UNIC highlights mixed picture for luxury brands
09/10/2017
The report, the work of the economics team at Italian tanning industry association UNIC, said the luxury sector, in general, had enjoyed a positive six months. Brands it quoted as having had particularly impressive growth in revenues included Gucci (up by 43% on the same period in 2016), and Yves Saint Laurent ( up by 28%).
It also pointed out that Louis Vuitton, Céline, Fendi, Loewe and Berluti all contributed substantially to a revenue increase of 14% for the fashion and leather division of LVMH. And while Hermès recorded revenue growth of 10%, its leathergoods division achieved growth of 12%.
However, the Market Insights report also pointed out that revenues for the first half of 2017 were down at Tod’s by 3%, with the Tod’s brand registering a 6% decline and Hogan 7%, while the Roger Vivier and Fay brands presented growth (of 11% and 4% respectively).
Prada’s results were also negative, with a 6% decline in revenue for the whole group over the six-month period, with downturns of 8% for the leathergoods division and of 9% for the footwear division. The decline in revenues at prominent Prada footwear brand Church’s was 11%.
Image: Prada
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