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Europe has plenty of "luxury" brands, although few in the tech sector, admittedly. But consumer-facing brands aren't everything. Germany's industry is famously
by IfOnlyYouKnew 5y ago
Europe has plenty of "luxury" brands, although few in the tech sector, admittedly.
But consumer-facing brands aren't everything. Germany's industry is famously reliant on "hidden champions": specialist mid-sized companies you've never heard of, producing, say, industrial pumps, chewing-gum wrapping machines, or large curved glass panels.
- Proven 5y agoMost luxury brands existed before socialism took hold and especially before the EU.
- smaug7 5y agoThe article points out that the industries that the European companies are in have slow growth rates. I can't imagine industrial pumps, chewing gum wrapping machines, large curved glass panels can have the same growth rates (or profit margins) as some of america's top mid sized companies. https://www.forbes.com/lists/best-mid-cap-companies/#66cd8f8b59e1 https://www.forbes.com/lists/best-mid-cap-companies/#66cd8f8... Here's a list to get a gauge of what's out there
- TMWNN 5y ago>Germany's industry is famously reliant on "hidden champions": specialist mid-sized companies you've never heard of, producing, say, industrial pumps, chewing-gum wrapping machines, or large curved glass panels. Besides smaug7's point (which the article also makes), mittelstand is a German, not European, phenomenon.
- quartesixte 5y agoYeah European industrial machine manufacturers are world class and some have virtual monopolies on their product. It’s not sexy and definitely slow. Months where they sell more than 4 machines a month is “crazy busy” for these guys. Granted, each machine takes months to manufacture, but when one machine sells for $25million + millions more in support costs, you don’t have to work very fast to hit big revenue. But their customers don’t expect fast either.