Louis Vuitton?s strategy to overcome consumer inertia is to develop products, such as this from their 2017 pre-fall collection, which stand out as one-offs
The nature of luxury is evolving fast. Producers and consumers should wise up to the emerging multi-level landscape and never forget the power of the right kind of celebrity, says our columnist Luca Solca
Luca Solca
True luxury is about projecting the impression, or even the illusion, of exclusivity. That is what luxury is about. If you can do that from an accessible price point and if you can do it at a very high standard, that is good enough to be true luxury. What it takes to maintain this perception of exclusivity is interesting, because nothing in the modern luxury industry is really exclusive. If it were exclusive, it wouldn?t be an industry. We are talking about businesses that have to grow fast, and growth is the exact opposite of exclusivity. And true luxury is very subjective. True luxury for Bill Gates is buying a set of Leonardo da Vinci drawings, true luxury for middle class consumers is buying a Hermès handbag ? there are a million shades of difference between one definition and the other. Follow LUX on Instagram: the.official.lux.magazine
This is what I have previously referred to as the megabrand bathtub: we have a big bathtub and the tub is producing new consumers coming into the megabrand market. New consumers, especially if they are rich, stay in the megabrand bathtub to the point that they realise th...