Global Luxury Market
Through globalisation of the luxury brands, today, not all are treated equal, and some brands are given new levels of importance, depending on the countries point of view (POV). To clearly understand what is considered luxury from a global perspective, I have created this assignment to challenge you as a class. Through this assignment, you will have a chance to share different countries’ POV on the ‘luxury’ market. Please note to conduct this research, you need to explore what each country values and have the insight to back your findings.
We are facing a new model of growth as the existing luxury market matures. The splintering of the market is driven by the cultural diversity of the high-net worth market. Their needs are different and their approaches to fulfilling those differ too. More People, New Skills – The ability to recruit and retain the right people lies at the heart of sustainable success. In a changing market, we are seeing new skills enter, skills essential in the luxury industry up to speed with other high margin organizations such as Apple. Heading towards 2020, the luxury market will see an influx of skills from outside the luxury sector arriving to accelerate development.