Global economies aren’t exactly out from under the cloud of recession just yet, but there are signs of financial health sprouting up like the first crocuses of spring.
This story first appeared in the April 15, 2013 issue of WWD. Subscribe Today.
International forecasts for the luxury sector are generally positive, despite some jitters among consumers, especially in Europe, with concerns about consumption slowdowns in China as the government cracks down on high-ticket bribery and corruption. Here, a few prognostications for luxury segments, a look at some recent stats and a few figures for cocktail party conversation.
Forecast for worldwide luxury sales by category, 2013 vs. 2012:
Apparel sales: Up 6 percent.
Jewelry, watches, pens and lighters sales: Up 8 percent.
Leather, shoes and accessories sales: Up 10 percent.
Fragrances and cosmetics sales: Up 4 percent.
Fine tableware sales: Up 2 percent.
2013 Growth forecast, by worldwide market:
Europe: Up 4.5 percent.
U.S.: Up 6 percent.
Latin America: Up 10 percent.
Japan: Up 2 percent.
Asia: Up 17 percent.
Middle East: Up 9 percent.
Rest of the World: Up 9 percent.
200 percent: Increase in high-net-worth individuals (with more than $1 million in onshore assets) in India, from 46,000 in 2006 to 132,000 in 2013.
Value of Luxury Markets in:
U.S.: $75 billion
Japan: $25 billion
China: $20 billion
Hong Kong: $10 billion
Brazil: $4 billion
564 million: Number of people in China who used the Internet last year.
242 million: Number of people in China who shopped online last year.
$210 billion: Estimated e-commerce revenues in China in 2012.
$71 billion: Retail value of rough diamonds worth $15 billion.
$51.9 billion: Turnover of the Antwerp diamond industry in 2012.
74 million: Euros spent annually on jewelry and watches by U.S. shoppers overseas.
2013 Italian exports forecast: 44.32 billion euros or $56.7 billion, up 2.2 percent from 2012.
2013 Italian imports forecast: 27.65 billion euros, or $35.3 billion, up 4.9 percent from 2012.
90: Percentage of affluent women in India, the third-largest global diamond market, owning a diamond.
42: Percentage increase in 2012 spending for fine watches and jewelry by non-EU citizens in Paris from 2011 (22 percent for London and 55 percent for Milan).
88 million: The number of outbound trips high-end Chinese shoppers will make this year.
155 million: The number of annual outbound trips high-end Chinese shoppers will make by 2020.
$100 million: Price for Graff’s peacock brooch, measuring 4 inches in height, made from a total of 120.81 carats of diamonds with a 20.02-carat deep-blue pear-shaped diamond in the middle.
3,550: Hours of work to make the Phénix necklace by Van Cleef & Arpels.
320: Hours of granulation to make the dial of one Cartier Etruscan Panther watch employing the ancient Etruscan technique.
$108.74 billion: The value of China’s department store retail market.