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luxury

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    [LUXURY LAB] [ONLINE] | #JD.com launches #luxury #e-commerce #platform #Toplife | @STYLE

    DE VIVAN CHEN | STYLE | http://bit.ly/2i4D1GO

    #JD.com launches #luxury #e-commerce #platform #Toplife

    Chinese online retailer flexes its muscles in the luxury sector with the launch of its new site, Toplife, rivalling Alibaba’s Luxury Pavilion.

    Chinese e-commerce sites have been warring over who gets the biggest slice of the luxury sector. Following Alibaba’s launch in August of Luxury Pavilion – an e-commerce platform on its TMall shopping site dedicated to high-end, premier luxury brands the likes of Burberry, Hugo Boss and La Mer – JD.com has unveiled today its first-ever luxury online platform called Toplife. Alibaba Group is the owner of the South China Morning Post.

    The site is said to be “an exclusive full-price online shopping platform” that allows brands to sell directly to consumers through a luxury e-commerce ecosystem that incorporates online stores, premium customer service, delivery and marketing, and warehousing and inventory.

    “Our deep understanding of high-end consumers has enabled us to launch a luxury e-commerce ecosystem that provides a truly premium shopping experience, and helps partners tell their brand story to local consumers,” says Richard Liu, chairman and CEO of JD.com, in a statement. “Toplife aims to mirror the offline luxury shopping experience in a premium e-commerce experience.”

    JD.com, luxury, e-commerce, plateform, Toplife

    Toplife, a smart device application, is now available for downloading.

    So far, six luxury brands including La Perla, Rimowa, B&O Play, Trussardi and Emporio Armani have joined the Toplife platform. JD.com suggested in the statement that more brands will be joining the platform, including ones that will be launching their first ever online stores in China.

     

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    [LUXURY] | #Luxury #Brands Are In Danger Of Losing American #Millennials | @Forbes

    FROM PAMELA N. DANZIGER | FORBES | http://bit.ly/2gZkH16

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    @Hermes_Paris : Morphing into a #megabrand | via Luca Solca Exane BNP

    JANUARY 2017 | LUCA SOLCA | EXANE BNP

    HERMES INTERNATIONAL: HERMES MORPHING INTO A MEGA- BRAND

    [TO CONTACT US]

    The Hermès paradigm (as we saw it)
    Over time, Hermès has built a most enviable position in the luxury goods industry (The Epitome of Modern Luxury). This - in our view - was built on four pillars: 1) frustrating demand for its iconic leather models; 2) using adjacent product categories to provide accessible entry price points (Entry Price Points and the real Nature of Luxury Goods), while keeping the core leather products expensive and out of reach (Category Segregation); 3) sticking to organic growth and avoiding acquisitions; and 4) maximising retail space productivity and ROIC.

    Hermès is changing ...
    Hermès seems to be moving away from its tried-and-tested formula of frustrating demand for its iconic products. It has, in fact, increased leather goods manufacturing capacity over the past few years. The principle of 'category segregation' also seems to have been discarded, as consumers can buy Hermès handbags at significantly lower prices and just north of EUR1,000. These are not Birkin or Kelly, obviously, but they are still Hermès handbags: Evelyne, Garden Party, Picotin, etc.

    ... and morphing into a Mega-Brand
    We think that 'demand frustration' and 'category segregation' were the two traits that set Hermès apart from mega-brand peers. With these gone, the 'genetic difference' between Hermès and - say - Louis Vuitton is more difficult to identify. Hermès is still more desirable in the eyes of some consumer nationalities (Measuring Brand Exclusivity and Desirability - China), but this seems more a difference in 'intensity' than in 'nature' as other consumers seem to have the opposite perception (Measuring Brand Exclusivity and Desirability - France).

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    Behind Hong Kong’s Failing Appeal as a Luxury Destination | #HK #luxury

    FROM OBSERVER.COM | BY JEENA SHARMA | JANUARY, 03 2017

    Chinese shoppers are no longer blinded by bling, visitors can get better deals elsewhere

    The latest dent in Hong Kong’s flailing retail market came with U.S. clothing brand Abercrombie & Fitch calling time on its flagship store two years before the end of its lease.

