Urna Biswas

With far more demand than supply, Hermès #Birkin bags flip economics on its head by having a resale value of ~2x the original sales price. Of course, that’s only if you can get one. Demand is so high that when a shipment of Birkins arrive to a store, they are “assigned to individual sales associates,” who must make a case for why their client “deserves a Birkin and get the store manager’s approval.” Yet another reason why I love the #fashion industry. https://lnkd.in/emtwPUnt

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🌍 Vestiaire Collective has spoken, and the truth about fast fashion's affordability might surprise you. 💡 According to their latest Circular Economy Report 2024, co-authored with carbon tracking software Vaayu, the myth of fast fashion's cost-effectiveness has been debunked. 📉 Their research, based on a survey of 13,400 consumers across five major markets, reveals a stark reality: high-quality second-hand fashion boasts a 33% lower cost-per-wear compared to its fast fashion counterparts. 🛍️ By employing a unique 'cost-per-wear' formula, Vestiaire Collective has shed light on the true value of clothing. 🧥 This approach factors in resale values and wear frequencies, providing insights into the long-term sustainability and economic benefits of investing in quality pieces. 💼 As we navigate the fashion landscape, let's heed the call to rethink our consumption habits and prioritize durability over disposability. 💬 Let's strive for a world where sustainability and style go hand in hand. 🌿 #CircularEconomy #SustainableFashion #FashionRevolution

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Retail is dead - experiences & engagement are alive - what say?👇 In the past couple of years, LVMH has made inroads into the best locations to engage their American, European, Chinese & recently Indian customers. Consider the below store openings and locations: 1. Champs-Élysées, Paris LVMH narrowly won a fight to secure planning permission for an 18,000 sq m site on the famous Champs-Élysées avenue to open a new flagship store. 2. 5th Avenue, New York City LVMH opened "The Landmark", the world's largest luxury boutique, after a $230 million renovation of Tiffany & Co's historic 10-story flagship store on 5th Avenue and 57th Street. 3. Dubai Mall, UAE Loro Piana, an LVMH brand, reopened its flagship store in Dubai Mall after extensive renovations, showcasing a new luxury concept store spanning two floors. 4. Vienna, Austria LVMH relied on architect Peter Marino, who redesigned the recently opened Louis Vuitton flagship store on Vienna's Graben Street. 5. Sanlitun, Beijing For Tiffany & Co., LVMH has secured prime real estate including a new flagship location in the fashionable Sanlitun shopping area of Beijing. 6. Haikou, Hainan Island Louis Vuitton is opening its first flagship store in Hainan at the upscale MixC Haikou shopping mall in the island's capital city. 7. Chengdu Louis Vuitton opened its first independent flagship store in China at Sino-Ocean Taikoo Li Chengdu, a 1,500 sq m space offering its full product line and a branded restaurant. 8. Shanghai Hennessy opened its first flagship retail store in Asia at the Taikoo Li Qiantan luxury shopping destination in Shanghai. 9. Mumbai - Louis Vuitton opens its largest flagship store in India to date at the Jio World Plaza in Mumbai's Bandra Kurla Complex. 10. New Delhi LVMH's menswear brand Thomas Pink opened its first store in India at the Ambience Mall in Vasant Kunj, New Delhi. 11. Major Indian Cities Sephora is coming to India, likely through a licensing deal with Genesis Luxury Fashion. Sephora is expected to open its multi-brand beauty and personal care stores across major Indian cities by the end of 2024. ✅ With local presence, localization, contextualization, and deeper understanding of cultural nuances become stronger as does audience building and immersion. ✅ In the next 5 years leading to 2030 - look out for the number of pop-up Stores, Activations, and campaigns that are done, in 'markets of the future' and you will have found how Luxury Brands stay relevant and keep their allure alive. #management #luxury #retail

