Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

Lvmh Moet Hennessy Louis Vuitton / Equity Bottom-Up

<ul>
<li>In this insight, we provide the income statement comparisons of the eight largest global luxury brand Korea operations including Louis Vuitton Korea, Prada Korea, Ralph Lauren Korea, and Moncler Korea.</li>
<li>In 2022, Korea spent $16.8 billion in luxury goods, representing per capita consumption of $325 per person, surpassing the United States ($280 per person) and China ($55 per person). </li>
<li>Luxury brand spending in Korea is often a leading indicator of global luxury brand spending. Luxury brand spending in Korea has been weak this year and this continued in 3Q23.</li>
</ul>


In this insight, we provide the income statement comparisons of the eight largest global luxury brand Korea operations including Louis Vuitton Korea, Prada Korea, Ralph Lauren Korea, and Moncler Korea.
In 2022, Korea spent $16.8 billion in luxury goods, representing per capita consumption of $325 per person, surpassing the United States ($280 per person) and China ($55 per person). 
Luxury brand spending in Korea is often a leading indicator of global luxury brand spending. Luxury brand spending in Korea has been weak this year and this continued in 3Q23.


Income Statement Analysis of Global Luxury Brand Korea Operations and Luxury Brand Spending Slowdown

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Ralph Lauren managed an all-around beat in the last quarter delivering a strong performance that highlights the resilience of its strategy and the adaptability of its teams in a dynamic global environment.</li><li>The quarter witnessed positive revenue growth that surpassed guidance, marking a return to gross margin expansion while effectively managing peak raw material costs.</li><li>The company's commitment to cost discipline enabled a 100 basis point expansion in adjusted operating margin, reaching 13.7%, resulting in a 9% increase in operating profit.</li></ul>

Ralph Lauren managed an all-around beat in the last quarter delivering a strong performance that highlights the resilience of its strategy and the adaptability of its teams in a dynamic global environment.The quarter witnessed positive revenue growth that surpassed guidance, marking a return to gross margin expansion while effectively managing peak raw material costs.The company's commitment to cost discipline enabled a 100 basis point expansion in adjusted operating margin, reaching 13.7%, resulting in a 9% increase in operating profit.

Ralph Lauren Corporation: Exclusive Insight into the Power Moves Driving Positive Revenue! - Major Drivers

Equity Capital Markets

<ul><li>Ralph Lauren delivered an all-around beat in the previous quarter.</li><li>In the fourth quarter, the company's total revenues climbed 9% in constant currency, driven mostly by double-digit growth in Asia.</li><li>Mid-single-digit revenue declines in constant currency were seen in their digital environment.</li></ul>

Ralph Lauren delivered an all-around beat in the previous quarter.In the fourth quarter, the company's total revenues climbed 9% in constant currency, driven mostly by double-digit growth in Asia.Mid-single-digit revenue declines in constant currency were seen in their digital environment.

Ralph Lauren Corporation: Digital Business Is Booming

<ul><li>Ralph Lauren's previous quarter results were strong and the company managed an all-around beat.</li><li>Their top-line continued to increase in the previous quarter, with revenues rising 13% in constant currency and 5% on a reported basis.</li><li>The success for this quarter was once again aided by good constant currency growth across all 3 regions.</li></ul>

Ralph Lauren's previous quarter results were strong and the company managed an all-around beat.Their top-line continued to increase in the previous quarter, with revenues rising 13% in constant currency and 5% on a reported basis.The success for this quarter was once again aided by good constant currency growth across all 3 regions.

Ralph Lauren: Collaboration With Fortnite & Other Developments

<ul><li>Ralph Lauren delivered strong results this quarter surpassing revenue expectations of Wall Street as a result of solid growth across all key regions.</li><li>Ralph delivered solid consumer metrics, which include increased net promoter scores, purchase intent, and global brand consideration through an engaging mix of performance marketing and purpose-led investments.</li><li>We provide the stock of Ralph Lauren with a ‘Hold’ rating and a revision in the target price.</li></ul>

Ralph Lauren delivered strong results this quarter surpassing revenue expectations of Wall Street as a result of solid growth across all key regions.Ralph delivered solid consumer metrics, which include increased net promoter scores, purchase intent, and global brand consideration through an engaging mix of performance marketing and purpose-led investments.We provide the stock of Ralph Lauren with a ‘Hold’ rating and a revision in the target price.

Ralph Lauren: Increased Digital Marketing Efforts

United States

Ralph Lauren Corporation designs, markets, and distributes men's, women's and children's apparel, accessories, fragrances, and home furnishings. The Company's products are sold under a wide range of brands. Ralph Lauren's operations include wholesale, retail, and licensing.

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Ralph Lauren (RL US)

Income Statement Analysis of Global Luxury Brand Korea Operations and Luxury Brand Spending Slowdown

In this insight, we provide income statement comparisons of the eight largest global luxury brand Korea operations including Louis Vuitton Korea,...

Douglas Kim

Ralph Lauren Corporation: Exclusive Insight into the Power Moves Driving Positive Revenue! - Major Drivers

Ralph Lauren managed an all-around beat in the last quarter delivering a strong performance that highlights the resilience of its strategy and the...

Baptista Research

Ralph Lauren Corporation: Digital Business Is Booming

Ralph Lauren delivered an all-around beat in the previous quarter. In the fourth quarter, the company's total revenues climbed 9% in constant...

Baptista Research

Ralph Lauren: Collaboration With Fortnite & Other Developments

Ralph Lauren's previous quarter results were strong and the company managed an all-around beat. Their top-line continued to increase in the...

Baptista Research

Ralph Lauren: Increased Digital Marketing Efforts

Ralph Lauren delivered strong results this quarter surpassing revenue expectations of Wall Street as a result of solid growth across all key...

Baptista Research

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