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Last month, prices for imported fuels and lubricants jumped 3.3 percent after rising 0.7 percent in September. Food prices surged 2.2 percent in October after rising 2.0 percent in the prior month. Excluding fuels and food, import prices fell 0.1 percent last month after declining by the same margin in September. The so-called core import prices advanced 0.7 percent in the 12 months through October letter l cufflinks uk sale. The monthly drop in core import prices likely reflects the strong dollar, which has gained about 8.1 percent this year against the currencies of the United States’ main trade partners..
PARIS (Reuters) – Luxury brands will increasingly have to court Chinese shoppers on their home turf, as local purchases soar among a clientele who are forecast to generate nearly half the industry’s sales by 2025, a study showed on Thursday. Global sales of personal luxury goods like handbags and watches are on course to grow 6 percent at constant currencies this year, on par with 2017, according to consultancy Bain and Italian manufacturers association Altagamma’s report, which valued the market at 260 billion euros ($294 billion) in 2018 letter l cufflinks uk sale.
That pace will slow in the medium term to 3 to 5 percent per year, they forecast, with potential “bumps” along the way like the risk of a U.S. recession or an easing pace of China’s economic growth. But leaving aside worries about a Sino-U.S. trade war’s impact on high-end labels, Chinese consumers will continue to grow in stature for the luxury industry letter l cufflinks uk sale. Accounting for 33 percent of purchases now, they will anchor 46 percent of the market by 2025, the report said. Half of those sales are forecast to take place within China by then, up from a quarter today, against the backdrop of a global industry landscape that for the most part remains benign..
“The market fundamentals are very sound,” Federica Levato, a partner at Bain, said letter l cufflinks uk sale. “There could be some slight slowdown in the near future, in the next 12 to 18 months, (but) we don’t think this will distract brands from a very solid market.”. China’s luxury shoppers are already propelling sales bounces at brands from France’s Louis Vuitton and Christian Dior, owned by LVMH (LVMH.PA), to Italian puffer jacker maker Moncler (MONC.MI). At one of the fastest-growing labels, Italy’s Gucci, some 45 percent of Chinese clients’ purchases already take place domestically, executives at parent Kering (PRTP.PA) detailed in October..
Narrowing price differentials compared with other regions for goods like handbags, import tax cuts by Beijing and spikes in the euro against the yuan have all helped to repatriate spending letter l cufflinks uk sale. Luxury items cost 70 or 80 percent more in China than in Europe as recently as 2015, Levato said, with the average premium closer to 25 or 30 percent now. Habits are evolving rapidly as a result, with Chinese tourists no longer visiting fashion capitals like Paris just to pick up bargains. “They are now traveling for the experience. Of course they will also buy luxury goods, but it’s not the first driver of traveling,” Levato said..