Prada Group’s Post

▶ Intuition and innovation: " How to keep a 140-year-old Swiss watchmaker relevant" Breitling CEO Georges Kern talks about the Swiss watchmaker’s heritage, today’s luxury market and creating needs “In the old days, we said, ‘30 to 40 years, male, income […] whatever.’ This was the structure. Today, it's more of a lifestyle; you buy a brand, then you buy design and then technical features.” Neither critique nor commentary, but an apt observation of how consumers pay with their values and emotions. That this was stated by the man behind one of the best watchmakers in the world, Breitling CEO Georges Kern, is even more intriguing. During a brief encounter in Jakarta some time ago as part of the Swiss luxury watchmaker’s 140th anniversary campaign, he was nothing but affable and discerning. Read more: https://lnkd.in/gb-qRuQK #culture #lifestyle #luxury #watches #Intuition #innovation #thejakartapost BREITLING Georges K.

China's #daigou market, once considered a loophole in luxury retail, has now evolved into a force to be reckoned with. While luxury brands operating in China grapple with flattening growth, the luxury grey market is thriving as a competing channel. Can retailers combat daigou's increasingly sophisticated system, or has the market become too big to stem the tide? We explore here: https://lnkd.in/emuVj5Np

Learn about the transformative effects of Inpute's intelligent document processing solution for Bulgari's international shipping and fulfilment operations. Read the full case study here>> https://hubs.ly/Q02nwpjM0 #CustomerSucess #Inpute #Bulgari

China's perfume market is seeing strong growth. One of the most exciting changes is that people are now more interested in buying expensive luxury perfumes. Chinese consumers are showing a clear preference for high-end, luxury perfumes. This isn't just a temporary trend; it's a sign that more people are willing to spend money on exclusive, high-quality scents. As a result, the luxury perfume segment is growing faster than the overall market. This growing interest in luxury perfumes can be seen in the retail world. New perfume stores are opening all over China, and shopping malls are dedicating entire floors to these products. For international luxury perfume brands, this is a great opportunity. #LuxuryPerfumes #ChinaMarket #FragranceTrends #MarketOpportunity #ConsumerTrends #China

The rapid resurgence of luxury in Hong Kong, despite economic slowdown in mainland China, reflects renewed confidence of brands in the city. Massive investments by Hermès and other brands illustrate this dynamic. Impressive growth figures and renovation of luxury retail areas support this trend. However, increasing reliance on mainland Chinese tourists raises questions about the long-term sustainability of this revival. Efforts to diversify retail offerings and promote localized luxury signal adaptation to changes in the global luxury market. #Luxury #Advisory

🇰🇷 Seoul, the new Capital of Luxury ! South #Korea has now become the 5th largest luxury goods market globally, with annual sales reaching $14.1 billion. Korean consumers have the highest per capita spending on luxury goods, with an annual average of $325, surpassing Americans ($280) and Chinese ($50) as reported by Morgan Stanley. Along with the development of the purchasing power, the success of first-ever shows in Korea, including #Dior's show at Ehwa Womans University, #LouisVuitton's collaboration with #SquidGame director Hwang Dong-Hyuk at Jamsugyo Bridge, and #Gucci's fashion show at Gyeongbokgung Palace have energized Seoul's fashion scene. Meanwhile, #Seoul's influence goes beyond fashion shows. Taking advantage of the increasing number of visitors (11 million projected in 2024) to Korea, popular pop-up restaurants like Woori Louis Vuitton, Café Dior, Café Madang d'#Hermès in Gangnam and Gucci Osteria (only 4 in the world) in Hannam attract new and loyal customers, drawing in visitors from other regions and countries. Notably, continuous collaborations between Korean celebrities, such as #Blackpink, and French brands like #Chanel, #Dior, #YvesSaintLaurent and #Celine have not only boosted sales but also showcased the brand's originality. Through these creative partnerships, global luxury brands are eager to enter the Korean market and engage with local consumers, as the luxury market revenue is projected to reach $7.1 billion in 2024 with an annual growth rate of 4% over the next four years. #Seoul #Korea🇰🇷 #Luxury #France🇫🇷 #Synergy #Opportunities #Growth

The verdict, given by Justice Sanjeev Narula in support of Bulgari S.P.A., an esteemed luxury brand renowned for its innovative designs, emphasised the utmost importance of safeguarding intellectual property within the luxury goods industry. For more info, please read the attached case brief on the matter. #trademarks #intepatip #casebrief #legalupdate #casereview #luxurytrademarks

What's New to TheStreet... 💎 Cartier's owner Richemont feels the pinch as demand slows in China, with sales dropping 27% in key markets like Hong Kong and Macau. How can luxury brands adapt to turbulent market conditions in Asia? Share your thoughts below!💼🌏 👉🏻Follow New To The Street for more! #luxurymarket #richemont #cartier #demand #businessnews #business #news #newtothestreet

The resurgence of daigou shopping is a major challenge for luxury brands in China, undermining control over pricing and distribution. Brands need to rethink their approach to the Chinese market and find innovative ways to counter the impact of daigou’s influence. #DaigouMarket #ChinaLuxury #LuxuryRetail #BrandStrategy

While price hikes are effective in maintaining a brand's exclusivity and appeal, Angelito Perez Tan, Jr., CEO and Co-founder of RTG Group Asia, points out the significance of investing in meaningful client connections and building brand desirability for long-term growth in the luxury market, as featured in this Business Times article alongside other industry experts. https://lnkd.in/gWrq2bYZ