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Luxury's Perfect Storm in Asia-Pacific: Your Survival Guide


The luxury sector in Asia-Pacific is facing unprecedented challenges as the region grapples with an economic slowdown.


  • According to a report by Bain & Company, the luxury market in mainland China declined by 12% in Q4 2023

  • The market in Hong Kong dropped by 20% in Q1 2024

  • Declining sales, reduced revenue, and a diminished demand for top talent have left many companies struggling to stay afloat


However, with the right strategies and mindset, businesses and professionals can weather this storm and emerge stronger than ever.


For HR departments and companies, the key is to focus on core strengths and adapt to the changing landscape:

  • Refocus on key markets and customers

  • Streamline product ranges

  • Invest in the development of existing talent through training and upskilling programs, e.g. Kering, the French luxury group, has announced plans to invest over $200 million in sustainability initiatives and digital innovation in Q1 2024

  • Foster a culture of creativity and agility to navigate the challenges ahead

  • Communicate transparently with teams


Candidates, too, have a role to play in this new reality:

  • Stay sharp and up-to-date with industry trends

  • Pursue additional training or certifications

  • Take on new responsibilities within your current role, for example, a product manager in the luxury sector could consider attending a conference on artificial intelligence and its applications in the industry in Q4 2023

  • Build and maintain a strong professional network

  • Cultivate a strong personal brand that highlights your unique value proposition

  • Be flexible and open when seeking new opportunities

  • Consider roles or industries you may not have previously

  • Highlight your adaptability and resilience in the face of change


At Trouvé Executive, we understand the challenges facing the luxury sector in Asia-Pacific. As a leading executive search and selection firm, we are committed to supporting our clients and candidates through this difficult time. Our team of experienced consultants is here to provide guidance, insights, and opportunities to help you thrive in the face of adversity


We believe that by working together and supporting one another, we can create a brighter future for the luxury sector in Asia-Pacific. Whether you're a company looking to build a stronger team, or a candidate seeking your next opportunity, we invite you to connect with us to explore how we can help you achieve your goals.


If you found this article valuable, please like, share, and comment below. And for more insights and opportunities in the luxury sector, visit our website at www.trouve-executive.com.


Together, we can navigate this storm and emerge stronger than ever.


亞太區奢侈品行業的完美風暴:你的生存指南


亞太區的奢侈品行業正面臨著前所未有的挑戰,整個地區正在努力應對經濟放緩的問題。


  • 根據 Bain & Company 的一份報告,2023 年第四季度中國大陸的奢侈品市場下降 12%

  • 2024 年第一季度香港市場下降 20%

  • 銷售額下降、收入減少以及對高端人才需求的減弱,令許多公司陷入困境


然而,只要採取正確的策略和心態,企業和專業人士就能夠渡過難關,變得更強大。


對於人力資源部門和公司來說,關鍵是要專注核心優勢並適應不斷變化的環境:

  • 重新聚焦關鍵市場和客戶

  • 精簡產品系列

  • 通過培訓和提升技能來投資發展現有人才

  • 例子:法國奢侈品集團開雲集團宣佈計劃在 2024 年第一季度投資超過 2 億美元於可持續發展項目和數碼創新

  • 營造一種創意和靈活的文化,以應對未來的挑戰

  • 與團隊保持透明溝通


求職者在這個新的現實中也要發揮作用:

  • 緊貼行業趨勢,保持敏銳

  • 尋求額外的培訓或認證

  • 在目前的工作崗位上承擔新的職責

  • 建立並維護強大的專業人脈網絡

  • 培養強大的個人品牌,突出你獨特的價值主張

  • 在尋找新機會時要靈活開放

  • 考慮以前可能沒有考慮過的職位或行業

  • 強調你面對變革時的適應力和韌性


在 Trouvé Executive,我們深知亞太區奢侈品行業所面臨的挑戰。作為一家領先的高管搜尋和甄選公司,我們致力於在這個艱難時期為客戶和候選人提供支持。我們經驗豐富的顧問團隊隨時為你提供指導、見解和機會,助你在逆境中茁壯成長。


我們相信,通過共同努力和相互支持,我們可以為亞太區的奢侈品行業創造一個更加光明的未來。無論你是希望建立更強大團隊的公司,還是正在尋找下一個機會的候選人,我們都誠邀你與我們聯繫,共同探討我們如何實現目標。


如果你覺得這篇文章有價值,請點讚、分享並在下方留言。想獲得更多關於奢侈品行業的見解和機會,歡迎瀏覽我們的網站:www.trouve-executive.com。


讓我們攜手共渡難關,變得更強大!


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