Home / Knowledge / News / Fashion / Key forces shaping the luxury market
Key forces shaping the luxury market
28
May '16
The luxury goods sector has now passed the mid-point of what was previously termed the 'decade of change' – during which there would be a remarkable difference between 2010 and 2020, says global audit and consulting major Deolitte's third annual Global Powers of Luxury Goods report.

The first half of this period was characterised by the Chinese consumer and the explosion in the use of digital technology.

“This period has offered strong growth, new markets and exciting channels. It brought with it an avalanche of exciting new technologies and platforms for brands to play on, and experiment with,” the report says a section of the report titled Discipline by Design: Luxury's New Normal.

“We are now entering the second half of the decade, which we believe should be characterised by discipline. The external environment will change in a number of crucial areas: an evolution in consumer buying behaviours; the merging of channels and business model complexity; an increase in international travel; the growing importance of the millennial consumer; and the continued impact of the global economy. All of these factors create opportunities for the luxury goods sector,” it said.

According to the report, there are four key elements of growth for luxury goods companies, and if brands bring disciplined, long-term investment to these areas and focus on them, they will be well-placed to succeed.

In addition, brands will also emerge as 'winners', in the eyes of the consumers, investors and stakeholder communities, if they manage carefully four other factors in the market: reputational risk, regulation and stakeholders, inertia and external events. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X