Chanel has been able to maintain its place as a beloved and revered luxury brand by emphasising craftsmanship, exclusivity, and quality, while also prioritising its loyal customers. How can luxury brands sustain heritage appeal and an image of exclusivity while also courting new customers?
Chanel has announced the launch of boutique stores dedicated to serving its VIP customers. While the e-commerce and resale markets are helping to democratise luxury, these brick-and-mortar spaces aim to attract HNWIs with the promise of exclusivity and personalised support.
French fashion house Chanel is looking to reinforce its position at the top of the luxury market with plans to impose purchase limits on specific goods. As high-end shoppers look for more value from their purchases, some brands are emphasising exclusivity, quality, and a timeless appeal.
The Telfar Shopping Bag may not be as recognizable or as expensive as iconic designs from Chanel or Dior, but it has become just as coveted among fashionistas. It’s attracted young shoppers with the chance to be part of an inclusive community, rewriting the rules of the ‘It bag’ in the process.
The luxury market is one of the few sectors that remains unaffected during a recession. While some statistics suggest that stock prices in luxury companies fall across the board, others show rising sales figures in times of financial downturn. Unlike so many other sectors, is luxury recession-proof?