Now Reading
French luxury industry still in great shape, according to Deloitte

French luxury industry still in great shape, according to Deloitte

The auditing firm Deloitte has just unveiled a study on the world’s leading luxury brands. French firms are not experiencing the crisis, as half of them make up the top 10.

 

Despite the global pandemic, the French luxury industry is doing well and has even strengthened. In fact, no less than 5 French groups have made it into the top 10 of the world’s leading luxury companies. Deloitte has studied the sales figures of these major groups and LVMH (34 billion dollars) keeps its place at the top of the ranking, ahead of Kering (14.93 billion), followed by the American group Estée Lauder.

 

In 5th position, we find the L’Oreal group (11.6 billion), then the Chanel house (10.11 billion) in 6th position. New this year, Hermès (7.28 billion) joins the ranking, in 9th place. The latter offers a net margin of 21.7% in 2020, despite a 7.2% decrease compared to 2019.

 

Bénédicte Sabadie, head of the luxury sector at Deloitte explains that Hermès “has benefited from its internationalization, and a multi-product offer, leather goods, fashion and perfumes.” Indeed, the group has “the strongest growth over three years.”

 

Between 2019 and 2020, the global revenues of these luxury groups still fell by 29 billion, to 252 billion dollars. According to Deloitte, the luxury sector has been able to diversify and opt for online sales. This way of consuming has attracted a new profile “20% of consumers in the sector (…) had never bought luxury goods before,” notes the firm.

 

Louis: the game © Louis Vuitton

 

Finally, let us note the arrival of NFTs, which have conquered the world of luxury. They are gaining the loyalty of a young population in search of new experiences and are in line with the times. Digitalization no longer scares luxury groups, which are adapting, like the partnerships with video games like Balenciaga with the game Fortnite or the mobile application Louis the game, released last August by Louis Vuitton. The ranking also gives pride of place to Italian firms, in a very good position.

See Also

 

 

Read also > HERMÈS TO EXHIBIT AT THE “ÉCOLE DES BEAUX-ARTS” IN PARIS

 

Featured photo : © Getty Images

What's Your Reaction?
Excited
0
Happy
1
In Love
0
Not Sure
0
Silly
0

COPYRIGHT 2021 LUXUS + ALL RIGHTS RESERVED

Scroll To Top