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.
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Background:
In the midst of a post-Covid luxury boom, brands are going the extra mile to lavish top spenders — known as very important clients, or VICs. To court and keep VICs, who often account for the majority of their sales, names like Givenchy, Balenciaga, Alexander McQueen and Chopard fly clients out to ritzy charity galas and film festivals, organise exclusive runway shows and extended stays in five-star hotels and even grant access to designers and executives.
“It’s really about access to a designer, keeping them in the inner rings of the fashion world, so they feel seen and appreciated,” said BoF correspondent Chavie Lieber. “And then, obviously it leads back to more sales.”
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This week on The Debrief, BoF’s Chavie Lieber takes Lauren Sherman inside the cloistered world of luxury clienteling.
Key Insights:
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