Middle class customers were the driving force in the post-pandemic luxury boom due to savings accumulated during the lock-down period. As they trickle away and inflation limits discretionary spending it's difficult to keep these high levels in Europe and the US while in China property, ones considered the ticket to wealth is now draining fortunes and spending power. With this trend, luxury groups are about to publish results for the Q2 of 2024 in what looks like a phase of normalization in the market, by now analyzes Luca Solca from Bernstein for Class CNBC.
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"Luxury’s Soft Patch Will Be Short" , comments Luca Solca, head of luxury goods research at AB Bernstein in an interview with Milano Finanza. 🎯 The current luxury slowdown is primarily a macroeconomic issue, affected in particularly by structural difficulties in China. Still, fundamentals of the luxury industry are (largely) intact. 🎯 Strong focus on super rich and price hikes to match haven't changed in the last years. 🎯 Consumer demand is cooling down as shows recent revenue growth performance across all consumer sectors, both discretionary and staples with luxury no exception. Western demand is moderating, and this is only partially offset by a rebound of Chinese luxury demand out of “zero-Covid,” given low consumer confidence triggered by a falling real estate market. And as usual, the slowdown is starting from the bottom of the social pyramid, with high-end consumers still in spending mode. 🎯 With the US Federal Reserve cutting interest rates by 50 basis points Solca forecasts a luxury’s soft patch that will be short: 2025 will bring improving demand and mid-single digit sales growth in a base-case scenario. https://lnkd.in/dY9HGR4e
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Market Manager | China | @Miinto | Chinese speaker | Fashion marketplace expert | Luxury | Ecommerce | Sales | Partner experience Manager
China is no longer the luxury industry's cash machine. Economic challenges and shifting consumer preferences demand a new approach, focusing on deeper connections rather than status-symbol purchases. Chinese consumers now prioritize self-fulfillment and authenticity, pushing brands to offer enriching and personalized experiences, rather than just products, in order to succeed in this evolving market. #change #chinamarket #rewritethestrategy
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The rising purchasing power of high-net-worth individuals (HNWIs) in India is prompting luxury car brands to expand their presence, especially in Tier-II and Tier-III cities. In an article by Anjali Singh in Business Standard, Anurag Singh, Managing Director of Primus Partners, discussed the growth of the luxury car market, emphasising the increasing population of high-net-worth individuals (HNWIs), the rise of young millionaires, and corporate tax benefits as key factors boosting demand. Read the full story: https://lnkd.in/gBgkZmTH #LuxuryCarMarket #MarketGrowth #HNWI #PrimusPartnersIndia
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Some great insights from CBRE Italy. It is crucial for the real estate sector to embrace ESG criteria as demand for sustainable investment rises. This collaboration between our CBRE valuers and ESG teams in this case is a superb example of how we can assess the ESG impact on value. Looking forward to reading more case studies like this! #CBREVAS #ESG #Sustainability #CBRE
Con la crescita della domanda di investimenti sostenibili, il settore Real Estate deve affrontare la sfida di integrare la #sostenibilità e i criteri #ESG nelle valutazioni immobiliari. Per comprendere meglio come i fattori ESG possono trasformare le valutazioni immobiliari, abbiamo esplorato un recente caso studio su un immobile di Milano che ha visto la collaborazione dei team Valuation & Advisory Services e ESG & Sustainability Solutions di CBRE Italy. Che tu sia un proprietario, un investitore o un inquilino, questo esempio pratico offre insight preziosi per permetterti di orientarti in questo contesto in continua evoluzione. Guarda il video e scopri di più sul nostro sito 👉 https://cbre.co/4fuqHal #ESG #Valuations #Sostenibilità
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🚀 With a potential growth of 25% annually for the next decade, the Indian luxury market is becoming an essential focus for luxury brands: today the majority of these purchases are made outside #India. Lyra is leading the way in Europe by integrating UPI, a QR Code based payment system adopted by more than 300 Million Indians. This initiative not only simplifies transactions for Indian customers but also enhances the international shopping experience. 🔍 Adoping #UPI can be a strategic step towards enhanced customer engagement and increased brand visibility for the Indian clientele 🇮🇳 National Payments Corporation Of India (NPCI) x Lyra #payment #international #India #France #luxury
