; Brand offering; Market positioning; Product offer; Marketing
L’Oréal (Luxury Division): Background; Financial performance; Sales by region; Sales by segment; Distribution; Brand offering; Market positioning; Product offer and star lines
LVMH Holding: Strategic evaluation; Background; LVMH brand portfolio; Group financial performance; Sales by region; Performance by brand; Group interim results 2008; Distribution; Store developments by luxury brand; Brand offering; Market positioning and brand essence; Product offer; Innovation; Marketing; e-commerce
Polo Ralph Lauren: Background; Financial performance; Distribution; Brand offering; Marketing; Distribution; e-commerce
Prada: Strategic evaluation; Background; Financial performance; Distribution; Brand offering; Product offer; Operational issues; e-commerce and home shopping
Richemont: Strategic evaluation; Background; Financial performance; Sales by product type: Watches at core, leather steams ahead; Distribution; Brand offering; Market positioning; Product offer; Operational issues; Advertising and marketing; e-commerce and home shopping
Shiseido: Background; Financial performance; Geographical performance; Distribution; China; Brand offering; Advertising and marketing
Swatch: Background; Financial performance; Distribution; Brand offering
Tiffany & Co: Strategic evaluation; Background; Financial performance; Distribution; Brand offering; Market positioning/brand values; Product offer; Brands; Price; Advertising; e-commerce
Valentino Fashion Group: Background; Financial performance; Distribution; Brand offering; e-commerce
YSL Beauté: Background; Financial performance; Distribution; Brand offering; Market positioning/brands; Operational issues

Abstract

This report differs from other Mintel retail reports in the sense that it looks primarily at companies that are involved in design, manufacturing and distribution, rather than pure retail. The turnover for these companies and therefore our market size includes elements of retail turnover, wholesale sales to franchisees and concessionaires plus income from licence agreements.

The report includes profiles of the top seven luxury operators by turnover including the major ‘multi-branded’ players LVMH, Richemont and the Gucci Group. Shiseido and L’Oréal also feature in our top seven although they have large mass-market operations. However in the case of L’Oréal we have been able to hone in on its luxury division, but Shiseido does not split this out separately and so it appears higher up our rankings than it would do otherwise.

We have also profiled a selection of 11 other luxury players including Burberry, Hermès, Tiffany & Co and Swatch, providing a good spread of interest in terms of product categories and geographic markets. In April 2008, YSL Beauté (part of the Gucci Group) was acquired by L’Oréal. Given its recent change of ownership, we have covered this business as a separate profile outside of either parent company.

The luxury goods market is notoriously difficult to put a size to, in fact it is hard even to find any consensus concerning what comprises luxury. Brands such as Tommy Hilfiger and Polo Ralph Lauren, which by European standards might well be perceived as having a casual focus, represent a significant part of the luxury end of the spectrum in the US market, which does not have a history of couture. For this reason they are included in Mintel's market size. Although more companies are starting to publish consolidated turnover, the mix of elements mentioned above further muddies the waters.

Mintel has derived its own global luxury goods market size using a bottom-up analysis of the top 27 companies operating in the sector, and by estimating the likely balance derived from the remainder of the market. In this report we have published four years of trend data, based on this methodology.

Our market size thus represents the collective consolidated sales of all the players operating in this market which we believe provides a useful guide to growth and the performance of each company within this framework.

In addition we have broken the market size down by region and by major product category over the four years. However, given the above caveat, we would advise readers not to regard these as absolute figures but as indicative only.

It should be noted that the market size does not represent the value of the global luxury goods market at retail selling prices. We have however included a figure for this in the report based on our estimate of average wholesale to retail mark-ups and licence income.

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Luxury Goods Retailing - Global

Table of Contents

Abstract