Jonas Hoffman: Why Consumers Of Luxury Goods Come From Emerging Markets
SKEMA Business School Professor discusses who is actually buying high-end products.
The luxury industry is currently on a remarkable journey. Quarter after quarter, Hermès, Louis Vuitton, Gucci et al. announce record sales in a growing market with profits in double-digits. Luxury companies, nevertheless, affirm unanimously that this journey is as challenging as it is exciting. The acceleration imposed by globalized markets, stock markets and digital technologies to name but a few factors, demands velocity, agility and continuous adaptation.
What trends are shaping the industry?