Since the moment fashion houses appeared in Poland and Polish versions of the international fashion magazines started to be published on a regular basis, a surge in demand for luxury goods has been observed. The fact that Polish economy is in better shape and increasingly younger customers can afford high-end products also play a role. In the biggest Polish cities, particularly in Warsaw, there is great interest in investments in cars, luxury clothing brands or jewellery.
Michel Kiviatkowski Managing Partner, Mazars in Poland
Conscious, collaborative, connected: making over the luxury business model
The luxury sector has always prided itself on offering consumers a chance to own pieces that are timeless and whose value and appeal will endure. But that doesn’t mean the way it produces and sells them should stay constant too. The luxury sector is at a crossroads and brands that carry on doing what they have always done risk falling behind. Our report, 'Conscious, collaborative, connected' explains why.
Published in partnership with Arianee, we reveal how the luxury sector is shaping a new business model that allows customers to experience and engage with brands in new ways and to purchase goods knowing they can be easily and expertly repaired and resold.
Conscious, collaborative, connected includes insights from luxury sector leaders, including Breitling, Comité Colbert, Kering and Vacheron Constantin, and draws from an extensive desk review of over 150 articles, reports and other sources.
Customer cohorts
The sector is increasingly selling to different people, in different parts of the world, and while they may all buy into the appeal of luxury, they hold subtly different tastes and expectations. New cohorts include HENRYs and Gen Z. Who are these new luxury customers and what do they want from luxury brands?
According to Michel Kiviatkowski, Managing Partner, Mazars in Poland, the luxury goods industry has also gained in importance in our country.
Luxury technology, ecosystem partnerships and circularity
Technological innovations are helping luxury brands update their model, while partnerships have become vital in ensuring greater transparency, circularity and environmental sustainability. How are leading brands collaborating with technology partners and building ecosystems that deliver necessary innovation? What new services stem from these partnerships?
Pivoting to experiences
After adopting digitalisation more gradually than others, leading luxury brands are taking the customer experience path, finding ways to harness e-commerce opportunities and tell their story digitally. But the digital and experiential pivot is not just about getting e-commerce and digital storytelling right. How are they creating a unique luxury experience underpinned by an online and offline continuum? What are the different dimensions of customer experience luxury businesses need to know about?
Read our new report to discover how the new luxury business model is set to address the challenges identified above. Full report and executive summary below.
Documents
Contacts
Isabelle Massa Partner - Paris
Interview: The luxury industry faces its future
Marking the release of Mazars’ new report on how the luxury business model is being made over, we speak to Comité Colbert CEO Bénédicte Epinay about the resilience of the luxury industry, the importance of Gen Y and Z to its future, and how sustainability is taking centre stage.
Mazars joins the Arianee project consortium
Membership reaffirms commitment to luxury innovation
Understanding luxury customers in China
12/06/2020 China is the world’s second largest luxury market, accounting for one third of global luxury consumption (and rising). To better understand customer tastes and trends there, Mazars has released a report and survey, Chinese luxury brand consumers that reveals what drives customers of different generations, genders and locations
Ethics at the heart of value creation
Brands are expected to adopt new practices and integrate ethics into their business models.