    The city, which has witnessed a consistent luxury slump since 2013, saw many major brands such as Ralph Lauren, Forever 21, Prada and Paul Smith pull out flagships earlier this year. Italian luxury clothing and accessories label Tonio Lamborghini also shut more than 10 of its stores and in-store counters in the city. Official Hong Kong government data shows a consistent decline in retail sales since 2013 through 2016, when sales reached their lowest point. While Abercrombie & Fitch, which is battling with its own financial instability, blames exorbitant rents (HK$7 million ($0.9 million in monthly rent) as the prime reason, for other brands the picture is less clear.

    With the amount of Mainland Chinese shoppers the city was host to, Hong Kong was once hailed as the ‘Great Mall of China.’  However, Chinese shopping tourism hit a major lull post the anti-corruption crackdown initiated by President Xi Jinping in 2012. The initiative, intended to eliminate corruption of  high profile Chinese government officials had the biggest negative impact on the retail market, particularly in luxury. The high exchange value of the Hong Kong dollar further contributed to the weakening of  the city’s position as a retail destination, as the territory price advantage gradually diminished for Chinese tourists.

    “Shopping in Hong Kong is no longer a bargain for Chinese tourists. The traveling Chinese consumer is now opting for alternative destinations like South Korea, Japan, or Greece. These are places with a little bit more character, a distinct point of view, or places that offer experiences beyond shopping,”  Saisangeeth Daswani, Advisory Strategist at innovation and trend research corporation, Stylus, told Observer.com.

    The evolving tastes and aesthetic of the Chinese consumer seem to be another important factor responsible for the retail shift. While Hong Kong offers some of the best-known designer stores in the world, it fails to attract the increasingly sophisticated and well-informed shoppers from abroad. Both domestic and foreign consumers in the city have become smarter about where to find products for the lowest prices and demand more in return for their money.

    “What’s key for luxury brands in Hong Kong is to consider the consumer’s changing mindset and offer more immersive, unconventional and discovery-based experiences,” said Daswani. “The luxury brands have been too focused on products, prices and sales. Consumers want more from their purchases than simply getting their hands on the latest accessory, they want an experience, a story to tell.”  Studies indicate that Chinese consumers now look to distinguish their choices from the most obvious mainstream brands and regular edition products. Flashy logos and shiny watches just don’t hold as much appeal as they did anymore.

    “The Asian consumer’s style sense is evolving, and their fashion purchasing behavior is becoming more European. The appeal of the preppy look is diminishing and people don’t see the need to buy luxury when attractive premium brands offer similar looks,” agreed Jaana Jätyri, CEO at trend forecasting agency, Trendstop.

    louis vuitton, fashion, luxury, hong-kong

    Since most of the luxury category brands are only accessible to the Chinese shopper who is able to travel beyond China, many have opted to simply shop online, much like the American consumer.

    Prada, which also closed much of its primary stores in the city, indicated the brand will now cater to the Chinese market through e-commerce. “The Hong Kong closure is part of a worldwide, strategic realignment of brand retail channels. Over the next two years, Prada will strengthen its own e-commerce platform, giving priority to China, Hong Kong and Singapore with the objective of achieving global reach,” an official spokesperson for the company told the Observer.

    prada, fashion, luxury, hong-kong

    While this could eventually strengthen a new shopping model for the country, unfortunately it means more woes for Hong Kong’s traditional retail market. However, Daswani believes all hope is not lost. As retail rents in Hong Kong continue to fall as a result of high end departures, mid-market, ‘contemporary fashion’ and affordable luxury brands are jumping in. Moreover, analysts predict that if the exchange values of the HK dollar stabilize in 2017 leading into increased consumer confidence, retail sales may slowly recover during 2018 in Hong Kong, albeit in a different kind of retail store.

    Whether the city will regain its status as a hot shopping heaven, only time will tell. As of now, an overall uncertainty clouds the Hong Kong luxury market, and it’s up to the retailers to adapt to the new consumer interests and adjust to this broadening notion of luxury. Elsewhere, shoppers are experiencing a rise in customization offers, one offs, local exclusive pieces, limited editions and in-store exclusive events, Hong Kong retailers may need to catch up.

