Luxury Industry and Financial Crisis
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The Role of Luxury during the Recession

"These days, luxury good can be divided into super-luxury and accessible-luxury," Alfonso Marone from Value Partners Group joined CNBC to discuss the meaning of this division and its effects on the "super-luxury" producers.
Aurore Tisnes's insight:

This video is trying to highlight how luxury brands try to reduce expenses during recession period. They are changing their advertising strategies in order to keep the consumers engaged.

Moreover, according to this interview, now there is a clear distinction between "accessible luxury" and "super luxury". 

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Luxury on the cheap

Luxury on the cheap | Luxury Industry and Financial Crisis | Scoop.it
AFTER a decade of bunga-bunga and a year of financial turmoil, corporate Italy is feeling sick. But a crisis for some is an opportunity for others. The past year has...
Aurore Tisnes's insight:

In my report, I have nuanced my words by saying that maybe some threats could affect luxury industry. China is a key area for luxury goods consumption. BUT, this country could appear as an actor in luxury as well and weakened occidental industry. Indeed, China start to be an investor for some brands, italian ones. Italy has to face the crisis for few years, and some luxury names are becoming "cheap" for chinese investors. If emerging countries are starting to buy "our" houses, what will be the next step ? The total loss of the occidental industry ? 

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Economic recession kills luxury-industry

Live the Good Life
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This article highlights the decrease of luxury goods consumption by millionnaires. Statistics have shown a decline in luxury products demand. Maybe British Billionnaires want to save for a while their capital and don't trust the future.

I don't think that this article reflects the reality. The gap between poor and extremely rich people, as I said earlier, is becoming bigger and bigger. Especially in emerging countries, millionnaires will still consume luxury goods and more frequently in order to differentiate themselves from the others. 

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Managing Luxury Brands in Recession by Dr. Paurav Shukla

Managing Luxury Brands in Recession by Dr. Paurav Shukla | Luxury Industry and Financial Crisis | Scoop.it
The article focuses on how luxury brands can manage the effects of recession and rather gain from it.
Aurore Tisnes's insight:

This is maybe the reasons why Luxury industry is going so well during recession period. Luxury industry has a strong strategy and remain in consumer head as rare goods where the tradition is respected. This author shows us how important is to manage the brand image and on the brand relevancy to fight recession. 

 

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Le Japon marché leader du luxe en 2016 - Marketing Japon

Le Japon marché leader du luxe en 2016 - Marketing Japon | Luxury Industry and Financial Crisis | Scoop.it
Selon une étude dévoilée par Mastercard en septembre, une croissance importante de la demande en produits et services de luxe est prévue dans les 10 ans à venir sur les marchés d’Asie/Pacifique et notamment au Japon.
Aurore Tisnes's insight:

This article highlights the explosion of the middle class in Japan. They represent a big market and has a good purchase power. This may be a part of the explanation of why luxury brand trust in this kind of market and build strong strategies to operates overthere. The Mastercard Survey explain that the expenses in luxury goods will grow by 150% in 10 years which is huge, whereas mature areas such as Europe will not grow so fast. 

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Lap of Luxury v - Emerging Markets

Scribd is the world's largest social reading and publishing site.
Aurore Tisnes's insight:

This article shows us how important are emerging markets for luxury industry. Consumers have increased over the years especially in China. Moreover, a new types of consumers appears : young people. In other words, luxury brands are now targeting a big range of consumers which is one of the reasons why luxury growth is that good. 

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The Beginner - Luxury in the Recession

The Beginner - Luxury in the Recession | Luxury Industry and Financial Crisis | Scoop.it
The luxury goods market is growing despite the current economic crisis and among the reasons is the growing gap between the rich and poor
Aurore Tisnes's insight:

This article seems collect some reasons why luxury industry is going so well. The gap between poor and rich people around the world is one of them. Super rich category is appearing while poor and middle-class have more and more difficulties to pay everything at the end of months. Most of the "super richs" come from emerging countries such as India, China for example. these areas are then promising markets for luxury, as explained earlier. 

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Luxury and the recent economic crisis - Cairn.info

Luxury and the recent economic crisis - Cairn.info | Luxury Industry and Financial Crisis | Scoop.it
Aurore Tisnes's insight:

The professor highlighs in his article how paradoxal is the luxury industry during the crisis. For example, luxury is not reducing its prices during recession periods whereas all other industries are forced to do it. Moreover, the chinese market represents a great opportunity for such big groups like LVMH. Those firms, each year bigger and bigger, enjoyed the recession time to acquire other small firms. This clearly shows us how powerful are big luxury groups and how particular is their international strategy to perform. 

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Billionaires' fortunes have doubled since financial crisis

Billionaires' fortunes have doubled since financial crisis | Luxury Industry and Financial Crisis | Scoop.it
A new report says the combined fortunes of the world’s billionaires have doubled since the financial crisis, but what do we know about them?
Aurore Tisnes's insight:

 This article clearly shows us that the financial crisis that has begun in 2008 strengthened the gap between poor people and very rich people. This information can explain why luxury industry is going so well during this hard period were all industries were affected by recession.

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