After 90, Chinese Young People Dare To Spend Money On Tariff Reduction To Facilitate Consumers' Reflux.

With the tariff reduction of imported products, the price gap between luxury goods at home and abroad has been decreasing, and consumers' willingness to shop in China will become more and more intense. The Chinese market has become the most attractive cake that luxury brands can not ignore.

According to a statement issued by the State Council, from July 1st this year,

The average tariff rate of import duties such as kitchens and sports fitness products will be reduced from 15.9% to 7.1%. The average tariff rate of skin care, hair salons and other cosmetics and some medical and health products will be reduced from 8.4% to 2.9%.

It is noteworthy that this is the second tariff reduction announced by the State Council in the past six months.

Some people believe that tariff reduction is not only in line with the direction of domestic consumption upgrading, but also conducive to attracting the return of consumption and better keeping consumption in China.

In the context of favorable policies, mainstream luxury brands such as Gucci, Louis Vuitton and Prada have begun to increase investment in the Chinese market in recent years, and disclosed that 30% of the revenue in the Chinese market comes from young consumers.

According to McKinsey's latest report, Chinese luxury consumers spend more than 500 billion yuan per year, accounting for nearly 1/3 of the global luxury goods market. Among them, China's post-90s generation has become the most willing to spend money on luxury goods.

According to the agency's prediction, in the first half of this year, China

The revenue growth is between 15% and 20%.

As for the phenomenon that Chinese luxury consumers are generally younger than other countries in the world, there are people in the industry who believe that they are related to the living environment and educational concepts, especially young people aged between 20 and 34. Consumers of this age group generally form the habit of buying luxury brands from childhood, from jewelry, fashion to cosmetics and handbags, and buy more frequently.

According to a research report on luxury consumers released by Rogerio Fujimori, a global luxury research analyst at RBC, a market research firm, it was found that among the 643 luxury consumers who were 18 to 65 years old, the purchase intention of Chanel in the luxury handbag category was the highest, reaching 20%, followed by Gucci 16%, Hermes 12%, Prada 9%, LV and Dior 8%.

The report also finds that Chinese consumers are buying

And beauty products are more interested in handbags, watches and jewelry.

From the data level, whether Gucci parent company Kai Yun group, Louis Vuitton parent LVMH or Hermes, mentioned in the latest earnings report

Positive impact on performance.

Among them, the performance of Kai Yun Group continued to maintain strong growth. In the first half of June 30th, total sales rose 26.8% to 6 billion 432 million euros compared with the same period last year. Sales of core brand Gucci rose 44.1% to 3 billion 853 million euros, up 43% from the same period last year, and sales increased 35% in the second quarter.

This means that Gucci has won the luxury industry for 10 consecutive quarters. According to the fashion headline data, the revenue of LVMH leather clothing sector increased by 25% in the first half of fiscal year, while the growth of Hermes sales was only 5% in the same period.

In June, 108 years after its establishment, Chanel launched the first initiative to publish the data of last year's earnings, which attracted the attention of the industry and consumers. Its total sales rose 11% to 9 billion 620 million US dollars, and its operating profit amounted to US $2 billion 690 million.

It is pointed out that the reason why Chanel released the data is not only hints that it will not be sold, but also a response to the industry's view that its products are aging and conservative.

After a series of innovative measures, Italy's luxury brand Prada, which has been silent for a long time, has improved its performance. In the 6 months ended June 30th, group sales increased by 3.3% to 1 billion 535 million euros, and net profit rose 10.7% to 106 million euros.

According to Prada Group Chairman Carlo Mazzi, the new Prada Cloudbust sneakers are highly sought after by the market, and more leisure products will be launched in the future to meet the needs of millennial consumers.

Salvatore Ferragamo and Tod's, which belong to Italy luxury group, are still in a critical period of pformation and reorganization.

In order to stimulate the early recovery of performance, Salvatore Ferragamo appointed Gucci veteran Micaela Le Divelec as the new CEO at the beginning of this month.

After the new CEO and creative director, the British luxury brand Burberry is also ready for radical reform.

In August 2nd, Burberry suddenly announced the launch of new logo and Thomas Burberry printing on Instagram. The design was jointly led by creative director Riccardo Tisci and graphic designer Peter Saville, inspired by the classic logo in 1908.

It is reported that the whole process of communication takes only 4 weeks, which is regarded as the foreshadowing of the first series of Riccardo Tisci 9 month in Burberry.

Another analysis pointed out that with the gradual saturation of high-end market in China's first tier cities, luxury brands will expand to two or three tier cities such as Xi'an and Chengdu in the future.

