Emma Robinson’s Post

A little about what we're up to at LXSC... Luxury fashion retail thrives on providing exceptional customer service and unique shopping experiences. Beyond transaction, luxury retail is emotional, it embodies a personalised, attentive approach that anticipates and exceeds the expectations of discerning clients, with knowledgeable staff who know their customer, share the brand's heritage, craftsmanship, and latest pieces. Services such as private shopping appointments, bespoke tailoring, and VIP access to limited-edition pieces enhance the shopping journey, creating memorable and distinctive experiences. BUT people are busy, how often do they have the opportunity to shop in-store and experience that exceptional level of service, with one, let alone multiple luxury brands? Multi-brand luxury eCommerce would seem to provide an answer but we've seen the incredible challenges and tumultuous changes the sector has experienced over recent months. This is the space that LXSC is exploring, reimagining multi-brand luxury eCommerce. Providing the convenience of a digital service with the one to one service of a personal shopper who knows you and your lifestyle, your wardrobe requirements, provides access to luxury brands, the latest collections and releases, can source rare and sold out pieces and take care of your gifting requirements. We believe this also presents a new type of retail opportunity for luxury brands, a new, refined and controllable acquisition channel. With our combined backgrounds in luxury fashion and rare fashion collectables, we know this is an exciting space to explore, join us as we share the journey... #luxury #retail

With 35% of shoppers more likely to return items because of the cost-of-living crisis, many luxury brands have experienced increased return rates & fraudulent behaviour like staging & wardrobing. We took a look at the challenges & opportunities facing luxury retailers during their returns process & outlined some top tips they can use to generate loyalty, reduce costs, & control returns. You can read the article here >> https://hubs.la/Q02TC7K50 #eCommerce #Returns #Retail #ReverseLogistics #RetailTech #Luxury #HighEndFashion #LuxuryFashion #Staging #Wardrobing #Bracketing

Since 2019, leading luxury brands have raised their product prices by an average of 33%. This accounted for half of the sector's organic sales growth over the past two years, according to RBC analysts. However, as the global cost of living has soared, consumers have become more discerning, challenging these pricing strategies. #retail #retailing #luxury #merchandise #shopping #brand #branding #economy #sales #products

🟠 LVMH & Hermès-backed shopping destination "Mile" launches for members only 👇 MILE by HEAT is an invite-only subscription service that offers exclusive access to curated, seasonless fashion at significant discounts. Founders Joe Wilkinson & Mario Maher are building on their success with HEAT, a popular mystery box service launched in 2019. 🔐 Members get access to a selected collection of luxury products, ranging from brand archives to current collections. Big names like Brunello Cucinelli, COMME des GARÇONS, Kenzo, Missoni, JW Anderson, Off-White, and Y/Project are featured, with discounts up to 90% off retail prices. 🧡 For brands, Mile offers a solution to manage excess inventory sustainably. It helps maintain brand equity while providing a new channel to reach consumers and offload overstock. Brands can avoid the traditional discount outlets, which can harm their image. 🛍 For consumers, the appeal is in the exclusive access and significant savings. The platform targets "seasonless shoppers" who value quality & meaning over the novelty of new releases - a shift that aligns with changing consumer behaviors (sustainability & timeless designs). 🛑 Access to Mile is invite-only. Members must apply and only a select few are accepted, which adds a cool layer of prestige & allure to the shopping experience. 💰 Mile has already brought on a roster of powerful investors, incl. LVMH Luxury Ventures, the Hermès family, Stefano Rosso (OTB Group), Burberry CIO Giorgio Belloli, MSCHF Co-Founder Dan Greenberg, Jing Daily founder Larry Warsh, among others. 🔮 With its innovative approach, Milemight become a new leading digital luxury destination. ➡️ Will we start to see more invite-only access to archive pieces, discounts and pre-loved items? 💬 #retail #luxury #innovation #fashion #ecommerce

Interesting move from this LMVH & Hermes backed venture. Quite sure this will work. Also great for extension with auctions and appointment based live shoppable new inventory release shows where new inventory is shown and discussed. Discounts x Exclusive x Appointment based x Shoppable live video x Loyalty x Social Experience = Success

Love to see a good retail and luxury report, finally, even if it is coming out of the UK 😉 Of course, here in the US, our overall situation is much different in many ways, but I do think CEO Michael Kliger says it best below. "In the US, “there’s a market opportunity for customers that want to shop high-end luxury at a very elevated level,” said Michael Kliger, Mytheresa’s chief executive. “The size of the offer at department stores, online and physical, seems not to capture this audience well enough.”" He's right! Shoppers, especially luxury shoppers, want a luxury experience, and that's just not possible is the size of our department stores. The good news, I think, is that there are a lot of mid-market and aspirational shoppers that do still want a lot of options and a discovery opportunity, which is what our department stores would be great for. And there are so many mid-market brands that can fill the space, as long as department stores get excited again about working with lesser known designers and start giving them the terms, the space, and the support they need to thrive. But there is room here too to create more personalized and exciting luxury shopping experiences as well. Not those that feel like a museum, or just a place to admire, but places that feel fun, joyful, attainable, and welcoming - because that can, and is, luxury too. #retail #luxuryretail #departmentstores

