During a recent trip to Los Angeles, I picked up Modern Luxury’s Angeleno Magazine. In the magazine, there was a fascinating letter from its Publisher Alan Klein. It was in response to a recent Newsweek article “Luxury Shame.” This new buzzword was recently coined in the article and has since caused luxury brands backlash.
“Is it true brand retailers on Rodeo Drive, at the request of their customers, are providing paper bags instead of their recognizable Tiffany Blue shopping bags?”
“How will luxury brands survive in this economy?”
These were two questions asked by Klein. His answer?
The great luxury brands survive difficult economic times because they continue to focus on what has always made them successful – providing the highest quality products on the planet.
I agree with Klein. A good brand will survive even during the most uncertain economic times.