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2.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 1 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. This volume
contains copies of slides presented by Antonio Achille, Partner and Managing Director of the BCG Milan office, and Armando Branchini, Deputy Chairman of Fondazione Altagamma, during the "Consumer and Retail Insight" event held in Milan on January 22nd 2015. The presentation is based on a research that BCG developed during the month of November 2014, interviewing 10'000 Top Luxury consumers from 10 countries (Italy, France, UK, Germany, US, Japan, China, Brazil, South Korea and Russia). During the presentation, the slides served as the focus for discussion; they are incomplete without the accompanying oral commentary This document will be most meaningful, therefore, to those who attended the meeting Disclaimer
3.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 2 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. True-Luxury Global
Consumer Insight: 6 "W" questions addressed today Why now? What makes our study unique? What will it take to capture growth in key categories? Where will growth come from? Which segments will drive growth? What are the consumer trends shaping the industry?
4.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 3 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Why now?
5.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 4 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. 60% Organic growth:
2 / 3 of next decade growth 1. Europe (Italy, France, UK, Germany, Spain, Nordics), US and Japan; 2. Referrers to personal luxury (apparel, accessories, hard luxury, Perfume & Cosmetics) Note: Last decade Personal Luxury market CAGR growth ~5%; upcoming decade Personal Luxury market CAGR growth ~4% Source: Bernstein / BCG analysis Last decade growth by component2 Upcoming decade growth by component2 Total growth 100% Volume 20% 20% Emerging markets 35% Traditional Markets1 25% Price - Mix 40% Organic growth (LFL) Retail expansion 100% Total growth Volume 30% Price - Mix 40% Emerging markets 10% Traditional markets1 20% Organic growth (LFL) 70% Retail expansion . 30%
6.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 5 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. The CONSUMER
era '80s '90s '00s 2015 next decade • Style & Design for elites • Temple of Desire • The rise of Global Brands • Retail as part of Brand experience • "Real estate rush" • Consumer: engine of top line and margin growth +ConsumerDesign +Brand +Retail
7.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 6 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. What makes
our study unique?
8.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 7 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. 2015 Edition:
What's new? 10.000+Top Luxury Consumers analyzed 10 luxury markets deep dived All luxury categories in scope Doubled sample yearly average spending: 10K€ 20K€ • 2K€ 5K€ yearly spend as entry point • 3.000+ luxury consumers spending yearly on avg. 44K€ in P&E luxury Consumer Segments as key lens to read market dynamics Category breakdowns
9.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 8 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. All luxury
categories in scope 5472 154 350 354 62 4941121 61 67 1,385 0 500 1,000 1,500 Hotel & Exclusive vacations Food & Wine Furnit- ures Perfumes & Cosmetics Watches & Jewelry ApparelAcces- sories Arts Other2Techno- logy Cars & Yachts Total Personal luxury (290 €B) Experiential luxury (465 €B) Cars & Yachts (350€B) Luxury market (€B,2014 retail value) 1.Personal and Experiential luxury 2. Including Private Jets, Art de la table, etc Note: Some numbers are rounded. Source: BCG 2014 specific survey, BCG-IPSOS market research Covered by True-Luxury Global Consumer Insight P&E 1 Market: 755 €B Others (280 €B)
10.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 9 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Sounding board
of WW leading Brands to ensure robustness and actionability of the insight 2015 additions
11.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 10 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Where will
growth come from?
12.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 11 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Short term:
Luxury Barometer® indicates rebound of confidence in 2015 vs. 2014 24% 29% 24% 43% 48% 39% 33% 23% 37% Less (-20%) Same More (+20%) 201520142013 1. Index calculated as percentage of customers who see growth in spend less the percentage who foresee a decrease in spend (Positive – Negative) . The index represents a proxy of the expected growth of spend in Luxury by Top Luxury consumers Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) % of respondents Luxury Barometer®1 9pp 13pp-5pp "Do you expect to spend more or less on luxury products in the next 12 months?" Short term
13.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 12 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. 390M consumers
to become 465M by 2021 with P&E market growing from 755 to 1015 Bn€ Cluster Total Luxury Consumers1 2014 # (M) Bn(€)1 2021 Top Aspirational # (M) Bn(€)1 73 122 135 ~1015 609 330 76 ~755 481 54 42 84 94 220 2 5 11 ~465 422 25 18 ~390 356 19 2 4 9 15 220 Ultra Beyond money Very high 1. Including Experiential and Personal luxury, excluding cars and Yachts Note: rounded numbers Source: BCG Analysis Total Top Luxury Aspirational 2 k€ 5 k€ 10 k€ 20 k€ Mid term
14.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 13 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. US consumers
confirmed as the main contributor to future growth 33049 6720 29 220 0 150 300 450 2021Others3Middle Eastern European2ChineseAmericans2014 +110€B P&E1 Luxury market growth by Nationality (€Bn) ~55% 1. Personal & Experiential Luxury market; 2. Italian, French, German, English 3. Including Japanese, S. Korean, Russian, Brazilian and RoW Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) Top Luxury Mid term
15.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 14 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. What are
the consumer trends shaping the industry?