In May 28th, Prada opened a new store in SKP, Xi'an, and officially launched its efforts in China.

At the beginning of this year, Louis Vuitton added new stores in Wuhan; jewelry brand Chaumet opened a new store in Wuxi in the second quarter; after Changsha, Hermes will enter Xi'an in September.

At the same time, the luxury brands also began to pay more and more attention to the layout of the Chinese online market. Louis Vuitton, Gucci and Bally brands launched the Chinese e-commerce website last year. The Chinese online shopping service of Hermes is scheduled to be launched later this year.

It is noteworthy that Louis Vuitton officially launched the delivery service for the major cities in China on the occasion of the 1st Anniversary opening of the flagship store in China. This means that consumers in other cities across the country will also be able to enjoy the brand's premium "shop" services, including delivery service and 7 day return policy.

In order to better grasp the Chinese consumers, Louis Vuitton has also worked with Baidu to use facial recognition technology to release the first perfume series in China.

However, some people believe that the growth potential of Chinese luxury consumers is limited, and the future of luxury fashion brands will still face tough challenges if they want to achieve greater growth.

As the younger generation of Chinese consumers become more mature in fashion awareness and attach importance to individuation, high-end niche designer brands will have an impact on the market position of traditional luxury brands.

According to Reuters analysis, with the promotion of China and the US consumer force, the high price of luxury goods companies has left many investors at a distance. If the trade war between the United States and China continues to escalate, a bright rise in luxury stocks may suddenly come to an end.

According to Reuters data, the average price earnings ratio of the luxury sector is 21 times the next 12 months, lower than the peak in May, but still 23% higher than the 10 year average.

The following is a summary of the second quarter and first half of 2018 based on the fashion headline data, covering luxury brands, light luxury, fast fashion, sports brand, jewelry brand and beauty makeup group.

LVMH (LVMH.PA)

The stock price has risen 23% since this year, and its market value is about 150 billion 400 million euros.

In the second quarter ended June 30th, LVMH sales rose 11% to 10 billion 890 million euros compared with the same period last year. Sales in the first half of the year increased 10% to 21 billion 750 million euros, while net profit rose 41% to 3 billion euros.

The strong growth of the group's core brand Louis Vuitton helped boost the sales of leather goods sector by 15% to 8 billion 594 million euros, while the watch and jewelry sector's revenue grew by 16%, while the perfume and cosmetics sector's revenue grew by 16%, while that of the selective retail sector increased by 9%, while that of the wine and spirits sector increased by 7%.

Kai Yun group (KER.PA)

The stock price has risen 18% since this year, and its market value is about 56 billion 900 million euros.

In the first half of June 30th, total sales of Kai Yun group rose 26.8% to 6 billion 432 million euros, up 32% to 3 billion 300 million euros in the second quarter.

During the period, sales of core brand Gucci rose 44.1% to 3 billion 853 million euros, up 43% from the same period last year, and sales increased by 35% in the second quarter, and its operating profit soared 62.1% to 1 billion 470 million euros, with a turnover rate of 38.2%.

Chanel

In June, 108 years after its establishment, Chanel launched the first initiative to publish the data of last year's earnings, which attracted the attention of the industry and consumers. Its total sales rose 11% to 9 billion 620 million US dollars, and its operating profit amounted to US $2 billion 690 million.

Chanel has no debts at present and has 1 billion 600 million dollars in cash.

At present, its total turnover exceeds Gucci and other competitors, advancing with Louis Vuitton.

Hermes (RMS.PA)

Stock prices have risen 23% since this year, with a market value of about 57 billion 300 million euros

In the three months to June 30th, Hermes sales increased by 7.2% to 1 billion 460 million euros, with a 11.6% growth rate at fixed rates.

In the first quarter, sales grew at 11%, and in the first half of the year, revenue increased by 5% to 2 billion 853 million euros, with a fixed exchange rate of 11% growth. The group said the exchange rate fluctuations in the first half of the first half of the year resulted in a loss of 165 million euros for the group's income.

VTX.CFR

The stock price has fallen by 6.4% since this year, and its market value is about 43 billion 900 million Swiss francs.

In the 12 months ended March 31st, its sales increased by 3.1% to 10 billion 980 million euros, operating profit increased 4.5% to 1 billion 840 million euros, and net profit was 1 billion 220 million euros in the previous year.

