Wednesday, 15 July 2009

The Luxury Market Hasn’t Lost Its Lustre – 15/7/09

For us at the MO Down, the essence of a true luxury brand is the heritage, uniqueness and rarity. So, we certainly didn't agree when we read Michael Likosky’s Huffington Post article, A Fashion Foreign Policy.

Likosky suggested that since the 1980s, the luxury market has been going downhill due to outsourcing to foreign manufacturers. Likosky also had the cheek to say, "Right now, the luxury label tells us more about price than value. Luxury invokes design, material and artisan labor. The artisans built the luxury labels, which the banks and luxury houses are now cashing out."

We can’t deny that the luxury market has changed since the 1980s. But the changes reflect the evolution of an industry, the brands and the times we live in. More people covet and purchase luxury goods now, so the manufacturing process needed to be recalibrated to manage this demand. Also, we must point out that most of the luxury brands still have traditional artisans’ workshops. And brands, like Hermes, Chanel and Louis Vuitton to name a few, have often gone out of their way to purchase several artisans’ workshops to prevent them from becoming extinct. So, this artisans’ expertise is still alive and well, and being used in the majority of luxury goods. We hope that Likosky checks his facts before his next luxury market appraisal.

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Who's behind the MO DOWN

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,