Five Spanish Companies in the World Top-100
According to the new edition of the Global Powers of Luxury Goods’ report by Deloitte, five Spanish companies are among the 100 most important luxury companies in the world.
The first and therefore the most important Spanish company of the ranking is perfume´s Puig Group, which operates brands like Nina Ricci, Carolina Herrera and Paco Rabanne and clothing Jean Paul Gaultier. Puig, with annual revenues over €1.5 billion, is at the 28th place in the ranking.
After Puig, at a great distance, Galician textil company Lonia, which was founded by Adolfo Dominguez´s brothers when they left the company. Lonia operates brands like Carolina Herrera or Purification Garcia, among others. It is ranked 69th, according to the report.
The other three companies in the top 100 are Tous, the jewelery and accessories company, at 74th; Festina watches are at the 81th and finally San Patrick, the wedding dresses designer from Barcelona, which stands at 83th.
The ranking made by Deloitte also shown other interest data. First, the top positions are dominated by European companies, especially French. LVMH leads the ranking one more year, followed by Swiss Richemont and French Estee Lauder. Within the ranking of the top 10 also are included Italian Luxottica (5th), Swiss The Swatch Group (6th), French Kering (7th) and L’Oreal (8th). That means that Europe holds 7 brands among the top 10 in the world.
The second trend, consolidating what we have seen in the last year is the strong growth of Chinese companies in the luxury industry. The report estimates that luxury companies of the Asian giant grew an average of 33% to sum up combined sales of more than €200 billion. This increase can be compared to the average growth of the top-100, around 8% … A huge difference.
The best example of this growing importance of China is the entrance to a Chinese company in the top 10 for the first time ever. The jewelry company Chow Tai Fook Jewellery Group is the fourth company worldwide with a turnover of nearly €10 billion, beating well established myths as Kering.