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Luxury Goods Makers In Italy Say The European Debt Crisis Will Not Stop Growth This Year.

2012/1/17 11:46:00 13

Growth Of Luxury Goods Manufacturers In Italy

On the evening of January 16th, Italy luxury goods manufacturers such as Zegna (Ermenegildo Zegna SpA) and Caruso (Raffaele Caruso) (YRC) said that although the euro zone sovereign debt crisis caused demand damage and the growth rate of Asian economies slowed down, these companies were optimistic about the outlook for 2012.

Zegna CEO Gildo Zegna predicts that in 2012, the company's revenue growth will be at the top end of the 1% to 9% range, mainly due to the growth of customer demand from outside Europe. In 2011, the company's sales and profits reached an all-time high.

Caruso, chief executive of Umberto Angeloni, also expects to see the company from this year's existing orders.

Sales volume

It will rise by 20%.

"Asia will grow," Zegna said in an interview in January 14th.

Thruster "

Then it will be the United States. "

He also pointed out that before EU leaders found solutions to stop the euro zone sovereign debt crisis, "we had to prepare for a bumpy advance."

Investment company CA Cheuvreux analyst Thomas - Mai Siming (Thomas Mesmin) forecast, 2012

Luxury goods

The sector's growth rate will be 10%, equivalent to half of last year's growth rate.

He pointed out that, excluding Japan, sales growth in Asia will be 20%, while the growth rate in the US region will be 6%, Europe 5% and Japan 2.5%.

"The current sales growth rate is definitely not sustainable," he said in his earnings report last month.

Gianluca Brozzetti, chief executive of Roberto Cavalli SpA, another fashion Brand Company in Italy, said that the economic turmoil in the euro zone was the reason for the "big alarm" in Robert Gianluca.

Standard and poor's decided last week to lower the sovereign credit rating of 9 countries in the 17 member states of the euro zone, including Italy.

Zegna said that although the net wealth of European consumers is higher, the S & P move will damage the domestic demand of luxury goods in the European market.

Michele Norsa, chief executive of Salvatore Ferragamo S.p.A (SFER), a luxury goods group, said that during the pition period, the decline in the euro exchange rate would enhance the sales value of euro zone countries. Kailai said

He said the company achieved "excellent" performance in mid 2011, including holiday sales better than expected.

Norsa further indicated that he felt "confident" in the coming year.