Luxury Brand Management in Digital and Sustainable Times. Michel Chevalier

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СКАЧАТЬ LVMH annual reports. Of course, this geographical split varies across divisions and brands.

France	9%
Rest of Europe	19%
America	24%
Japan	7%
Rest of Asia	30%
Other markets	11%
Total	100%

Kering. This group was created in 1999 by the purchase by PPR of a minority interest in Gucci and the immediate purchase of the YSL fashion and YSL beauty group. Since then, the group has purchased many other brands, including Bottega Veneta, Boucheron, and Balenciaga, and is one of the few groups that has grown by purchasing existing brands and by developing its own from scratch. This latter category includes, for example, Alexander McQueen.

The company name was changed to Kering in 2013. Table 2.10 summarizes the existing sales and operating profit data.

Gucci and Saint Laurent have outstanding performances for the past five years. The case of Bottega Veneta is quite interesting: it was at the same sales level as Saint Laurent in 2005 but grew extremely fast until 2013 when Saint Laurent was doing very poorly. Then Saint Laurent woke up and did extremely well, and Bottega Veneta was stuck with decreasing volume and profitability. It may have woken up now, but we still have to wait to find out.

Table 2.10 Kering Historical Sales and Results (€ million)

      Source: PPR annual reports.

		Sales	Operating Profit
	2019	2015	2010	2005	2019	2009	2008
Gucci	9,628	3,898	2,266	1,807	3926	618	625
Saint Laurent	2,049	974	237	162	552	–10	0
Bottega Veneta	1,168	1,286	402	160	207	92	101
All others Unallocated	2,537	1,707	484	907	306 (213)	–75	5
Total	15,383	7,865	3,389	3,036	4,778	625	731

Richemont. The Compagnie Financière Richemont, based in Geneva, with sales of €13.9 billion was, for many years, the second major operator in the luxury fashion, jewelry, and watch businesses. But probably because of difficulties in the sales of watches, and little involvement in the fashion business, it has developed slower than its competitors in the past 5 years (see Table 2.11). In 2019, it integrated and consolidated the two online distribution systems: NAP (Net à Porter.com) and Y (now called YNAP).

The company's results by product lines are given in Table 2.12.

Table 2.11 Richemont Historical Sales and Profit (€ million)

      Source: Richemont annual reports.

	Sales	Operating Profit	Net Profit
2019 2018 2017 2015 2013	13,989 10,979 10,647 10,410 10,150	1,943 1,844 1,764 1,339 2,426	2,787 1,221 1,210 2,387 2,005

Table 2.12 Richemont Performance by Product Lines, 2005–2019 (€ million)

      Source: Richemont annual reports.

СКАЧАТЬ

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	Sales	Operating Profit
	2019	2015	2010	2005	2019
Jewelry houses	7,083	5,168	2,688	844	2,229
Specialty watches	2,980	3,325	1,437	1,750	378
Online distribution	2,105		N.A.		(100)
Writing instruments			551	297
Leather and accessories			584	780