16.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 15 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Global trends
confirming their importance Confirmations Changes in Trajectory New Trends Advocacy era continuing: 80% of consumers willing to become brand ambassador "Made in Italy" still rules: 1st preferred manufacturing country – Leadership in all categories but cars (1st Germany) and watches (1st Switzerland) 53% of Luxury consumers spend made out of the home country – Drivers: convenience key for Emerging Markets; part of the journey experience for Mature Markets Exclusivity key for long term creation and not granted: 25% of luxury brands at risk of loosing exclusivity based on consumer declarations "Made in" still rocks: 80% of consumers actively check where products are "Made-In"
17.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 16 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Changes in
trajectory Confirmations Changes in Trajectory New Trends Intro values still roaring with selective extro values rebound (from 27% to 34%) Word of Mouth becoming 1st influence lever and increasingly digitally enhanced Digital growing importance with online influencing 62% vs. 53% of total luxury purchases Store windows losing relevance vs. online (from 39% to 32%): is store role changing? Brands website preferred e-commerce channel: websites quality and customer care more important than price Omnichannel getting momentum, 75% of consumers asking for it
18.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 17 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Intro values
still roaring Selective rebound of Extro values? 76% 76% 71% 70% 66% 62% 61% 60% 59% 56% 24% 24% 29% 30% 34% 38% 39% 40% 41% 44% • Quality • Exclusivity • Craftsmanship • Timeless Intro values • Adorned aesthetics • Brand visibility • Customization • Being Cool/Sexy Extro values "What is luxury to you?" % of respondents1 1. Respondents were asked to rank the top 3 values: the graph represent the value ranked as the most important Source: BCG 2013 and 2014 ad hoc study (10'000 respondents in 10 countries) 2013 Intro Value Avg. 73% 73% 83% 83% 72% 69% 69% 61% 75% 69% 2014: 66% Values
19.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 18 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Word of
Mouth: 1st influence lever, overcoming magazines % of respondents TV & Movies Seen Wore Celebrities Brand websites 26% 31% 39% 32% 32% 19% 30% 23% Tailored offers Store windows Events Magazines2 WoM 49%29% 20% Seen Worn 13% Celebrities 20% Events 20% Tailored offers 22% TV & Movies 24% Brand websites 34% Store windows 39% WoM1 43%32% 11% Magazines 50% 1 Includes WoM, Social Media and Other Social blogs 2. Editorials and Commercial in Magazines Note: multiple choices possible, out of top 3 ranks Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) "Which of the following has an impact on your purchase decision?" 2013 Different WoM influence across nationalities 34% 23% 10% 41% 22% 19% 46% 30% 17% 47% 33% 14% 49% 25% 24% 52% 30% 21% 52% 26% 26% 53% 35% 18% 55% 22% 33% 58% 41% 17% Avg. 49% Social Media & Blogs Physical 2014 WoM
20.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 19 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Social media
and blogs the real engine of Word of Mouth growth "Which of the following has an impact on your purchase decision?" 32% 29% 5% 6% 12% 8% 2014 49% 2013 43% Blogs Physical Social Media +6pp 1. WoM Digitalization index: calculated as Social Media & Blogs influence vs. WoM physical influence Note: multiple choices possible, out of top 3 ranks Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) Δpp '13-'14 (3pp) +6pp +3pp WoM digitalization index1 0.3 0.7 WoM
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P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 20 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. >50% sales
digital influenced already in past year edition... 53%% of last purchase for each respondent "Where have you bought the last item purchased? Where have you researched it?" 47 100 8 38 0 20 40 60 80 100 TotalPure in Store Pure Online 7 Showrooming (viewed in store, purchased on line) Researched Online Purchased Offline Source: BCG 2013 ad hoc study (10'000 respondents in 10 countries) Omnichannel Digital
22.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 21 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. ...channels are
further blurring: 62% of sales digitally influenced in 2014 % of last purchase for each respondent "Where have you bought the last item purchased? Where have you researched it?" 45 9 8 100 38 0 20 40 60 80 100 TotalPure OnlineShowrooming (viewed in store, purchased on line) Researched Online Purchased Offline Pure in Store Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) Omnichannel 53% 62% Digital