VIC’s: How the Super Rich Want to Shop. There is a shopper out there that most of us will never see. They shop in private spaces, purchase products nobody else can buy, and spend millions of dollars each year with their favourite brands and retailers. In #fashion industry-speak they are called VIC’s (‘very important customers’) because though they only make up 2 percent of total customers, they drive around 40 percent of #revenue…. And in a market where aspirational shoppers are pulling back on #luxury purchases, the battle to wine, dine and otherwise engage rich VIC’s with elaborate experiences is heating up. How do the 1% want to be courted: 1. One-Of-A-Kind, Personalised Products. Discretionary spend — not just on luxury goods — has gone up significantly relative to pre-pandemic levels. At present, revenue and profit growth at key luxury companies like LVMH is not coming from selling greater volumes of products but from increasing prices and selling higher-ticket items including one-off, unique pieces conceived to lure VICs. 2. Exclusive Spaces Are Safe Spaces. While they are shopping for these special products, VICs want complete privacy and discretion. During the pandemic, many luxury brands started opening private shopping spaces in China, a trend that is taking off around the world. Engaging with customers in this way drives higher spend, and helps brands like #gucci to develop one-on-one relationships with these customers which it hopes will bring them back again and again. 3. Money-Can’t-Buy Experiences. Rich people are time poor. It’s easy for them to buy products; it’s more difficult to convince them to spend time with you. So, luxury brands and retailers are offering access to the kind of experiences even their money can’t buy to build personal relationships with these VICs, which brands have learned means they will spend more money. 4. Emotion at the Heart of the Strategy. VIC’s are used to people trying to get something from them, so the last thing they want is someone shilling product to them. The focus must be on building relationships and trust, and from there, the business will follow. #luxuryfashion #luxurylifestyle #vip #vipexperience #fashionbusiness #womenswear #lvmh #dior #louisvuitton #whattowear #styleinspo #blackcaviarfashion #tocca

The #luxury handbag industry is evolving with the surge of e-commerce! The latest update shows the transition from traditional brick-and-mortar to digital platforms. The top brands and platforms like NET-A-PORTER and FARFETCH are revolutionizing the shopping experience with exclusive online collections and personalised services. Despite challenges like counterfeiting and #economic shifts, the future shines bright. Tapping into emerging markets, prioritizing sustainable luxury, and leveraging the power of #socialmedia and celebrity influence has become a need of the hour now. Do let us know in the comments about your take on the power of social media for building businesses.

🌟 My insightful read for this week was The Business of Fashion's recent case study, "Selling Luxury to the 1%". 🌟 It explores the way brands are re-strategizing the way they retain clients and more specifically VIC (Very Important Clients), and what keeps them coming back, at its core its about meticulous focus on curating unparalleled in-store experience and brand- consumer connections. The emphasis on in-store experiences and curating an environment of opulence and craftmanship for clients. This paves way for unique shopping experiences which are a testament to luxury and exclusivity, even inspiring clients towards becoming VICs. One cannot underplay the significance of VICs in the luxury market who, astonishingly, constitute a mere 2% of luxury customers yet drive a staggering 40% of luxury sales. Brands are creating bespoke opportunities and events tailored exclusively for VICs, such as appointment only stores, private floors or consultations with creatives to name a few. These experiences are key touchpoints with VICs and act as pivotal moments to distinguish their brand experience from the competition.   By tailoring experiences to individual preferences and affinities, brands can instill a profound sense of priority within each customer, fostering a strong sense of brand loyalty within all consumers.   I learned that, the path to sustained success in the luxury industry exceeds transactions but lies in the meticulously  cultivated relationships and experiences to associate with the brand.    #LuxuryRetail #VICs #BrandLoyalty #CustomerExperience #businessoffashion #luxuryindustry

It was only a matter of time that department stores would want to have a cut of the resale market for luxury handbags as more and more luxury brands are focused on their own stand alone stores. Bloomingdale's has teamed up with leading luxury preloved digital retailer Rebag to launch in select Bloomingdales locations. It makes sense as consumers want to see condition of bags they are purchasing before pulling the triggger. I do see a time when even luxury brands will want to control their own second hand market of their own brands. The preloved market for luxury is booming and accounting for billions of dollars so it makes sense more traditional retailers will want to have access to this lucrative market and its consumers. #resale #luxurybrands #luxuryretail #preloved https://lnkd.in/eZMCHBnT