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Brands focusing on exclusive, high-value products for ultra-wealthy consumers, such as Hermès, are performing better thanks to this clientele’s resilience to economic crises. Conversely, luxury brands that have become more accessible to the masses are struggling more. #LuxuryMarket #ConsumerTrends #EconomicInsights #BrandStrategy #Hermès #LuxuryBrands #MarketingStrategy

In the luxury sector, key players like LVMH, Kering, Hermès and Prada Group navigated diverse fortunes in the first half of the year. The luxury market's resilience hinges on trends such as sustainable consumption, cautious financial planning, and an evolving travel landscape. As the sector adapts to dynamic market forces, the allure of certain brands can be determined by a range of factors. FULL ARTICLE: https://lnkd.in/gGNSRVfD #retailinasia #retailnews #retailtrends #luxurygoods #salesinasia #luxury Subscribe to our bi-weekly newsletter: https://lnkd.in/dhj9z734

🚀 Resilience and Growth in the Luxury Sector: A First-Quarter Insight As we review the first-quarter figures across the luxury market, it's clear that the narrative isn't one of decline, but of remarkable resilience and selective growth. Despite the fears of a slowdown post-pandemic, certain brands have showcased their enduring allure and robust performance. 🔍 Divergent Performances While some brands face challenges, particularly in China, others like Hermès are soaring, with a 17% increase in first-quarter organic sales driven largely by their high-margin leather goods. This variance underscores the importance of strategic brand management and market positioning. 💡 High-End Resilience The luxury market's strength continues to be buoyed by the ultra-wealthy, with Hermès and Brunello Cucinelli leading the charge. Hermès’s ability to outperform, even in damped economic conditions, highlights the lessened impact of economic fluctuations on super high-end consumers. 📈 Stable Growth Prospects Despite the end of the post-pandemic sales boom, the luxury sector is on a path to achieving a steady growth rate of 6-8% this year. This is a testament to the sector's size and the strategic agility of luxury brands. #LuxuryBrands #MarketInsight #BusinessStrategy #Resilience

What's next for luxury? The industry continued to be polarised in the first quarter, says Luca Solca, managing director of luxury goods at Bernstein. “High-end brands are doing better (Hermès, Brunello Cucinelli), as well as brands with strong momentum (Moncler, Miu Miu). Brands with high exposure to middle-class consumers are the polar opposite of that (Gucci, Burberry). Mega-brands (Louis Vuitton, Cartier) are somewhere in between.” After a challenging end to the year, #luxury’s slowdown continued in the first quarter as challenges persisted for many in China. While there were success stories, some brands — especially those with a more aspirational customer — are battening down the hatches. Here, #VogueBusiness recaps Q1.

Despite a downturn in the luxury sector, brands such as Miu Miu and Hermès are thriving by leveraging heritage, creative direction, cultural engagement and strategic pricing, luxury experts tell Drapers. Find out more below. #luxuryfashion #MiuMiu #Hermes #fashionretail #fashionnews

For this piece, I spoke to luxury experts Carol Hilsum, Ida Petersson, Fflur Roberts, and Thea Gausen for Drapers, unraveling how luxury brands such as Miu Miu and Hermès have succeeded in defying the ongoing sector slowdown.

The luxury industry performance continues to be polarised in the first quarter of 2024 : “High-end brands are doing better (Hermès, Brunello Cucinelli), as well as brands with strong momentum (Moncler, Miu Miu). Brands with high exposure to middle-class consumers are at the polar opposite of that (Gucci, Burberry). Mega-brands (Louis Vuitton, Cartier) are somewhere in between.” The industry performance is expected to further decelerate in Q2 before improving in the second part of the year .

While many luxury giants are seeing sales slip, Hermès continues to soar, boasting an 11.3 percent rise in Q3. During that period, the brand brought in $3.99 billion (€3.7 billion) in revenue. With investments in artisanal craftsmanship and leather goods driving growth, Hermès seems immune to the slowdown. What’s the key to their success—brand exclusivity, craftsmanship, or something else? How do you think other luxury brands can adapt to a cooling market? #robbreport #luxury #hermes #revenue #luxurygoods

The global luxury perfume market, valued at US$ 12.6 Billion in 2023, is poised to reach US$ 20.5 Billion by 2032, growing at a CAGR of 5.4%. As China's luxury perfume market is set to become the second largest by 2025, significant opportunities arise due to its current 5% market penetration. Growth is fueled by rising disposable incomes, urbanization, consumer awareness, and e-commerce expansion. Leading brands like Chanel, Dior, Kering, Hermès, and Clive Christian are driving product innovation and customization to capture this evolving market.  Read more about this market report: @https://lnkd.in/gb3DHyQ4 Key Players: CHANEL | Parfums Christian Dior | Kering | Hermès | Clive Christian Perfume #LuxuryPerfume #MarketTrends #GlobalMarket #ChinaLuxury #GlobalExpansion #ConsumerAspiration #EcommerceBoom #ProductInnovation #UrbanLuxury #LuxurySpending #EmergingMarkets #Chanel #Dior #Kering #Hermès #CliveChristian #IMARCServices #marketresearch #marketinsights #greatplacetowork #bestworkplacesforwomen

"Luxury is the ability to create desire" 👉 This quote is attributed to Mr. Bernard Arnault - founder, chairman and CEO of LVMH, the world´s largest luxury group, spanning fashion giants Louis Vuitton, Christian Dior Couture, watches & jewellery Bvlgari, Tiffany & Co., wines & spirits Ruinart, Moët & Chandon to hotels Belmond, Cheval Blanc and much more. 👉 What makes a luxury brand "desirable"? The Brand Desirability Framework proposed by Accenture, published in a recent research report, is an interesting breakdown of the 7 key components of Desirability - highlighted in the image below. 👉 "Brand desirability is no longer just a question of quality and exclusivity. It’s also about delivering fluid, consistent experiences both in store and online. And it’s about supporting this with foundational digitized operations and a renewed commitment to brand DNA with sustainability by design." Full report: https://lnkd.in/d_MVA65D 👉 Luxury strategy is all about creating desire - consistently over time, no short cuts. In a challenging year for most of the #luxury industry, the most desirable brands are thriving...