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P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 22 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. "Pure store"
no longer the first channel for sales 62%% of last purchase for each respondent "Where have you bought the last item purchased? Where have you researched it?" 100 0 20 40 60 80 100 TotalShowrooming (viewed in store, purchased on line) 7 8 38 45 8 9 47 38 Pure OnlineResearched Online Purchased Offline Pure in Store Source: BCG 2013 and 2014 ad hoc study (10'000 respondents in 10 countries) 2013 2014Omnichannel Digital
24.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 23 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. 3 out
of 4 consumers asking for omnichannel Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) 37% 38% 25% Not negotiable/ Very Important Somehow important Not Important Total "How important is for you that a brand can be reached through different channels?" 75% Omnichannel importance across nationalities 78% 78%81% 85% 43% 57% 45% 71% 31% 33% 81% 75% 90% 33% 41% 49% 44% 27% 42% 34% 48% 33%38% 36% 11% 43% 49% 41% 26% 37% Avg. 75% % of respondents Digital
25.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 24 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. For online
shoppers brands website 1st option; experience more important than price "Which kind of online store did you buy the product from?" 1.9x Flash sales sites 2% Others kind of websites (travels, restaurant, ...) 8% Luxury-specialized etailers 16% Dept. store website 18% Online marketplace 20% Brand website 37% Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) % of respondent % of respondent "Which factors are more important when buying on line?" Free return Exclusive collections 21% 22% Payments accepted 24% Brand carried 25% Online customer care quality 29% Website navigability 31% 20%Price discount Digital
26.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 25 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. New trends Confirmations
Changes in Trajectory New Trends Are US and UK self legitimating as "Made" in countries for Luxury? Sustainability is happening, 13% importance as value – +5 pp vs. 2013 led by Europeans and Americans Dynamism in fashion hubs: New York City growing, Milan fading – Dubai, Singapore and Los Angels legitimating as fashion hubs?
27.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 26 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Sustainability is
happening: will declared values impact behaviors? 9% 10% Brazil USEurope % over respondents 8% China 18% +5pp 15% RussiaTotal 13% 15% 8% 13% 10% 4% 5% 6% 13% "What is luxury to you?" 20142013 Multiple answer possible Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) Δ 2013-2014 (pp) +13pp - +7pp +4pp +6pp -2pp Sustainability
28.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 27 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Are US
and UK self legitimating as "Made in" countries? Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) +3pp 2014 10% 2013 7% % of respondents selecting US +3pp 2014 7% 2013 4% "Which country of manufacturing do you consider the best for Luxury?" % of respondents selecting UK Who is saying that? Apparel Jewelry Handbags ~25% ~17% ~13% On which categories? Apparel Handbags Jewelry ~22% ~18% ~16% ~33% ~17% ~10% ~25% ~12% ~12% Made in
29.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 28 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Dynamism in
fashion hubs with New York rising and Milan fading 1. The calculations excludes consumers in their home country Source: BCG 2013 and 2014 ad hoc study (10'000 respondents in 10 countries) 2013 20152014 "In which cities have you bought luxury products in the past 12 months? In which ones do you plan to buy in the next 12 months1?" Spend Abroad Paris London Hong-Kong 2 3 4 5 2 4 5 New-York Milan Paris London Hong-Kong New-York Milan Paris London Hong-Kong New-York Milan 5 2 3 4 1 1 1 3
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P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 29 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Among the
group of followers Dubai, Singapore and Los Angels gaining momentum... 2013 20152014 "In which cities have you bought luxury products in the past 12 months? In which ones do you plan to buy in the next 12 months1?" 1. The calculations excludes consumers in their home country Source: BCG 2013 and 2014 ad hoc study (10'000 respondents in 10 countries) 6 7 8 Singapore Rome Los Angeles Dubai MiamiSingapore Rome Los Angeles Dubai Miami Singapore Rome Los Angeles Dubai Miami 6 7 6 7 8 10 9 9 10 8 9 10 Spend Abroad
31.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 30 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Which Segments
will drive growth?
