Luxury enjoys excellent health in the Usa
The luxury market in the United States enjoys excellent health and the desire for quality Italian products continues to grow. Armani is considered to be the most elegant clothing brand and is streets ahead of Christian Dior in a research carried out for Longines by survey company Harris Interactive on 1,777 American consumers.
An analysis of sales over the Christmas period leaves no doubt about the trend: although large discount stores (Wal Mart, K-Mart and Sears Roebuck) had only a slight increase with sales below expected levels, luxury department stores achieved unexpected results on Christmas Eve.
During December at stores open for at least a year, Neiman Marcus increased its sales by 10.8%, and Nordstroem (9.3%), Saks (12%) and Bergdorf Goodman (10%) did equally well.
According to research company Ndp Group, 2004 closed with sales of luxury goods standing at 42 billion dollars, an increase of 8.3%, but products at a lower level had an increase of between 2 and 3%. At 1.5 billion euros, exports for the first nine months show that, despite the euro, Italian fashion is keeping its hold on exports to the United States, and that the downturn in quantities is an indication of the higher quality of the products sold, because the average price has risen.
The rush on designers had significant benefits for the big Made in Italy names. Robert Burke, vice chairman of the fashion department at Bergdorf Goodman, said that the articles which were most successful during the last season included bags by Dolce & Gabbana, whereas the Mitchell and Richard boutique at Wesport, Connecticut, mentioned Ermenegildo Zegna shirts and Brioni suits.
Saks-Jandel clients at Chevy in Maryland longed for gem-studied bags by Valentino. Confirming the excellent sales trend, this year the big luxury chains did not have to resort to price slashing. Excellent sales results were also registered at many of the Italian fashion houses' American subsidiaries.
'Our boutiques in America closed 2004 with an upturn in sales of about 30%', Roberto Cavalli retail worldwide management explained to Sole 24 Ore, 'and we expect 2005 to be excellent, also thanks to the upcoming opening of the store in Los Angeles'.
Increased billings in America also for the fashion house from Naples, Kiton, whereas a spokesperson for Ferragamo explained that the store on New York's Fifth Avenue closed the year above the figure expected.
Coming back to what American consumers like, Armani is considered to be the most elegant fashion brand and is liked by all ages, while Prada is growing in popularity with young people. In any case, the 'elegant' names are, first and foremost, Italian and French.
Armani was chosen by 57% of American consumers (who gave multiple answers), which rose to 63% among men; Dior is much preferred by women, but without affecting the Italian brand. Versace is in third place (mentioned by 34% of the interviewees, more for young people). Fifth Gucci (31%), coming before the other brand in the Ppr group, Yves Saint Laurent. Next comes Prada and Valentino and, further behind, Dolce & Gabbana.
The reference brands change depending on age: more 'mature' Americans tend to think of the well-established fashion houses, such as Dior, de la Renta and Blass, as being more elegant, younger people favor stylists who have found success more recently, such as Prada, Marc Jacobs and Dolce & Gabbana.
(Source: Il Sole 24 Ore)