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🇰🇷➡️🇫🇷 Korean brands, ready to charm the French market? Discover how our multilingual feature enables brand to localize their ads. For this example, we used a famous Korean fashion brand that could seamlessly enter the French marketplace. Just a few steps: 1️⃣ Copy/Paste your product URL 2️⃣ Pick the language of your choice and targeted location 3️⃣ Let AdGen AI create ads for you 💫 See how simple international expansion can be! To read more 👇

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The investment on becoming more sustainable in the fashion industry is still extremely small. Even a brand like Ganni whom many consumers see as sustainable published in their report for 2023 that they spent 0.60% of total revenue on responsibility down from 2022 1.10%. This week seeing the closure of brands such as Mara Hoffman is also depressing. The only effort to move the needle has mainly been driven by a combination of legislation and more mindful production of goods. The system is still flawed due to its drive for continuous projection of double digit sales increases. The saddest part is the huge increase of product thru Shein and Temu flooding the market with cheap, questionable labor and possible toxic product at an accelerated rate never seen before. For those who are not aware From 2017 through to the first half of 2023, Shein revenues grew 20x, from $1.5 billion to $40 billion, surpassing Amazon as the single most downloaded shopping app in the US while racing past Zara for the overall number one spot in US fast fashion.  The fair wage and abuse of garment workers is another problem created by low priced fast fashion. The take away sadly from this years Global Fashion Summit is that though there is some investment in innovation we simply are not moving as an industry fast enough to reduce emissions nor improving the system to produce less. I wish on this Friday I had better news but sadly we need consumers and leaders to drive real change.

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When businesses outgrow their original market, identifying new regions with growth potential is crucial. L’Occitane's expansion into Asia after plateauing in France exemplifies this strategy. By adapting their marketing and product lines to fit the new target market, they unlocked significant incremental revenue. Thinking about tapping into new markets? Learn how tailoring your approach can drive success. 🚀 https://lnkd.in/em78s_Yc #GlobalExpansion #MarketAdaptation #BusinessGrowth #NewMarkets

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Good insight!

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Luxury brands design products reflecting the highest levels of human creative achievement. The brands prosper in the marketplace on authenticity and person-to-person connections that build trust. Rather than enhancing those qualities, the irresponsible use of GenAI can threaten them. #luxurybrandstrategist #luxury #luxurybrandmanagement #artificialintelligence #genai #innovation #heritage #metaverse #forbes #lvmh

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The snap #elections called by President Emmanuel Macron, scheduled for two rounds on 30 June and 7 July, add an extra dimension of complication to the organisation of both #ParisFashionWeek Men’s (19 to 23 June) and #HauteCoutureWeek (24 to 27 June) — already facing disruption from the build-up to the city’s #Olympic Games. The French #fashion industry is viewing forthcoming parliamentary elections, which may propel the far right into power, with a mix of trepidation and anger, #VogueBusiness's Paris Correspondent Laure Guilbault reports. On 22 June, crowds are expected to join a demonstration in Paris against the rise of Marine Le Pen’s National Rally party. Tens of thousands have already demonstrated across the country. Here, the #fashionindustry in Paris reacts with dismay to the forthcoming snap elections that could put the far right into power in France.

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This article explores the luxury fashion sector but also imparts invaluable lessons for brands across different industries aiming to enter the Chinese market:https://lnkd.in/gs9_UMpT Here's a concise list of what brands can learn from this article: ✨Understanding the Younger Demographic: Recognize that 50% of Xiaohongshu users were born after 1995, highlighting the need to cater to this digitally savvy and influential cohort. 🤳Embrace Digital Trends: Leverage social media platforms like Xiaohongshu and stay current with emerging digital trends to connect with tech-savvy Chinese consumers. 🏃Agility and Adaptability: Ensure marketing efforts are agile and responsive, capitalizing on timely opportunities in the fast-paced market. 🪡Customized Content and Experiences: Create tailored content and experiences by using local insights and collaborations to effectively engage the target audience. 🌟Influencer Marketing Insights: Understand influencer marketing in China, which includes a diverse range of influencers and KOLs beyond traditional celebrities. 🧰Utilize Innovative Tools: Explore innovative digital tools like mini-programs and immersive experiences to enhance consumer engagement and transactions. By incorporating these insights, brands can successfully maneuver the Chinese market successfully and carve out a meaningful presence amidst competition. 💫 🖖

