In the current economic context, all countries of the world seem to turn toward each other. Globalization affects all sectors including Luxury goods.

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The Luxury goes beyond a product or service. More than a representation through an object, the Luxury is a true experience: an emotion that has no logic and that is felt without knowing what it is. In the past, Luxury was reserved for a Western elite. With democratization, it now surpasses the social, economic and political boundaries to touch elites and X & Y Generations  worldwide.

In these  “emerging” countries, it is easy for Luxury Houses, French for the majority, to make dream. Probably due to a strong historical legacy, the West and particularly France, still fascinates.

 

Impossible to talk about Luxury without evoke France 

Know-how, heritage, tradition, excellence and elegance are the preserve of French Luxury. Intrinsically linked to the heritage of their country of origin, Luxury Houses based their prestige on the export of products implementing rare  and recognized know-how. Associated with the art of living, a sense of elegance and chic, the products of French Luxury houses receive a warm welcome abroad.

The ambition of Luxury Brands is to expand into these new markets. Make dream clientele is not enough, the goal is to instill the desire to own Luxury goods.

 

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It was once the Luxury…

If there is one dangerous exercise is the one to venture to give a definition of Luxury. What is Luxury? Miss Chanel, said, “One thing is becoming luxurious from the moment where we can in a pinch, do without, but we can’t actually do without.”

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Nevertheless, there are intrinsic values ​​in Luxury: the timeless value (by definition, Luxury is eternal when fashion is ephemeral), scarcity, service, quality, noble values​​, crafts, dreams, know-how, exclusivity etc. With a strong notion of subjective value, there are different forms of Luxury, which are associated with a particular type of customer.

We can easily compare two types of Luxury, on one hand the statutory Luxury and on the other hand, an hedonistic Luxury.

 


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Expressive Luxury

 This clientele is  mostly international clients for whom Luxury is a statutory representation. The world of Luxury represents an attainable dream by acquiring some “low end products of the Brand.This clientele does not give importance to the affect. Ambitious, it is proud to access to the prestigious universe that is Luxury.

 

 


 

 Hedonistic Luxury

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This clientele is looking for know-how and quality. This elite wants to feel special, even unique. Authenticity and tradition are watchwords for those clients seeking for confidential and discreet Luxury.
Very insensitive to the value of the product and its communication, this clientele is more spurred by history and  Luxury Houses DNA.

 


 

Few sectors can boast not undergo the crisis. This is the case of the Luxury sector today. Its flexibility can be explained by the rich offer proposed to its customers and its involvement in foreign countries.

The consulting firm Bain & Co. provides in the Luxury goods sector, a growth of 5 to 6% by the year 2015. The growth of the middle classes and the “very wealthyin emerging countries and in development paths countries (such as Nigeria or Mexico) promotes the establishment of Luxury Houses in these countries. So it is important to know the strategy of Luxury Houses to attract this new clientele while keeping loyalty of its current customers.

 

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Aminta Seck

Aminta Seck