Stones International: Challenges & Opportunities Facing the Luxury Industry
The luxury industry has gone through a series of changes in order to adapt to the new competitive landscape. To better understand the challenges and opportunities facing the industry, Stones International hosted a panel discussion with three luxury industry experts. The report highlights the growth of the luxury industry, the effects of digital media and the assets needed to successfully lead a luxury brand.
Among the findings:
- The U.S. has the biggest growth opportunity
- Growth will depend on brand, price range, product category and business model
- The idea that small is beautiful has not been lost on the luxury conglomerates - big luxury groups are looking to invest in early stage brands with growth potential
- The luxury industry is experiencing shifts in consumer preferences
- Social media engagement and interaction is key to developing the brand story
The full report is published on IIC Partner’s website. Read the full report.