在第八届中国国际进口博览会上，中高端消费国际品牌再度齐聚。面对中国国内消费市场的新变化、新 挑战，第一财经记者采访的多位时尚和奢侈品行业高管表示，他们对中国市场的未来充满信心。 拥有蔻驰（COACH）等品牌的美国时尚集团泰佩思琦（Tapestry）首席增长官兼国际业务总裁赛思 （Sandeep Seth）在接受记者专访时表示:"我们预计未来集团75%的增长将来自国际市场，而中国是其中 的最大市场。" 他补充称，进博会是公司了解政策方向、观察其他品牌的动态以及展示自身优势的"综合性的机会"。他 向记者透露，泰佩思琦已经在中国的90个城市开设了近400家门店，并计划在未来几年内再开100家门 店。"所以，在这里听到政府将继续支持增长的开放态度，让我们对在中国的投资计划更有信心。我将 带着这一积极的消息返回纽约。"他说。 对于行业领袖前往中国品牌"探店"的举动，赛思则表示，他"很高兴其他品牌已经开始这样做"，但他同 时认为，"关键不仅仅是与消费者见面和参观这些地方，关键是你如何让你的品牌适应这一代人的价值 LVMH集团腕表部门和旗下宝格丽的CEO让·克里斯托夫·巴宾在接受第一财经等媒体采访时，称赞中国 正在人工智能 ...

Core Insights - The China International Import Expo is viewed as a comprehensive opportunity for brands to understand policy directions, observe competitors, and showcase their strengths [1] - Executives from the fashion and luxury goods industry express confidence in the future of the Chinese market despite new challenges [1][4] - Tapestry anticipates that 75% of its future growth will come from international markets, with China being the largest contributor [1] - LVMH's watch division CEO believes that China's rapid development in new technologies will lead to increased disposable income for consumers [2] Company Performance - LVMH has ended a multi-quarter revenue decline, showing slight growth, while Hermès and Prada reported revenue increases of 9.6% and 8% respectively [4] - Kering's revenue decreased by 5%, but the decline has narrowed significantly [4] - Several brands noted a recovery in the Chinese market, particularly during the National Day holiday sales [4] Market Trends - The high-end consumer market is seeing an influx of Chinese brands, attracting attention from industry giants [7] - Tapestry's executives emphasize the importance of adapting brands to resonate with the values of the current generation [7] - The overlap in consumer demographics between local Chinese brands and international luxury brands is significant, with a 77.3% overlap noted for certain brands [7] Consumer Engagement - Tapestry's executives frequently engage with consumers in various Chinese cities to better understand their preferences [5] - The use of social media platforms like Douyin and Xiaohongshu is highlighted as a means to connect with younger consumers [5] - The competition from emerging Chinese brands is seen as a catalyst for overall market growth and innovation [7]

Core Insights - Bernard Arnault has been intensifying his efforts to strengthen control over LVMH, the luxury goods giant he founded nearly 40 years ago, with significant stock purchases in the past eight months totaling approximately €1.4 billion (around $1.6 billion) [1][2] - The recent stock acquisitions occurred during a period of weak corporate earnings and a downturn in the luxury goods sector, leading to a substantial decline in LVMH's stock price [1][2] - Arnault's stake in LVMH is a significant portion of his wealth, with a reported net worth of $195 billion and a 49% ownership of the company's equity, translating to nearly 65% of voting rights [1][2] Stock Acquisition Details - Arnault has acquired about 2.5 million shares of LVMH, representing approximately 0.5% of the company's total shares, through his family holding company Financière Agache and the publicly traded Christian Dior SE [2][5] - The average purchase price for these shares was around €566, with a notable low of €448 in June, while the stock closed at €612 last week [2][5] - The total amount of shares purchased as of mid-September is significantly higher than in previous years, coinciding with a recent unexpected recovery in sales reported by LVMH [2] Strategic Intent - Analysts suggest that Arnault's aggressive stock purchases may reflect a desire to achieve "absolute majority" control over LVMH, despite already holding nearly two-thirds of the voting rights [5] - The value of Arnault's investments outside of LVMH is relatively small, estimated at around €4 billion, indicating a strong focus on consolidating his position within the luxury sector [5] - Arnault has a history of strategic acquisitions, including a significant transaction in 2017 to simplify ownership structures, which aligns with his long-term vision for LVMH [6][7] Historical Context - The recent stock purchases echo Arnault's previous strategy during the 2008 financial crisis when he acquired LVMH shares at low prices, which later appreciated significantly [7]