Group Chairman Johann Rupert said that thanks to the improvement of the macroeconomic environment, the group pformation process is steadily advancing, with the promotion of China, Korea and other major markets, the group's sales in the Asia Pacific region recorded double-digit growth during the period.

Prada group (01913.HK)

The stock price has risen 24% since the beginning of this year, and its market value is about HK $89 billion 800 million.

In the 6 months ended June 30th, Prada Group sales grew 3.3% to 1 billion 535 million euros, and net profit rose 10.7% to 106 million euros.

The announcement shows that sales of Prada from retail channels are 1 billion 237 million euros, a year-on-year increase of 9.7% over fixed exchange rates, and sales by brands, products and regions are positive.

Burberry (BRBY.LON)

The stock price has risen 26% since this year, and its market value is about 9 billion 400 million pounds.

In the three months ended June 30th, Burberry sales increased by 3% to 479 million, compared with fixed exchange rates.

During the period, the brand recorded a median digit growth in the Asia Pacific region, mainly benefiting from the increase in luxury consumption of Chinese consumers. Sales in the EMEIA region recorded a decline in the number of low digits, which was affected by geo economic instability in other parts of the United Kingdom and Europe.

Ferragamo (SFER.BIT)

The stock price has fallen by 11% since the beginning of this year, and its market value is about 3 billion 300 million euros.

In the 6 months ended June 30th, Salvatore Ferragamo sales decreased by 6.2% to 674 million euros, while net profit plunged 23.1% to 59 million euros.

Among them, sales from retail outlets fell 5.2% to 426 million euros, accounting for 63.3% of total revenue, while sales from wholesale channels decreased by 7.6% to 236 million euros, or 36.1% of total revenue.

Tod's (TOD.BIT)

The stock price has fallen by 0.2% since the beginning of this year, and its market value is about 1 billion 800 million euros.

In the 6 months ended June 30th, Tod's Group sales fell 1.3% to 477 million euros, up 1.8% from fixed exchange rates, while net profit decreased 2.8% to 33 million 700 thousand euro from 34 million 700 thousand euros a year earlier.

Among them, Tod's brand sales fell 3.4% to 256 million euros, Hogan sales increased 6.5% to 105 million 200 thousand euros, Roger Vivier sales fell 2.3% to 90 million 400 thousand euros, Fay's revenue fell 4.7% to 24 million 700 thousand euros.

Moncler (MONC.BIT)

The stock price has risen 45% since this year, and its market value is about 9 billion 600 million euros.

In the 6 months ended June 30th, Moncler net profit rose 47% to 61 million 600 thousand euros, gross profit margin was 76%, sales increased 21% to 493 million 500 thousand euros, exceeding analysts' expectations.

Sales of Moncler from retail outlets rose 33% to 376 million euros, while wholesale channel sales increased 12% to 116 million 700 thousand euros.

Canada Goose (GOOS.NYSE)

The stock price has risen 63% since this year, and its market value is about 5 billion 500 million dollars.

In the three months ended June 30th, Canada Goose sales rose 59% to 44 million 700 thousand US dollars, gross profit margin was 64%, net loss was expanded to 19 million US dollars from last year's 12 million US dollars, which was mainly affected by the accelerated expansion of brand management cost.

Among them, Canada Goose revenue from wholesale channels rose 8% to 21 million 500 thousand dollars, gross profit was 10 million 900 thousand dollars, direct retail channel sales rose 180% to 23 million 200 thousand dollars, gross profit was 17 million 700 thousand U.S. dollars.

Tapestry (TPR.NYSE)

The stock price has risen 14% since this year, and its market value is about 15 billion dollars.

In the three months ended June 30th, the US luxury brand Coach parent company Tapestry sales surged 31% to 1 billion 480 million US dollars compared to the same period last year, net profit rose 39.5% to 211 million 700 thousand US dollars year-on-year, year-on-year sales rose 31% to 5 billion 880 million US dollars, and gross profit margin was 65.5%.

Among them, Coach's annual sales increased by 3% to 4 billion 220 million dollars in 2018, Kate Spade's annual sales volume was $1 billion 280 million, and Stuart Weitzman sales amounted to $374 million, unchanged from the previous fiscal year.

Michael Kors (KORS.NYSE)

The stock price has risen 14% since this year, and its market value is about 11 billion 100 million dollars.

In the three months ended June 30th, Michael Kors Group sales surged 26.3% to $1 billion 200 million, while net profit rose 48.5% to $186 million, exceeding Wall Street analysts' expectations.

