How the luxury market works
Once upon a time, the main appeal of luxury brands was being exclusive and unobtainable. But online trading has changed this dramatically. Lucy Douglas looks at how high-end goods companies are coming to terms with modern-day marketing
AOn 15 March, the world’s largest luxury goods company, Louis Vuitton Moët Hennessy (LVMH), announced that it would use its perfume production to make hand sanitiser in order to help the fight against COVID-19. The factories that usually turn out famous fragrances under the Christian Dior and Givenchy brands would instead produce tonnes of hand sanitiser for French hospitals.
Other luxury brands have made similar announcements. In Italy, companies such as Prada Group and Giorgio Armani have made financial donations to support hospitals in addition to using their manufacturing capacity to produce gowns and masks for doctors and patients.