Exercice 4 : Hospitality industy : article Versace
Versace wants to diversified and expend his market by establishing luxury resorts around the world and the 1st 7 stars in dubaï.
Giancarlo, the chief executive, changes his way of thinking and decided to focus exclusively on products for the very wealthy people.
I think it's a really good idea because Versace lost it's notoriety due to the democratisation of the luxury : All classes middle and rich could buy versace products so its positionment lost value.
This is the main risk with labels : they have to stay in the wealthy market if not they put down.
Giancarlo, the chief executive, changes his way of thinking and decided to focus exclusively on products for the very wealthy people.
I think it's a really good idea because Versace lost it's notoriety due to the democratisation of the luxury : All classes middle and rich could buy versace products so its positionment lost value.
This is the main risk with labels : they have to stay in the wealthy market if not they put down.
posted by estelle at 11:14 AM
1 Comments:
Tell me more about what you mean by 'put down' in luxury. I know there are linking problems, so just put a notation where you found this article, please.
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