MILAN — The world’s 100 largest luxury goods companies generated sales of $216.6 billion in the 2016 fiscal year.

This is what emerged from the fifth edition of “Global Powers of Luxury Goods,” consultancy Deloitte’s annual study focusing on the top 100 global players in fashion and luxury.

At constant currency, the growth rate of said companies was 1 percent, 5.8 percentage points lower than the currency-adjusted growth achieved in the previous year. According to the study, in 2016 the average sales per company were $2.2 billion.

The world’s top 10 names in 2016, which contributed to 47 percent of total sales, were the same as in the previous three years, although six companies swapped places within this group.

Stable at the top of the ranking, the LVMH Moët Hennessy Louis Vuitton conglomerate posted sales of $23.4 billion, more than double those of the second-place Estée Lauder Cos. Inc. Both reported a 5 percent growth in revenues compared to the previous year.

Registering sales of $11.8 billion, Estée Lauder replaced Compagnie Financière Richemont SA’s spot in the ranking, as the Swiss luxury company dropped to third place, with revenues down 3.9 percent to $11.6 billion in 2016. Despite this, Richemont’s 11.4 percent net profit margin was still the 11th highest in the top 100 list, in general.

Luxottica Group and Kering were stable in fourth and fifth position, respectively, posting sales of $10 billion and $9.4 billion. In particular, the former’s eyewear business increased 2.8 percent in 2016, while Kering had the strongest growth in the top 10, up 7.7 percent, driven largely by Gucci.

L’Oréal Luxe overtook The Swatch Group Ltd.’s sixth position, registering an estimated $8.4 billion in sales. The Swatch Group reported the biggest fall in sales in the chart, down 10.7 percent to levels last seen in 2011, followed by Ralph Lauren Corp., whose sales decreased 10.2 percent. Declining profitability, with net profit margin down 1.5 percent, made Ralph Lauren the worst-performing company in the top 10 ranking.

Completing the list, PVH Corp.’s sales grew 5.6 percent to $6.6 billion, overtaking Hong Kong-based jeweler Chow Tai Fook, which dropped to 10th place, reporting a 9.4 percent decrease in sales.

Geographically, Italy is the leading luxury goods country, with 24 companies listed in the top 100 — with Prada Group, Giorgio Armani SpA, OTB SpA and Salvatore Ferragamo SpA among the names included along with Luxottica Group — followed by the U.S., which counted 13 players; the U.K. with 10 names, and France and Switzerland with nine firms each. Nevertheless, in terms of size, Italian companies registered average sales of $1.4 billion compared to the French, American and Swiss firms, which totaled average sales of $5.4 billion, $3.4 billion and $3.1 billion, respectively.

In particular, Italy’s presence is strong in the top 20 fastest-growing companies list, accounting for six out of the 20 players mentioned. Valentino SpA and Furla SpA are the Italian companies registering the highest compound annual growth rate of sales in the period spanning from 2014 to 2016, with 26.9 and 25.8 percent, respectively. In general, the list is topped by Canada Goose Holdings Inc., followed by Pandora A/S, which registered two-year compound annual growth rates of 36 and 30.3 percent, respectively.

In terms of product categories, the study shows sales of clothing and footwear were quite stable, increasing just 0.2 percent, while bags and accessories were up 3.4 percent. In 2016, sales of cosmetics and fragrances climbed 7.6 percent, while watches and jewelry suffered, decreasing 4 percent.

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