Wednesday, 19 May 2010
Social engagement, exclusivity and uniqueness are what Gen Y look out for in the luxury industry. They are not after the status symbol that comes with high end fashion, but rather this influential generation are seeking an experience that is worthy of their dedication to a brand.
LuxuryLab’s recently held ‘Generation Next Forum’ revealed that Gen Y are setting the boundaries for the fashion industry, as they constantly seek out brands that will engage with them on a new level.
As companies strive to provide a truly authentic experience, Gen Y are happy to become loyal to the brand. When a brand lacks this engagement, is where we see a difference between Gen Y and their parents; “this influential, internet-empowered generation will go out and find somebody else who does — and if that doesn’t exist yet, they’ll create it themselves.”
Image credit: purseblog.com
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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, www.moluxury.com.au