Monday, 17 August 2009

Customers Are No Longer Craving Croc Skin Handbags – 17/8/09

Exotic skin handbags seem to have fallen out of favour according to an article in The Associated Press over the weekend. We read that alligator and crocodile farmers have reported huge reductions in demand for their reptiles, in some cases as much as 86 percent. Apparently "Gators bought Louisiana farmers and hunters $71 million in 2007, modest revenue even at that peak. This year, revenue is expected to be closer to $10 million in 2009, a drop like locals say they've never seen." It is definitely a case of ‘see you later alligator’!

This development is completely the opposite of what we reported in the MO Down for 8 June (Customers Are Still Snapping Up Hermes Croc Skin Bags), when Hermes’ CEO Patrick Thomas said they were experiencing “massive over-demand” on their exclusive crocodile skin bags. So what we take from this, is that it's not any old reptile handbag, shoe, belt, watch strap that will sell, it's about a brand having a history associated with using exotic skins.

Article by: Melinda O'Rourke

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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,