Chirag Sanjay Punjabi

𝗔 𝗗𝗼𝘀𝗲 𝗼𝗳 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗜𝗻𝘀𝗶𝗴𝗵𝘁 📝 Sharing our Luxury Consultant Summer Wong’s perspective on: ‘𝗪𝗵𝗮𝘁 𝗔𝗿𝗲 𝘁𝗵𝗲 𝗦𝗸𝗶𝗹𝗹𝘀 𝗙𝗮𝘀𝗵𝗶𝗼𝗻 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲𝘀 𝗡𝗲𝗲𝗱 𝘁𝗼 𝗚𝗲𝘁 𝗛𝗶𝗿𝗲𝗱 𝗧𝗼𝗱𝗮𝘆?’, an article from BOF. The article discussed about the essential skills fashion executives need to secure employment in today’s dynamic luxury industry. We would like to highlight that effective communication and clienteling have become more crucial than ever in this rapidly evolving era. Fashion executives must possess exceptional communication skills to articulate their ideas, build strong relationships, and inspire teams and customers. So what should we know more about communication/clienteling? We are delighted to invite you to join our founder Gogo Cheng and our dear friend and luxury clienteling expert Séverine Reymond for "𝗜𝗻 𝗣𝘂𝗿𝘀𝘂𝗶𝘁 𝗼𝗳 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗟𝗼𝘆𝗮𝗹𝘁𝘆" 𝘄𝗲𝗯𝗶𝗻𝗮𝗿. In this webinar, one of the topics we will discuss is 𝗰𝗹𝗶𝗲𝗻𝘁𝗲𝗹𝗶𝗻𝗴'𝘀 𝗽𝗶𝘃𝗼𝘁𝗮𝗹 𝗿𝗼𝗹𝗲, you are more than welcome to share your thoughts with us and we could discuss more in the webinar! The webinar will be hosted at 𝟲 𝗣𝗠 𝗛𝗞𝗧/ 𝟭𝟮 𝗣𝗠 𝗖𝗘𝗧 𝗼𝗻 𝘁𝗵𝗲 𝟭𝟲𝘁𝗵 𝗠𝗮𝘆. We will be welcoming a small group of participants to allow for quality interactions, so message us or email [email protected] now to reserve a spot 💺 ! We look forward to seeing you there ❤️ Click here to view the full article: https://lnkd.in/dPJbJM4u #GogoChengConsulting #CustomerLoyalty #Communication #Strategy #InPursuitofCustomerLoyalty

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𝗔 𝗗𝗼𝘀𝗲 𝗼𝗳 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗜𝗻𝘀𝗶𝗴𝗵𝘁 📝 Sharing our Luxury Consultant Summer Wong’s perspective on: ‘𝗢𝗽𝗶𝗻𝗶𝗼𝗻: 𝗪𝗵𝘆 𝗹𝘂𝘅𝘂𝗿𝘆 𝗯𝗿𝗮𝗻𝗱𝘀 𝗻𝗲𝗲𝗱 𝗮 𝗯𝗹𝘂𝗲𝗽𝗿𝗶𝗻𝘁 𝗳𝗼𝗿 𝘀𝘂𝗰𝗰𝗲𝘀𝘀’, an article from Jing Daily. The article sheds light on the significance of having a well-defined blueprint for success in the luxury industry, including a long-term vision, brand storytelling, design, and building #CustomerLoyalty.  We would like to highlight that luxury brands need to prioritise cultivating meaningful #CustomerRelationships in the blueprint for success. Brands should incorporate #CustomerLoyalty strategies to engage consumers beyond transactions, such as personalised communication, exclusive events and loyalty programs. By fostering a sense of community and providing exceptional customer experiences,  brands can establish a loyal customer base and drive advocacy, resulting in increased brand loyalty and positive word of mouth! We are delighted to offer  “𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗟𝗼𝘆𝗮𝗹𝘁𝘆 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 “ consulting service, help you to review the core pillars of your customer acquisition and retention tactics. We support you in developing or fine-tuning your customer loyalty strategy rooted in the brand value, business model, and unique service positioning.🌟 How are you adapting your strategies to meet the evolving demands of luxury consumers?  Share your thoughts in the comments below and connect with Summer to chat more! 🗣️❤️ Click here to view the full article:  https://lnkd.in/gr9Xrktz #GogoChengConsulting #CustomerLoyalty #BusinessSuccess #CustomerExperience #CustomerService #Communication #Strategy #TheArtandScienceofClienteling

