News that PPR are looking to buy Brioni strikes a sour note. What were once considered world class purveyors of luxury goods have mostly become consumed by the luxury brand conglomerates in France. LVMH, Richemont, PPR etc dominate retail with the intention of global domination.
Before LVMH, Richemont and PPR came along Louis Vuitton, Christian Dior, Cartier and even Hermes were in essence makers of the finest goods money could buy. Hermes is, much to their understandable annoyance, sadly, slowly being absorbed by LVMH. What we are left with is more product, less real expertise and a myriad of stuff that are fashion led seasonal offerings with a splash of tat. Hermes sell playing cards, Louis Vuitton selling city guides and a Dior (not Christian Dior anymore) website dedicated to make-up.
I do feel that the continued expansion of luxury brands does nothing other than diminish the integrity of the product in order to satisfy the shareholders demand for increased dividends and ultimately, probably, bigger yachts and more plastic surgery.
Product diversification diminishes the inherent value of producing luxury products. As I have said before luxury is not something that can be mass produced or consumed. It feels a bit like a comic book film where world domination is the aim - hopefully in this case the villains won't succeed - although I must admit that it is unlikely unless more heroes join the battle for real luxury .
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