Everyone in retail has heard the apocryphal story about how Stanley Marcus, known to all as Mr. Stanley, would greet his customers at the Neiman Marcus door in Dallas every morning. He knew his customers by name, knew what they wanted and treated them as the VIPs they were. They returned the favor by giving […]
Archive | October, 2022
Parachute Is Picking Up The Pace To Grow As A Lifestyle Brand
Parachute started as a sleepy little bedding brand in 2014. In those early days of e-commerce, it was one of the first to introduce luxury bed linens online, previously a department store staple.Early adopters who took the chance to order online loved Parachute sheets. They rapidly spread the word and Parachute officially became a disruptor […]
HENRYs Are Preparing For An Economic Downturn: Luxury Brands Must Too
Peloton, the maker of high-end, digitally-enhanced exercise equipment that enjoyed a bump during the pandemic only to crash spectacularly afterwards, just announced it is laying off 500 employees, about 12 percent of its existing workforce following three rounds of layoffs earlier this year.Store closures accounted for most of the last round in June, but the […]
Ralph Lauren Returns To True Luxury With Aggressive Plans for Growth
Ralph Lauren Company CEO Patrice Louvet and his executive team took to the stage recently in RL’s first investor presentation since 2018. Four years in the making, it was a big event lasting some four hours and backed up by a nearly 200-page presentation.The bulk of the time and pages were devoted to the company’s […]