On Net-A-Porter, a luxury e-commerce site, you can find a $4,450 Alexander McQueen quilted coat, a $5,140 pleated silk-blend skirt from Lanvin, and the $1,100 Gucci pussy-bow blouse that Melania Trump wore to the second presidential debate. “Your heritage, the way you make things, everything goes to that brand image. “You don’t think of them as anything like luxury anymore,” said Elder. In 2010, has tried to be relevant with millennials, and recently launched a collection with supermodel Gigi Hadid, Elder said. “Brands overstepped into the idea of trying to get all customers,” said Elizabeth Elder, research associate at business intelligence firm L2 Inc.įor instance, Tommy Hilfiger, which was acquired by PVH Corp. See also: Coach pulls back inventory in department stores due to deep discounting Those brands are reducing their availability in department stores to be more exclusive. One can also find brands like Ralph Lauren Inc. On Thursday afternoon, the site had a $1,795 suit jacket from CG Chris Gelinas and $545 ankle booties from the SJP by Sarah Jessica Parker collection. Among Compagnie Financiere Richemont S.A.’sīrands are Cartier and Van Cleef & Arpels.Īmazon features some relatively high-priced goods on its fashion pages. “Not until they started to white label their services with assurances and guaranteeing brands assets would be managed in accordance with tight service level agreements did they start to achieve the success we see today, as they now host and manage most of Richemont’s portfolio of luxury brands online presence,” said Harrison. The Céline womenswear Spring/Summer 2017 runway show during the Paris Fashion Week ThoughtWorks is a tech consultancy for the retail industry. ![]() “Luxury brands tightly control their customer experience, imagery, supply chain and overall brand assets which means a partnership with Amazon and their generic, fast and simple model does not offer any synergy,” said Ruth Harrison, director of retail strategy for ThoughtWorks in Europe. Still Amazon has work to do before it meets the standards for luxury sales. ![]() There has been an overall slowdown in the global luxury market, the Journal reports.Īnalysts at Cowen believe Amazon will be the top apparel seller by 2017. LVMH reported nine-month revenue totaling €26.3 billion ($29.0 billion) this week, up 4% from a year ago, with the luxury giant’s perfume business among the areas of strength, according to The Wall Street Journal. See also: ‘The Amazon effect’ and 3 other things to watch for this holiday shopping season “Time is the new luxury and LVMH will need to look for omnichannel ways to add luxurious convenience and personalization to the selling and brand experience,” they wrote in a note published Wednesday. PMX Agency finds that Ralph Lauren and Michael Kors are getting the most online marketshareĪnalysts at Cowen & Company, who asked the Amazon question, believe LVMH will have to take a closer look at digital, even if Amazon isn’t the right fit.
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