How luxury is killing off the brand
Luxury magazine Vanity Fair recently ran a piece titled “How luxury is Killing Off the Brand,” which posits that the rise of luxury is the final chapter of the decline of the American brand.
In the article, Vanity Fair editor-in-chief, Lauren Goode, calls the decline in the luxury brand a “disaster” that’s going to take a toll on the brand’s future, as the magazine predicts that the next “luxury” will only be “the best in the world,” and “a luxury that’s also a fashion accessory.”
“It’s time to go to the source,” she wrote.
“The most successful brands in the past decade have all been about a mix of the two: high-end products that make you feel good about yourself, and a premium lifestyle that keeps you focused and engaged.”
Goode’s piece, which appeared in the publication’s August issue, was an argument against luxury products, which have been on the rise in recent years, and for a higher-end lifestyle, which has also seen a boost in popularity.
While luxury brands such as Versace and Burberry have seen their sales rise since 2016, the American luxury brand has struggled.
In a statement released by the company in December, a spokeswoman said that it’s working hard to build a sustainable business model and is committed to continuing to offer a variety of products that customers want and need.
“We’re working with brands to create more high-quality products for our customers to enjoy and discover,” the spokesperson wrote.
“[Luxury] products are the best, the best and the best at what they do.”
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