LVMH公司財(cái)務(wù)分析與發(fā)展戰(zhàn)略研究
發(fā)布時(shí)間：2018-07-26 11:44
【摘要】：LVMH集團(tuán)是奢侈品行業(yè)的傳奇。自合并誕生以來(lái),公司主導(dǎo)了奢侈品行業(yè)的并購(gòu)史,成為涵蓋幾乎所有主要細(xì)分行業(yè)的全球奢侈品巨頭,同時(shí)創(chuàng)造了“LV整合法則”,令眾多原本陷入困境的奢侈品品牌獲得重生。LVMH模式究竟隱藏著怎樣的魔力?本文是關(guān)于LVMH的財(cái)務(wù)分析和發(fā)展戰(zhàn)略研究。文章重點(diǎn)是對(duì)公司過(guò)往的發(fā)展戰(zhàn)略進(jìn)行研究,對(duì)財(cái)務(wù)數(shù)據(jù)、財(cái)務(wù)績(jī)效和財(cái)務(wù)政策進(jìn)行剖析。以此為基礎(chǔ),再分析公司現(xiàn)有問(wèn)題,力圖能夠?yàn)槠髽I(yè)發(fā)展戰(zhàn)略提出切實(shí)可行的建議。 本文結(jié)構(gòu)分為五個(gè)章節(jié)。第一章為研究概述。包括研究背景；研究主題和意義；研究框架。第二章為外部環(huán)境分析,利用PEST模型來(lái)解釋奢侈品行業(yè)的主要驅(qū)動(dòng)因素；利用波特五力模型分析行業(yè)競(jìng)爭(zhēng)力量強(qiáng)度；采用公司層和業(yè)務(wù)層兩個(gè)維度的戰(zhàn)略群組進(jìn)行競(jìng)爭(zhēng)環(huán)境比較分析。第三章主要分析LVMH過(guò)去實(shí)施的并購(gòu)與運(yùn)營(yíng)戰(zhàn)略。在第四章,本文對(duì)LVMH的財(cái)務(wù)指標(biāo)體系和財(cái)務(wù)報(bào)表結(jié)構(gòu)進(jìn)行分析,并對(duì)公司的財(cái)務(wù)政策提出建議。具體的研究?jī)?nèi)容包括盈利能力、資產(chǎn)使用效率、資產(chǎn)流動(dòng)性、債務(wù)管理能力、現(xiàn)金創(chuàng)造能力、資本市場(chǎng)表現(xiàn)、價(jià)值創(chuàng)造能力和增長(zhǎng)能力的歷史與構(gòu)成比較分析。并對(duì)公司最近10年的利潤(rùn)表、資產(chǎn)負(fù)債表和現(xiàn)金流量表做財(cái)務(wù)報(bào)表結(jié)構(gòu)的三維分析。第五章,分析行業(yè)發(fā)展趨勢(shì)和公司面臨的問(wèn)題,對(duì)LVMH將來(lái)的發(fā)展戰(zhàn)略給出一些意見(jiàn)。 通過(guò)對(duì)LVMH的發(fā)展戰(zhàn)略和財(cái)務(wù)分析研究,本文認(rèn)為公司過(guò)往實(shí)施的收購(gòu)策略與品牌整合策略是非常成功的。主要表現(xiàn)在近年來(lái)不斷攀升的行業(yè)地位與良好的財(cái)務(wù)數(shù)據(jù)上。但是行業(yè)發(fā)展趨勢(shì)不是一層不變,近一兩年來(lái)公司面臨了許多新的挑戰(zhàn),品牌價(jià)值下降、發(fā)展速度變慢,未來(lái)的前景充滿了不確定性。因此我們認(rèn)為L(zhǎng)VMH需持續(xù)并購(gòu),同時(shí)改變?cè)谌A策略,以維護(hù)LVMH的品牌戰(zhàn)略。
[Abstract]:LVMH Group is the legend of the luxury goods industry. Since the birth of the merger, the company has dominated the history of mergers and acquisitions in the luxury goods industry, becoming a global luxury giant covering almost all major segments of the industry and creating the LV Integration Rule. What kind of magic does the rebirth. LVMH model have hidden in the many luxury brands that have fallen into trouble? This article is about the LVMH financial analysis and the development strategy research. This paper focuses on the company's past development strategy, financial data, financial performance and financial policy analysis. On the basis of this, this paper analyzes the existing problems of the company and tries to put forward practical suggestions for the development strategy of the enterprise. The structure of this paper is divided into five chapters. The first chapter is an overview of the research. Including the research background; research theme and significance; research framework. The second chapter is the analysis of the external environment, using the PEST model to explain the main driving factors of the luxury industry, using the Porter five-force model to analyze the competitive strength of the industry. Comparative analysis of competitive environment is carried out by strategic groups with two dimensions of company level and business level. The third chapter mainly analyzes the M & A and operation strategy of LVMH in the past. In the fourth chapter, this paper analyzes the financial index system and financial statement structure of LVMH, and puts forward some suggestions on the financial policy of the company. The specific research contents include: profitability, asset utilization efficiency, asset liquidity, debt management ability, cash creation ability, capital market performance, value creation ability and growth ability. Three-dimensional analysis of the company's profit statement, balance sheet and cash flow statement of the last 10 years is made. The fifth chapter analyzes the development trend of the industry and the problems faced by the company, and gives some suggestions on the development strategy of LVMH in the future. Through the development strategy and financial analysis of LVMH, this