The Zhitong Finance App learned that Hong Kong luxury goods stocks were mostly higher in early trading. As of press release, Prada (01913) rose 5.58% to HK$54.9; Guancheng Watch & Jewelry (00256) rose 1.83% to HK$1.11; Jingfu Group (00280) rose 1.04% to HK$0.485; and Chow Tai Fu (01929) rose 0.44% to HK$13.66.
According to the news, recently, Bain and Altagamma, the Italian luxury goods manufacturer industry association, jointly released the “Spring Luxury Global Market Research”. The report pointed out that despite the uncertain economic situation, the personal luxury goods market is expected to grow by 5-12% in 2023 after setting a record in 2022; it also predicts that by 2030, the market size may reach 530 billion to 570 billion euros, more than double the size in 2020.
According to reports, Prada's first-quarter revenue was 1,065 million euros, up 22% year on year; Hermès achieved sales of 3.38 billion euros in the first quarter, up 23% year on year; global sales of LVMH in the first quarter were 21 billion euros, up 17% year on year; and the retail value of Hong Kong jewelry giant Chow Tai ?$#@$ in the first quarter also increased 14.2% year on year.