Luxury: The new rules
Luxury USA is re-evaluating its priorities post pandemic as macro-economic clouds start to gather. After three years of covid, what lessons have been learned and how can brands future proof for a more politically astute and saavy clientele?
The good news is that despite inflation and price increases forcing consumers to tighten their belts, affluent Americans continue to spend on luxury goods and experiences. Whilst Europe and China saw accelerated growth last year, the US luxury goods sector enjoyed a solid rebound. Cities such as Austin, Pittsburgh and other non-coastal cities are experiencing a new luxury status as people relocated across the USA during the heights of the pandemic. The turbulence in international markets has highlighted the importance of local.
As part of taking control, some brands are future proofing by taking control of their supply chains – acquiring their suppliers – giving them control over manufacturing and greater transparency for a politically aware clientele. Equally brands are continuing to invest more in ecommerce whilst some are revisiting bricks and mortar. And with an expanding Gen Z clientele, gaming partnerships and NFTs are set to offer new revenue streams for luxury brands.
The 2022 Luxury Law Summit Americas is a unique opportunity for general counsel and in house legal teams to discuss experiences and share insights on these latest trends and challenges. Bringing together the leading luxury brands, leaders and thinkers in luxury enjoy unrivalled access to this high end legal marketplace.
Luxury Law Summit
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