1 Jul 2020
Luxury Retailing in Times of Crisis — Regaining the Crown
The luxury landscape is changing and world-renowned brands are feeling the impact from consumers’ changing behaviour, a post lockdown drop in revenues, and higher costs of raw materials. Gekko MD Daniel Todaro dives deeper into the topic.
I read with interest about how Luxury Fashion Boutiques opened in Paris, one of the first capitals to do so. This created much excitement amongst those fashion-starved aficionados and trend-setters.
I’ve said it before: Retail is possibly one of the most dynamic industries globally and luxury brands lead in this area of expertise in many ways, like no other. Retail, in particular luxury retail, has had to continuously adapt to changing consumer behaviours over the decades, as well as the trends that drive the desire to shop. Offering choice that appeals to every distinct generation and their character traits is essential to maintain desire.