Wednesday, 6 October 2010

Luxury News In Brief 6/10/10

Just a couple of interesting news items from over the long weekend. Louis Vuitton has raised the prices of some of its iconic monogrammed and other classic handbags– up to nine percent in some cases in the Euro zone. Certainly a sign of the times, specifically that the economic climate is looking up. Vuitton is making a confident statement about their own popularity, one we think could perhaps also be a strategy to increase overall sales? The luxury industry can read this as a sign of recovery, and look forward to a bright future.

In other news, Cognac legacy Kilian Hennessy has passed away- at the ripe old age of 103! Just goes to show that good cognac has its health benefits. With his cognac and early retirement combination, he may have been onto a good thing. Kilian Hennessy was CEO of the company in the 70s, steering it into a merger with Moet & Chandon to create Moet-Hennessy in 1971.

Last but not least, it is interesting that brands are pulling out of iPad’s iAds left right and centre. Due to repeated rejection of ads that must be approved by Apple’s California headquarters before being included in the plan, high profile names like Chanel have had enough and withdrawn their business. Unusual to see an unpopular Apple initiative, let’s see if they can turn things around…

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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,