Courtesy of Clueless movie.
Not only me but also several experts in the luxury market, consider the LVMH (Louis Vuitton Moët Hennessy) leader of the luxury segment, being the largest producer of articles in this market. The group differentiates itself through a value strategy, favoring the modernization of products and brands. Thus, the production capacity is developed, as well as continued investments in communication. But LVMH it is not alone in this luxury kingdom.
One of his biggest competitors, Kering Foundation focuses on combating domestic violence as one of its main focuses. Regarding sustainability, the holding company says it has implemented a production policy that is more committed to the environment. His portfolio includes brands such as Gucci, Saint Laurent Paris, Bottega Veneta, Brioni, and others.
Another competitor, The Richemont, established in 1988, is headquartered in Switzerland, chaired by Johann Rupert, who engages in the luxury goods trade on the internet, responsible for Net-a-Porter, a luxury online retailer. The group preserves the autonomy of its brands with the philosophy of investing in them, even when they are not highly profitable.
But the real question is, is there actually one polo that controls the luxury market? Or it is us consumers that are in control?