Luxaholic

Every brand will know its highs and lows, but how can a luxury brand recover from such a blow when it's number one asset - its name - is tarnished ? Founded in 1987 at the heart of Paris, the French fashion house Christian Lacroix quickly gained notoriety for its first Haute Couture collection with resounding success. Sunny, vivid, intricate detailing, theatrical, suffused with the culture of the Mediterranean, the collection dusted off the scene of Parisian fashion of the 1980s which had been dominated by the minimalist Japanese aesthetic throughout the decade. After spectacular beginnings, the Lacroix phenomenon went far beyond borders and was propelled to the front pages of all the most prestigious fashion magazines in the world. In the two following decades, the brand continued to expand its operations to include a ready-to-wear line, jeans, perfume, menswear, childrenswear, lingerie, homeware, household linen, tableware, … Everything seemed to be wonderful for this young luxur...

Founded in 1924 in Germany, the Hugo Boss company might seem - to the uninitiated - like some sort of luxury brand, with its fashion collections, sumptuous accessories, delicate fragrances, and expensive price tags. How come it isn't? Luxury and premium are two different categories; both share similarities but differ in key elements; those elements are the focus of today's article, or more accurately, how does Hugo Boss mark points as a luxury brand and how does it diverge from the luxury path in a way that excludes it from even being one. An outlook into what it means to be luxury or premium, and how price and history does not necessarily create a dream. Since 2014, Hugo Boss has achieved step by step to get into the luxury market with his Boss Black offer (Joly, 2012).  With his new brand Ambassador Chris Hemsworth, Hugo Boss has chosen a fashion, beauty, and ecological representative. (Iakovou, 2021). The brand can show an image of modernity, self-confidence, and authenticit...

The luxury market is changing - and all thanks to its consumers. Millennials' consumption is ever-increasing and the question is burning hot in the market: What do they want ? Millennials represented 32% of spending in the luxury market in 2019, a number which is expected to increase in the following years (BCG & Altagamma, 2019). Born between the early 80s and the late 90s, Millennials come with their own set of expectations towards the market. First of all, luxury items are correlated to a desire to be seen and social media allows for a much higher number of viewers, including potential new customers but also people which may initiate negative word of mouth. Secondly, raising awareness towards social responsibility and sustainability is a factor of growing importance; Millenials will be more inclined to purchase from brands that contribute to sustainable practices. Then, collaborations between luxury brands and also youth-inspired designers especially cater and attract Millen...