32.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 31 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. 8 Global
segments, 3 of them counting for ~50% Country specific 2.2 2.8 1.6 1.8 2.1 3.0 2.3 2.2 1.5 1.2 9% 11% 6% 7% 8% 11% 9% 8% 6% 5% 30 8 10 10 7 3 9 10 4 4 67 22 17 17 14 8 21 21 6 5 24% 2.5 10% 17 41 15% 2.8 11% 13 35 13% 8% 6% 6% 5% 3% 8% 8% 2% 2% (M) (%) (K€) (Bn€) (%) Segment size Current value Avg. Spend1 Gender specific Global segments (gender / geography balanced) counting for ~50% of lux. market Note: This table represent Luxury Consumer of Beyond Money, Very High, High and a projection proxy of Top Aspirational consumers 1. Not including Cars & Yachts Source: BCG 2014 ad hoc study (10'000 respondents in 10 countries) Absolute Luxurer Experien cer Mega citier Fashioni sta Social Wearer #Little Prince Status Seeker Classpira tional Timeless Proper Omni Gifter Luxe Immune Rich Upstarter
33.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 32 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. What will
it take to capture growth in key categories?
34.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 33 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Product category
insight through the eyes of most relevant consumer segment Absolute Luxurer • 22% of 2014 Leather Goods market • First contributor to long term growth (+3B€) Megacitier Omni Gifter & Timeless Proper #Little Prince Experiencer • 16% of 2014 Apparel market • First contributor to long term growth (+1.2B€) • 15% of 2014 Hard Luxury market • First contributors to long term growth (+2.2B€) • 11% of 2014 P&C Luxury Market • Fast growing segment (CAGR +6.1%) • 17% of 2014 Experiential Luxury Market • 46% share of wallet (1st category)
35.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 34 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Leather Goods
Absolute Luxurer Absolute Luxurer • 22% of 2014 Leather Goods market • First contributor to long term growth (+3B€) Megacitier Omni Gifter & Timeless Proper #Little Prince Experiencer • 16% of 2014 Apparel market • First contributor to long term growth (+1.2B€) • 15% of 2014 Hard Luxury market • First contributors to long term growth (+2.2B€) • 11% of 2014 P&C Luxury Market • Fast growing segment (CAGR +6.1%) • 17% of 2014 Experiential Luxury Market • 46% share of wallet (1st category)
36.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 35 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Leather Goods:
Absolute Luxurer 1st contributor to long term growth Leather Goods Top luxury market growth by Segment 293 112 3 20 0 20 40 €B +9B€ 2021Others1#Little Prince Fashioni sta Mega citier Absolute luxurer 2014 14-21 CAGR (%) 7.4% 5.9%7.7% 8.1% 3.5% 2014 Market (%) 22% 9%15% 5% 49% Rounded numbers Source: BCG 2014 specific survey (10.000 Top luxury Consumers in 10 countries) Absolute Luxurer Total size #: 2.2M Spend/head: 30K€ Total spend: 67B€ Life stage: 35-45 yr. Gender: 55% W
37.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 36 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Quality and
exclusivity not negotiable, off price and low entry price disaffection triggers Source: BCG 2014 specific survey (10.000 Top luxury Consumers in 10 countries) Purchase Enablers Disaffection triggers 18 20 21 21 22 23 23 26Craftsmanship/quality Adorned aesthetics Customer care Brand visibility (logo) Value for money Shopping experience Customization Exclusivity 17 18 18 19 22 25 27 Stores too Large Production outside home country Too many categories Owned by majority of friends Poor distribution Fake copies Low entry price Too much off-price 30
38.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 37 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Handbags: 67%
of Absolute Luxurer researching online "Where did you buy handbags? Where did you researched them?" "Why did you researched online for handbags?" Follow/influence trends 14% Price and product comparison 17% Access to brand content 23% Opinion & Feedback Sharing 27% Interaction with brand 32% Gathering information on product 42% % of respondents 2% Pure onlineShow rooming1 7% Researched Online Purchased Offline 67% Pure in store 23% Total 100% Overall Avg. 38% 45% 8%9% 1. viewed in store, purchased on line Source: BCG 2014 specific survey (10.000 Top luxury Consumers in 10 countries)
39.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 38 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Brand polarization:
70-80% of Absolute Luxurer prefers specialist brands Total Handgabs Lifestyle brands Core Leather Goods brands 100% 22% 80% % of respondents % of respondents Total Shoes Lifestyle brands 71% 100% Core Leather Goods brands 25% Source: BCG 2014 specific survey (10.000 Top luxury Consumers in 10 countries) "Which type of brand do you prefer?"
