Tuesday, 6 January 2009

Longevity for Luxury in the East - 1 January 2009

Welcoming the new year in with some good news, particularly from this part of the world....

Francois Henri-Pinault owner of the Pinault Printemps Redout (PPR) Group said he expected 2009 to be a tough year for the group, which owns luxury brands including YSL, Balenciaga and Alexander McQueen.. CEO of the PPR Group told Grazia Middle East as reported in the Arabian Business.com that he expects 2009 to be a tough year.. “We have a very important slowdown nut not in the same way all over the world. It’s tough in Europe and America but Asia is still growing.”

“We will be very selective in investment next year but always moving upwards, upwards towards luxury. The danger would be to go down and that would be the wrong strategy for us. It’s about dreams and there is no crisis for dreams,” he told the magazine.

Long may that live... We will revisit these comments in a six months time to see where it is trending.

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au