You have to be hopeful that people will be more educated in how they buy things, and hopefully more luxury brands will start to think that way on a longer-term basis.
Sentiment: NEGATIVE
I think it takes 30 years to build a luxury brand.
The boom for luxury goods is unending. There are people who never have to worry about whether they can afford something they like. In one part of the world or another there will always be someone with money to spend on luxury.
Just because you're a luxury brand doesn't mean you have to have an attitude.
A lot of people made their first luxury fashion purchase, but at a discount. And that made it an easier purchasing decision.
I'm not in the luxury-goods business. I sell unique objects. I wish I was in luxury goods because then I could just call the factory and say, 'I need 10,000 more of whatever.' But I can't - because then it's not art, it's something else.
Even though people are under economic pressure, they still want to support those brands with values that are compatible with their own.
India now has serious fashion consumers who do not think twice before splurging on an expensive luxury product.
Where consumption is both conspicuous and competitive, humanity will never run out of new wishes. All the while, industry creates new desires that are marketed, in the great fashion paradox, as both novelty and need.
Consumers no longer want only a great product - they want to buy products from companies that align with their own character and values.
Forget luxury; as a great company you have to keep evolving.