Deshima weekly catch is a weekly publication which focus on news of interest related to international companies in technology, consumption and luxury. Deshima seeks to catch interesting company and industry news and announcements when we think they could impact investor perception and market sentiment.
Luxury Goods, Airline Traffic, Technology and Siemens Energy
Luxury goods:
Share prices of global luxury brands jumped last week after Beijing announced it would loosen travel restrictions from Jan 8. However, luxury brands warn they are unlikely to see an immediate return to pre-pandemic levels of Chinese traveler. Just as importantly, big luxury brands are now investing more in the shopping experience in China. Under pandemic travel curbs, China's domestic luxury sales boomed, doubling to 471 billion yuan ($68.25 billion) from 2019 to 2021, according to Bain & Co. Even so, Chinese consumers' share of the global luxury market fell to 21% in 2021 from 25% in 2019 and some catch-up recovery is expected in 2023 on or offshore.
Airline traffic:
Ryanair announced December 2022 passenger numbers 20% above consensus and revised 30% up its earnings projections for 2023
Financial discipline in technology:
Salesforce announced a 10% reduction in their workforce. Amazon is going to fire 18,000 employees. After years of aggressive investment with a steep post-covid acceleration, big tech seems to re-discover financial disciplines.
Siemens Energy:
Siemens Energy and Spain's Dragados Offshore have been awarded a contract worth more than 4 billion euros ($4.29 billion) to build two converter systems for offshore wind energy grid connections in Germany. Siemens Energy said the contract, which was awarded to the consortium by German transmission system operator Amprion, is the largest offshore grid connection order it has received to date.
RCS Paris 314 503 996
Adhérent CNCIF D0190052
Enregistrement ORIAS 19001656