French handbag maker Longchamp loved progressed income
growth last yr, bucking a slowdown inside the luxury goods industry.
family-controlled Longchamp, recognised for its
exceptional-selling Pliage luggage, stated on Tuesday revenue rose final year
by way of 10 percent at constant currencies to 566 million euros (438 million
pounds), up from 8 percent growth in 2014.
Longchamp's overall performance comes as sales boom has
slowed inside the luxurious items quarter, hit through weaker demand in China
and coffee oil fees lowering Russia
and center eastern buying electricity.
Rival Kate Spade (KATE.N) noticed its same-store sales
upward thrust strongly remaining yr, at the same time as teach's (COH.N)
fortunes have been improving.
Longchamp said its income increase benefited from new shops
in Asia and strong demand in Europe,
with the chinese now its second-biggest clients behind the French.
Longchamp, which opened 3 stores in mainland China
bringing the full quantity to twenty-five, said sales there had risen 30
percentage at constant currencies, a boom level harking back to what many
luxurious manufacturers enjoyed in China
five years in the past.
Longchamp said income fell in Paris
around 20 percentage in November and December after the attacks at the French
capital and it anticipated it would take as a minimum some months for tourists
to go back after a few cancelled journeys.
"In Paris,
we're nevertheless not back to the tiers we noticed earlier than the
assaults," Longchamp leader govt Jean Cassegrain instructed Reuters in an
interview.
Cassegrain stated he was no longer too worried approximately
the organisation's sales globally, as even though Paris turned into its primary
metropolis in terms of sales, shoppers could visit its stores in locations like
Amsterdam or Tokyo instead.
This 12 months, he stated the brand anticipated the equal
stage of sales growth as in 2015.
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