paper holds that the acquisition strategy and brand integration strategy implemented by the company in the past are very successful. Mainly in recent years in the rising status of the industry and good financial data. But the industry development trend is not a layer unchanged, the company has faced many new challenges in recent years, the brand value decline, the development speed becomes slower, the future prospect is full of uncertainty. Therefore, we believe that LVMH needs to continue M & A and change its strategy in China in order to maintain LVMH's brand strategy.
【學(xué)位授予單位】：廈門大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F231.1;F275
本文編號(hào)：2145902
[Abstract]:LVMH Group is the legend of the luxury goods industry. Since the birth of the merger, the company has dominated the history of mergers and acquisitions in the luxury goods industry, becoming a global luxury giant covering almost all major segments of the industry and creating the LV Integration Rule. What kind of magic does the rebirth. LVMH model have hidden in the many luxury brands that have fallen into trouble? This article is about the LVMH financial analysis and the development strategy research. This paper focuses on the company's past development strategy, financial data, financial performance and financial policy analysis. On the basis of this, this paper analyzes the existing problems of the company and tries to put forward practical suggestions for the development strategy of the enterprise. The structure of this paper is divided into five chapters. The first chapter is an overview of the research. Including the research background; research theme and significance; research framework. The second chapter is the analysis of the external environment, using the PEST model to explain the main driving factors of the luxury industry, using the Porter five-force model to analyze the competitive strength of the industry. Comparative analysis of competitive environment is carried out by strategic groups with two dimensions of company level and business level. The third chapter mainly analyzes the M & A and operation strategy of LVMH in the past. In the fourth chapter, this paper analyzes the financial index system and financial statement structure of LVMH, and puts forward some suggestions on the financial policy of the company. The specific research contents include: profitability, asset utilization efficiency, asset liquidity, debt management ability, cash creation ability, capital market performance, value creation ability and growth ability. Three-dimensional analysis of the company's profit statement, balance sheet and cash flow statement of the last 10 years is made. The fifth chapter analyzes the development trend of the industry and the problems faced by the company, and gives some suggestions on the development strategy of LVMH in the future. Through the development strategy and financial analysis of LVMH, this paper holds that the acquisition strategy and brand integration strategy implemented by the company in the past are very successful. Mainly in recent years in the rising status of the industry and good financial data. But the industry development trend is not a layer unchanged, the company has faced many new challenges in recent years, the brand value decline, the development speed becomes slower, the future prospect is full of uncertainty. Therefore, we believe that LVMH needs to continue M & A and change its strategy in China in order to maintain LVMH's brand strategy.
【學(xué)位授予單位】：廈門大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F231.1;F275
【參考文獻(xiàn)】
相關(guān)期刊論文 前1條
1 Michel Chevalier;Gerald Mazzalovo;;奢侈品品牌管理:一個(gè)特權(quán)的世界[J];新?tīng)I(yíng)銷;2012年10期
，本文編號(hào)：2145902
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