40.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 39 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. The CONSUMER
era: key takeaways (I) 2 / 3 of the next decade's growth will be organic Growth to continue...: – Short term (2015): rebound in luxury confidence already in 2015 – Mid term (2021): 390M consumers to become 465; market to increase by 260€Bn ....but at multiple speeds: – Consumers: Top Luxury (4% of total) making 40% of growth alone – Geographies: US, China, EU and ME accounting for 55% of total growth – Sectors: Experiential luxury growing faster than Personal luxury – Categories: Jewelry & Watches and Leather 1st contributors to growth in Personal
41.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 40 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. The CONSUMER
era: key takeaways (II) Consumer: Confirmations and new realities – Made in still rules, but not granted – Digital influence reaching new heights – Omnichannel from buzzword to reality – Sustainability is happening 12 unique segments entering your stores with different expectations – Absolute Luxurer, Megacitier and Experiencer representing 65% of future growth Consumer lens the only way to capture future growth – Leather: Absolute Luxurer looking for craftsmanship and brand specialization... – Apparel: Casualization led by Megacitier,.. – Jewelry: Omni Gifter picking pure jewelry brands only,... – ... Consumer Insight next competitive advantage: there will be winners and losers
42.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 41 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. Antonio Achille Partner
and Managing Director - Milan Antonio Achille is a Partner and Managing Director in the Milan office. He is a senior leader of the Consumer & Retail team and he co-leads globally the Luxury practice for the firm. For 20 years, he has been advising National and International Groups on issues that include corporate strategy, growth acceleration, clients strategic segmentation, organization redesign and Post Merger Integration. In the Luxury and Fashion sector his experience includes apparel, eyewear, accessories, selective fragrances, jewelry/hard luxury and experiential luxury. The geographical scope of his work includes most of the developed and emerging luxury markets (EU, North America, China, Turkey, Korea, Middle East ….). He has developed an extensive knowledge on the Global Luxury Consumer and he is responsible for the database that includes a comprehensive view on over 40.000 consumers from 20 countries, developed in cooperation with Altagamma, the trade association for the Italian luxury industry. The actionable insights of the study are presented at the yearly event “True-Luxury Global Consumer Insight”. In addition he contributes to the annual Luxury Summit, one of the most valued discussion forum for the sector. He is also member of the Scientific Committee of one the first Italian master on Luxury. He is author and co-author of most of the recent BCG publication on Luxury such as "Luxury ecosystem advantage", "Shock of the New chic", ... Antonio is extensively quoted, as Luxury and Consumer expert, in Italian and International media, such as FT, WWD, Bloomberg, CNBC, FashionIllustrated, Il sole 24 ore, Il Corriere della Sera,... Prior to joining BCG he worked for Arthur D. Little. He graduated magna cum laude from the “Università L. Bocconi” of Milan where he holds a degree in Business Administration.
43.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 42 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. About BCG
and its Luxury practice The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 81 offices in 45 countries. Within the Firm, The Luxury practice, with more than 200 experts worldwide, advises Brands and Retail companies bringing together the experience of its centers of competence located in all key must-be geographies for the sector: Milan, New York, Paris, Shanghai, Hong Kong and Tokyo. BCG Luxury team has a deep and relevant experience driving profitable growth with leading Brands and Retail companies, from strategy to marketing and operations, and a unique point of view on consumer segmentation.
44.
P-Altagamma-317971-01-22Jan15-AAc-mil_Published_short.pptx 43 Copyright©2015byTheBostonConsultingGroup,Inc.Allrightsreserved. BCG contacts For
a copy of BCG "True-Luxury Global Consumer Insight" or to schedule an interview with Antonio Achille, please contact: INTERNATIONAL PRESS: • Lisa Trunfio email: Trunfio.Lisa@bcg.com or +39.02.65599242 ITALIAN PRESS: • Francesco Guidara email: Guidara.Francesco@bcg.com or +39.02.65599704 • Francesca Prosperi email: Prosperi.Francesca@bcg.com or +39.02.65599328
45.
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