During the period, sales of Michael Kors brands in the Asia Pacific region, including the Chinese market, surged 17% to 137 million US dollars, while Jimmy Choo recorded 45 million 400 thousand US dollars in the region.

Hugo Boss (BOSS.ETR)

The stock price has fallen by 4% since the beginning of this year, and its market value is about 4 billion 900 million euros.

In the second quarter ended June 30th, Hugo Boss revenue grew 3% to 653 million euros, operating profit fell 8% to 74 million euros, and net profit decreased 7% to 54 million euros.

Among them, Hugo brand sales fell 6% to 85 million euros in the quarter, Boss sales increased 4% to 568 million euros, men's sales increased 4% to 568 million euros, and women's wear sales fell 5% to 65 million.

Aeffe group (AEF.BIT)

The stock price has risen 20% since this year, and its market value is about 300 million dollars.

In the first half of June 30th, sales of Moschino parent Aeffe group rose 14.1% to 171 million euros, while net profit surged 79% to 8 million 300 thousand euros in the Greater China region.

Among them, sales of the group garment industry increased by 13.2% to 132 million euros, and footwear and leather goods sector revenue rose 15.4% to 58 million 100 thousand euros.

During the period, sales in the Italy market increased by 12.7% to 81 million 200 thousand euros, while sales in the Greater China region recorded a 41% increase.

VF group (VFC.NYSE)

The stock price has risen 23% since this year, and its market value is about 36 billion 400 million dollars.

In the three months ended June 30th, the Vans parent group's total revenue rose 23% to $2 billion 790 million, up from analysts' estimates of $2 billion 680 million, and net profit increased to $160 million 400 thousand from $109 million 900 thousand a year ago.

The group said its growth was mainly driven by strong sales of its core brand Vans, which has increased by 35% during the period.

Levi Strauss& Co.

In the three months ended May 27th, the Levi's of American denim apparel group increased from $1 billion 70 million in the same period last year to US $1 billion 250 million, and adjusted profits rose 15% to US $77 million US $67 million.

Chip Bergh, chief executive, said in its earnings report that Levi's group's revenue is expected to exceed US $5 billion for the first time this year, thanks to strong growth and global expansion of wholesale channels in the US.

L Brands (LB.NYSE)

The stock price has fallen by 45% since the beginning of this year, and its market value is about 9 billion 100 million dollars.

In the three months ended August 4th, L Brands sales increased by 8.3% to 2 billion 984 million US dollars compared with the same period last year, a 3% increase compared with the sales growth. The sales volume in the first half of this year increased by 8% to 5 billion 610 million US dollars.

With the continued downturn in retail sales in North America, the company began to enter the Chinese market last year. Apart from its new store opened in Hongkong in July, the brand has opened a flagship store in Beijing, Shanghai, Chongqing, Chengdu, Guangzhou and Shenzhen.

H&M (HM-B.STO)

The stock price has fallen by 25% since this year, and its market value is about 191 billion 800 million kronor.

Affected by the increased cost of technology investment and refurbishment of stores, the second quarter profits of the Swedish fast fashion giant H&M fell 21% to $520 million, while sales rose 2% to 60 billion 460 million Swedish krona, or about 6 billion 900 million US dollars.

Among them, online sales increased by 17% compared with the same period last year, and the total sales volume of new brands increased by 14% over the same period last year.

In the first 6 months of May 31st, H&M net profit plunged 33% to 7 billion 270 million kronor, or about $800 million, and sales were basically flat compared with the same period last year, with a SEK 114 billion 10 million, or about 12 billion 600 million US dollars.

Inditex (ITX.BME)

The stock price has fallen by 4.6% since the beginning of this year, and its market value is about 86 billion 200 million euros.

In the three months ended April 30th, the Inditex Group sales of Zara parent company increased by 2% to 5 billion 654 million euros compared with the same period last year, the growth rate slowed down sharply compared with 14% in the same period last fiscal year, the gross profit margin was 58.9%, and net profit increased 2.23% to 669 million euro compared with the same period last year.

As of the end of the reporting period, the group has 7448 stores in 96 countries and regions worldwide, representing a decrease of 27 compared with the previous quarter.

Fast marketing group (9983.TYO)

The stock price has risen 4% since this year, and its market value is about 5 trillion and 190 billion yen.

In the first 9 months to the end of May, Japan's fast fashion UNIQLO fast retailing group's revenue grew 15.3% to 1 trillion and 700 billion yen compared with the same period last year, operating profit rose 32.3% to 238 billion 800 million yen, and net profit rose 23.5% to 148 billion 300 million yen.

