*FURLA, Michael Kors, COACH, Kate Spade New York, Samantha Thavasa data is taken from the 2016 final accounts report, LONGCHAMP, TORY BURCH data are taken from the previous CEO's announcement
After the financial crisis in 2008, the consumer market became sluggish and luxury brands began to attract the attention of the public. The representative brands were COACH and Michael Kors who had temporarily sold 10 billion yen in Japan. At the time, the best-selling brand was all American-centered. FURLA from Italy was not particularly attention grabbing at the time. Soon after, the consumer market shifted from bags to footwear brands such as Christian Louboutin and Manolo Blanik which are priced at 100,000 yen. In 2017, COACH and Michael Kors’ sales decreased compared to the previous year. Last year, COACH acquired Kate Spade New York. Michael Kors also purchased Jimmy Choo in order to solve its sales problem. As the things heat up, luxury brands have once again stepped into the spotlight and is one of the reasons for the sales decline of these two brands in recent years.
Now that the footwear brand craze have stabilized, it’s not surprising that sales of FURLA is growing in the light of the new rise in affordable luxury markets. The rise of the luxury brand again with the recovery of consumer sentiment also contributed to the slowdown of both brands in recent years.