Posted by Barry Silverstein on April 25, 2012 01:01 PM
The insatiable Chinese consumer is one of the big reasons luxury brand marketers like the French conglomerate LVMH took the recent economic downturn in stride.
LVMH, owner of iconic brand names including De Beers, Fendi, Givenchy and Louis Vuitton, recognized years ago that China represented a burgeoning luxury market. Along with European competitors like Hermes and Burberry, LVMH aggressively sought out Chinese retail channels for its products.
Even though luxury products continue to enjoy popularity, there are signs that store sales may be leveling off in China. That's why LVMH is looking to the Internet as a new way of engaging upscale Chinese consumers, as evidenced by the launch of a Chinese-language version of its Nowness.com portal.Continue reading...
Posted by Sara Zucker on December 18, 2009 02:18 PM
Fashionistas wept when eLuxury closed earlier this year, but they will be pleased to learn that the online boutique has been turned into a web magazine called Nowness.
According to luxury firm LVMH, a shift in the market -- and not in sales -- lead to eLuxury’s closure. The past year has seen many design brands concentrate on custom e-commerce sites, crowding the category and spreading thin demand. Nowness will feature a more comprehensive scope, and focus on a variety of creative fields including fashion, art, design, entertainment, travel, food and wine, and beauty.Continue reading...