In the third quarter, sales of fast selling group increased 12.4% to 517 billion 300 million yen compared with the same period last year, and net profit surged 93.1% to 44 billion 100 million yen.

Espirt parent company (0330.HK)

The stock price has fallen by 52% since the beginning of this year, and its market value is about HK $3 billion 700 million.

Esprit's parent company's global operating group's operating deficit for the fiscal year ended June 30, 2018 is estimated at HK $2 billion 250 million and net profit of HK $67 million in the last fiscal year.

Due to a decrease in the volume of retail outlets, the Group expects revenue decline to continue to be in fiscal year 2019 and fiscal year 2020, thus reducing revenue forecasts for fiscal year 2018-2020 to 1.6%, 2.9% and 3.7% respectively.

Nike group (NKE.NYSE)

The stock price has risen 26% since this year, and its market value is about 126 billion 600 million dollars.

In the fiscal year ending May 31st, Nike Group sales increased 6% to $36 billion 400 million compared with the same period last year, while net profit dropped by 54% to $1 billion 930 million, reflecting the huge impact of the US tax reform.

In the fourth quarter, Nike Group sales rose 13% to $9 billion 790 million compared with the same period last year, while net profit also increased by 13% to 1 billion 140 million dollars.

Adidas Group (ADS.ETR)

The stock price has risen 24% since this year, and its market value is about 43 billion 800 million euros.

In the three months ended June 30th, Adidas sales increased by 4.4% to 5 billion 261 million euros, while net profit rose 20% to 418 million euros.

Among them, sales growth of Adidas brand in North America slowed to 16%, but recorded a strong increase of 27% in China.

Puma (PUM.ETR)

The stock price has risen 26% since this year, and its market value is about 6 billion 900 million euros.

In the second quarter ended June 30th, Puma sales surged 15% to 1 billion 49 million euros, and achieved double-digit growth in all regions and product sectors, gross margins rose to 48.6%, and operating profit rose 33% to 58 million euros.

In the first half of this year, Puma sales surged 18% to 2 billion 180 million euros, and net profit increased 37.7% to 98 million 500 thousand euros.

Under Armour (UAA.NYSE)

The stock price has risen 39% since this year, and its market value is about 9 billion 200 million dollars.

In the three months ended June 30th, Under Armour sales increased by 8% to $1 billion 170 million, gross profit margin was 44.8%, net loss increased from $12 million 300 thousand a year earlier to 95 million 500 thousand US dollars.

In the first half of fiscal year 2018, sales of Under Armour increased by 6.7% to $2 billion 360 million over the same period, and net loss increased from 14 million 500 thousand US dollars to US $125 million.

Lululemon (LULU.NASDAQ)

The stock price has risen 62% since this year, and its market value is about 17 billion 600 million dollars.

In the three months ended April 29th, lululemon sales surged 24.9% to $649 million 700 thousand, and net profit surged 141% to $75 million 200 thousand.

Last month, lululemon formally appointed Calvin McDonald as its chief executive and came into effect in August 20th.

Skechers (SKX.NYSE)

The stock price has fallen by 22% since the beginning of this year, and its market value is about 4 billion 800 million dollars.

In the three months ended June 30th, Skechers Group sales increased by 10.6% to $1 billion 134 million compared with the same period last year, operating profit grew 14.9% to 561 million US dollars, and net profit dropped 24% to 45 million 300 thousand US dollars.

Sales volume of wholesale business in the international region increased by 24.9%, but sales in the US market were weak, down 7% compared to the same period last year, and retail channel sales grew by 12.8% over the same period last year.

Deckers group (DECK.NYSE)

The stock price has risen 49% since this year, and its market value is about 3 billion 600 million dollars.

In the three months ended June 30th, the income of Deckers group of UGG parent company was recorded at US $250 million, exceeding the analyst's estimate of US $228 million, and net loss narrowed to US $30 million 407 thousand compared with 42 million 121 thousand US dollars in the same period last year.

During the period, the revenue of group core brand UGG rose by 19% to $136 million.

Columbia (COLM.NASDAQ)

The stock price has risen 24% since this year, and its market value is about 6 billion 300 million dollars.

In the second quarter ended June 30th, Columbia sales surged 21% to 482 million US dollars, and net profit was 9 million 700 thousand US dollars. Sales in the first half of this year increased by 16% to 1 billion US dollars. For the first time since its establishment in 1938, it has entered the 1 billion dollar Club, and net profit has also recorded a record $54 million 800 thousand.