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    In 2017’s, #luxury brands will have to work a lot harder to sell their pricey goods | @adetem @

    FROM QUARTZ MEDIA LLC | WRITTEN BY MARC BAIN | 24 JANUARY, 04 2017

    Last year was a bad one for many companies selling expensive fashion, handbags, and jewelry. For the first time since the financial crisis of 2008, the global market for personal luxury goods failed to grow, stalling at €249 billion (about $258 billion).

    luxury, china, fashion, growth, bnp, exanebnp

    The good news is that 2017 should see a return to growth, according to a Dec. 28 report on the global luxury market by management consulting firm Bain & Company, only it won’t look anything like the boom years from 2010 to 2015, when global sales of such goods jumped 45%, fueled by Chinese consumers with high-end appetites. The slowing of China’s economy and its government’s ongoing crackdown on corruption, paired with turmoil in the US and Europe from Brexit, terrorism, and the US presidential election, have created a “new normal” of low single-digit growth and intense competition. The years ahead will produce “clear winners and losers,” Bain says, determined by which brands can read the field and respond best.

    China is at the center of this shift. Today Chinese shoppers account for 30% of all sales of personal luxury goods. While Bain foresees the Chinese market improving again after contracting slightly in 2016, it isn’t likely to return to its former rate of expansion, which insulated brands’ bottom lines from other problems. “We expect around 30 million new customers in the next five years coming from the Chinese middle class,” Claudia D’Arpizio, a Bain partner and lead luxury analyst, told Quartz in an interview last year. “But this is nothing comparable to the past big waves of demographics entering [the market]. This new normality will mean mainly trying to grow organically in the same consumer base, being more innovative with product, more innovative with communication.”

    Exane BNP Paribas echoed the thought in a December research note to clients. “The peak of the largest nationality wave ever to benefit luxury goods is behind us,” the authors wrote. “Brands need a new paradigm, other than opening more stores in China and bumping up prices.”

    The period luxury is entering could see some of its slowest growth since it started opening up to a mass audience around 1994. That was the year, D’Arpizio noted, that “the jeweler of kings and queens,” Cartier, launched its first lower-priced line for mainstream consumers. Other brands followed in search of greater sales, and names “like Gucci, Prada, also Bulgari were really growing, doubling size every year, sometimes triple-digit growth rates, opening up to 60 stores every year and covering all the capitals across the globe,” she said.

    Around 2001 came another period of expansion when brands became global retailers, not just selling wholesale, amid a spate of acquisitions that would eventually create today’s giant luxury conglomerates, including LVMH and Kering (previously Gucci Group). By the time of the financial crisis, luxury had conquered much of the US, Europe, and Japan, and then China came along to offer more unfettered growth.

    There’s no new China, however, at least not now. The next big luxury market is likely Africa, particularly countries such as Congo, Angola, and South Africa. But D’Arpizio estimated this scenario won’t come about for seven to 10 years, meaning only moderate expansion for some time.

    “In the new normal, we expect a compound annual growth rate (CAGR) of 3% to 4% for the luxury goods market through 2020, to approximately €280 billion,” Bain’s report says. “That is significantly slower than the rapid expansion from the mid-1990s to the late 2000s.”

    Other characteristics of this new period include more shoppers making purchases at home. Last year, local purchases exceeded tourist purchases by five percentage points, the first time since 2001 that has happened.

    And digital sales will keep growing. Last year they accounted for 8% of the industry.

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    #Skincare | #Chanel uncovers powerful plants in global tour | @cosmetics @Chanel

    FROM LUXURY DAILY | FROM SATRAH JONES | JANUARY 5, 2017

    France’s Chanel is exploring the anti-aging secrets of three far-flung populations with a shared claim.

    The beauty brand’s newly released Blue Serum took inspiration from Blue Zones around the world, places where the locals live remarkably longer lives. In an effort to prove the claims of its product, Chanel is inviting consumers to journey to these locales in a series of short films.

    Chanel was reached for comment.

    FEELING BLUE

    Chanel’s Blue Serum is being touted by the brand as “a new horizon for skincare.”Explaining the inspiration and ingredient sourcing for this serum, Chanel filmed travel diaries to the Blue Zones that contributed to the product.

    Against footage taken in Costa Rica, a female narrator says, “You can feel the life force in everything and everywhere.” Portraying this energy are images of waterfalls amid greenery.

    chanel, blue serum, skincare, costa rica

    Still from Chanel's Blue Serum film

    The voiceover explains how Costa Rica’s green coffee can only be found in the country, which may contribute to the locals’ long lives.

    In Italy, the Mediterranean locale is said to be the home of centuries’ old olive trees.

