Classic European luxury loses its position.
a decrease in sales in Asia, the sagging shares of LVMH (-12% from the beginning of the year), the decline in revenue from Kering and Richemont-all this indicates the onset of a new era.
What is growing? He took off 14 times after the IPO in Hong Kong.
the trend is called Guchao - “Chinese chic”. This is a cultural and consumer shift that moves the market and money. The interest of generations Z and millennials in national luxury is not a fashion, but an investment possibility.
Bain and WSJ already recognize: the generation Z is ready to buy Chinese if it is premium. China’s domestic market is the fastest growing for luxury. IPO and growth are real now.
Conclusion: Venture and funds looking at the High-End segment are increasingly looking for not “new Hermès”, but by the new Laopu. Revaluation of Luxury geography has already begun - do not miss it.
useful material on this topic here
for Alrosa and Polyus
