Conclusion
Even if the luxury sector entered the crisis later than other
industries, it was hit hard eventually. Nevertheless, the first figures of 2010
are very promising (4% growth in the first quarter), especially given the
sluggish global economy. The context favours a new concentration of the market
in which leaders (very top of the range brands) have low debt levels and
significant expansion capacities. There is a gap between these brands and
smaller brands which face big profit issues.
Luxury seems to be reborn and the main reasons behind it are
interpreted as the nature of luxury itself and its unique consumers. Consumers
are less in search of ostentation, status but rather discreet and quality
products. At the same time, they are no longer facing dominant brands who
impose the codes of luxury. A more balanced relationship is born in which
luxury brands must listen and interpret consumers' desires and expectations.
Nothing is going to be like before the crisis anymore and this gives a new
sense to luxury consumption.
Appendix 1: Autajon Group's site locations
Source: Autajon Group
21
Appendix 2: Autajon Group's sites by sector
Source : Autajon Group
Appendix 3: Autajon Group's turnover (M€)
Source: Autajon Group
23
Appendix 4: Autajon Group's turnover distribution by
market segment
Source: Autajon Group
Internship appraisal («Attestation de stage»)
25
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