L'OREAL group (OR.EPA)

The stock price has risen 12% since this year, and its market value is about 114 billion 600 million euros.

In the three months ended June 30th, sales of L'OREAL group increased by 0.7% to 6 billion 610 million euros, while sales in the first half increased 6.6% to 13 billion 390 million euros, while net profit rose 11.9% to 2 billion 280 million euros.

During the period, L'Or e al Luxe and Active Cosmetics departments gained double-digit growth under the promotion of diversified brand matrix and innovative products.

Estee Lauder group (EL.NYSE)

The stock price has risen 6.5% since this year, and its market value is about 50 billion dollars.

In the three months ended June 30th, Estee Lauder group's sales grew by 13.8% to $3 billion 300 million over the same period, exceeding analysts' expectations of $3 billion 250 million, and net profit fell 18.7% to 186 million US dollars a year.

During the period, the Group recorded growth in all regions and product sectors of the world, mainly due to outstanding performance in channel performance such as tourism retail and e-commerce.

Shiseido group (4911.TYO)

The stock price has risen 30% since this year, and its market value is about 2 trillion and 900 billion yen.

In the six months ended June 30th, Shiseido's largest net profit rose by more than doubled to 47 billion 670 million yen compared with the previous year, accounting for about 428 million US dollars at current exchange rate, operating profit also more than doubled to 71 billion 110 million yen, and group sales rose 12.8% to 532 billion 600 million yen, thanks mainly to the increase in group marketing investment and the strong growth in sales in the Chinese market.

Revlon group (REV.NYSE)

The stock price has fallen by 20% since the beginning of this year, and its market value is about 940 million dollars.

In the three months ended June 30th, Revlon Revlon group's sales fell 6% to 606 million 800 thousand US dollars compared with the same period last year, and net loss expanded to US $122 million 500 thousand compared with 36 million 500 thousand US dollars in the same period last year.

Among them, Revlon brand sales fell 10.8% to 258 million dollars, while sales of Elizabeth Arden increased 4.9% to 106 million 100 thousand dollars.

Procter & Gamble group (PG.NYSE)

The stock price has fallen by 8% since the beginning of this year, and its market value is about 211 billion dollars.

According to P & G's fourth quarter earnings report, its revenue grew by 3% to $16 billion 500 million compared to the same period last year, while net profit decreased by 14% to $1 billion 890 million compared with the same period last year. The sales of its high-end brand SK-II increased 10%, and it has recorded an increase of 15 consecutive quarters, with an average increase of more than 20%.

OLAY, another brand of cosmetics products department, has achieved two digit growth for 5 consecutive quarters because of its strong sales performance in China.

L'OCCITANE (0973.HK)

The stock price has fallen by 8% since the beginning of this year, and its market value is about HK $20 billion 200 million.

In the 3 months ended June 30th, sales of L'Occitane L'OCCITANE group increased by 6.2% to 297 million euros, and 12.3% by fixed exchange rate.

Among them, retail channel sales account for 74.4% of total revenue, reaching 220 million 800 thousand euros, while retail sales from e-commerce channels increased by 5.5%.

By region, the US and greater China are the two fastest growing markets with double-digit growth.

Pandora (PNDORA.CPH)

The stock price has fallen by 44% since this year, and its market value is about 43 billion 300 million DKK.

In the second quarter ended June 30th, Pandora sales were basically flat 4 billion 820 million DKK in the same period last year, up 4% from the local currency exchange rate, up from market expectations, and the EBITDA profit margin was 31.1%, down 33.4% from the same period last year.

The Group expects its annual sales growth to be 4% to 7%, and the profit margin before depreciation and amortization is 32%. It also reveals that 250 new stores will be opened this year.

Tiffany & Co. (TIF.NYSE)

The stock price has risen 21% since this year, and its market value is about 16 billion 100 million dollars.

In the first quarter of April 30th, Tiffany sales surged 15% to $1 billion a year, while same store sales increased by 10%. Net profit rose 22.7% to $142 million 300 thousand over the same period last year, exceeding analysts' expectations.

During the period, all product sectors recorded growth in major regions of the world, and the Board approved a stock buyback plan of up to US $1 billion.

Zhou Dafu (1929.HK)

The stock price has fallen by 18% since the beginning of this year, and its market value is about HK $69 billion 300 million.

In the first quarter of June, Zhou Dafu's retail sales in Hongkong and Macao increased by 21% over the same period last year, while the same store sales increased by 26%. The mainland's retail sales increased by 11% compared with the same period last year, while the same store sales increased 4%.