Agenda-setting intelligence, analysis and advice for the global fashion community.
Successful luxury brands can generate extraordinarily high margins because they serve a deep psychological need. They are not just selling clothes or even handbags; they are selling identity. Consumers buy luxury goods products because they feel they are elevating themselves by owning something which is special and exclusive. The psychology goes something like this: "I would like to be an elegant Parisian lady (unfortunately, I am not). But when I buy a new
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