Mercado de bens de luxo

Luxury Goods Worldwide Market Study
Spring 2011 Update Milan, 3rd May 2011

This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent

2010: A new peak for luxury goods consumption
CAGR: 5,5%
BOOM (DEMOCRATIZATION) CONSOLIDATION EXPANSION CRISIS REBOUND

CAGR 04-07 8% CAGR 00 00-04 1,4% CAGR 95-00 11% 11% 10% 4% 12% 18% 4% 0% -3% 5% 8% 8% 6% -2% CAGR 07-09 -5%

+12% -8%

Note: 2010 data continues be estimated (E) in this report as some privately privately-held companies do not finalize and report 2010 data until June or July 2011.
2

2010 Holiday Season fared better than expected
Worldwide Luxury Goods Market by Quarter
€6B €172B €5B €6B €153B €2B

Holiday Season

• Traffic reach its highest level of 2010 • Consumers regaining confidence and showing a more positive attitude • Strongest performance of top-end luxury categories

+12%

• Internet sales increasing shares over traditional channels

-8%

• Strong results for US department stores: double digit growth at

2009 Q1 QoQ growth

Q2

Q3

Q4 2010E

comparable store level

6% 16% 13% 14%
3

Strong growth across the board except Japan, with Mainland China the rising star
YoY ‘10E vs ‘09 Worldwide Luxury Goods Market by Area
+12% +12%

YoY ‘10E vs ’09 @ K exch. rates
+8% +8% +19%

Rest of World Asia-Pacific Japan

+23% of which Mainland China+30%

±0%

-10%

+16%

Americas

+10%

Europe

+9%

+7%

4

US an undisputed leader; Greater China closing the gap with respect to Japan
Market Ranking by Country (2010E, B€ €)

Note: Greater China is made up by China, Hong Kong, Macau and Taiwan
5

Re-stocking drives hard luxury growth; stocking accessories still growing fast
Worldwide Luxury Goods Market by Category YoY ‘10E vs ‘09
+12% -1%

Art de la table Hard Luxury Perfume and Cosmetics Accessories

+21%