中国经济放缓正在扼杀奢侈品市场？

周大福珠宝

*     Chow Tai Fook Jewellery Group, the world's largest publicly traded jewelry chain, reported its first half of the year profit plunged 42 percent.
*     The Hong Kong-based conglomerate has 2,000 jewelry retail outlets in mainland China and a presence in several other countries.
*     Macau Daily Times noted Chow Tai's profit was hurt by "weak demand" in Hong Kong and Macau and an economic slowdown in China.

       周大福珠宝集团，是世界上最大的已经上市的的纯珠宝商，其上半年利润暴跌42%。

       周大福珠宝集团拥有2000家中国内地的珠宝零售店及其他一些国家的珠宝零售店。

      澳门日报报道称，澳门和香港的“需求疲软”和中国经济增速放缓，周大福珠宝集团的利润受到了影响。

周大福珠宝

许多投资者也许不熟悉周大福珠宝集团，但事实上它是世界上市值最大的纯珠宝商。

澳门日报报道称，由于香港和澳门需求疲软，以及中国内地经济增速放缓，周大福上半年利润为2015骤降42%。

截至九月的前6个月，周大福的销售净收入下跌至1.56亿港元（2010万美元）。而在一年前，该公司的同期销售净收入为2.69亿港元。六个月期销售额同比下降4.1%，至2.81亿港元，而同店销售额下跌百分之18%，而中国大陆则下跌0.1%。

该公司早在十一月已经提醒投资者，由于在香港和澳门市场的疲软和下滑，以及不利的销售组合的毛利率较低的黄金产品亏损；可能达不到预期利润。

Many investors are unfamiliar with the Chow Tai Fook Jewellery Group, but it is in fact the world's largest publicly traded jewelry chain.

The company reported its first half profit for 2015 plunged 42 percent due to weak demand in Hong Kong and Macau and an economic slowdown, Macau Daily Times noted.

Chow Tai Fook's net income fell to HK$1.56 billion ($201 million) for the six-month period ending in September. In the same period a year ago, the company's net income was HK$2.69 billion. Sales for the six-month period fell 4.1 percent from a year ago to HK$28.1 billion, while same-store sales fell 18 percent in Hong Kong and Macau, but rose 0.1 percent in mainland China.

The company warned investors back in early November that its profits are expected to decline due to the weakness in Hong Kong and Macau, along with an unfavorable sales mix of lower-margin gold products and unrealized hedging losses.

Tiffany & Co.

Tiffany获胜的市场，周大福惨败？

Tiffany & Co.本周二报告了其第三季度业绩。

对亚太地区的业绩，Tiffany公司表示，第三季度总销售额增长6%，可比店面销售额增长了2%；总销售额及可比店面销售额同比分别上升6%和4%。

按固定汇率计算，Tiffany表示“尽管香港和澳门地区销售再次出现下降，中国地区的整体销售在健康增长。“

Tiffany & Co.

Tiffany同时还公布了一项总销售额和可比店面在日本的销售增长（按汇率中间价）: 分别增长34%和24%。

据彭博社报道，Tiffany在日本获得的显著增长，是因为其抢吃了“周大福的早餐”——经验丰富的Tiffany抢先赢得了中国游客。

彭博社同时还指出，中国本土品牌在中国消费者的心目中没有“特别好”的品牌信誉（中国消费者更倾向于选择国际奢侈大牌   - 译者注），这也可解释为什么Tiffany取得成功的地区而周大福却被冷落。

Is Tiffany Winning Where Chow Tai Fook Is Failing?

Is Tiffany Winning Where Chow Tai Fook Is Failing?

Tiffany & Co. reported its third quarter results on Tuesday. Commenting on the Asia-Pacific region, the company said that total sales rose 6 percent in the third quarter and comparable store sales rose 2 percent. Total sales and

comparable store sales in the year-to-date period rose 6 percent and 4 percent, respectively.

On a constant-exchange-rate basis, Tiffany said that it saw "healthy sales growth" in China, but sales declined again in Hong Kong and Macau.

Tiffany also announced a total sales and comparable store sales growth in Japan of (FX-neutral) of 34 percent and 24 percent, respectively. According to a report by Bloomberg, Tiffany is "eating Chow Tai Fook's breakfast" as Chinese tourists accounted for a "significant" portion of the growth Tiffany experienced in Japan.

Bloomberg also noted that Chinese goods don't have a "particularly good" reputation among Chinese shoppers, which might also explain why Tiffany is seeing success in a region where Chow Tai Fook "should be cleaning up."

 【风尚中国 编译/阿荣    文章来源：LuxurySociety.com】