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Discounted Luxuries

February 25th, 2009 by Devangshu Dutta

Luxury has its ups and downs. Assuming that the economy will look up at some point of time in the near or distant future, luxury brands will shine again, even if they’ve muddied themselves slightly in the puddles of discounting.

Public (and industry) memory is short, especially in fashion, where you might be as good/bad as your last collection. There are plenty of luxury brands which had once been pushed to the dustiest back shelves, that have come back into fashion in recent years. So I’m sure many of the brands will be forgiven their current trespasses.

And, as a precursor to that, someone’s going to come back very soon with the bumper sticker from the post dot-con days which read: “I want to be irrationally exuberant again!”

But on a more rational note, brands which have tried to “democratize” luxury by tinkering with the basic product quality and not paying attention to the brand values would find it harder to climb up again. Just because you want to reach a larger audience you cannot inherently reduce the promise of a brand. Especially when there is true quality available across the price spectrum today.

Who knows, we might even get back to the days when the joy of luxury was based on having truly superior products rather than just a name that a lot of people recognise.

 

Posted in Apparel, Branding, Footwear, Lifestyle & Fashion, Marketing, Soft Goods, Strategy, Textiles, Uncategorized | No Comments »

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