SGAM_Vortrag_Lasnier de Lavette - FONDS professionell

Why is luxury a core investment?3 - Where will growth come from?[ Luxury & Lifestyle Strategy ] The growth of the Chinese customers will be a key factor for the sector.% sales by nationality302520151050262422222006 2014232018136 734 51 1 21 2Others Korea Europe USA Japan Middle-East India Russia ChinaSource : Merril Lynch Luxury Goods Team But also.Russia (the second largest population of billionaires after the US / 88.000 HNWI in 2004 / 36Russian billionaires possess financial wealth of USD 110bn / A “nouveaux riches” population of around3 million people)and India (70.000 HNWI in 2004/ The biggest gold jewelry market in the world)By 2014, Chinese, Russian and Indian should account for 32% (vs. 20% in 2006)January 08Société Générale Asset Management10