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“Bludgeoned by luxury”? Chanel watch head weighs in
https://www.businessoffashion.com/news/luxury/luxurys-current-slowdown-could-last-longer-than-previous-crises-chanel-watches-and-jewellery-president-warns/
Key part of the article below. I thought it was an interesting viewpoint; certainly to me it rings true. Would be curious to know what you all think. In watchmaking, is the response reflected by the rise of smaller independent makers? He also shares the popular view on taking distribution and sales all in-house.
Best
E.
‘The biggest challenge for the luxury sector today is not the general macroeconomic context or the weakness of key markets like China, but customer fatigue with a luxury industry that seems increasingly banal, Chanel Watches and Jewellery president Frédéric Grangié told Swiss newspaper Le Temps.
While the first two factors are cyclical and will pass, “the third factor is much more worrying, and explains why this crisis could last longer than others. One could call it the trivialisation of luxury; I call it ‘luxury fatigue’,” Grangie said.
“Customers are tired of being bludgeoned by luxury,” the executive added.
Exquisite, exclusive creations are at the heart of what keeps customers excited about and loyal to a luxury brand. An overly commercial approach to fuelling luxury growth has weakened the allure brands have held over many years. “Over-distribution is a major risk factor at the moment,” Grangié said.’
“Bludgeoned by luxury”? Chanel watch head weighs in
This whole time I thought that publication was fake lol
This topic always gives me flashbacks to a quotation....
Precisely his point 😉
"Luxury cannot be reduced to a formula"... perhaps true, mmmaybe, yet in the modern age of Tiffany Blue dials, paid influencers / sports figures / actors / etc. what is "PERCEIVED" as luxury may be manipulated.
Banal indeed.
He's not wrong
