China’s Middle Class: the Savior for Coach’s Flagging Sales. Chinese actress Zhu Zhu in an ad for Coach.
KORS in China: "Expensive but not too expensive" hits the sweet spot for sales — Quartz. Michael Kors is in good spirits.
The seller of relatively affordable luxury clothes and handbags reported today (June 1) that its total sales for the year rose 7.8% to $4.7 billion. Long a mall and department store staple, the brand is thriving even as those US retail institutions suffer. John Idol, the brand’s CEO, noted two important new strategies on a call with analysts this morning: One is that Michael Kors is deliberately pulling back on its wholesale business to department stores. The other is that it’s ramping up its business in Asia, especially in China. As far apart as those two moves may seem, they aren’t unrelated.
Sales in Asia increased an impressive 216.4% in the fourth quarter, reaching $65.5 million. Affordable luxury comes to the fore in China- Chinadaily.com.cn. Popular or Overexposed? Michael Kors Walks Thin Line. Handbag maker Furla expands in Asia. MyiLibrary. Cambridge bakers say 'affordable luxuries' can buck trend. A couple who saved a 90-year-old bakery after it went into administration say firms providing affordable luxuries can thrive, despite the economic slump.
Fitzbillies in Cambridge, which is known for its Chelsea buns, counts Stephen Fry as a fan. Owner Tim Hayward said: "No matter how tough things get, we are working in the area of affordable luxuries. "Our last affordable luxury will be a sticky bun and a cup of coffee, when everything else goes to the wall. " The shop was described by an independent traders' organisation as "part of the DNA of Cambridge for 90 years". When it was forced to close early this year, ex-Cambridge student Stephen Fry used his Twitter account to voice concerns that a great city tradition was to be lost. Mr Hayward and his wife Alison Wright invested £100,000 of their own money into renovating and reopening the cafe. Well off is the new poor. The pressure to emulate the lifestyles of the super-rich has left Britain's middle classes suffering from 'luxury fever', according to a new study.
Nearly half of those earning more than £35,000 a year said they couldn't afford items they considered "essential", such as luxury cars, cosmetic surgery and state-of-the-art homeware. Author of the study Dr Clive Hamilton - who is a visiting scholar at Cambridge University - said the "suffering rich" felt poor and were racking up debt while losing out on quality of life. Dr Hamilton told BBC News Online that the government's tax-cutting policies towards the middle classes were as much to blame as the modern-day media obsession with the luxury lifestyle of celebrities.
Social class. Coach: Bagging The Affordable Luxury Business. [解读]什么是“轻奢”? 她和奢侈品、快尚有什么区别?-搜狐. Leisure eNewsletter - August/September 2005: Affordable Luxury, the new consumer paradigm. A major shift has occurred in consumers' buying behavior that is having a dramatic impact on all consumer businesses.
David Brooks, in his 2001 book, Bobos in Paradise, first identified the trend among what he called the bohemian bourgeois class. Then, in 2004, Michael J. Silverstein, a senior VP of the Boston Consulting Group (BCG), and Neil Fiske, now CEO of Body & Bath Works, picked up where Brooks left off with bobos in their book, Trading Up: Why Consumers Want Luxury Goods. Mulberry's return to affordable luxury. Fashion Accessories - UK - January 2016.
Brand rethink. Consumer products executives are confronting a bitter truth: conventional recipes traditionally used for profitable growth no longer are enough.
As the marketplace undergoes a rapid transformation, it’s forcing leading brands to rethink everything—from where and how they compete to what capabilities they will need to thrive in this new world order. The fast-changing world of consumer products is at the confluence of a number of significant trends. Declining populations in developed markets top the list.
In Japan alone, the population is expected to shrink by 5% over the next 15 years. At the same time, economic turbulence has curtailed consumer spending, limiting the traditional pattern of continually trading up to more expensive products. These trends create distinct challenges for companies trying to take full advantage of global opportunities. Masstige 我的平民时尚！-搜狐女人. Five Different Types of Luxury Brands - Agence LuxuryAgence Luxury. 一秒钟变绅士淑女！那些好用不贵的轻奢侈品(组图)-搜狐滚动. 轻奢品牌有哪些_百度知道. Top 5: Accessible American Luxury Brands. On Friday and Monday, WikiLeaks published more than 30,000 emails revealing the inner machinations of Hillary Clinton’s presidential campaign, especially as she sought to outmaneuver Bernie Sanders on trade and Wall Street during the contentious primary.