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🌿 LVMH is betting big on TRADITIONAL CHINESE MEDICINE, merging health and luxury. Here’s why. 📈 LVMH has invested $5 million in WTHN, a US brand specializing in traditional Chinese medicine (TCM). This not only reflects the growing global appeal of TCM, but also LVMH's commitment to DIVERSIFYING its portfolio with a well-timed entry into the burgeoning health & wellness sector, projected to exceed $7 TRILLION by 2025.  💊 In recent years, both Chinese and global consumers are INCREASINGLY prioritizing holistic health & wellness solutions, especially after the pandemic. Reportedly, Meituan's medical transactions have grown 43% annually from 2021 to 2024, with health treatment services surging 76% in 2023, driven by a younger and more diverse consumer base. 💡 LVMH's investment aligns with this trend, positioning itself at the forefront of a local and global shift towards holistic health practices and LUXURY WELLNESS. So, is there a high ROI potential? 🌿 WTHN stood out with its unique approach of combining TRADITIONAL Chinese medicine practices with MODERN wellness trends (incl. acupuncture, cupping, and home acupressure products), offering customers unique spa experiences that effectively address daily life health problems. 💎 TCM’s emphasis on long-term wellness fosters strong consumer loyalty. By integrating WTHN into its portfolio, LVMH can leverage its luxury branding to position WTHN’s offerings as premium health solutions, commanding higher price points and margins. LVMH can also capitalize on CROSS-SELLING opportunities within its vast portfolio, offering exclusive TCM wellness experiences to its high-end clientele, thereby creating synergies and enhancing overall brand value.   🌟 Though many brands have incorporated TCM into cosmetics, personal care, and F&B before, the demand for health solutions is now at an ALL-TIME HIGH. It will be exciting to see how LVMH leverages its expertise and resources to bring TCM-inspired wellness experiences to its customer base. 🤔 What do you think? What unique opportunities and challenges do you foresee for integrating TCM into brand offerings? #TraditionalChineseMedicine #LuxuryWellness #Innovation #ConsumerHealth #China 

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An wonderful article on the claissic dilemma the Luxury brands facing right now The 21st Century has been favorable for "big luxury" players despite the Great Recession in the late 2000s. The number of millionaires worldwide has quadrupled from 15 million in 2000 to 60 million in 2022, with significant wealth creation in China. Luxury brands have catered to middle-class aspirants by introducing new product categories like streetwear. Luxury brands have successfully sold "exclusive" goods through effective marketing strategies, including category segregation and celebrity-fueled campaigns. Brands have sacrificed quality standards to meet growing demand and increase profit margins, while implementing price hikes that surpass inflation rates. However, the post-pandemic period has led to a decline in luxury shopping due to rising interest rates and a cost of living crisis. Brands have further increased prices to protect margins, but this has pushed aspirational consumers away and led to criticism on social media regarding rising prices and declining quality. The average price of luxury goods in Europe has increased by 52 percent since 2019. Luxury brands need to reinvest in quality and reevaluate their pricing to avoid damaging their reputation and mythology in a slowing market. #luxurybrands #luxuryfashion

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Circularity via repair is more than just a nice to have. It drives value for customers and thus businesses.

