Why Rich People (sorta) Don't Wear Luxury
ALEXANDER・2 minutes read
Luxury conglomerates like LVMH and Kering dominate the industry, led by figures like Bernard Arnault. The middle class is the main consumer base for luxury goods, with Major League brands facing challenges post-pandemic while Minor League brands like Brunello Cucinelli thrive with the billionaire population.
Insights
- Major luxury conglomerates like LVMH and Kering dominate the industry with a significant market valuation, highlighting their immense influence and power within the luxury market.
- The middle class, not the elite or upper class, serves as the primary consumer base for luxury goods, underscoring their pivotal role in supporting the industry's growth and shaping consumer trends, especially in the post-pandemic landscape.
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Recent questions
What defines luxury products?
Premium price, exceptional craftsmanship, wealth symbol.