The bombshell recording of Donald Trump's hot-mic comments on his desire to "f—k" a married woman and grope women overshadowed the leak initially. And questions have been raised by some, including Newsweek's Kurt Eichenwald, about whether the emails were subsequently falsified by the Russian government to influence the U.S. election. Clinton spokesperson Brian Fallon took a dig at the media's interest in the trove and suspicion that Russia was behind the hack by tweeting on Friday: "Striking how quickly concern abt Russia's masterminding of illegal hacks gave way to digging thru fruits of hack. Just like Russia wanted. " Here are some of the biggest revelations in the emails: How luxury brands try to straddle the accessible-exclusive divide. There’s a fine line for luxury brands balancing a tradeoff between the accessibility of digital and the exclusivity of something that’s meant to be special.
“Many luxury brands have a 200-year-old heritage,” said Dan Hagen, chief strategic officer at Carat, who notes that the biggest challenge for incumbents is keeping up with digital media channels. “A big change is in the corporate culture of becoming more transparent and taking a more experimental approach.” The trouble is that this transparency is at odds with many luxury brands’ cultural heritage.
Advertisement. Accessible Luxury Brands Ride China's Middle-Class Wave. What is ‘accessible luxury’ supposed to mean? This week, The Independent’s Alexander Fury asked, ‘What does accessible luxury mean, for those unschooled in fashion’s unique, often meaningless, verbiage?’
He was talking about designers such as Tory Burch, Michael Kors and Kate Spade who have the overall feel of a luxury brand, but make the majority of their money selling clothes and accessories which are anything but, what Fury rather disparagingly calls, ‘status symbols on the cheap.’ There is, of course, nothing wrong with this. Fashion and luxury brands have always made the majority of their money sticking logos onto quite ordinary lipsticks, perfumes and accessories. It’s the egregious use of a once perfectly good word, in this case, ‘luxury’ that rankles. Bridge brands challenge high-end fashion. "Men always take the best they can get" Samuel Johnson For some time now, luxury brands have struggled to maintain their elite status, which is no easy feat, especially in the current economic landscape.
This task becomes increasingly difficult with the affordable luxury brands, the so-called "bridge" brands, challenging high-end fashion with products that are more available in terms of price and have an appeal to the new, millenial customers. If the political system caught the democratization bug fairly early, the luxury paradigm has been highly discriminatory until fairly recently, steadily relying on the elite to constitute the bulk of its consumers.
Nowadays, it looks like things are changing and the post-industrial economies are conditioning the democratization of high-end consumption, broadening the scope of their clientele and appealing to the younger, millennial consumer. Satus symbol vs. New retail models for the new consumer. Affordable luxury brands are booming in popularity - latimes. Bets on the top-performing retailer this holiday don't favor the storied haute couture companies — not Chanel with its $4,500 handbags, nor Neiman Marcus and its $150,000 bespoke falconry set. Instead, it's Michael Kors Holdings — an American sportswear brand from a sassy former "Project Runway" judge — that's roundly predicted to crush Christmas. The company is what's known as a bridge brand, operating on the low end of luxury. Its handbags generally cost less than $500. Affordable Luxury: The New Fashion Jewellery.
On the trend: when women are looking for quality and affordable luxury fashions, ABS by Allen Schwartz is their one-stop shop. LUXE LIFE: IT MAY BE CALLED ACCESSIBLE LUXURY, BUT TO SHOPPERS CHECKING OUT NEIGHBORING COACH AND COLE HAAN STORES IN MANHATTAN LAST WEEK, THE REALITY IS STILL PRETTY EXPENSIVE. THE NEW LUXURY CRAZE: AS CONSUMERS CONTINUE TO SEEK TRENDY, HIGH-QUALITY FOOTWEAR AT COMPETITIVE PRICES, A GROWING NUMBER OF FOOTWEAR BRANDS ARE CASHING IN ON A BURGEONING SEGMENT OF THE HIGH-END MARKET KNOWN AS ACCESSIBLE-LUXURY. THE PRICE IS RIGHT: WHAT MAY SEEM LIKE AN EASY FORMULA IS ACTUALLY A TOUGH EQUATION FOR BRANDS LOOKING TO TAP INTO THE NEW ACCESSIBLE-LUXURY MOVEMENT. Image of Luxury Brands. THE NEW LINE. Affordable luxury brands are booming in popularity - latimes. Coach: How One Brand is Navigating the Affordable Luxury Paradox. Over the past 10 years, rapidly changing conditions in the luxury market have been leaving more room for younger, more accessible brands.
Coach and its direct competitors like Michael Kors and Kate Spade have jumped at the opportunity and taken advantage of a growing market for quality, yet affordable leather goods. These brands have chosen to walk a fine line between a desire to be exclusive – and covet the “True Luxury” label – and a desire to reach out and attract new customers with more accessible products. But is the siren song of the ‘affordable luxury’ market a trap? Suffice it to say that it’s both a paradox and a risk that brands like Coach have chosen to take. In fact, once upon a time, Coach was a trailblazer in this arena. Why COACH, Michael Kors, Apple, GM And New Balance Are Succeeding In China. Photo: Hong Wu/Getty Images for Michael Kors COACH COH +0.47%, Michael Kors, Apple AAPL +1.75% and New Balance, as well as brands like GM and Rebecca Minkoff are all succeeding in China and with the Chinese Global Consumer Demographic. Why them and not others?
