Luxury Market Update (The Robin Report)
In early May, I attended the Luxury Roundtable: State of Luxury 2013 in New York, organized and hosted by The Luxury Daily and its editor-in-chief Mickey Alam Khan. It featured speakers from the Four Seasons Hotels and Resorts, Mercedes-Benz, Donna Karan, Graff Diamonds, Michael Kors, Tod’s, The Wall Street Journal, Boston Consulting Group, ePrize and and Ipsos MediaCT. This was a very exclusive and thought provoking forum for very traditional luxury goods companies.
The overall gist of the event was that luxury’s commandments of heritage, quality, controlled distribution, and elevated customer experience are being impacted by changing demographics and new technologies. The Internet has irrevocably changed availability, distribution and control of brand messaging. The new rules of the luxury game as articulated by Jean-Marc Bellaiche, leader of Boston Consulting Group’s Luxury Practice, (Read more HERE)