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This article explores the luxury fashion sector but also imparts invaluable lessons for brands across different industries aiming to enter the Chinese market:https://lnkd.in/gs9_UMpT Here's a concise list of what brands can learn from this article: ✨Understanding the Younger Demographic: Recognize that 50% of Xiaohongshu users were born after 1995, highlighting the need to cater to this digitally savvy and influential cohort. 🤳Embrace Digital Trends: Leverage social media platforms like Xiaohongshu and stay current with emerging digital trends to connect with tech-savvy Chinese consumers. 🏃Agility and Adaptability: Ensure marketing efforts are agile and responsive, capitalizing on timely opportunities in the fast-paced market. 🪡Customized Content and Experiences: Create tailored content and experiences by using local insights and collaborations to effectively engage the target audience. 🌟Influencer Marketing Insights: Understand influencer marketing in China, which includes a diverse range of influencers and KOLs beyond traditional celebrities. 🧰Utilize Innovative Tools: Explore innovative digital tools like mini-programs and immersive experiences to enhance consumer engagement and transactions. By incorporating these insights, brands can successfully maneuver the Chinese market successfully and carve out a meaningful presence amidst competition. 💫 🖖

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𝗕𝘂𝗿𝗯𝗲𝗿𝗿𝘆 𝗕𝗮𝗰𝗸 𝗶𝗻 𝘁𝗵𝗲 𝗦𝗽𝗼𝘁𝗹𝗶𝗴𝗵𝘁 𝗮𝘀 𝗠𝗼𝗻𝗰𝗹𝗲𝗿 𝗧𝗮𝗸𝗲𝗼𝘃𝗲𝗿 𝗥𝘂𝗺𝗼𝘂𝗿𝘀 𝗦𝗽𝗮𝗿𝗸 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗕𝘂𝘇𝘇 The recent surge in Burberry shares has reignited investor interest, fuelled by speculation of a potential takeover by Italian luxury giant Moncler. Reports suggest Moncler, with the backing of LVMH, could be eyeing an acquisition of the iconic British brand, a move that could reshape the luxury landscape. LVMH recently acquired a stake in Double R, a vehicle associated with Moncler’s CEO, raising the likelihood of further consolidation within the sector. As one of the few independent British luxury brands of scale, Burberry’s appeal is bolstered by its rich heritage and a reduced market valuation, which has dropped nearly 20% this year amid challenging conditions in the luxury market. Analysts see Burberry’s current valuation and brand reputation as advantageous for a takeover, aligning with a broader industry trend of mergers as brands seek stability in a shifting global economy. Moncler, which has expanded through collaborations and acquisitions such as Stone Island, could leverage Burberry’s strengths to diversify and solidify its position in Europe and beyond. #LuxuryIndustry #MergersAndAcquisitions #Burberry #Moncler #LVMH #FashionIndustry #Investment #analysis

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From Korea to Global: Farfetch Elevates Coupang’s E-Commerce Empire Coupang, South Korea’s leading e-commerce firm, reported a 25% YoY increase in net revenues for Q2, or 18% excluding FARFETCH. The Product Commerce segment grew 13% YoY, and net revenues per active customer rose by 5%, reflecting strong overall growth and effective integration strategies. “This quarter, we saw deeper customer engagement due to our relentless focus on enhancing selection, service, and savings, and we remain committed to WOW moments and continuous improvement through investments in infrastructure, technology, and automation,” said Gaurav Anand, CFO of Coupang. Farfetch was acquired by Coupang on March 11, 2024, in a $2.2 billion deal that boosted Coupang's revenue by $1.2 billion, enhanced profit margins, and strengthened market presence, setting the stage for sustained financial growth. Active customer growth surged 12% YoY, and Coupang's Developing Offerings segment saw a remarkable 470% increase, or 177% excluding Farfetch, highlighting the success of strategies for both retaining and attracting users. The Korean Fair Trade Commission’s $121 million fine for alleged anti-competitive practices impacted Coupang’s financial results this quarter, but the company remains focused on operational efficiencies and innovation to sustain its growth. With  $5.8 billion in cash and a focus on innovation, Coupang is poised to seize the untapped e-commerce market. The company remains optimistic, aiming to enhance technology and expand globally. #farfetch #luxury #ecommerce #online #innovation #technology #korea #coupang #marketing https://lnkd.in/ee3qj_gi

