Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<ul><li>Apparel accessories records current value growth of 7% in 2017, to reach CNY180 billion</li><li>Trendy design and customisation are increasing to satisfy diversified consumer needs</li><li>Scarves registers the highest current value growth in 2017, of 8%</li><li>LVMH Moët Hennessy Louis Vuitton SA takes the leading position in the fragmented apparel accessories category in 2017, with a value share of 1%</li><li>Apparel accessories to record a value CAGR of 4% at constant 2017 prices over the forecast period, to reach CNY219 billion in 2022</li></ul>

Apparel accessories records current value growth of 7% in 2017, to reach CNY180 billionTrendy design and customisation are increasing to satisfy diversified consumer needsScarves registers the highest current value growth in 2017, of 8%LVMH Moët Hennessy Louis Vuitton SA takes the leading position in the fragmented apparel accessories category in 2017, with a value share of 1%Apparel accessories to record a value CAGR of 4% at constant 2017 prices over the forecast period, to reach CNY219 billion in 2022

Sector Capsule: Apparel Accessories in China

<ul><li>Fine wines/champagne and spirits posts current value growth of 5% to reach EUR2.2 billion in 2017</li><li>Category benefits from the “drink less but better” attitude and the ongoing trend for cocktails</li><li>Growing by 11% in current value terms in 2017, other luxury spirits enjoys success of luxury gin and rum</li><li>Pernod SA leads a fragmented competitive environment in 2016 with a 5% value share</li><li>Fine wines/champagne and spirits should forge ahead, with a value CAGR of 2% at constant 2017 prices over the forecast period</li></ul>

Fine wines/champagne and spirits posts current value growth of 5% to reach EUR2.2 billion in 2017Category benefits from the “drink less but better” attitude and the ongoing trend for cocktailsGrowing by 11% in current value terms in 2017, other luxury spirits enjoys success of luxury gin and rumPernod SA leads a fragmented competitive environment in 2016 with a 5% value shareFine wines/champagne and spirits should forge ahead, with a value CAGR of 2% at constant 2017 prices over the forecast period

Sector Capsule: Fine Wines/Champagne and Spirits in France

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Overwhelmingly, and to take a line from our U.S. Compass report, recent declines have corrected the excess. Where many charts appeared stretched and even parabolic in some cases, recent downward pressure on global equities has allowed many stocks to return to solid entry points near various areas of support. In today’s report we review every global sector, highlighting actionable stocks within each.

Overwhelmingly, and to take a line from our U.S. Compass report, recent declines have corrected the excess. Where many charts appeared stretched and even parabolic in some cases, recent downward pressure on global equities has allowed many stocks to return to solid entry points near various areas of support. In today’s report we review every global sector, highlighting actionable stocks within each.

MSCI Emerging Markets Index / Technical Analysis

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and EM, one indicator in particular keeps us optimistic: monthly charts.  What is clear right now is: (1) Europe is on the doorstep of breaking above secular resistance; (2) Japan is breaking out above secular resistance; (3) and EM already has. Speaking of EM, we view this as the place to be, or overweight, in 2018. The EM/EAFE’s 20-year chart (below) reveals an in-progress trend reversal (which developed at a secular trendline) in favor of EM.In today’s report we review every global sector, highlighting actionable stocks within each.

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and EM, one indicator in particular keeps us optimistic: monthly charts.  What is clear right now is: (1) Europe is on the doorstep of breaking above secular resistance; (2) Japan is breaking out above secular resistance; (3) and EM already has. Speaking of EM, we view this as the place to be, or overweight, in 2018. The EM/EAFE’s 20-year chart (below) reveals an in-progress trend reversal (which developed at a secular trendline) in favor of EM.In today’s report we review every global sector, highlighting actionable stocks within each.

<ul><li>Slow recovery of personal accessories in Hong Kong as Chinese tourists return</li><li>Fine jewellery players continue to lead personal accessories in Hong Kong</li><li>Internet retailing grows in Hong Kong but specialist stores remains the key channel</li><li>Jewellery will continue to drive growth of personal accessories in the forecast period</li></ul>

Slow recovery of personal accessories in Hong Kong as Chinese tourists returnFine jewellery players continue to lead personal accessories in Hong KongInternet retailing grows in Hong Kong but specialist stores remains the key channelJewellery will continue to drive growth of personal accessories in the forecast period

France

LVMH Moet Hennessy Louis Vuitton SE is a diversified luxury goods group. The Company produces and sells wine, cognac, perfumes, cosmetics, luggage, and watches and jewelry.

LVMH Moet Hennessy Louis Vuitton SE (MC FP)

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LVMH Moet Hennessy Louis Vuitton SE (MC FP)

Sector Capsule: Apparel Accessories in China

Apparel accessories records current value growth of 7% in 2017, to reach CNY180 billion Trendy design and customisation are increasing to satisfy...

Euromonitor International Ltd.

Sector Capsule: Fine Wines/Champagne and Spirits in France

Fine wines/champagne and spirits posts current value growth of 5% to reach EUR2.2 billion in 2017 Category benefits from the “drink less but...

Euromonitor International Ltd.

Global Equity Strategy

Overwhelmingly, and to take a line from our U.S. Compass report, recent declines have corrected the excess. Where many charts appeared stretched...

Vermilion Research

Global Equity Strategy: Overweight EM

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and...

Vermilion Research

Personal Accessories in Hong Kong, China

Slow recovery of personal accessories in Hong Kong as Chinese tourists return Fine jewellery players continue to...

Euromonitor International Ltd.

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