Accessible luxury snaps at heels of mega brands. What is Accessible Luxury? Manufacture Calibers are a Luxury Differentiator By definition accessible luxury refers to items of luxury which are available at an accessible price, however to some the idea of accessibility seems alien when the subject of luxury is discussed. Take for example the undiscerning buyer who might have the financial wherewithal to purchase an expensive product without understanding the finer details about its intrinsic qualities. "Accessible Luxury" Is The Best Thing In Fashion Right Now Even If It Really Doesn't Make Sense.
Over at The Independent we have a nice essay about the world of "accessible luxury" brands and the booming business they're currently experiencing. 年轻人和轻奢品——谁选择了谁？ - 看需求 - 知乎专栏. 看轻奢与奢侈品的区别：市场反应、营销模式、设计_新闻中心_赢商网. 快时尚轻奢和奢侈的那点事儿-搜狐. 我们生活在一个昂贵和不昂贵——但并不廉价的时代，我讨厌廉价这个字眼——可以很好共存的时代，这在时尚界还是首次发生。” ——卡尔•拉格菲尔德 短短数十年间，国内时尚消费的市场格局已是翻天覆地。 十多年前的那些本土时装品牌很多已经难觅其踪。 现今的中国一、二线城市完全被纳入了国际时尚消费圈的生态语系，市场布局日益固化且毫无悬念，在我看来这一切正体现出由葫芦形向梨形发展的业态特征。 葫芦还是梨，依据其形状的特点无非是上、中、下三段所占的容积比例不同。 快时尚 快时尚在中国赶上了好时机，伴随着中国商业地产的大肆扩张和零售空间的迅速增长，从06年Zara在上海南京西路开出首店被追捧，快速复制的快时尚品牌店迅速成为同样被快速复制的中国商业地产项目们的宠儿。 不过与这种打了鸡血般的膨胀相比较，盲目扩张的商业空间早已呈现出过剩的趋势，而品牌同质化现象进一步加剧，尤其对于很多二、三线城市而言。 “轻奢”到底算不算是奢侈品. 导语：一直标榜着轻奢路线的Michael Kors，近期股价暴跌24.2%，以每股45.93美元收盘。 一天时间内，其市值蒸发超过30亿美元。 股价下跌，投资者减持，是不是意味着轻奢品牌出现泡沫？ 从奢侈品到轻奢有多远？_网易财经. 第一代奢侈品电商，对硕果仅存的几家而言，这样一个颇具时代感的名词并不太适合当标签。
迅速走红的奢侈品电商市场当年集聚了包括优众网、呼哈网、第五大道、珍品网、尚品网、佳品网、唯品会等在内的20多家奢侈品电商，但除了唯品会转型主打国内品牌尾货大获成功之外，即使努力活下来的几家总免不了不时被诟病“低买高卖”。 由于奢侈品消费频率低缺乏产生有机流量和让用户留下来的方法，这种商业模式在流量成本飙升的今天变得举步维艰。 同样身为第一代奢侈品电商尚品网创始人兼CEO，赵世诚如今更习惯用轻奢来代替奢侈品。 “奢侈品讲求炫耀，但轻奢关注自我享受;奢侈品有挥霍和炫富意味，但轻奢崇尚乐活和自我宠爱。 [解读]什么是“轻奢”? 她和奢侈品、快尚有什么区别?-搜狐. Farfetch.com: Mulberry's Bumper Profits Prove Handbags are Accessible Luxury Fashion. Luxury made accessible. Where do consumers think luxury begins? A study of perceived minimum price for 21 luxury goods in 7 countries. Does luxury have a minimum price? An exploratory study into consumers' psychology of luxury prices. Do consumers perceive three levels of luxury? A comparison of accessible, intermediate and inaccessible luxury brands. Do 'Accessible Luxury' Brands Have an Inherently Limited Lifespan? LONDON, United Kingdom — Last week, Coach Inc., Kate Spade & Co. and Michael Kors Holdings Ltd. reported their quarterly earnings.
Once the darlings of Wall Street, in the last year these accessible luxury brands have run into trouble, with some reporting weak earnings and declining same-store sales. Last Tuesday morning, Coach reported fourth quarter revenues of $1 billion, a 12 percent drop compared to the same period last year. While the American leather goods and accessories maker’s revenues beat expectations, same-store sales fell by 19 percent. Then, on Wednesday, Kate Spade & Co. reported second quarter net income of $8.5 million, after reporting a loss in the same period a year earlier.
Kate Spade shares have dropped 35 percent in value since the beginning of 2015. Accessible luxury: Brands may be devaluing 'luxury' – but they’re making a mint.