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Looking to the future of real estate support services from the perspective of the ongoing evolution of a industry that has experienced rapid growth in Europe. Gabriele Cerminara will speak at the first Forum Nazionale sull'Industria dei Servizi Immobiliari, organized by Scenari Immobiliari. Several themes will drive the evolution of #realestate business activities: from personal services to the application of artificial intelligence. The conference will be held on Wednesday, Nov. 13th, at the Assolombarda Congress Center, Milan. https://lnkd.in/d2zYy9V4
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Thoughts on this? >> Rs 100 Crore Of Solitude: Exclusivity Is New Luxury For Mumbai's Elite Homebuyers >> Comment below! >>> lqventures.com #AI #healthtech #industry40 #mhealth #IoT
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Real Estate Valuers are asked more and more often to comment on ESG trends and how they impact the value of the properties. As the market evolves, it is important for us to reflect the market, even when evidences are scarce. An integrated approach between us and our colleagues from the ESG and sustainability team creates great opportunities to provide more insighful advice to our Clients, and remain on top of the market. Thanks to Cristiana Fragola, Becky Gaughan FRICS and Elena Gramaglia for this great example of collaboration between teams. #CBREVAS #ESG #Valuations #Sustainability
Con la crescita della domanda di investimenti sostenibili, il settore Real Estate deve affrontare la sfida di integrare la #sostenibilità e i criteri #ESG nelle valutazioni immobiliari. Per comprendere meglio come i fattori ESG possono trasformare le valutazioni immobiliari, abbiamo esplorato un recente caso studio su un immobile di Milano che ha visto la collaborazione dei team Valuation & Advisory Services e ESG & Sustainability Solutions di CBRE Italy. Che tu sia un proprietario, un investitore o un inquilino, questo esempio pratico offre insight preziosi per permetterti di orientarti in questo contesto in continua evoluzione. Guarda il video e scopri di più sul nostro sito 👉 https://cbre.co/4fuqHal #ESG #Valuations #Sostenibilità
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#Value & #Suastainability: the result is… enhanced asset valuation through the integration of ESG criteria, which promotes better decision-making and sustainability practices by merging competencies. The collaboration between CBRE Valuers ad ESG Team shows an example of a combined assessment of ESG impact on value. Stay tuned .... looking for more&more case study like this!
Con la crescita della domanda di investimenti sostenibili, il settore Real Estate deve affrontare la sfida di integrare la #sostenibilità e i criteri #ESG nelle valutazioni immobiliari. Per comprendere meglio come i fattori ESG possono trasformare le valutazioni immobiliari, abbiamo esplorato un recente caso studio su un immobile di Milano che ha visto la collaborazione dei team Valuation & Advisory Services e ESG & Sustainability Solutions di CBRE Italy. Che tu sia un proprietario, un investitore o un inquilino, questo esempio pratico offre insight preziosi per permetterti di orientarti in questo contesto in continua evoluzione. Guarda il video e scopri di più sul nostro sito 👉 https://cbre.co/4fuqHal #ESG #Valuations #Sostenibilità
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Senior Advisor at Nomisma | Senior Advisor at Revalo |Independent Board Member and ESG Coordinator at Central Sicaf | Chartered Accountant ODCEC Milano | Member of R.I.C.S. | EFPA ESG Advisor
Osservatorio Nomisma - Ricerca e consulenza per il business 3° Rapporto sul Mercato Immobiliare 2024 Dear All, I hope to see many of you on December 5th in Milan at the new Nomisma event, hosted by Intesa Sanpaolo Private Banking in the beautiful Fondazione Cariplo conference center, to share interpretations of the macroeconomic scenarios, trends and updated perspectives of the Italian real estate market. In addition to Nomisma - Ricerca e consulenza per il business's proprietary data, we will propose an interesting and very current focus on the theme of "Property Value", which the European Basel IV regulation introduces starting from next 1/1/25 for all real estate financing. Last but not least, an unmissable round table that I will have the pleasure of moderating, to which we have invited primary players to describe, from a "prop-co" and "op.co" perspective, the peculiarities of some of the most dynamic market segments, such as the #living, #healthcare and #hotel sectors. Cristiana Fiorini, Lucio Poma, Luca Dondi dall'Orologio, Elena Molignoni, David Scala, Elena Compagno, Johnny Marzialetti, Federica Selleri, Raffaella Pinto, Claudio Aruta, Michele Diamantini, Giovanni Maria Mancini, Gabriella Pelosi, Nadia Rampinini, Giampiero Schiavo
