While luxury consumption is traditionally associated with ostentation and extravagance, the rise of eco-consciousness is reshaping the expectations of today’s luxury consumer, and indeed redefining the luxury market as a whole. According to the Sustainable Fashion Blueprint 2018report, about 57 per cent of consumers cited sustainability—along with ﬁt, price and style—as one of their key considerations when buying fashion items. Similarly, while “luxury” is typically understood to mean “something adding to pleasure or comfort but not absolutely necessary”, the same customer with access to life’s greater refinements is also mindful of environmental impact, and in favour of a more evolved and sustainable brand of luxury.
Sustainable luxury—which also goes by honest luxury, smart luxury, new luxury, or green luxury—embodies the eco-friendly and socially responsible business behaviours that the … please read more
In 1983, I’ve read ‘A Passion for Excellence’, by Tom Peters and Nancy Austin, and gained a totally new way of understanding excellence.
Then, over a 30-year career in business, I got used to hearing that excellence is synonymous with extreme quality, perfection, or something that goes beyond normality. Dictionaries define it as something exceptional or extremely good.
But having studied Luxury Brand Management and read a lot about this world of fascination, I began to understand excellence differently. I read many experts, investigate the … please read more
The luxury market, like any other sector, is experiencing considerable change and the brands that serve this segment need to know where it is heading so to adapt their offer. Quo vadis, Luxus?
The world of luxury has a fascinating appeal. It draws you in.
It draws your attention, curiosity and the desire to belong.
It draws you in by its prominence, its excellence but most of all because it is untouchable. It has mystery, elegance, innovation, history, tradition, exclusivity, sophistication and pleasure for all the senses, making it desired by many, yet accessible to few.
Luxury is essentially a state of mind. It is a way of life. It is much more than just high purchasing power. Mademoiselle Coco Chanel once said, “Some people think that luxury is the opposite of poverty. But it is not. It is the opposite of vulgarity.”
In fact, the high and insouciant purchasing power is not the only factor typical of the luxury markets. Usually, these are … please read more