Luxury Market Downturn, Executives Do Not Create Myth

In the first ten years of the whole industry, the luxury industry is just like an endless gold mine. The sharp growth of the Asian market has made the major luxury group find its second spring in the history of development. However, with the saturation of the market and the emerging market of emerging brand segmentation, the change of luxury consumption concept by the emerging wealth class and the development of the traditional luxury goods have gone quietly.

with Mulberry For example, last December, the group released the first half of last year. achievement The report showed that the group lost 410 thousand pounds, about 689 thousand dollars, and its sales volume dropped by 17%.

In recent years, Gucci's earnings report has also failed to report its success. Last October, it released the worst quarterly sales in the past four years. From last July to the end of September, brand sales fell to 851 million euros, down 19% compared with the same period in previous years.

For example, the watch Department of luxury brands such as Hermes. Management situation Unfortunately, it has become a common problem among many luxury goods groups. At the beginning of the year, the Swiss Franc broke through the upper limit of the euro exchange rate, making Rolex (Rolex) raise its price in Japan by about 8%, while Cartire (Cartier) raised 5% in the euro area, and Patek Philippe (Patek Philippe) expected to raise its price by 4%-5%. In China, as China's anti-corruption efforts continue to increase, the market as an important source of watches and watches in Switzerland and Europe is also shrinking.

Zhao Keqi, head of the luxury goods industry, told the Beijing Commercial Daily that in the past, the turnover rate of domestic luxury industry executives was significantly lower than that of the present. At present, luxury companies have further improved the examination standards for executives, especially sales executives, and the success rate of pushing candidates has been reduced by half.

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A few days ago, in order to find out the new luxury CEO Mulberry, the British luxury brand Mulberry announced the appointment of Thierry Andretta as the CEO of the company.

Following the resignation of chief executive Bruno Guillon last March, the old leather brand finally bid farewell to the embarrassing period of no CEO for a year. Bruno Guillon has worked in Hermes, and Mulberry's intention of digging Bruno Guillon is also hoping to rebuild Mulberry into another high-end niche. However, contrary to expectations, the Mulberry, which was originally extravagant and luxurious, raised the price of its products to 1000 pounds (about 9307.7 yuan). Emma Hill, the creative director of product design, resigned in 2013 because of her disagreement with Guillon, which made the company's operation worse than ever, leading to a collapse in share price and a total decline of 68%.

Another luxury brand, Gucci, is also facing a shortage of executives. Gucci creative director Frida Giannini and CEO Patrizio di Marco have recently left Gucci's Open Cloud group. The reason for this is that the deteriorating luxury market environment has made Gucci's recent sales unsatisfactory. A week before that, Gucci CEO Michele Sofisti, a watch and jewelry department, has just left.

The resignation of Hermes has added another example to the "shortage of executives" in the luxury industry. In case of declining sales of clocks and watches in Hermes International Group, Luc Perramond, chief executive officer of La Montre Herm s s of the watch Department of the group is ready to "run away". He will join the US fashion group Ralph Lauren Corp. Ralph Lauren in February this year as the CEO and President of the group watch and zhubao subsidiary.