In the latest Forbes list of the richest people in the world, both nationally and internationally, we see not only how the great fortunes remain the same, but also that some have increased. This is the case of Amancio Ortega, founder of the Inditex group, who in 2010 was number 9 on the Forbes list with a fortune valued at 25 billion dollars, and today is already in the number 7 position with 31 billion dollars, leaving his former position to the Indian businessman Mukesh Ambani.
Although 2011 was significant due to the major global crisis, the reality of this important sector of society shows the opposite, as the world's multimillionaires have gone from 1,011 in 2010 to 1,210 in 2011. Spanish millionaires have managed to earn 6% more and have 37.7 billion euros, an amount similar to the cut proposed by the government to tackle the deficit. The richest of the rich continue to increase their wealth. This may explain why, in the midst of the economic crisis and the collapse in consumption, the luxury sector in Spain closed the year with sales of 4.5 billion euros, 20% more than last year, a trend that is repeated worldwide.
Important market niche for companies
Manufacturers and distributors of luxury goods have nepal whatsapp data experienced a different reality this year than other businesses. The luxury market has weathered the crisis with flying colours, with great growth and record sales.
Clothing and Cosmetics
The major fashion brands have met all the objectives they had set for the end of the year, even exceeding them. Clothing and accessories have become the most sought-after products in the luxury sector worldwide. According to the latest study carried out by the consultancy firm Bain & Company on the luxury goods market, clothing is experiencing an 8% growth and the forecast for growth in the consumption of perfumes and cosmetics is 3%. The good figures have led companies such as Puig, a perfumery and fashion company, to want to buy Valentino Fashion Group, the Italian luxury fashion brand, after selling some of its mid-range or low-end brands such as Lactovit, Kinesia and Denenes. The strategy is to gain a presence in the luxury brand market where it already has the brands Nina Ricci, Paco Rabanne, Jean Paul Gaultier and Carolina Herrera.
Cars
According to data from the Spanish Association of Automobiles and Trucks, ANFAC, sales of luxury cars have increased by 83% in 2011. In addition, registrations of cars with prices between 60,000 and 100,000 euros have doubled and 2,456 units of the highest range have been sold. The Volkswagen group has consolidated itself last year as the second largest automobile manufacturer in the world, only surpassed by General Motors, managing to sell more than eight million vehicles. For its part, Rolls-Royce has achieved the highest sales volume in its history, with 3,538 units, surpassing its last record in 1978.
Jewelry and Travel
Other products and services such as jewellery and travel have also been on the rise this past year. While Tiffany's, the world's jewellery queen, opened its second store in Spain and saw its sales increase, dozens of small jewellery shops have been forced to close their doors. The same is true of travel. While the average Spaniard has been forced to reduce their travel budget or cancel their holidays, the turnover of Nuba Viajes, the Spanish leader in exclusive travel, has grown by 18%. This is confirmed by the fact that luxury cruises have grown by 20%, although in recent days expectations have been muddied by the shipwreck of one of Costa Cruises' ships. The luxury consumer is increasingly demanding more exclusivity and is not limited to cars, jewellery or clothing, but is also looking for "luxury experiences and experiences", to experience wellness services and exotic travel.
It is not products that are sold, but sensations.
The luxury market has been able to adapt perfectly to the new marketing and sales trends , to offer the customer, along with the product, the sensations that they can perceive. Making their customers feel unique and possessing exclusivity are some of the qualities that have made this sector take off, overcoming the economic barriers imposed by the current crisis, to the detriment of the middle class, which has been reduced, which I consider a handicap for the country's economy.