RESEARCH SUMMARY -Latest Outcome of Our Research-
06/02/09
Luxury Import Brand in Japan 2009
-- in the market devided into "super premium" and "accessible" luxury --
Research Outline
Yano Research Institute has completed a study on import brand business in Japan as described below.
1. Research period: Februrary to May 2009
2. Research targets: Imported brand operators
3. Research methodologies:
Face-to-face interviews to key personnel, supplemented partly by questionnaire surveys.
Summary of Research Findings
Key Findings
¨ Imported apparel and accessories market in 2008 have experienced a negative growth only to maintain 89.8% of the previous year at retail value.
The market is forecasted to fall below 1 trillion JPY for 2009.
¨ Brand operators are facing difficult decision choosing super premium or accessible luxury.
Sudden decelaration in spending of the new-rich who had massive appetite for luxury brands had negatively impacted the market. Brand operators must make difficult decisions between stability in financial performance or retaining brand assets.
Research Summary1. Overview of the luxury import brand market
The shrink of the market was largely due to:
- The global scale financial crisis initiated in September 2008 had triggered consumers to hold back on spending on luxury items.
- Income gaps widened among consumers that making luxury brands away from affordable price range.
- Department stores and import brands are loosing attracting power for the next generation (under 30s) consumers.
2. Item trends
Scarves and handkerchief was the only item cagegory of positive growth. Leathers and bags were in doublel digit dip.
3. Future outlook
Even big brand names are moving into the products offering "value for price" or repricing. Outlet stores are gaining more attraction as a retail spot for consumers. Brands are required to steer in a sensitive climate.
English version of the report "Luxury Import Brand in Japan 2009 (English language version)"
Published Report
Report Title: Luxury Import Brand in Japan 2009 (Japanese language version)
*The information provided in the "Research Summary" is what is as of the date of announcement and could be altered or renewed without any prior notice.
