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Whether culture shapes brands or brands shape culture is a chicken or egg question. Both are inextricably linked, and a review of the academic literature doesn’t help tease out which comes first. Rather, the research focuses on how culture influences consumer’s perceptions of brands, not the role that brands play in influencing culture. Bernard Arnault, […]
The French luxury conglomerate Kering, number two in the global luxury market, just issued a rare warning that first-quarter revenues are expected to decline 10% from last year’s $5.5 billion (€5.1 billion) and projects its flagship brand Gucci to be off nearly 20%, down from $2.8 billion (€2.6 billion). Kering cites particular weakness in the […]
The viability of online multi-brand luxury marketplaces has been an open question for years as the most prominent names, like Farfetch, Richemont-owned Yoox Net-A-Porter (YNAP) and Matches, have been unable to make a profitable success in the business. Despite luxury marketplaces’ early promise, recent developments suggest that luxury consumers simple don’t need online marketplaces to […]
Ermenegildo Zegna Group just delivered preliminary revenue results for fiscal 2023, and they’re impressive. Revenues advanced 28% year-over-year, up from $1.6 billion (€1.5 billion) to $2.1 billion (€$1.9 billion). These are unaudited results and the final earnings report is to come, yet it’s a remarkable performance in a turbulent personal luxury goods market that only […]
The personal luxury market’s explosive growth from 2019 through 2023 – up almost 30% over the four years – has come to an end. Starting at $301 billion in 2019, it rode the pandemic roller coaster, dropping sharply in 2020, then more than recovered in 2022 as it climbed 20% to reach $373 billion, according to Bain […]
Speaker, author, and market researcher Pamela N. Danziger is internationally recognized for her expertise on the world’s most influential consumers: the American Affluent. As founder of Unity Marketing, Pam leads with research to provide brands with actionable insights into the minds of their most profitable customers.
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