德勤：奢侈品市场：2018年迎并购热潮欧洲交易量领跑全球（英文版）（40页）.pdf

1、Fashion given that, luxury companies are seeking for digital startup/companies to exploit synergies. Digital penetration will lead to physical disruption; the classical store will inevitably change from point of sales to point of touch. The consensus is that forecast returns will range from 21 to 30

2、%. According to respondents in 2019, 43% will probably invest in disruptive technologies in order to benefit from potential synergies. Internet of Things, Big Data 2) Still pending The analysis considers both closed and announced deals during 2018 Source: Elaboration on Deloitte intelligence data Fa

3、shion 2) Restaurants was not included in last years survey Source: Elaboration on Deloitte survey Expected new investments in 2019 Most attractive sectors for investors (percentage of respondents) Change in 2018-19 (percentage points) 22 Fashion Apparel & Accessories and Selective Retailing industri

4、es are expected to guarantee highest IRR. Key findings On average, funds expect an IRR from their investments ranging from 21% to 30%, while 11% forecast a higher performance (30%). Lower expected rates of return for Watches & Jewellery do not play a major role in investors strategies, due to the lo

5、wer volatility of this segment. Apparel & Accessories and Selective Retailing are expected to guarantee investors a higher IRR. Source: Elaboration on Deloitte survey 9% 73% 18% App & Acc 100% Cos & Fra 18% 73% 9% 100% Total F&L 28% 61% 11% 100% 30%21% - 30%0% - 20%Change in 2018-19 (percentage poin

6、ts) Wat & Jew 40% 40% 20% 100% Sel Ret 10% 65% 25% 100% -1 +1.7 Furniture 25% 62% 13% 100% -0.3 70% 28 Fashion & Luxury Private Equity and Investors Survey 2019 | Private Equity and Investors Survey 2019 Return expected from new investments IRR expected from new F&L investments Breakdown by target c