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Home > The influence of Japan earthquake and tsunami for luxury

Japan As the world's biggest luxury market because of earthquake and tsunami will faltered.
Since last week,the Louis vuitton (LVMH) who have 57 stores in Japan had to stop it's 23 stores the business, in addition,Prada,, Gucci and other luxury brands also have different degrees of the closure. The luxury business sales in Japan in total sales of group mostly around 20 percent, or even higher.
 According to the media news, world brand of top class gem  chairman and chief executive Michael KeWaEr Kowalski, base expected in 2011, the group first quarter sales in Japan will decline by 15%. The company's latest earnings disclosures, tiffany sales growth in the fourth quarter of last year 12% to 1.1 billion U.S. dollars, while Japan market share of 8%. But the Japanese earthquake and tsunami, tiffany shops in northeast Japan and kanto were forced to suspend business or shorten time, some stores even damaged, while these store sales accounted for more than half of Japan's sales.Believe Japan quake impact is not short-term on the European luxury business.
 The world luxury association China's chief operating officer OuYangKun when interviewed analysis says: "Japan is the world's largest luxury market, including  Hermes, LVMH, the luxury business in Japan's share of these luxury is very high, The earthquake and local consumer spending decline will affects many of these luxury group and its marketing storefront, these effects will last for at least one to two years."