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Analysts upbeat about high-end luxury retail sector despiteslowdown by 123wert sdfsf
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Analysts upbeat about high-end luxury retail sector despiteslowdown |
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Business,Business News,Business Opportunities
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Despite the expected slowdown in the global economy,some analysts are upbeat about the high-end luxury retail sector. In its latest report "Dipped in Gold 2012", brokerage CLSA isputting its money on the sector, with an overweight call on nineluxury brands. These include the Hong Kong-listed Italian fashionhouse Prada and Hong Kong-based jeweller Chow Tai Fook. CLSA's 12-month target prices for the brands give them an averageupside of 32 per cent - outstripping the eight per cent for themore run-of the-mill consumer Asian stocks in its portfolio.
According to the brokerage, a growing appetite for the finer thingsin life from emerging market consumers will help rake in the bigbucks. Aaron Fischer, Head of Asia (Consumer & Gaming Research) at CLSA,said: "If there's any major economic shocks, I think anywhere inthe world, I think it would have significant impact on demand. Sowe always have to monitor the situation in Europe quite closely.Because Europe is still a relatively big market for luxury goods. "So we follow what's happening in Spain, Italy and France, etc.
Butour expectations in those markets are quite low - we are alreadyexpecting low single-digit growth. So if there's a bit of apull-back, that wouldn't be ideal. But as I mentioned earlier, withemerging market demand is such a big part of the equation, theswing factor for those countries is a lot smaller these days." Consumers from emerging markets are expected to account for up toas much as some 75 per cent of the global luxury goods market by2020. According to CLSA, mainland Chinese consumers are the singlebiggest group of tax-free shoppers in the world, and it does notexpect China's economic slowdown to greatly impact spending onluxury goods.
Mariana Kou, Consumer & Gaming Research Associate at CLSA, said:"We're thinking that the wealthy individuals, they're not going tochange their lifestyle really, even if there's a slight slowdown inthe short-term in China. Basically, we are showing data thatthey're still maintaining their budget luxury spending of 23 to 25per cent in the past few years." According to CLSA estimates, global luxury goods sales this yearwill grow by 10 per cent - that is compared with the high base of14 per cent in 2011. -CNA/ac. I am a professional writer from Computer Hardware & Software, which contains a great deal of information about computer monitor widescreen , planar lcd monitors, welcome to visit!
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