1lecture3.doc

Lecture 3 How the ‘fast fashion’ brands are out-performing luxury Jude Woodward 快速时尚品牌是如何远超奢侈品牌的？ 1. The most successful fashion companies Slide There are three successful models for contemporary global high value added fashion brands 当代全球高端时尚品牌的三类成功的模型/典型 Luxury fashion – Dior, Chanel, Prada… Retail or ‘fast’ fashion – Zara, Gap, HM… Fashion sportswear – Nike, Adidas, Reebok… 时尚运动装耐克、阿迪达斯、锐步 Going to look at high value added retail fashion and make some comparisons with luxury 去看看高端零售时尚品牌，并和奢侈品牌做一些比较 Slide ‘Luxury’ fashion – Dior, Chanel, Prada, Hermes etc 爱马仕 Slide ‘High St’ fashion – Zara, HM, Mango, Topshop If we take an extremely successful example of each of these we see some surprising facts 如果我们其中的任何一个作为一个非常成功的例子,些事实就会使我们感到惊奇。 Slide Dior – a classic luxury brand and Zara – the most successful retail fashion brand 迪奥-经典奢侈品牌和Zara-最成功的零售时尚品牌 Both are successful Both are global brands, both present in China.都是国际品牌,它们已经进驻中国。 It might be assumed that because luxury companies can command the highest prices, that they must have the highest profit margins. 人们很可能会认为是因为奢侈品，价位最高,他们理应收益最高。 Is this the case? 情况是这样吗？这是事实吗 Slide with flyins The luxury brand Dior has Revenues $38.6bn 奢侈品牌迪奥年收益386亿美元 The ‘High St’ fashion brand Zara has Revenues $14.6bn 高街时尚品牌Zara年收益达146亿美元 But Dior’s profits are only $1.8bn 但迪奥年代利润只有18亿美元 Whereas Zara profits $2.7bn 而Zara利润27亿美元 2 slides of table and graph NEED A SLLIDE PLUS INFO ON PRICES Dior has the higher prices, but which is really more successful?迪奥品牌价位高的价格,但那个是真正的赢家。 Slide with flyins Dior Every dollar revenue generates 5 cents in profit 迪奥的收益率为5% Zara Every dollar revenue generates 18 cents in profit Zara的每一美元收入获得18美分的利润 In other words, the Zara type of ‘High St fashion’ retailer is more profitable than luxury even though its prices are lower 换句话说, Zara类型的“高街时尚的零售商比奢侈品牌盈利更多，尽管其价格要便宜的多，。 This is for two reasons. Luxury fashion commands higher prices, but has a low rate of re