The global luxury industry, long reliant on the wealthiest clientele, is facing a critical crossroads. As prices soar, even the affluent are beginning to feel the pinch, particularly in key markets like China. Luxury brands, which have historically thrived on exclusivity and high margins, are now confronting the dual challenge of maintaining their elite status while appealing to a broader, more aspirational customer base. The question at the heart of the industry’s future: Can luxury remain exclusive without pricing itself out of the market?
Tag: Business Strategy
ESG: A Corporate Facade or a True Commitment?
Let me begin by asking you a question. How many of these boxes have you checked? A donation box right next to the billing counter, asking you to chip in for an NGO every time you visit the supermarket. Coffee cups with bold, eco-friendly labels declaring they’re made of recycled material, justifying those extra cents in charges. Every clothing brand telling you they’ve used “sustainable” cotton, while you pay a premium for it. Does this sound familiar?