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Aline Serret Année universitaire 2010/2011
M1 LEA Commerce International
IMPACT OF THE ECONOMIC AND FINANCIAL
CRISIS ON THE LUXURY SECTOR
Faculté des Langues
Professeur suiveur : M. Sherratt Université Jean Moulin
Lyon 3
Summary
Acknowledgements 1
Presentation of the company 2
Presentation of the internship 4
Impact of the economic and financial crisis on the
luxury sector 7
Introduction 7
I. Luxury sector hit hard by the crisis 9
1. Most serious crisis in the sector for decades 9
2. In the grip of the crisis: the example of Chanel 10
3. Different economic consequences according to locations 11
II. Relative impact on well-established luxury goods
companies 13
1. Luxury armed against the crisis 13
2. Consumers need for luxury 14
III. How did luxury goods companies respond to the crisis?
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1. Adapting to the demand 16
2. New marketing strategies to revise market positioning 17
3. Restructuring programmes to deal with the crisis 18
Conclusion 20
Appendix 21
Internship appraisal («Attestation de stage»)
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Acknowledgements
First of all, I take this opportunity to gratefully
acknowledge M. Jean-Claude Piveteau, Autajon Group's HR manager, who accepted
my application for this internship and enabled me to integrate such a dynamic
and worldwide company as Autajon Group.
I wish to record my thanks to Mrs. Alice Hanot, HR development
manager, and M. Nicolas Ricaud, international division HR manager, who have
been my tutors during my whole internship and who were always present for me
when I was burdened with doubts and uncertainties.
Julie Drevet and Benjamin Gerenthon, intern and junior
webmaster respectively, who I worked with in my different missions, have been
very friendly to me from the very beginning and helped me integrate into the
company.
My University, the Université Jean Moulin Lyon 3,
enabled me to benefit from a rewarding professional experience during my
education which I know is a significant asset nowadays.
Finally, I wish to thank my English teacher, M. Robert Sherratt,
for accepting to be my `professeur suiveur' and correcting my report.
Aline Serret
Presentation of the company
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Autajon is an international-scale group with more than 3,000
employees. Its experience and its innovation capacity, its reputation and the
technical expertise of its employees are world leader in its industry: the
manufacture of folding cases and labels.
Little history
1964. Establishment of the company: Alain
Autajon starts his activity manufacturing folding cases for the pharmaceutical
industry in Montélimar (Drôme, France).
1978. Market and product diversification: the
company extends its activity to the perfumery and cosmetics markets.
Prestigious brands trust the firm since then. The experience and know-how
acquired lead the company to diversify its production towards luxury boxes.
1995. First external growth in France: the
acquisition of a business complements Autajon's activity by the production of
POS advertising and card packaging for automobiles, small equipment, textile
and confectionery. Autajon becomes a Group.
2001. International expansion: the second
acquisition of Autajon Group is a German specialised company in the manufacture
of boxes for perfumes and cosmetics, pharmacy and confectionery. Autajon
Group's development policy is extended from 2004 to 2009 through the
acquisitions of various companies across the world.
- Appendix 1: Autajon Group site locations
2002. Wine labels diversification: the
development of Autajon Group continues with the purchase of a company making
wine labels. It is a new activity for Autajon but remaining in its core
business, printing.
- Appendix 2: Autajon Group sites by sector
2011. Group's international strengthening:
Autajon Group has expanded its presence in Europe and the United States. It has
more than 3,000 employees, distributed on 23 sites, and its turnover exceeds
400 million Euros. Thus, the Group strengthens its leading position in the
manufacturing of folding cases and labels (wine-growing and industrial
sectors).
- Appendix 3: Evolution of Autajon Group's turnover
- Appendix 4: Turnover distribution by market segment
Each site of Autajon Group belongs to one of these 3 divisions:
Packaging, Wines & Spirits labels, Industrial Labels.
Autajon Group has experienced a dynamic and continuous growth
from the very beginning. This success comes from the commitment of its
employees that combine a passion for their craft and their skills with the
ambitions of the Group.
Its principles (performance and innovation, teamwork,
integrity and corporate social responsibility) not only guide the actions of
each but they also guide the Group's social policy.
Furthermore, diversity and mobility have become gradually
integrated as axes of HR development, in connection with the presence of the
Group in Europe and the United States. The Group's expansion creates more
opportunities for work and offers employees the possibility to follow a
rewarding career path.
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