A recent
WWD article stated that a smaller and stronger core of luxury brands will likely emerge after the recession. Based on a poll taken by Abrams Research of 100 industry experts, Top Shop ranked top along with Chanel-- two vastly different brands with similar business strategies-- sticking with what you know. Either you're a discount brand or one that doesn't compromise quality no matter the economy, you should stick to it to build brand loyalty. I think I learned that in Marketing 101. Glad to know the folks at Chanel and Top Shop took heed of all they learned in Business school, too. Among other brands expected to stay afloat are Louis Vuitton, Forever 21, H&M and Marc Jacobs, Hermès, and J. Crew. Other brands that got traction included Cartier, Yves Saint Laurent, Gucci, Rolex, Tiffany & Co., Diane von Furstenberg and Prada (reportedly losing 5 mil a day). This all goes back to my philosophy of shopping, never give into the hype-- buy what you really love. Indulging in things you adore is true luxury.
top shop is awesome
As is in life, compromise never works. I think at the core of the art of fashion is a refusal of the commonplace and the celebration of the individual in all his/her distinct glory and ambition. If a design house forgets the value of its' foundation and gives in to the pressure of being marketable, it will lose not only the integrity of its' vision but all the loyal customers who had onced celebrated its' art. Economics and art will always be a struggle of wills.