Sonai International Exim’s Post

Luxury Brands Navigate Trade Tensions During Xi Jinping’s Visit to France During Chinese President Xi Jinping’s visit to France, concerns arise among luxury brands regarding trade tensions between the European Union and China. These tensions, fueled by increased investigations and potential tariffs, have put pressure on the luxury sector, particularly as China represents a significant portion of global luxury sales. The COVID-19 pandemic disrupted traditional patterns of luxury consumption, with wealthy Chinese tourists unable to travel to Europe due to restrictions. As China’s recovery from the pandemic slows and consumer confidence wavers, luxury brands are eager to regain favor with Chinese shoppers. At the forefront of discussions during President Xi’s visit are issues such as tariffs and regulatory barriers. The EU’s scrutiny of Chinese state subsidies has led to retaliatory measures, including threats of increased customs duties on European spirits. Luxury conglomerate LVMH’s CEO, Bernard Arnault, expressed hope that the visit would ease economic tensions and foster continued collaboration between France and China. Particular... https://lnkd.in/dfcc3N3i

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Hedging your bets vs. dust off your agile strategies: The Future of Luxury; Diversifying Beyond China Under Xi Jinping's leadership, China’s pivot from consumer-driven growth to state-led industrial exports has disrupted the luxury market. Key challenges include: Consumer confidence at historic lows. A fading vision of a consumption-led economy. Declining middle-class spending power, once the growth engine for luxury. For decades, Chinese consumers drove luxury demand, but now the industry faces a stark reality: LVMH saw its first sales dip since the pandemic, down 3% last quarter. Burberry reported over a 20% YoY drop in mainland China sales. Swatch Group experienced a 14.4% decline in H1 2024 sales, partially due to weaker Chinese demand. Strategies for Resilience To thrive, luxury brands must shift gears: Target New Markets: Emerging regions like India and Southeast Asia could add 50M upper-middle-class consumers by 2030. Localize Offerings: Create culturally resonant collections and work with local influencers. Leverage Technology: Use AI for personalisation and strengthen omnichannel strategies. Focus on Experience: Tailor flagship stores to regional preferences. Balance Accessibility: Offer luxury staples blending affordability with craftsmanship to attract aspirational consumers. Luxury’s future depends on reducing reliance on China and finding growth in untapped markets. Will brands adapt fast enough to thrive in this shifting landscape as economic policies evolve? #FutureOfLuxury #LuxuryDiversification #GlobalMarkets #EmergingEconomies #ChinaEconomy #LuxuryBrands #BrandStrategy #MarketShift #Burberry #BurberryForward

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Luxury Market Forecast: A Decline Coming in 2025? A recent Bain consultancy study indicates that global sales of personal luxury goods are expected to shrink for the first time since the Great Recession. This downturn could be worsened by potential tariffs of up to 20% proposed by former President Donald Trump, which may lead to significantly higher prices for European luxury brands. Claudia D’Arpizio of Altagamma notes that while the study didn’t directly address tariffs, the overall impact could depend on their implementation. #LuxuryMarket #EconomicForecast #GlobalEconomy #LuxuryGoods #EuropeanBrands #Tariffs #TradePolicy #DonaldTrump #LuxuryIndustry #EconomicTrends https://loom.ly/hmuc0bM

A few months ago I posted a story about Johnnie Walker in Nigeria Producers of Johnnie Walker to establish Nigerian entity as Guinness stops sale of whisky https://lnkd.in/eDdbDtrw Now here is a second story about whisky in West Africa, this time from Ghana, suggesting whisky is part of an unprecedented growth in demand for luxury goods across the continent. African Luxury Whisky: The Macallan’s Journey As The Macallan raises a toast to its 200th anniversary, it isn’t just celebrating its own legacy; it’s also heralding a new era for luxury whisky in Ghana. This move reflects a broader trend across Africa, where the appetite for luxury goods is soaring, making it a golden age for spirits like whisky. Africa, often dubbed the “final frontier” for luxury goods, is experiencing unprecedented growth. Reports by KPMG predict a significant rise in the African luxury market, driven by factors such as a burgeoning middle class, rapid urbanization, and a surge in high-net-worth individuals (HNWIs). https://lnkd.in/e6fc9cVN https://lnkd.in/eCq_5vS4 #whisky #ghana #bournerecruitment #africarecruitment #africajobs Bourne Recruitment

Turkey is a fabulous trade partner to Middle East, Europe and USA. Day by day more USA companies are selecting Turkish factories asspecially at Furniture, Homeware , Home textile industry as it has big logistics advantages at delivery to East USA coasts and ports. Presently it takes 30-37 days from Turkey ports to USA with around 3200 usd / 1 x40 Hq containers. It seems that more USA companies will select Turkey/Turkiye as partner at year 2024.

Luxury brands are raising alarms over Trump’s tariffs, but the real crisis may lie in Xi’s policies. Rather than harnessing the potential of China’s growing middle class through policies that boost domestic consumption, Xi has shifted China backwards. His administration has doubled down on a state-controlled, industrial-led export model, prioritizing manufacturing dominance at the expense of empowering consumers. (https://lnkd.in/g8QpsgnE) Xi has sidelined consumption as a driver of economic growth, turning instead to industrial exports. With consumer confidence at a historic low, luxury brands are struggling to adapt. Once the golden goose of the luxury market, China is moving away from its vision of a consumption-led economy, leaving brands to reevaluate their growth strategies in an increasingly challenging environment. (https://lnkd.in/gAdZP7TD) This shift reflects a broader ideological commitment to state control and skepticism of market mechanisms. By prioritizing centralized, state-driven growth, China’s leadership has undermined the consumer-driven prosperity that once made the country a cornerstone of the luxury market. The implications for the industry are stark: relying on the Chinese consumer as a growth engine is no longer viable under these policies. The way forward for luxury brands requires innovation and diversification. They must find new markets, create models less reliant on Chinese consumption, and adapt to a reality where China's economic policies no longer align with their interests. Ultimately, the larger question remains: will China’s leaders revisit the benefits of market-driven growth, or will their ideological commitment to state control continue to constrain the country’s economic potential—and with it, the opportunities for those who have long depended on China’s rise?

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