Tuesday, April 15th, 2014

Fashion, Luxury, POSHGLAM

Editorial Throwback: How Attainable Luxury is Changing the Market

JimmyChoo 300x298 Editorial Throwback: How Attainable Luxury is Changing the Market

The World Wide Web has given way new online culture of fashion addicts who love the finer things in life but don’t necessarily want to pay full price for them. This new demand for luxury goods at discounted prices is playing a huge role in the diminishing returns traditional retailers are seeing. Department stores like Barneys and Bergdorf Goodman can hardly compete with companies like Gilt.com and HauteLook.com. Luxury resale is growing market as well. A swift fashionista can pick up a gently worn item over at Portero and save a huge chunk of change.

As luxury marketers and consumers we have to wonder what this means. Has luxury lost it’s exclusivity?

I would say absolutely not. Though marketing of luxury goods is changing, exclusivity is something that is determined by stable, consistent prices and scarcity of goods. If the “true” luxury brands refuse to discount, then luxury can stay exclusive. Some brands discount for the sake of moving stale merchandise. Even Jimmy Choo, one of the most popular luxury handbag and shoe brands, hosts a sample sale twice a year.

It’s important not to forget the emphasis that luxury brands must place on quality and craftsmanship. What sets a luxury brand apart from its cheaper counterpart is its distinct elegance, that stands out among lesser quality goods.  True luxury brands are timeless and transcend trends. When determining if something is luxurious many point to the price tag. However, I would ask myself a few other questions as well. For instance, how long will the product last? Will it get better with age? Is it an heirloom piece or more of a trendy item? Where did it originate from? Are the textiles trustworthy?

Many marketers try to pass non-luxury items off as luxury pieces in an effort to add value and prestige. We are all familiar with knockoffs and luxury “inspired” goods. One of the many factors contributing to diminishing value of luxury goods is knock-offs. When a consumer is paying a low price to obtain a luxury knock-off, the value of the original item depreciates.  The rat race to sales and immediate accessibility combined with the global presence of the online realm has led to a marketing “Catch 22″: if a brand presents a product online for the sake of the sale, it  makes itself vulnerable to knock-offs and replications. What’s a luxury brand to do? I would say it’s important to concentrate on authenticity, or focus on an element that cannot be easily replicated by a competitor.

The lines between the authentic and the faux-luxe are blurred, and the inundation of affordable luxury goods and knock-offs into the luxury world is making it more and more difficult to distinguish the two. If luxury is more readily accessible, so what? People are still buying luxury goods, but the economic climate and market have changed. Consumers are still vying for the same luxury items as before the market tanked, they just want them at a better price point. Most luxury brands are dependent on their loyal customers with whom they have built lasting relationships, so if the brands don’t discount they can still stay in the market. The only proven way to maintain brand equity is to refuse to discount, and the only way to keep some customers is to give them a break. So what’s a luxury marketer to do? Perhaps luxury marketers should be more creative with their marketing tactics and more careful with the placement of their goods.

Keep in mind, exclusivity isn’t tangible, it’s more of an intrinsic quality or an idea. Luxury is about an experience, so as long as the brand provides a unique experience for the consumer, it can still stay afloat in this economic climate. It’s really a matter of defining one’s market and sticking to it. If the brand is aiming for the luxury market, it’s important to narrow the scope, and do what it takes to retain customers.

Though discounts may not be an option, diffusion lines are more popular now than ever. Some designers see diffusion lines as the end of their careers, while others see them as mass marketing opportunities. It’s all in how a brand structures its marketing initiatives and the way it reaches customers. After all, Luxury isn’t in a price tag, it’s in the feeling one gets from owning something that enhances one’s lifestyle. Enjoy icon wink Editorial Throwback: How Attainable Luxury is Changing the Market

A good read Deluxe: How Luxury Lost its Luster http://www.amazon.com/Deluxe-How-Luxury-Lost-Luster/dp/1594201293

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Monday, October 28th, 2013

Fashion, Luxury, POSHGLAM

Barneys Making A Call to Oprah? First Black Male Supermodel, Tyson Beckford Frequently Profiled

Tyson Barneys Barneys Making A Call to Oprah? First Black Male Supermodel, Tyson Beckford Frequently Profiled
Barneys pulling a Paula Deen and calling O? May be a good idea!

One of the world’s most successful male models has waded into the row over whether Barney’s flagship superstore in Manhattan racially profiles its customers. Fashion megastar Tyson Beckford, 42, told PIX11 on Thursday that he frequently gets judged on the color of his skin in Barney’s and other places.

And on Friday it was revealed that another high-end shop, Macy’s, is facing a lawsuit from customer who says he was mistreated and humiliated due to the color of his skin.

‘I might have the most recognizable face in the world. I still get followed all the time, any time I go to a store,’ Beckford said outside Barney’s on Thursday.

Barney’s has also issued an apology and stated that they are employing a civil rights expert to look at how they treat customers at the luxury store.

Meanwhile Jay-Z is coming under pressure to drop his clothing deal with the high-end store.

Tyson Beckford was interviewed by PIX11 as he came out of Barney’s flagship store on fashionable Madison Avenue near 60th Street in Manhattan.

‘I just went in there now to go to a casting and security is looking at me. It’s sad,’ said the model who first hit fame when he became the face of Ralph Lauren’s Polo range in 1993.

