European luxury conglomerates serve as bellwethers for the wider industry, and the first-quarter revenue results have provided insight into both the strengths and weaknesses of the sector, shedding light on the preferences and behaviors of luxury consumers worldwide as well as why some brands continue to defy the slowdown gripping the industry.
In this episode of Luxury Roundtable's Luxury Stance Podcast, cohosts Mickey ALAM KHAN and Scott Kerr, president of Silvertone Consulting, discuss a presentation at the recent Luxury Marketing Summit by former LVMH North America chairman Pauline Brown and how successful brands such as Prada, Miu Miu and Hermès understand the power of creating desire and making consumers 'feel alive.'
Hermès consistently outperforms its rivals, stressing continued consumer desire for its products and also the craftsmanship and quality of materials that are hallmarks of the brand. Image: Hermès
The duo also discuss how Kering's flagship Gucci fell from its rarefied perch by taking its eye off the brand and embracing a singular trend.
Also discussed is the delicate balance for luxury brands to appeal to both the wealthy and the aspirational consumers and applying the Hermès model to other luxury brands.
Plus: an overview of the packed agenda at Luxury Roundtable's upcoming Luxury Women Leaders Summit on June 13 in New York.
Please click or tap here to listen to the podcast.
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