Word: telsey
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...years the luxury sector, now a $140 billion business growing at approximately 7% a year, according to the Telsey Advisory Group (TAG), an independent research firm based in Manhattan, has been populated by a handful of familiar faces: Bernard Arnault of LVMH, François-Henri Pinault of PPR and the odd manager of Gucci or president of Chanel. But cash-rich private-equity firms have taken note of the impressive numbers those companies are posting. Gross profit margins for apparel are 50%, and for leather goods they can be as high as 77%, according...
...contrast to a year ago when luxury players were desperately searching for signs of recovery after months of falling stock markets and lackluster consumer confidence brought on by the Sept. 11 attacks. "What's happened is there is a necessity for a feel-good factor for luxury," says Dana Telsey, luxury-goods analyst for Bear Stearns. "With the improvement in the environment, especially after SARS and the war in Iraq, the demand for better products is expanding to all different levels--from the superpremium, like private jets and resort residences, to the accessible Coach...
Awareness of the luxury market has also played a part in the growth. "There is definitely a thirst for higher-end brands because consumers know what quality is, and that's because retailers have taught them how to recognize it," says Telsey. "Now it's about lifestyle--the aesthetic look of the store, the advertising. Everyone wants to be able to live the dream...
...Rothman '36, of New York, N. Y., Samuel B. Salvin '35, of Roxbury, Mass., Herman E. Schroeder '36, of Brooklyn, N. Y., Simon J. Seder '36, of Maynard, Mass., Samuel T. Skidmore, Jr. '35, of New York, N. Y., Hervey L. Smith, Jr. '35, of Springfield, Mass., Herbert G. Telsey '36, of Brooklyn, N. Y., Philip H. Thayer, Jr. '36, of South Harwich, Mass...