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0 · Shock of the New Chic: Dealing with New Complexity in the
1 · Luxury Fashion & Retail Consulting
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Shock of the New Chic: Dealing with New Complexity in the
BCG’s luxury goods consultants help clients to rightsize spending and prioritize digital and .
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BCG’s luxury goods consultants help clients to rightsize spending and prioritize digital and personalization efforts in both the front and back of the house—while still investing in long-term brand equity.
François-Henri Pinault, chairman and CEO of Gucci parent company Kering, explained it this way to Jing Daily: “Gucci is having to contend in China with a growing gap between consumer spending in major urban centers like Shanghai and Beijing and in secondary cities where luxury brands are still a novelty.” 10 10 “ What Gucci’s New . The End of Luxury’s Golden Era. The crisis has slowed a decade of growth across luxury categories that was buoyed by a bullish global economy and the relative affluence of Chinese consumers, who in recent years accounted for 35% of luxury purchases worldwide. The global personal luxury goods market, of which Gucci is a major player, has grown in value substantially in recent years, rising from 147 billion euros in 2009 to 362 billion euros in 2023.
The study, produced by two powerhouses in luxury circles, Boston Consulting Group (BCG) and Altagamma, completes their sixth annual survey covering more than 12,000 respondents in ten leading. Beyond Shanghai, the agreement means new stores for Gucci and other Kering brands in five of these fast-rising urban centres, a nod to the changing face of China’s luxury market.
ombine people skills and data. In this new scenario, True-Luxury consumers will greatly appreciate digital personalization (examples include Gucci Live and Galeries Lafayette's Live Shopping). 46% of respondents stated that they would be more appreciative of personalized digital clienteling in the future, above all Chinese (76. Our research, based largely on consumer surveys we’ve conducted over the past few years, sheds light on consumers’ shopping habits and the critical steps fashion companies can take to capitalize on the rapidly expanding secondhand market. 1 / 12. Gucci is one of luxury’s megabrands with more than €10bn in annual sales, but it has been outpaced in recent years by rivals such as LVMH’s Louis Vuitton and Chanel. Gucci disrupts luxury’s top three in the Vogue Business Index. In a year of shake-ups and solid ground, the Winter 2023/24 rankings prove that materialised change, strong heritage and digital direction are luxury’s game changers. By Vogue Business Custom Insights Team. January 25, 2024. Artwork: Vogue Business.
BCG’s luxury goods consultants help clients to rightsize spending and prioritize digital and personalization efforts in both the front and back of the house—while still investing in long-term brand equity. François-Henri Pinault, chairman and CEO of Gucci parent company Kering, explained it this way to Jing Daily: “Gucci is having to contend in China with a growing gap between consumer spending in major urban centers like Shanghai and Beijing and in secondary cities where luxury brands are still a novelty.” 10 10 “ What Gucci’s New . The End of Luxury’s Golden Era. The crisis has slowed a decade of growth across luxury categories that was buoyed by a bullish global economy and the relative affluence of Chinese consumers, who in recent years accounted for 35% of luxury purchases worldwide. The global personal luxury goods market, of which Gucci is a major player, has grown in value substantially in recent years, rising from 147 billion euros in 2009 to 362 billion euros in 2023.
Luxury Fashion & Retail Consulting
The study, produced by two powerhouses in luxury circles, Boston Consulting Group (BCG) and Altagamma, completes their sixth annual survey covering more than 12,000 respondents in ten leading. Beyond Shanghai, the agreement means new stores for Gucci and other Kering brands in five of these fast-rising urban centres, a nod to the changing face of China’s luxury market.ombine people skills and data. In this new scenario, True-Luxury consumers will greatly appreciate digital personalization (examples include Gucci Live and Galeries Lafayette's Live Shopping). 46% of respondents stated that they would be more appreciative of personalized digital clienteling in the future, above all Chinese (76.
Our research, based largely on consumer surveys we’ve conducted over the past few years, sheds light on consumers’ shopping habits and the critical steps fashion companies can take to capitalize on the rapidly expanding secondhand market. 1 / 12.
Gucci is one of luxury’s megabrands with more than €10bn in annual sales, but it has been outpaced in recent years by rivals such as LVMH’s Louis Vuitton and Chanel.
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bcg gucci|Luxury Fashion & Retail Consulting
