Italy'S Luxury Brand Gucci Takes Over The Largest Store In Southern China, Montblanc.

As global economic growth slows down, China's economic environment changes and consumption habits change.

industry

It is also constantly adjusting. After MontBlanc's biggest store in Southern China was completely shut down, the Internet got the latest news. It took Italy's luxury brand Gucci, which is rising in the domestic market, to take over the store.

In the original MontBlanc Guangzhou Tai Koo Hui flagship store, we can see that the wall has already covered the latest advertising of Gucci and marked the hint of Coming Soon, which is the largest store in South market in China, with an area of 557 square meters, with two floors up and down.

After taking over, Gucci will become the four largest luxury brand store with LV, Hermes and Prada.

Gucci, a market leader in China, confirmed the news on the Internet, but has not yet disclosed the specific opening time.

According to Kai Yun group's first quarter earnings report, Gucci revenue grew 3.1% year-on-year, direct store sales grew 3%, retail and wholesale business grew.

Revenue growth has slowed compared with 4.8% in the fourth quarter of fiscal year 2015, but this is the first time that Gucci has achieved comparable growth for two consecutive quarters in three years.

Leather goods with rival LVMH group

Business growth, Dior group zero growth, Burberry group fell 5% in the first quarter results, Gucci rebound momentum is obvious.

As for MontBlanc, it has temporarily moved to a temporary counter about more than 30 square meters in the east gate of Taigu Hui. The size of the shop has been greatly reduced. In fact, MontBlanc, which is mainly "gift giving" based on pens, watches and watches, has been suffering from the domestic macro-economic slowdown and the government's continuing impact on combating corruption. But the brand seems to have not made timely changes to adapt to the market.

Although MontBlanc's performance has improved in recent years, it has been difficult in Southern China.

In September 20, 2011, the MontBlanc store opened in Tai Koo Hui. Its opening guests were international giants Nicholas and Tang Wei. At that time, the limelight was not two. At that time, no one would have thought that less than 6 years later, the staff of this store would be reduced from 30 to 8.

In May 2015, media reports reported that MontBlanc might withdraw from Guangzhou's Tai Koo Hui, which is the first time that luxury brands have withdrawn from Tai Koo Hui.

Earlier, Tai Koo Hui made adjustments to the two tier and one tier brand. According to the analysis of the industry, MontBlanc's withdrawal from the flagship store means that Taigu Hui is reexamining the performance of luxury brands in the domestic market, especially in the Southern China market. Under the current market environment where luxury consumption is not good, people who are unable to bring flow or poor performance may be eliminated.

In addition, as the MontBlanc brand parent company, the peak group is facing the upheaval problem caused by the excessive undervaluation of the market environment, especially when China's regional challenges and the booming Hongkong watch market are in trouble.

At present, MontBlanc accounts for 6% of the total sales of the group.