BALENCIAGA’s Post

Since LVMH’s $16 billion acquisition of Tiffany & Co., the iconic jeweler has faced significant challenges. Ambitious sales targets and reduced commissions have led to high staff turnover, with many employees moving to competitors and taking loyal clients with them. Key Points: • Tiffany’s sales goals have been deemed unachievable by staff, leading to frustration and departures. • The company’s Manhattan flagship store, crucial for annual sales, has struggled to meet these ambitious targets. • Alexandre Arnault is tasked with turning Tiffany around, leveraging high-profile marketing campaigns and significant price hikes. • Competitors like Cartier are gaining market share, adding pressure on Tiffany to innovate and adapt. LVMH’s strategy involves strengthening jewelry collections, upgrading stores, and hosting exclusive events. However, high turnover and employee dissatisfaction highlight the need for a balanced approach. #Luxury #Retail #Tiffany #LVMH #Jewelry #BusinessStrategy

Frederic Arnault to become CEO of LVMH Watches. LVMH Watches & Jewelry Simon-Jules Darthos Laura Stritt Elena de Cominges chao ROZE Antonella Marcìa Rosa Ferreiro Juan Romero Brufau Theresa Suesakul, SPHR Chloe Pan Antonia Albert Seitaro Kano Aliya-Mara Krucker #pentoz #ceo #innovation #ai #news #newsupdate #update #january #january2024 #developmentcompany #appdevelopmentcompany #innovation2024

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Ever wondered how luxury fashion brands like Gucci, Balenciaga and Saint Laurent train their retail frontline? 🛍️ Well, today we can tell you - it’s with eduMe! Multinational luxury goods corporation Kering (who own the brands above as well as many more) was looking for a training solution that was more scalable than their current in-person sessions. With so many sub-brands and locations, they needed a way to quickly roll out training that was bitesize, engaging and standardized. By partnering with eduMe, they were able to give retail associates passwordless access to social media-inspired training on store security and inventory loss. This not only resulted in a better experience for their learners, but also gave Kering greater visibility (and ultimately confidence) around workforce knowledge. Since launching, Kering has seen: 🌟 75% training completion rate 🌟 68% training engagement rate 🌟 98% workforce satisfaction with training We’re so excited to be working with Kering, and can’t wait to see what else they can achieve with frontline-optimized training 🚀 Read the full case study here: https://lnkd.in/ewQS4wqQ #frontlinetraining

South Koreans are emerging as the top spenders on luxury goods, so luxury brands are adapting their strategies to cater to their preferences. A great example of this is Gucci's new cultural initiative, which is set to honour the rich heritage of Korean culture by showcasing the achievements of local artists on a global platform. This initiative reflects Gucci's commitment to fostering #cultural connections and paying tribute to Korean creativity. Gucci aren't only targeting the #luxury consumer here - they are specifically building their strategy around the younger #GenerationMZ consumer. A significant 43% of luxury goods consumers in South Korea in 2023 were in their 20s and 30s, highlighting the importance of engaging with this #demographic. And Gucci aren't the only ones - many #brands have moved online to e-commerce platforms to attract younger, tech-first consumers and are entering partnerships with a growing pool of K-pop artists as brand ambassadors, tapping into local cultural #fandoms. It's an exciting space to watch, and an even more exciting place to play! https://lnkd.in/gZ7mE9bn Vogue Business

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Apart from delivering superb products, Luxury brands have to be culturally relevant. Brands should consider long-term cultural impact in taking a stance in the values that consumers care about. It is less what kind of products you sell and more about what kind of universe you are creating and what lasting impression you want to leave with clients. It’s one thing to post about something on social media, but it is quite another to commit yourself in a permanent way to a culture and the conversation around it. Here is a great example of what Louis Vuitton is doing in Shanghai to stay relevant among its local consumers. #localculture #history #luxury #Louisvuitton #customerexperience #

Kering readies its big brands to do battle on Fifth Avenue A whopping 963 million dollars… Such was the total at play in a major real estate transaction recently finalised between Kering, retail giant SL Green and New York property tycoon Jeff Sutton. Situated at 715-717 Fifth Avenue, the space's strategic value cannot be understated. 🤼 As it is, the location is in a relatively competition-free neighbourhood. Indeed, though Giorgio Armani is currently just next door to the new acquisition—on the corner of Fifth Avenue and 56th Street—it is set to move further up Madison Avenue: good news for the Kering brand that will fill the new space. This stands in stark contrast to Gucci's location at 725 Fifth Avenue, for example, which became less desirable when Prada moved in across the street, at numbers 724 and 720. ❔In its drive to reconquer the US market, Kering has an array of choices of strategic brands to allocate the much sought-after location: BALENCIAGA, Gucci, Saint Laurent, Bottega Veneta, Alexander McQueen… Yet as of now, the jury is still out as to which brand it will be. 📈After 2023—a year in which LVMH monopolised much of New York's Fifth Avenue—Kering now looks to be on the up and up. Yet it must first complete significant renovations on the space to prepare it for whichever fortunate brand is chosen to fill the highly-strategic location. To learn more about this strategic real estate acquisition, read our free investigative article: https://lnkd.in/eyxs2vtn

Prada recently sealed an $835 million deal for a prime spot on 5th Ave in NYC. Not to be outdone, Gucci’s owner paid $963 million off 5th Ave in NYC. Why are these major players in the retail industry pouring massive sums into shopping locations, especially during a time of retail real estate decline? Real estate is perceived as a valuable asset and a secure haven for capital investment. That is especially true where, as here, the companies are buying property in the most important retail street in the world. These transactions serve as prime examples of how strategically positioned assets consistently attract significant interest from global investors, demonstrating the enduring demand across economic cycles. (Sources: NY Post & The Real Deal) #commericalrealestate #newyorkpost #therealdeal #prada #gucci #crecareers

Over the last eight weeks, I had the chance to deepen my knowledge of the luxury sector through an immersive learning path offered by LVMH. This course is a right continuation of the Summer School followed in Luiss Guido Carli University in Managent of Made in Italy.   The course allowed me to better understand how LVMH brands, such as Christian Dior, Fendi, Bvlgari, Benefit, Guerlain, Moët Hennessy, Veuve Clicquot and many others create and maintain their presence and success through their #brand DNA and a strong focus on quality and #sustainability, achieved through constant #creativity and #innovation, never losing sight of the central role played by evolving #consumers.    Besides exploring LVMH and the #luxury world fundamentals, future #trends and #challenges, I decided to focus on specific modules:  - LVMH & Luxury Industry - Luxury & Sustainability - Creation & Branding Promotion - Retail & Customer Experience