Friday, 16 April 2010

Examining The Billionaires Behind The Luxury Brands – 16/4/10

We recommend you read this interesting article by Forbes, entitled “Who Is Getting Rich Off Your Shopping Sprees?”

In essence, it covers the high-end luxe brands in New York through to H&M and Apple... It mentions Bernard Arnault as “leading the charge” of the billionaires benefiting from shopping sprees - as the shares of the luxury house are up nearly 18 percent for the year and have more than doubled from their 2009 low, enough to boost Arnault's fortune by $11 billion and make him Europe's richest person for the first time.

If we put a local slant on this article, we wonder if perhaps George Street Sydney will be the new Fifth Avenue... with Bernard Arnault's Louis Vuitton mega flagship store on the corner of King and George Street slated for opening in 2011, right next door to Steven Job's existing Apple emporium on the other side of King and George Street. There are Myer and the QVB further up George Street, and then Burberry and Paspaley will be neighbours further down George Street, as one makes their way towards the Four Seasons Hotel, before you hit The Ivy coterie of commercial and branded boutiques. Don't "they" say, it really is "all about the mix" when you are shopping, there is clear methodology in these evolving luxury brand strategies for key destination positions.

Image: The Blacket Hotel Sydney (proposed new site for Louis Vuitton's Flagship Store) and Apple Retail Store both George Street Sydney

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,