As I was cruising down the highway, I passed the not-so-glamorous Newark Liberty Airport, and luxury came calling. Was it ironic that I was in a black, luxury crossover? Maybe. But what struck me was actually a Budweiser billboard that proclaimed its “Black Crown” brew to be the drink of choice selected by and for “the finest in the nation”. See “Black”, read “Luxury”. Now where have I seen that before?
The spectacular rise of the Chinese luxury market has created unprecedented opportunity as well as, arguably, the greatest challenge for the world’s top luxury brands. Faced with an influx of logos and labels, China’s wealthier urban consumers have found themselves surrounded by flagships, inundated with ads, and spoiled with choices. Still at a relatively early stage of brand awareness, this consumer class has distinguished itself as legendarily fickle, shifting from brand to brand based on friends’ purchases, dictums from fashion magazines and blogs, the broader social landscape, and price.
Last week Fashion’s Collective had the honor of curating and moderating a main-stage panel at New York’s Internet Week. Internet Week is an annual hallmark event focused on internet business and culture for a wide audience of brands, agencies, and technology vendors that span many industry verticals. It is only this year that Internet Week has taken a noticeable focus on the fashion and luxury industry.