The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
With the top 2 percent of luxury customers driving 40 percent of luxury sales, the ultra-wealthy are spending more on luxury than ever before. Yet amid a broader market slowdown, winning them over is becoming a competitive battleground for brands.
BoF’s luxury correspondent Robert Williams, alongside report author Tamison O’Connor, Mytheresa’s chief customer experience officer and managing director Isabel May and Bain & Company’s senior partner Claudia D’Arpizio, will share valuable lessons on how cultivating personal relationships and crafting memorable experiences for shoppers can help brands stand out among competitors.
Exclusive to BoF Professional members.
The ultra-wealthy are spending more on luxury than ever before — and, amid a broader market slowdown, winning them over is becoming a competitive battleground for brands. BoF breaks down how strategies from Gucci, Mytheresa and Tiffany & Co. are successfully building closer relationships with top clients.
The designer has always been an arch perfectionist, a quality that has been central to his success but which clashes with the demands on creative directors today, writes Imran Amed.
This week, Prada and Miu Miu reported strong sales as LVMH slowed and Kering retreated sharply. In fashion’s so-called “quiet luxury” moment, consumers may care less about whether products have logos and more about what those logos stand for.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.