{"id":285334,"date":"2025-07-30T22:37:14","date_gmt":"2025-07-30T22:37:14","guid":{"rendered":"https:\/\/www.europesays.com\/fr\/285334\/"},"modified":"2025-07-30T22:37:14","modified_gmt":"2025-07-30T22:37:14","slug":"marche-chinois-guerre-commerciale-incertitudes-le-ralentissement-du-luxe-bouscule-la-hierarchie-des-geants-du-secteur","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/fr\/285334\/","title":{"rendered":"March\u00e9 chinois, guerre commerciale, incertitudes… Le ralentissement du luxe bouscule la hi\u00e9rarchie des g\u00e9ants du secteur"},"content":{"rendered":"

D\u00c9CRYPTAGE<\/strong> – Le march\u00e9 est attendu en baisse de 2% \u00e0 5% en 2025. Les entreprises se mettent en ordre de marche pour pr\u00e9server leurs positions\u2026 et leurs marges.<\/p>\n

Herm\u00e8s<\/a>\u00a0ne ren\u00e2cle devant aucun des obstacles, de plus en plus nombreux \u00e0 se dresser face aux acteurs du luxe depuis 18\u00a0mois. Au premier semestre,\u00a0les ventes du sellier ont encore augment\u00e9 de 8\u00a0%, \u00e0 8\u00a0milliards d\u2019euros.<\/a>\u00a0Certes, la croissance est deux fois moindre que celle enregistr\u00e9e l\u2019an dernier (+\u00a015\u00a0%). Mais elle reste tr\u00e8s largement sup\u00e9rieure \u00e0 celle du march\u00e9 du luxe, attendu en recul de 2\u00a0% \u00e0 5\u00a0% cette ann\u00e9e.<\/p>\n

Sa capacit\u00e9 \u00e0 r\u00e9percuter ses hausses de co\u00fbt dans ses prix lui a permis d\u2019augmenter son r\u00e9sultat op\u00e9rationnel courant de 6\u00a0%, \u00e0 3,3\u00a0milliards. Ce \u00ab\u00a0pricing power\u00a0\u00bb lui permet de pr\u00e9server sa marge op\u00e9rationnelle semestrielle, la plus \u00e9lev\u00e9e du secteur, \u00e0 41,4\u00a0%. Des r\u00e9sultats qualifi\u00e9s de \u00ab\u00a0robustes\u00a0\u00bb par le sellier, qui souligne \u00ab\u00a0un contexte \u00e9conomique et g\u00e9opolitique plus incertain\u00a0\u00bb, marqu\u00e9 par \u00ab\u00a0les incertitudes \u00e9conomiques, g\u00e9opolitiques et mon\u00e9taires dans le monde\u00a0\u00bb.<\/p>\n

Avec\u00a0le coup d\u2019arr\u00eat du march\u00e9 chinois<\/a>,\u00a0la guerre commerciale<\/a>\u00a0et le ralentissement \u00e9conomique\u2026<\/p>\n

\n Cet article est r\u00e9serv\u00e9 aux abonn\u00e9s. Il vous reste 85% \u00e0 d\u00e9couvrir.\n <\/p>\n

\"Le<\/p>\n

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