Good Morning,
DID YOU KNOW?
Montage Hotels (average $700-1,200/night) founder Alan Fuerstman identified a major shift in the concept of LUXURY when he founded his chain of hotels 16 years ago.....the ultra luxury world was changing .....old-world concepts of luxury were changing....becoming less pretentious, more focused on comfort, more casual, more centered on quality, less quantity. Luxury must remain SPECIAL. Another lesson: Focus on markets that can support luxury and the costs it takes to deliver this. During the great recession it was less about discounting and more about VALUE ADDING.....less conspicuous consumption. A key to surviving storms? Keep debt low. (Yahoo Finance)
DID YOU KNOW?
Tiffany will be acquired my LVMH for $16.2 billion. I love how Tiffany places a similar experience/feel/mood to the marketing of both a $100 keyring and a $20 million diamond. Both feel aspirational and elevated to the buyer....marketing genius! Of course that $20 million diamond gets extra-special care and treatment and is featured in the Fifth Avenue window to allow us all to aspire and dream....
DID YOU KNOW?
Have you noticed the change in luxury retail? "Offer a truly authentic experience. An experience that is so memorable and unique that consumers pay the enormous premiums that luxury brands can charge." ( Economist)
DID YOU KNOW?
DOW 28,000......wow! The DOW is up 20% so far this year.....The S&P 500 is up over 24.5%. Expect a strong BONUS SEASON in the financial markets....we see the effects of this already in New York after a long, cold Summer/Fall season!