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Style Arcade’s Week in Fashion 💎 Unpacking the latest fashion updates and trending news making headlines across the industry: 🛍️ Kering issued its third profit warning this year as third-quarter sales dropped 16 percent to €3.78 billion ($4.08 billion), falling short of expectations. The group faced a market-wide slowdown, with major brands like Gucci, Saint Laurent, BALENCIAGA, and McQueen seeing double-digit declines, while Bottega Venetta and eyewear posted modest growth https://loom.ly/klHxkBQ 📉 LVMH reported a 5 percent drop in third-quarter sales in its core fashion and leather goods division, impacting major brands like Louis Vuitton, Christian Dior Couture, Loewe, and CELINE: https://loom.ly/vWXIgxQ 📱 With the upcoming election ad blitz from Kamala Harris and Donald Trump flooding social media, Google ad costs have already risen by 10%, and further increases are expected. Brands are now turning to alternative channels like SMS marketing and shopping newsletters to cut through the noise and reach customers ahead of the holiday season: https://loom.ly/jrsBwpo 📸 Reuters #fashionnews #fashionindustry #businessreport #fashionintelligence #retailnews:

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The Secret Behind the Impressive Rise of K-Beauty (part 1) K-Beauty has recently become a major global topic. As of the first half of 2024, South Korea has become the top cosmetic import country in advanced markets like the #UnitedStates and #Japan. Rising since the 2010s, K-Beauty initially gained recognition through #Kpop and #Kdramas, multiplying its annual revenue several times and expanding its presence. The global market size of K-Beauty is currently around 16.15 billion USD, with an annual export value of 7.69 billion USD as of 2023. Let’s first look at the U.S. The trending beauty look in the U.S. right now is the glossy, radiant "Glass Skin." And surprisingly, it was K-Beauty that sparked this "Glass Skin" trend. #KBeauty focused on skincare as its primary target in the U.S., where preferences for makeup styles differ from those in Korea. A key factor in this strategy was influencer marketing via social media. Platforms like #TikTok and Amazon played pivotal roles, where influencers showcased impactful before-and-after videos to demonstrate product effectiveness. These videos not only captured attention but also simplified the purchasing process. Utilizing the term #GlassSkin, which instantly conveys an image of clear and luminous skin, was a particularly brilliant strategy.

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2024 has marked a downturn for the luxury market and is not expected to get better early. It has been recognized as the 6th worst year for the sector in 20 years. According to HSBC Global Research, the luxury sector growth forecast has been lowered to 2.8% from 5.5%. In good news, this year’s Paris Olympics opened new doors with Bernard Arnault’s masterstroke (LVMH's CEO, now also known as the "Godfather of the Olympics" — for the right reasons). LVMH made a high-profile debut by enhancing the Olympic experience, from Vuitton’s medal cases to Dior’s athlete outfits and more. This is the first time a luxury conglomerate has taken such a significant interest in supporting the Olympics at this scale. Before this, luxury brands were usually aligned with exclusive sports like polo and golf. Now, brands like Prada have also started to reshape this approach by entering the world of sports sponsorship and athlete partnerships for competitions such as the FIFA Women's World Cup. This tells us luxury marketing is not going to be catered just to the affluent anymore; the goal now seems to be making luxury aspirational and more visible—sports seemingly appear to be one of the ways to achieve this for now. Acquiring new customers for luxury brands is crucial. As the sector adapts to these changes, will it be able to position itself to engage a broader audience and attract new clientele?

