Lifeng Group Issued Early Warning Of Profit Decline

In March this year, the group announced that its luxury electric business Net-a-Porter merged with Italy's Yoox.

The group said that Net-a-Porter was divided into "ready to sell assets" in the 2014/2015 financial year, and will not be merged into the consolidated financial statements from the next financial year.

Excluding Net-a-Porter, the company expects revenue to rise by 4% in the last fiscal year.

The complete 2014/2015 annual report is expected to be announced in May 22nd.

The bad news of the luxury group is still spreading.

In the month before the announcement of the 2014/2015 annual report, the peak of the luxury goods group issued an early warning of annual profit decline, exceeding 1/3 in April 22nd.

The Geneva based Swiss group has jewelry brands such as Cartire and Jacques, and high-end watches including Lange, celebrities, Jaeger Le Coulter and Wanguo.

According to the statement, the group's annual profit will fall by 36%, due to the failure of investment in financial instruments such as money products and derivatives.

The euro is further depreciated due to the euro zone quantitative easing programme implemented by the European Central Bank as the peak accounts in euros.

The world's largest bond broker, Pacific Investment Management Company (PIMCO) securities Manager

He said: "there has been no preparation for the rise of Swiss francs, and it is a severe blow for them."

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The biggest market, the Asia Pacific region's performance is difficult to compare with the past, the main reason is that the sales of Hongkong and the mainland market have declined in the past year.

DidierSaint-Georges, general manager of the French Asset Management Co CarmignacGestion, said in a media interview that in the long run,

The rapidly growing middle class will make a bright prospect for the Luxury Retailing industry.

The Bank of Paris in France has observed that the Chinese market is becoming more and more complicated.

The government has taken active measures to reduce the gap between the rich and the poor, so that millions of people can get rid of poverty.

This move has increased the population of China's middle class and will become the main consumer of luxury goods in the next 5-10 years.

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For new people, competition is always a good way to get ahead quickly and improve reputation.

It looks like a big gun, but in fact, designers have done more than ten years of retail experience.

After Massimo Giorgetti graduated from high school, he sold in many boutiques and buyer shops in Italy. This line of struggle made him have the business sense and shop experience that young designers usually lacked.

He is well aware of the demand for designer brands and market preferences in the buyer's shop.

"I know when and when things will be sold. When we open the box, I will immediately know what can be sold."

It is not Massimo Giorgetti, who designs a professional team, who describes his experience as a salesperson. "Those things that are strong enough to wear can make people pay.

Another thing I've learned is that very, very heavy fabrics can't be sold at all. "

Giorgetti is not eager to get ahead. Before he formally established his brand, he was a creative consultant for several capsule series and designed jeans and T-shirts.

Until 2008, the 32 year old Massimo Giorgetti co operated with Paoloni Group of Italy clothing group, launched its own brand MSGM, released its first series in 2009, and launched the Milan fashion week in September 2013 and opened its first independent store in Milan.

In 2010, Massimo Giorgetti took part in the "Who is on Next" competition sponsored by the Italy edition VOGUE. This is a competition aimed at mining and promoting Italy's new local designer brand, and Massimo Giorgetti rushed into the finals.

This endorsement has strengthened the confidence of buyers in MSGM. Antonia, Eleonora, Luisa Via Roma from Italy, Browns from London, and lac, Joyce of Asia have signed contracts with them.

Good timing is also essential.

With bold colors, interesting prints and stripes as the brand DNA's MSGM, it is visually powerful. It can be seen that this is a major feature of the rise of the fashion industry after the economic crisis. "I want to try something that is powerful, colorful and very joyful."

Massimo Giorgetti explains his original idea in this way.

"Expensive and beautiful things are easy to make. The real difficulty is to make a product that is acceptable but still cool.

Evening wear is very well designed, but my target customers are young, cool, curious young people, and for them, the night is no longer there.

The brand of modernity that he describes has appeared in the United States, which fills the gap between high fashion and high street brand, which is usually dominated by the vice line of high fashion. However, with the decline of the brand's secondary line, a number of brands with similar prices, but with more distinctive styles are emerging.

In 2009, the market was very prosperous in the United States, but in Milan at that time, everything had not yet started.

Following the Armani, Valentino, Versace and other master brand, in Italy, the exciting designer has been criticized for many years. The emergence of MSGM made up for the timely attention, and seized the attention and resources.

"Many people say that the secret of MSGM's success is to become the first and only contemporary brand in Italy."

Massimo Giorgetti has said this to the BoF fashion business review.

"Italy has become the leader of Italy's contemporary fashion market, with a reasonable price and a strong visual impact," Silvano Vangi, Luisa Via Roma buyer's director of well-known buyer's shop, said.