    Chanel turns its attention to the sun in Greece, which it says is in everything. This includes soil, plants and the lentisk tree.

    chanel, blue serum, skincare, costa rica

    Discover the Power of Blue Serum - Chanel

    All videos include the statement, “It’s something special. Some call it a mystery. It’s just life.”

    These ingredients—sourced from Nicoya, Costa Rica; Sardinia, Italy and Ikaria, Greece, all hold antioxidant properties. According to the brand, a trial found the serum to reduce wrinkles, even skin tone and firm skin.

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    #Burberry added fuel to the conversation surrounding the "see-now, buy-now movement" | @buberry @adetem #luxury

    ARTICLE PARU DANS LE LUXURY DAILY | DECEMBER 2016 

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    Burberry's early adoption

    British fashion label Burberry came in behind Chanel [2016 LUXURY MARKETER OF THE YEAR],  placing as second runner's-up for its first-mover status.

    Burberry added fuel to the conversation surrounding the see-now, buy-now movement, announcing early in the year that it would be changing its runway show schedule. This move consolidated its presentations to two a year, showing men's and women's collections together (Burberry updates fashion calendar to meet global demand).

    The brand also took a different move when it enlisted Brooklyn Beckham to shoot a campaign, having the teenage son of David and Victoria Beckham capture the experience on Snapchat (Burberry targets younger market using Brooklyn Beckham, Snapchat).

    Burberry was became the first fashion label to create an Apple TV app, becoming the first brand to broadcast a fashion show on the platform (Burberry launches on Apple TV with menswear show live-stream. When launching the fragrance My Burberry Black, Burberry took advantage of a bevy of newer social media tools, such as Instagram Stories and a Snapchat filter, to create a mood around the scent.

    While unseated by Gucci in this year's L2 rankings, Burberry was positioned in second place, also showing Genius-level sill in digital.

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    #Chanel has made itself more relatable to consumers without sacrificing its prestige | @Chanel @adetem

    ARTICLE DU LUXURY DAILY | DECEMBRE 2016

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    First runner’s-up Chanel has made itself more relatable to consumers without sacrificing its prestige.

    The brand made moves to appeal to a younger audience, casting teens Lily-Rose Depp and Willow Smith in separate ad campaigns.

    With a continued focus on video content, Chanel introduced five new films in its “Inside Chanel” series. The brand also launched a new series of unscripted Beauty Talks, inviting personalities such as Gisele Bündchen and Keira Knightley to talk makeup and skincare with its global creative makeup and color designer Lucia Pica.

    Chanel, luxury, fashion, luxury daily

    Chanel’s social media efforts helped the brand top Brandwatch’s rankings of fashion companies, thanks to visibility and increased reach (Chanel, Lexus top social media performers in fashion, automotive fields). The same researcher also found it to be the most reputable brand on social media (Chanel most reputable brand despite low sentiment: report).

    The brand also got a nod in the beauty space, with an MBLM report finding it to be the most successful at creating intimacy and an emotional connection with followers (Chanel ranks at top of beauty industry’s brand intimacy chart: report).

    A key indicator of brand positioning and desirability, Chanel is one of the highest sellers on the secondhand luxury site The RealReal (Chanel, mega-brands dominate resale market as new sectors surge: report). Chanel was also one of the only brands to record growth in value in Millward Brown’s BrandZ report (Louis Vuitton, Hermès and Chanel only houses to record growth: report).

    Chanel, luxury, fashion, luxury daily

    Aside from its desirability as a brand to own, Chanel was named the most coveted place to work in a survey of millennials conducted by Women’s Wear Daily (www.luxurydaily.com/louis-vuitton-hermes-and-chanel-only-houses-to-record-growth-report/.

    Alongside digital efforts, Chanel courted younger clients with a backstage-themed pop-up. The brand also branched out into the conceptual, curating a daily content hub with i-D magazine (Chanel, i-D magazine advocate for female artistic talent on daily content hub).

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    Gucci is 2016 Luxury Marketer of the Year | @Gucci @adetem

    Italian fashion label Gucci is Luxury Daily’s 2016 Luxury Marketer of the Year for its revamped advertising image under the creative direction of Alessandro Michele.

    Gucci won over first runner’s-up Chanel and second runner’s-up Burberry. All three brands were able to adapt and connect with a new generation of consumers while not losing focus on their luxury positioning.

