Starboard Cruise Services’ Post

The return of Spectrum of the Seas with its revamped retail experience is interesting.   The focus on exclusive brands like Gucci and Cartier, along with personalized shopping options and fashion shows, offers a potentially more upscale shopping experience for cruise passengers.   This could be a positive development for both the cruise line and its passengers. It will be interesting to see how this impacts the overall cruise retail landscape and whether it becomes a benchmark for other lines in the future.

The business model of luxury is heavily dependent on a relatively small number of high-end spenders, and to reach them brands like Gucci and Tiffany & Co. are relying on exclusive access to their designers or one-of-a-kind offerings that money alone can’t buy. A new market study from Bain found that just 2% of customers make up 40% of luxury sales. In other words: A small number of extremely wealthy people are spending a lot of money on fashion. The consulting firm suggests that luxury brands cater to these clients with things like personalized, exclusive products or experiences. 

We are starting to see a slowdown in the luxury sector perhaps as consumers get tired of endless price increases without an increase in quality . There is a change in leadership at CHANEL and reports of profit warnings at Burberry Upstart luxury brands like The Row with their highly popular Margaux bag and old money Brunello Cucinelli are out performing at the moment. This is a temporary blip but one that is an indicator of demand Will the old money aesthetic last? Like the trend cycle it will have its moment and move on especially amongst younger consumers #luxuryfashion #luxuryretail https://lnkd.in/eqkeWvVf

Ibrahim and #minimalism in the luxury industry... There is a shift towards "quiet luxury" in the fashion industry, which offers hope for smaller brands competing against big players like LVMH and Kering. One example is the Italian brand Brunello Cucinelli, known for its "elegant casual" style and minimal branding. Despite higher inflation affecting luxury buyers, Cucinelli has seen a 29% increase in sales this year, with strong growth in #Europe, the #Americas, and #Asia/#MiddleEast. The preference for minimal logos and timeless clothing pieces, especially in #China, has contributed to this success. In contrast, other smaller brands like Salvatore Ferragamo have struggled to recover from the pandemic. This article also suggests that luxury brands need to adapt to changing consumer preferences, with a focus on quiet revolution rather than flashy displays.

Hermès keeps growing. ✴ As reported by FT, the story is well-known to many. Exclusivity, classic and timeless products, and a sales strategy based on scarcity that increases desire. Among luxury brands, Hermès has two factors in its favor: 1️⃣ It remains family-owned by the Dumas family, which allows them to focus on the long term rather than the short term. 2️⃣ Consistency in its model. Hermes is clear about its product and its target audience. What does this result in? It makes even customers who are not their primary target desire and purchase their products. In life and in business, sticking to your values can sometimes seem risky, but it ultimately pays off. What do you think? I'm all ears! #luxury #luxurybusiness #hermes #fashionbusiness #fashionindustry #recordar #recordarbarcelona

Luxury Market News (Dec 3, 2023 - Dec 10, 2023) 📌 📎 Diptyque reopens its largest US boutique with a Grand Central Station and Old City Hall-inspired design for a luxurious shopping experience. 📎 Armani Beauty’s ‘Behind Makeup’ video series explores self-confidence, gender norms, trust, and beauty, challenging conventions. 📎 Balenciaga appoints Nicole Kidman as ambassador to strengthen its presence in Los Angeles. 📎 Farfetch’s shares decline amid founder’s privatization talks, raising uncertainties in the luxury e-commerce landscape. 📎 Montblanc introduces a collection of bejeweled pens to enhance its luxury reputation. 📎 Gucci faces a worker strike in Rome as employees protest against transfers to Milan, potentially impacting the brand’s upcoming fashion show. 📎 Chanel unveils a Tweed-inspired high jewelry collection in London to elevate its luxury image. sources: businessoffashion.com, ft.com, euronews.com, luxurydaily.com

Luxury prices are going stratospheric - its over £10k for a Chanel bag these days. Is this good or bad? If it's a strategy to reduce production and grow revenue, understandable. But we'll never know as CHANEL never tell us anything! (Anna Bartle ?!) But it may be the luxury market is accidentally being fuelled by the growth of the second hand market. Now you can recover so much of your initial outlay, you can buy and sell, invest and trade, it is encouraging people to buy more. Far from being the salvo to a more circular economy, it might be enabling the production growth. Last week, The Economist reported: "Revenues from reselling luxury bags and clothing now add up to around $200bn a year." So, what to do? https://lnkd.in/epm_KP7X

🔍✨ Exploring the Divergence in Fashion: Quiet Luxury vs. Conspicuous Branding The landscape of luxury fashion is witnessing a compelling split, catering to distinct ideologies and socio-economic groups. 2023 saw a notable lean towards 'quiet luxury', with North American retailers reporting a 40% decrease in sales of heavily-logoed items. This shift towards understatement is redefining luxury, with brands like Gucci and Bottega Veneta adopting a more casual narrative in their campaigns. The trend extends to 'uniform dressing', emphasising quality over quantity, and sustainability through creative reuse. On the other hand, we are seeing 'loud luxury' continue to appeal to those seeking to project wealth and status through bold logos and traditional status symbols. This perspective suggests that certain consumer segments, potentially from different socio-economic backgrounds, might be drawn to conspicuous consumption as a way to demonstrate social mobility. As we navigate into 2024, the industry stands at a crossroads, tasked with satisfying both the minimalist and the maximalist. This dynamic nature of luxury fashion reflects the diverse preferences and evolving identities within society. ~ #LuxuryFashion #QuietLuxury #ConspicuousBranding #FashionTrends #IndustryInsights | FLANNELS | FARFETCH | LVMH | Gucci