LVMH and Kering Rule Luxury; It’s Time to Move On
In the world of luxury fashion, two giants—Kering and LVMH (Moët Hennessy Louis Vuitton)—have long ruled supreme. Setting trends, influencing tastes, defining what luxury means to millions of people worldwide, these companies have molded the sector. But when we explore the present situation of luxury apparel, a strong case arises: aside from high couture, luxury has basically evolved into mass-produced retail. The sector, customers, and creatives might all be ready to break out from this paradigm.
Dominance of LVMH and Kering
Under names like Louis Vuitton, Christian Dior, Gucci, and Saint Laurent, LVMH and Kering oversee a sizable share of the luxury market. Strategic acquisitions, a large worldwide retail presence, and brand reputation leveraging have helped them to reach this high prices for their goods. Unquestionably, they are successful, but their success comes with a price to the core of what luxury meant.
From Accessibility to Exclusivity
Once luxury was defined by uniqueness, handcrafted work, and personal service. But as profit maximization and expansion drive demand, luxury items have lately been more easily available to a larger audience. This change was enabled by:
Mass Production: To satisfy worldwide demand, even luxury brands now depend on mass production, therefore compromising the unique character of luxury goods.
Seasonal Collections: The unrelenting cycle of fashion seasons has produced an oversupply of goods where originality gives place to universality.
Luxury labels have embraced outlet stores and discount events, therefore advancing the commoditization of luxury.
Haute Couture: The exception
For these companies, high couture is still the stronghold of actual luxury. It’s where the artistry of fashion, with its painstaking attention to detail, custom fit, and handcrafted procedures, is maintained. But couture is, by design, only for a very small audience and accounts for a meager portion of these enterprises’ income. This degree of luxury is more aspirational than reasonable for the regular customer.
The Argument for Onward Development
The LVMH and Kering-dominated modern luxury model has various ramifications:
A few companies controlling the majority of the market runs the danger of stifling innovation. Smaller, independent designers and brands could find it difficult to break through, therefore homogenizing style and inventiveness.
Cultural Change: Younger especially consumers are appreciating authenticity and personal connection above brand reputation more and more. Their search is for companies that speak to their beliefs rather than only their budgets.
The Way Ahead
Moving forward redefines the luxury market rather than means rejecting it.
Encouragement of a scene whereby emerging designers may flourish—perhaps by means of funding, mentorships, or venues that give innovation above mainstream appeal top priority.
Consumer Education: Changing demand and expectations by teaching consumers what actual luxury means—craftsmanship and uniqueness— and no doubt that has suffered as we are seeing this on may of the retail products.
Digital and Experiential Luxury: The future of luxury might lay in experiences, digital goods, or services that cannot be mass-produced and hence provide uniqueness in fresh forms.
LVMH (Moët Hennessy Louis Vuitton) owns a vast portfolio of luxury brands across various sectors. Here is a comprehensive list of some of the notable brands under LVMH:
Fashion & Leather Goods:
Louis Vuitton
Christian Dior
Fendi
Céline
Loewe
Kenzo
Givenchy
Marc Jacobs
Emilio Pucci
Berluti
Loro Piana
Rimowa
Patou
Perfumes & Cosmetics:
Christian Dior Perfumes
Guerlain
Givenchy Beauty
Benefit Cosmetics
Make Up For Ever
Fresh
Acqua di Parma
KVD Beauty
Watches & Jewelry:
Bulgari
TAG Heuer
Hublot
Zenith
Fred
Chaumet
Tiffany & Co.
Wines & Spirits:
Moët & Chandon
Dom Pérignon
Veuve Clicquot
Hennessy
Glenmorangie
Ardbeg
Krug
Château d’Yquem
Selective Retailing:
Sephora
Le Bon Marché
La Samaritaine
DFS (Duty Free Shoppers)
Other Activities:
Les Echos (media)
Cheval Blanc (hotels)
Belmond (luxury travel)
Kering owns several renowned luxury brands across various sectors including fashion, leather goods, jewelry, and eyewear. Here are the major luxury brands owned by Kering:
Fashion & Leather Goods:
Gucci
Saint Laurent (Yves Saint Laurent)
Bottega Veneta
Balenciaga
Alexander McQueen
Brioni
Jewelry:
Boucheron
Pomellato
DoDo
Qeelin
Other:
Kering Eyewear (which produces eyewear for many of Kering’s brands and some external brands)
Kering Beauté (beauty division, focusing on cosmetics and fragrances for Kering’s brands)
Shayne Heffernan
