Chanel overtakes LVMH in China luxury leathergoods table
01/07/2013
Geneva-based DLG has published the finding in the recently published second edition of a report called the World Luxury Index China.
Chanel overtook Louis Vuitton thanks to rising interest in product segments such as beauty, whereas interest in the Louis Vuitton in China still centres more on leathergoods.
Founder of the consultancy, David Sadigh, said on announcing the headline findings: “Louis Vuitton has reported a disappointing first quarter, while brands from different segments ranging from Chanel to Coach or Burberry are continuing to grow. Though rapidly evolving, the Chinese market is still developing. In order to stay ahead of the game, brands must have the ability to adapt quickly thus reducing the risk of brand saturation. In the case of Louis Vuitton, LVMH has already shifted gears, putting the brakes on its global expansion, whilst raising prices and developing more upmarket leather products.”
Automotive brands account for more than half the places in DLG’s top 50, while beauty brands command almost a quarter. Fashion, the category in which DLG includes luxury leathergoods brands, accounts for 15% of the total. Salvatore Ferragamo and Moncler have fallen out of the top 50 in this second edition of the report.
Audi is top of the entire list, followed by BMW. Chanel is in third place overall. Emphasising the growth of the beauty market, Estée Lauder is fourth, followed by LVMH in fifth overall. Lexus, Mercedes Benz, Dior, Porsche and Lamborghini complete the top ten.
Other leathergoods brands in the top 50 are Gucci and Hermès in 12th and 13th respectively, Cartier, Burberry, Coach and Prada in positions 19, 21, 22 and 24.
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