Luxury meaning exclusivity, this market segment enables consumers to purchase high fashion pieces at a cheaper price, yet still in the umbrella of the "elite market". Prices are strategic in a sense they are available to a specific market that makes the consumer feel they're a part of this elite market.
LUMH
KERING
RICHEMONT
= The 3 main luxury groups.
There is a huge variety in price entry levels in luxury fashion.
There is a huge variety in price entry levels in luxury fashion.
Luxury Fashion originates in the late 19th century. Labels like Louis Vuitton, Hermes, Gucci, Prada and Burberry are the main players in the Luxury fashion market.
This segment targets consumers with a high disposable income, those that earn over £100,000+ a year with a target age of roughly 35-54. China is the largest consumer group.
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