    The Luxury Marketer of the Year award was decided based on luxury marketing efforts with impeccable strategy, tactics, creative, executive and results. All candidates selected by the Luxury Daily editorial team and from reader nominations had to have appeared in Luxury Daily coverage this year. Judging was based purely on merit.

    Gucci made over

    2016 marked the first full year with Mr. Michele at the head of Kering-owned Gucci. Aside shifting the brand’s apparel and accessories design, he has made his mark on the brand’s marketing, replacing an overt sex appeal with a more romantic femininity.

    This included a new effort for Gucci Guilty starring Jared Leto that portrayed a subtle sexuality (Gucci’s visual representation of fragrance hopes to shatter society norms) and ensemble runway collection campaigns shot in destinations such as Berlin, Tokyo and Britain’s Chatsworth House.

    gucci, cruise campaign, chatsworth house, luxury, luxury daily

    Playing off motifs created by Mr. Michele, Gucci unveiled a series of artistic initiatives that deconstructed these themes. Its customizable Ace Sneaker was the subject of creative short films, while its codes became the basis for a multiplatform project that spanned a physical space in Tokyo and online mediums (Gucci makes room for reinterpreting brand codes).

    Allowing consumers to put their own spin on these new icons of the brand, Gucci also launched customization programs for select products.

    During 2016, Gucci opened new headquarters in Milan, centralizing a number of operations in a repurposed aeronautical factory. This Gucci Hub will serve as a location for fashion shows and acts as a physical representation of its changing aesthetic (Gucci takes nontraditional office approach for multipurpose Milan headquarters).

     

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    #Luxury #Shoppers Crowd #London for #Brexit bargains [@adetem @LuxuryDaily]

    NOVEMBER, 30, 2016.

    London: While the prospect of Brexit is weighing on much of the British economy, tourism and luxury goods businesses are cashing in on bargain-hungry visitors lured by the slide in the pound.

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    London’s tourism agency says sales of goods eligible for sales-tax exemption have gone up by a third since the Brexit vote in June, which sent the pound sterling plunging against the euro and dollar. ”We calculated that over the last four months it’s been about 12% cheaper for Europeans to come and shop here,” said Chris Gottlieb, head of leisure marketing at the agency London & Partners. The pound is now at 1.17 euros compared with 1.3 euros before the shock vote to leave the European Union, while it has also fallen to US$1.25 from US$1.49. The result is that London has become the cheapest city for luxury goods shopping in the world in dollar terms, according to a study by Deloitte.

    ‘GOING TO SPEND MUCH MORE’

    In tourist areas, the effects are evident. ”We’re going to spend much more money than we planned to,” said Radostina Nonova, a Bulgarian tourist, laughing as she lugged her bags on Carnaby Street - in the heart of London’s shopping district. ”We didn’t plan to shop too much but it’s obvious that the prices are very good for us. ”So we shop and we can afford to eat and drink outside. That was not possible years ago,” she said.

    French tourist Christophe Disic said he did not come just because the pound was low but “when we changed our money we realised we had a few more pounds for fewer euros”. When speaking to US tourists, shopkeepers are quick to take out their calculators. ”We’re an American brand. Our products are designed and assembled in the States. But with the weakening of the pound it actually happens to be cheaper for the American tourists to buy an American product in London,” said Denis Sagajevs, who works in Shinola, a shop selling watches and leather accessories. ”It’s affected by the fact that they can claim VAT on their way back. We pretty much on a day-to-day basis explain that to customers from the States. It happens to be quite a strong sales driver,” he said.

    50 PER CENT INCREASE IN SHOPPERS

    Some shops are adapting their advertising and sales tactics to the new consumer behaviour. ”Before the vote, European tourists were couples who came to be together and maybe bought a couple of things,” said James, the manager of a luxury men’s clothes shop on Carnaby Street. ”Now, there are groups of friends who rush in. They grab everything they can carry.” James estimated that European and US shoppers coming to his store have increased by around 50%. Instead of spending on costly advertising in British newspapers as it did before, his firm is changing tactic to appeal more to overseas visitors. They have put up signs outside Underground train stations near the shop.

    But there are doubts about how long the boom can last. While the good health of the British economy was confirmed by solid growth of 0.5% in the third quarter, the official forecasts for 2017 have been lowered to 1.4% from 2.2%. ”Our British customer sales are not as strong as before the vote and we don’t even know if this tourism boom is going to last,” James said. - AFP