It is not just reputation or cultural credibility on the line. Brands stand to lose millions in potential profit by failing to do their due diligence as increasingly unforgiving customers vote with their wallets. Take what happened this year to Burberry, Gucci and Dior.
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As the cosmetics business innovates in an effort to help consumers explore products digitally, 2019 showed the continued importance of the bricks-and-mortar environment for beauty retail.
Heading into 2020, luxury marketers need to balance democratization with brand protection to capture the up-and-coming consumer without tarnishing their prestige image.
Elsewhere in luxury – Aston Martin: fender bender; Art guarantees dip 18pc in 2019 amid slowing art market; The modern appeal of black lipstick; Barneys’ bitter end: Longtime employees speak of what’s next and what will be missed.
As the Chinese market matures, major luxury brands can no longer win merely by holding a presence in the market.
Heading into 2020, luxury marketers need to balance democratization with brand protection to capture the up-and-coming consumer without tarnishing their prestige image.
Heading into 2020, luxury marketers need to balance democratization with brand protection to capture the up-and-coming consumer without tarnishing their prestige image.
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As gender norms continue to relax among the Chinese youth, sporting an It bag is increasingly indispensable to the total look of a Chinese male fashionista.
