LV, A Luxury Goods Giant, Is Facing Closure In Parts Of China'S Second Tier Cities.

Citing the Jean-Jacques Guiony, chief financial officer of LVMH group, if there are two shops in the second tier cities of China, one of them will be closed.

According to the report, Guiony expects that the impact of China's stock market decline will continue for several months.

The Chinese like to buy LVMH's products in Japan. He believes this trend is not yet over.

Zhou Ting said this is new.

There is a shop opening plan, but for the large luxury brands that have entered China for more than ten years, LVMH has a series of strategies since last year: first, it does not open new stores; the two is to close stores (that is, to turn off some shops with poor performance or to have a heavy cost of operation); three is to merge stores while closing stores.

"Of course, the above strategies will not be limited to

Many luxury brands should be like this.

After all, LVMH is still a brand of wind vane, and its practice will have a strong demonstration effect on other brands in the market.

Taking GUCCI as an example, Zhou Ting said that GUCCI would not open shop stores in the past. It would choose some special stores or special areas to open some shops, such as opening a coffee shop or a restaurant. The functions of these stores will pay more attention to the customer service experience and make the basic flow entry for their online businesses.

Zhou Ting told reporters before the industry has been talking about the price difference between luxury goods at home and abroad, "the Institute of wealth quality has just made an analysis, showing that the difference between domestic and foreign markets has been seriously reduced, the difference between domestic and international watches is about 33%, the difference between domestic and foreign prices is 28%, the difference between luggage and domestic products is 27%, the difference between domestic and international perfume is about 26%, and the difference between jewelry at home and abroad is 25%."

Zhou Ting said that the main reason for causing or promoting brand price adjustment and causing the spread at home and abroad is mainly exchange rate.

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News of China's customs store, reporters tried to contact LV Chinese public relations today, the phone was not connected.

Many industry insiders believe that the luxury market will be more depressed due to the high price of luxury goods brought by domestic high tariffs and the influence of anti-corruption activities at the policy level.

But Zhou Ting, a luxury goods expert and President of the Institute of wealth and quality, does not think so. She told reporters that the reason why luxury brands adjust their market strategy still comes from the market itself. The luxury brands are facing tremendous pressure, one is the pressure brought by the upgrading of consumption, and the two is the competitive pressure brought by the brand multi polarization.