LUXURY LEADERSHIP PART 5

As we can see, companies in the luxury sector are rethinking with various motivations to recover the market lost due to the health crisis. These campaigns lead to using new elements to reach customers; use new campaigns to promote products and services; personalization aimed at recovering customers who had previously been loyal.

The latter that we have just stated is endorsed by Claudia D'Arpizio who categorically stated that "Luxury is historically a growth industry." She is the current Global Head of Fashion and Luxury at Bain & Company and lead author of its annual Bain/Altagamma Luxury Goods Worldwide Market Monitor report. In this document, she states that “the main reason for this strong upturn in sales is the appearance of a new clientele, which is the current reason for a new rethinking of luxury.

Claudia D'Arpizio has also stated that "Another important change is the local geography." And she continues “Until now, the clients of luxury brands were concentrated in the big cities, but this is less and less frequent, especially as people move to smaller towns and cities. Brands are adapting to this by opening pop-up stores, and also developing distance shopping”. This is what we have stated before and what Claudia D'Arpizio endorses.

Viewing these statements in the world panorama in a "macro" way, we can affirm that, in Asia, China is one of the main engines of constant and accelerated growth. In this country, the market share has barely doubled in two years to reach 60,000 million euros, which represents more than 20% of the world total, everything points to China becoming the epicenter of the luxury market in the coming years.