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India: The Next Luxury Fashion Frontier? Is India poised to challenge China's dominance in the global luxury market? The luxury fashion industry is undergoing a seismic shift. While China has long been the undisputed king of luxury consumption, a new contender is emerging on the global stage: India. With a burgeoning economy, a growing affluent class, and a rich cultural heritage, India is rapidly becoming a hotbed for luxury brands. Here’s why: 🔹 A Rising Affluent Class ▪ India's wealth story: The country has witnessed a meteoric rise in the number of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNWIs) in recent years. ▪ Aspirational middle class: A burgeoning middle class with increasing disposable income is fueling demand for luxury goods. ▪ Tier II and III cities: Luxury consumption is no longer confined to metros; demand is expanding rapidly in smaller cities. 🔹 A Unique Luxury Market ▪ Cultural heritage: India's rich cultural tapestry offers a unique opportunity for luxury brands to create culturally relevant products. ▪ Digital natives: A young, tech-savvy population is driving digital luxury consumption. ▪ Experiential luxury: Indians value experiences over possessions, creating new avenues for luxury brands. 🔹 Challenges and Opportunities While the potential is immense, challenges remain. High import duties, infrastructure bottlenecks, and a complex regulatory environment can hinder growth. However, these challenges also present opportunities for innovative business models and strategic partnerships. ▫ To succeed in India, luxury brands must: ▪ Understand the Indian consumer: Tailor products and marketing to resonate with local tastes and preferences. ▪ Embrace digital: Leverage technology to reach a wider audience and enhance customer experience. ▪ Invest in local talent: Build strong partnerships with local designers and artisans. ▪ Navigate the regulatory landscape: Seek expert advice to comply with local laws and regulations. India's journey to becoming a global luxury powerhouse is still in its early stages. However, the signs are promising. With careful planning and execution, luxury brands can capitalize on this immense opportunity and achieve long-term success in the Indian market. #India #LuxuryFashion #LuxuryMarket #Fashion #IndiaLuxury #LuxuryBrands #LuxuryLifestyle #highendfashion #indianfashion #success #opportunity #technology #challenges #heritage #infrastructure

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India: 🇮🇳 The Next Luxury Fashion Frontier Exciting times ahead as India gears up to redefine the luxury fashion landscape, mirroring China's success story! With a burgeoning middle class, soaring disposable incomes, and a deep-seated love for luxury, India is on the brink of becoming a goldmine for luxury fashion brands. International luxury giants are already making their mark, setting up shop and weaving collaborations with Indian designers to charm the discerning Indian consumer. Yet, the journey isn't without its hurdles. Infrastructure, understanding the nuanced Indian palate, and navigating cultural sensibilities are just the tip of the iceberg. The path is laid with both promise and challenges, but with strategic investments, innovative approaches, and collaborations that celebrate Indian heritage while catering to its modern aspirations, India is all set to dazzle the world as the next luxury fashion hotspot. #LuxuryFashion #Luxurybrands #GlobalLuxury

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Balenciaga’s Brand Crisis: Missteps That Cost Its Luster Balenciaga, a fashion powerhouse once celebrated for its innovation, is now facing a series of missteps that have severely impacted its reputation. Here’s a closer look at where things have gone awry: 1. Ineffective Crisis Management Balenciaga’s handling of its latest scandal has been marked by a lack of decisive action and transparency. The brand’s response failed to address the controversy with the urgency and sincerity required, leaving many consumers and critics questioning its commitment to resolving the issue. This mismanagement has only intensified the damage to its reputation. 2. Misalignment in Price Point Strategy Balenciaga’s pricing strategy seems increasingly out of sync with its perceived brand value. While the brand offers high-fashion designs, its pricing is often perceived as excessive compared to more accessible competitors like Diesel or Dion Lee, which offer similar aesthetic appeal at lower price points. This disparity has led to growing discontent among consumers who find Balenciaga’s luxury pricing less justifiable. 3. Reliance on Shock Value Instead of leveraging its reputation for craftsmanship and design excellence, Balenciaga has relied heavily on shock value to drive controversies and viral content. While provocative pieces can generate buzz, they often a let down in quality and execution. This approach risks reducing the brand to a gimmick rather than showcasing its core strengths. Moving Forward: Strategic Recommendations To turn things around, Balenciaga should focus on the following: Improve Crisis Management: Adopt a more proactive and transparent approach to crisis resolution. Engage directly with the public to address issues and rebuild trust. Reevaluate Pricing Strategy: Adjust pricing to better align with the brand’s perceived value and competitive landscape. Consider introducing tiered pricing or more accessible collections to broaden appeal. Strategize Design Releases: Limit the distribution of high-impact pieces to create exclusivity and elevate the brand’s prestige. Focus on crafting designs that are both controversial and masterful, showcasing the brand’s true craftsmanship and vision. Conclusion Balenciaga’s current challenges reflect deeper issues in crisis management, pricing strategy, and brand positioning. By addressing these areas with thoughtful and strategic actions, the brand has the potential to restore its standing and reestablish itself as a leader in fashion innovation and design excellence. Realign your brand goals today with a complimentary brand audit with us. Drop us a message now and elevate your brand. All images not ours.

