Maybe Less is Better

The fashion industry has been dealing with exponential growth for the last 10 years but this has come to a halt. It seemed like luxury brands kept opening new stores across the globe, while the online luxury multi-brand shops went from being original, niche & community driven boutiques to mass selling giants with little product differentiation from their competitors. Of course, many made a lot of money during this period, but for some it was too much to handle from overhead to the management. The luxury slow down due to economic challenges and consumer fatigue forced many to close or change direction.

What if CEOs and their consultants had a more long-term perspective and encouraged moderate growth. Perhaps more companies would be able to keep their original point of view and and be better equipped to face uncertain times, stay agile and focused on quality at all levels of their organization. It seems that since the 2010s, more and more companies and people for that matter felt this need to be everywhere. For luxury this was a problem from the start as exclusivity and differentiation are critical success factors to the business.

Hopefully the challenging times encourage brands, retailers, and creatives to focus on the long game. To stay true to their original visions and unique offering. Perhaps, the changes will also give more visibility to those who have been able to stay authentic and moderate in size such as Andreas Murkudis in Berlin or Michel Brisson in Montreal.