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Luxury

How Luxury Brands Aim to Keep the 2% Coming Back for More

Exclusive labels are lavishing top-spending clients with special events as luxury’s customer base shrinks.
Mytheresa held a client event in Turin.
Mytheresa and Zegna held a client event in Turin. (Lucas Possiede)
By
BoF PROFESSIONAL

Aqila Agha has been buying large quantities of Gucci products for 30 years, first dressing her daughters, now 17 and 21, in the storied Italian fashion label when they were infants. She sometimes purchases an entire Gucci collection and has a personal stylist at the brand’s corner in Harrods.

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Further Reading

Case Study | Selling Luxury to the 1%

The ultra-wealthy are spending more on luxury than ever before — and, amid a broader market slowdown, winning them over is becoming a competitive battleground for brands. BoF breaks down how strategies from Gucci, Mytheresa and Tiffany & Co. are successfully building closer relationships with top clients.

Executive Memo | Luxury Has a Pricing Problem. What Now?

Steep price hikes have put pressure on big luxury’s value proposition, contributing to the sharp downturn in demand for luxury megabrands this year. Smart executives will take action to rebalance the price-value equation — and fast.

The Great Fashion Reset | Can Designer Revamps Save Fashion?

Brands are betting big on creative reboots across the luxury industry including Dior, Chanel, Gucci and more. But sticking the landing on an aesthetic refresh is easier said than done, and a new generation of creative directors face the same systemic challenges that stymied predecessors.

About the author
Eric Sylvers
Eric Sylvers

Eric Sylvers is Milan Correspondent at The Business of Fashion. He is based in Milan and leads BoF’s coverage of all things Italian.

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