Also on Thursday, Barney’s CEO Mark Lee posted a statement on their Facebook page that began: ‘Barneys New York believes that no customer should have the unacceptable experience described in recent media reports, and we offer our sincere regret and deepest apologies.’

The note added that the store has ‘zero tolerance for any form of discrimination. We are a strong proponent of equal rights and equal treatment for all human beings.

‘Our mission is to ensure that all customers receive the highest-quality service – without exception.’

Lee then announced that the company is hiring civil rights expert, Michael Yaki, who also works on the U.S. Commission on Civil Rights, to work with the store on this issue.

Then on Friday, Robert Brown, of Brooklyn, became the third young person in a week to take legal action complaining of racial profiling by high-end Manhattan stores.

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Tuesday, September 3rd, 2013


Yurman’s Willow Inspired Jewels | Strong, Confident & Pertinent Presence

David Yurman depicts in his most recent female muse, The Weeping Willow Collection. With ever-astonishing imagery typically pulling from on-trend moguldom i.e. Kate Moss, Joan Smalls, Gisele Bundchen & Kate Upton. This time imminent personification erupts from a signature piece of mother nature that statures beyond the known. Showcasing an intimate, behind the scenes look at the inspiration & design process behind his luxury jewel house. David’s whimsical development from ideation to tangible art, draws from both his imagination and god’s work. Crystallizing the energy and statement making essence of the baubles eventually coming to life in his hands at the workbench.

A very early evening walk through arching willow trees near Yurman’s country home further inspired David to design the intricately crafted Willow collection with Sybil, his wife.

The graceful designs interpret David Yurman’s iconic cable motif in a slender, feminine way and effortlessly layer with his existing collections.

Like fronds dancing on a light breeze, there is a kinetic energy in Willow. “There’s a bit of organic harmony,” says David. “Like everything in nature, it’s perfectly asymmetric.”

David Yurman Weeping Willow 632x632 Yurmans Willow Inspired Jewels | Strong, Confident & Pertinent Presence

David Yurman Willow 632x632 Yurmans Willow Inspired Jewels | Strong, Confident & Pertinent Presence

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Friday, August 23rd, 2013

Fashion, Luxury, POSHGLAM

Palazzo Versace Residences & Resort Debut Dubai

Palazzo Versace Interior Palazzo Versace Residences & Resort Debut Dubai

Fashion-inspired luxury private residences don’t emerge very often, when they do, we’re up for their discovery. Versace Dubai tinged our fancy debuting their palatial 4,732 sqft (440 sqm) condominiums showcasing for the first time new and exuberant range of bespoke creations including their own furniture, fabrics and signature color schemes.

Unmatched opulence, over-the-hilt glamour merge for meticulously crafted designs exclusively for the Palazzo Versace Dubai resort. Conveying a familiar combination of unique accents bringing forth more than a majestic grand reception room and entertaining spaces, while hosting a series of private terraces. The architecture includes not only four lavish bedroom suites, but breakfast rooms finished with the world’s finest Versace designed mosaics, marble flooring and intricate motifs.

Limited collection of 169 private residences and 213 super-luxurious hotel suites, elaborately furnished and housed in a 130,000 sqm palace. Palazzo Versace Dubai features a fine dining room, Italian restaurant along with Pasticceria, including all day dining with lounge, pool bars, a health spa, gymnasium, ballroom, conference and private function facilities. In-house Versace flagship with ready-to-wear and fine jewellery boutique are set in landscaped grounds complete with a private marina.

Complementing the scenic view, and overlooking Dubai Creek the property is cleverly nestled in the heart of Culture Village. Dubai’s effervescent cultural hub, housing numerous institutions for opera, ballet, theatre, fashion shows, complete with academies for art, music, dance, pottery and other crafts anchor’s the location for travel and leisure.

Versace Residence Palazzo Versace Residences & Resort Debut Dubai

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Friday, June 21st, 2013


Underdog Hermès Sues LVMH Over Preemptive Equity Swap & Conversion

hermes screen 785x489 Underdog Hermès Sues LVMH Over Preemptive Equity Swap & Conversion

Hermes and owners have consistently fought with LVMH, the luxury vehicle and holding company of billionaire Bernard Arnault, since it revealed in 2010 that LVMH had secretly built up 14 percent stake in Hermes. The later increase to 22.6 percent, spurred additional concern for Hermes, who has launched a fresh round of legal proceedings against their now arch-rival LVMH.

Initially founded in Paris by Thierry Hermès as a harness workshop, Hermes has challenged the legality of the stealth stake-building in a court procedure. Last month, French stockmarket regulator AMF called for LVMH to receive the maximum fine for having failed to disclose moves to obtain cancellation of equity swaps LVMH used to amass stake in the 175-year-old maker of Birkin and Kelly handbags. The new and interesting move in the Parisian commercial court comes as a update to a similar complaint Hermes filed against LVMH in criminal courts in July 2012.

According to a spokeswoman for Hermes:

“The tribunal… will wait until the end of the penal investigation before launching its (new) procedure”

Hermes argues that LVMH had initial intentions of building up a stake in Hermes when it preemptively bought equity swaps in 2008. Furthermore, their complaint insists they should have informed the market of their initial intent upon acquiring the swaps which were supposed to be settled in cash, but were settled in Hermes shares instead.

The sanctions commission of the AMF is due to decide on LVMH’s fine by July 31.

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