Italian fashion houses including Giorgio Armani SpA and Valentino Fashion Group SpA, which have traditionally spurned the Internet, are testing Web stores this holiday season in a quest for new sources of revenue.
The worst recession since World War II and Italian acceptance of Internet buying — even for big-ticket items — is sparking greater use of Web shops in the luxury-goods industry. Designer Roberto Cavalli and shoemaker Salvatore Ferragamo SpA have both opened e-stores in the past five weeks.
“I expect a significant boom in online luxury sales during the Christmas period,” said Alessandro Perego, a professor in charge of research on e-commerce at Milan Politecnico’s School of Management. “In the past year the number of Web sites has increased substantially. I expect growth rates in 2010 to match or beat this year’s.”
Younger, more Internet-savvy consumers and “luxury shame” that’s causing customers to shun boutiques are contributing to a boom in online fashion sales. Web sales of Italian luxury goods are expected to soar 42 percent to 335 million euros ($500 million) this year, according to a study by Politecnico. That beats a 6 percent decline to 3.48 billion euros for the overall industry in a survey by fashion consultant Carlo Pambianco.
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