Narrative Update • Sep 09
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Hong Kong (HSI) Luxury Industry Analysis
UpdatedSep 12, 2026
DataAggregated Company Financials
Companies108
- 7D-3.5%
- 3M-8.2%
- 1Y-22.7%
- YTD-18.9%
Over the last 7 days, the Luxury industry has dropped 3.5%, driven by ANTA Sports Products declining 4.8%. Overall the industry is down 23% in 12 months. As for the next few years, earnings are expected to grow by 6.9% per annum.
Industry Valuation and Performance
Has the Hong Kong Luxury Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 12 Sep 2026 | HK$713.5b | HK$680.5b | HK$66.0b | 8.1x | 10.8x | 1x |
| Mon, 10 Aug 2026 | HK$753.1b | HK$656.7b | HK$58.8b | 8.8x | 12.8x | 1.1x |
| Wed, 08 Jul 2026 | HK$734.5b | HK$650.7b | HK$59.0b | 8.6x | 12.5x | 1.1x |
| Fri, 05 Jun 2026 | HK$771.6b | HK$647.4b | HK$59.3b | 9.2x | 13x | 1.2x |
| Sun, 03 May 2026 | HK$811.7b | HK$645.1b | HK$59.4b | 10.1x | 13.7x | 1.3x |
| Tue, 31 Mar 2026 | HK$807.9b | HK$640.3b | HK$59.3b | 9.3x | 13.6x | 1.3x |
| Thu, 26 Feb 2026 | HK$939.8b | HK$625.0b | HK$57.2b | 10.6x | 16.4x | 1.5x |
| Sat, 24 Jan 2026 | HK$903.5b | HK$618.9b | HK$56.4b | 9.9x | 16x | 1.5x |
| Mon, 22 Dec 2025 | HK$893.3b | HK$614.0b | HK$55.9b | 10.5x | 16x | 1.5x |
| Wed, 19 Nov 2025 | HK$898.2b | HK$610.9b | HK$55.2b | 10.2x | 16.3x | 1.5x |
| Fri, 17 Oct 2025 | HK$911.8b | HK$610.8b | HK$55.3b | 9.5x | 16.5x | 1.5x |
| Sun, 14 Sep 2025 | HK$912.5b | HK$611.2b | HK$55.5b | 10.1x | 16.4x | 1.5x |
| Tue, 12 Aug 2025 | HK$872.3b | HK$595.8b | HK$54.4b | 10.5x | 16x | 1.5x |
| Thu, 10 Jul 2025 | HK$937.6b | HK$594.5b | HK$54.4b | 9.5x | 17.2x | 1.6x |
| Sat, 07 Jun 2025 | HK$904.1b | HK$591.8b | HK$53.3b | 9.5x | 17x | 1.5x |
| Mon, 05 May 2025 | HK$851.4b | HK$582.0b | HK$52.7b | 9x | 16.2x | 1.5x |
| Wed, 02 Apr 2025 | HK$895.4b | HK$581.8b | HK$52.7b | 9.9x | 17x | 1.5x |
| Fri, 28 Feb 2025 | HK$897.8b | HK$566.1b | HK$48.6b | 10.3x | 18.5x | 1.6x |
| Sun, 26 Jan 2025 | HK$830.0b | HK$567.6b | HK$48.9b | 9.8x | 17x | 1.5x |
| Tue, 24 Dec 2024 | HK$811.1b | HK$564.0b | HK$48.5b | 9.7x | 16.7x | 1.4x |
| Thu, 21 Nov 2024 | HK$794.2b | HK$542.9b | HK$47.9b | 8.4x | 16.6x | 1.5x |
| Sat, 19 Oct 2024 | HK$810.7b | HK$547.1b | HK$48.1b | 9.1x | 16.8x | 1.5x |
| Mon, 16 Sep 2024 | HK$680.0b | HK$550.2b | HK$48.6b | 7.7x | 14x | 1.2x |
| Wed, 14 Aug 2024 | HK$713.7b | HK$532.5b | HK$42.3b | 9.9x | 16.9x | 1.3x |
| Fri, 12 Jul 2024 | HK$748.2b | HK$526.8b | HK$40.9b | 10.5x | 18.3x | 1.4x |
| Sun, 09 Jun 2024 | HK$854.4b | HK$518.0b | HK$40.5b | 10.7x | 21.1x | 1.6x |
| Tue, 07 May 2024 | HK$872.6b | HK$519.9b | HK$40.3b | 11.7x | 21.6x | 1.7x |
| Thu, 04 Apr 2024 | HK$813.1b | HK$519.8b | HK$40.3b | 11.4x | 20.2x | 1.6x |
| Sat, 02 Mar 2024 | HK$743.2b | HK$526.1b | HK$35.4b | 9.3x | 21x | 1.4x |
| Mon, 29 Jan 2024 | HK$691.2b | HK$527.0b | HK$35.2b | 8.9x | 19.6x | 1.3x |
| Wed, 27 Dec 2023 | HK$714.6b | HK$527.8b | HK$35.3b | 9.1x | 20.2x | 1.4x |
| Fri, 24 Nov 2023 | HK$760.8b | HK$528.3b | HK$35.4b | 8.2x | 21.5x | 1.4x |
| Sun, 22 Oct 2023 | HK$801.7b | HK$524.7b | HK$34.9b | 8.2x | 23x | 1.5x |
| Tue, 19 Sep 2023 | HK$816.0b | HK$523.9b | HK$34.7b | 8.4x | 23.5x | 1.6x |
Price to Earnings Ratio
23.5x
Current Industry PE
- Investors are pessimistic on the Hong Kong Luxury industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 10.8x which is lower than its 3-year average PE of 17.2x.
- The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 1.0x.
Past Earnings Growth
- The earnings for companies in the Luxury industry have grown 24% per year over the last three years.
- Revenues for these companies have grown 9.1% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Hong Kong Consumer Discretionary industry?
| HK Market | -2.92% | |
| Consumer Discretionary | -5.27% | |
| Luxury | -3.51% | |
| Textiles | 0.36% | |
| Footwear | -3.31% | |
| Apparel, Accessories and Luxury Goods | -3.79% | |
Industry PE
- Investors are most optimistic about the Apparel, Accessories and Luxury Goods industry even though it's trading below its 3-year average PE ratio of 17.3x.
- Analysts are expecting annual earnings growth of 6.7%, which is lower than the prior year's growth of 8.6% per year.
- Investors are most pessimistic about the Footwear industry, which is trading below its 3-year average of 11.6x.
Forecasted Growth
- Analysts are most optimistic on the Footwear industry, expecting annual earnings growth of 11% over the next 5 years.
- This is better than its past earnings decline of 17% per year.
- In contrast, the Textiles industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 2299 Billion Industrial Holdings | HK$5.71 | 3.7% +HK$432.7m | 33.1% | PE8.2x | |
| 3306 JNBY Design | HK$21.14 | 3.0% +HK$327.8m | 9.1% | PE9.6x | |
| 1440 Star Shine Holdings Group | HK$14.04 | 1.5% +HK$264.6m | 45.0% | PS39x | |
| 2668 Pak Tak International | HK$0.52 | 9.5% +HK$253.4m | 96.2% | PS5.4x | |
| 3998 Bosideng International Holdings | HK$4.37 | 0.5% +HK$232.7m | -5.1% | PE10.9x |