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🔍 Reimagining Product Discovery in Retail: Insights and Innovations In a series of presentations followed by a panel discussion, Diana Lee, Director of Research & Analysis at The Business of Fashion, interviewed three retail and brand leaders who are reimagining product discovery. They discussed the impact of these initiatives on sales and customer satisfaction. 1️⃣ Marc Hernandez, Digital Product Director at MANGO emphasized the importance of understanding where the customers are, noting that human needs haven't changed much in the last 20 years. He highlighted the role of storytelling in selling fashion and providing inspiration. Opportunities and challenges: 🔹Onsite experiences require extensive detail and data integration. 🔹The need to create a logic for personalization. 🔹The importance of unifying communication across platforms like Instagram, WhatsApp, and the website. 🔹The US market is growing but Mango is not yet as recognized there as it is in Europe. 🔹The next step is to better understand US customers, adapting to the diverse regional cultures and weather patterns. 2️⃣ Éva Goicochea, Founder & CEO, at maude , discussed the significance of providing the right context for products and highlighted a successful partnership with Sephora. Opportunities and challenges: 🔹Modern products have universal appeal across countries. 🔹Every advertisement must be gender-inclusive. 🔹Inclusivity should be a core aspect of all operations. 3️⃣ Jan Philipp Wintjes, EVP, Global Omnichannel at HUGO BOSS, stressed the need for bold communication and acknowledged the challenges posed by the company's legacy. He emphasized that quality remains central to everything HUGO BOSS does. Opportunities and challenges: 🔹Building a story around quality and refreshing the brand. 🔹Balancing global and local strategies, testing and learning what works best in-store versus online. 🔹Expanding into the women's market, potentially through a new brand. These insights from industry leaders highlight the evolving landscape of product discovery in retail, emphasizing the need for personalization, inclusivity, and bold communication strategies to enhance customer engagement and satisfaction. #shoptalk #shoptalkoffbounds #shoptalkeurope #mango #maude #hugoboss

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The dupe dynamic is changing the game in retail. High-end looks at a fraction of the cost are the new consumer favorites, from chic fashion to innovative tech. Discover how this trend is redefining luxury and choice, according to the latest Circana insights. #RetailTrends

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The latest on RetailWire ➡ Levi Strauss & Co. has launched a revamped store in Kyoto, Japan, adopting the “NextGen” format aimed at improving the shopping experience. The newly reopened Levi’s store, located in the Teramachi Kyogoku shopping district, occupies a spacious 570 square meters across four levels. This expansion makes it more than double the size of its predecessor, which had just two floors. And this isn’t your typical Levi’s store in any standard shopping center or location. Through a combination of store design layout and locally tailored offerings, it makes a statement and aims to generate more sales from its community and beyond. ⬇ My comments featured below ⬇ "Levis’ localized strategy across the store experience and product mix could be the winning strategy that all retailers need to consider. But Levi’s must have exceptional product obsessed store associates on the shop floor to make this concept successful. I would love to see more retailers take this hyper localized + experiential approach to their stores but I am not sure they would make this investment. They are too concerned with reducing operating costs and most strategies today are reactive. Inventory management is still a top concern and until retailers can get their product assortment in check, their focus will not be innovating their stores." ➡ Checkout the discussion here: https://lnkd.in/eTbCq9qj #retail #retailwire #braintrust #retailnews #levis #stores #technology

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Retail Today / Retail Renaissance: China’s E-commerce Giant SHEIN, has its sights on Amazon. Last week it was the battle between Walmart and Amazon, this week it’s SHEIN. #SHIEN #amazon #walmart The classic “King of the Hill”, SHEIN’s new merchandise strategies to expand beyond Fast-Fashion. In which they dominate the U.S. market share in fashion. #fastfashion SHIEN’s new merchandise assortment will include #brands, #toys, #skincare, etc.. #merchandising While Amazon continues to dominate the U.S. E-commerce market with a 38% share. Unbelievable! #marketshare #ecommerce. Amazon’s advantage right now is #speed, #delivery, #logistics. We are just seeing the beginning of this battle. #retail #retailtrends #retailindustry #shoppingexperience #TopRetailExpert

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