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📉 Luxury Industry Update: LVMH's Q3 results highlight a notable slowdown, especially in the fashion and leather goods sector, which saw a 5% decline, bringing in €9.15 billion. Group sales dipped 3% overall, a contrast from the slight growth we saw in Q1 and Q2. According to CFO Jean-Jacques Guiony, brands like Louis Vuitton and Dior are facing mixed performances, with added pressure from weak consumer confidence in Mainland China. It’s eye-opening to see how external economic factors can heavily impact consumer spending in luxury. Despite these challenges, LVMH’s focus on product innovation and cost adjustments speaks to the adaptability that’s essential for resilience in luxury. As someone passionate about this sector, I’m curious to see how brands can not only recover but also innovate to maintain their allure.

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Over the last almost 2 years, there’s been a lot of change (both in my personal and work life), experiences (like London Fashion week, The Eras Tour, and growth since I joined SO...? Fragrance (parent company Incos LTD). 😊 As life got busy, I kinda stopped focusing on my personal growth so I’m making an effort to get that balance back. I’ve met a lot of people, made some amazing friends (you know who you are), learnt a lot, experienced new things, been a part of and executed some amazing campaigns. 🩷 I’ve managed budgets of different values (from £200 to £100,000+), worked with some incredible people (Georgia Harrison, Molly Marsh, Joseph Garrett, Anastasia Kingsnorth, Athena Wilson, Tyrique Hyde to name but a few) and challenged myself a lot. I’m finally taking some time to update my portfolio with all the things I’ve achieved during this time and no doubt more to come; starting with the growth in SO...? Fragrance’s socials, of-course! https://lnkd.in/eX6Vum9H 🔗 I’d love it if my network could check it out, any feedback is welcome! P.S. If you have anyone who’d love to get in touch to work with me on the side, that’s also welcome as I’m looking to start free-lancing again. 🩷 #socialmediamanager #casestudy #portfolio #influencermarketing #sofragrance #girlsinmarketing

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I’m super excited about the latest collaboration between Anushka Sharma and Michael Kors, and it’s a landmark moment in the luxury space! Not only does Anushka unveil an exclusive limited-edition timepiece, but she’s also the first female Indian celebrity to introduce a commercially available signature watch, how amazing is that? 😍 This partnership is a perfect blend of elegance and authenticity, with the timepiece reflecting both her style and Michael Kors’ timeless appeal. The marketing strategy behind this is on point, tapping into exclusivity with just 500 pieces, while also leveraging Anushka’s strong personal brand to reach a global audience. What I really love is how this collaboration is it pioneers a new direction for Indian celebrities in the luxury world. It shows how influencer marketing can drive global impact when done right. Watching the campaign unfold on social media, it’s clear that the attention to detail and storytelling is top-notch. The brand’s alignment with Anushka is seamless, and it’s definitely a case study in influencer-led luxury branding. Can’t wait to see how this shapes future partnerships in the luxury and fashion industry! 🤗 #AnushkaSharma #MichaelKors #LuxuryBranding #InfluencerMarketing #WomenInLuxury #MichaelKorsXAnushkaSharma #BrandAmbassador #MichaelKorsWatches

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