How Brands Are Making Body Care Cool
WHAT YOU NEED TO KNOW TODAY: TUESDAY, DECEMBER 17, 2024 | | | Dear BoF Community, Today, BoF's Executive Members are getting first access to an in-depth memo examining the most recent data, commentary and analysis on the hotly-watched, fast-moving topic of luxury pricing, a key focus for decision makers across the industry. Luxury has a pricing problem: The cost of like-for-like products and new designs alike has soared since the pandemic, growing at twice the rate of cumulative inflation overall. The prices of some iconic items roughly doubled, while perception of exclusivity and quality declined. Brands need a differentiated approach to rebalancing luxury's value equation through a mix of more accessible pricing and reinforced craftsmanship and creativity in order to reignite demand. In this memo to BoF's Executive Members by luxury editor Robert Williams, you'll learn about: The latest data on how luxury prices evolved in 2024 and how higher prices are impacting luxury demand The most recent insights on pricing by luxury CEOs, CFOs and analysts How Gucci, Burberry and Prada are adapting their pricing strategies
Download the memo now. "Luxury Has a Pricing Problem. What Now?" Executive Memos examine pivotal industry issues to support strategy and decision-making. Become an Executive Member now. Imran Amed, Founder and CEO Plus, also in today's BoF Daily Digest newsletter: |
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| Copenhagen International Fashion Fair Launches CIFF Media to Support Independent Brands | Brand marketing emerged as a key priority for the fashion industry in 2024, with 71 percent of executives planning to increase brand marketing spend according to the BoF-McKinsey State of Fashion 2024 report. With this in mind, the bi-annual Copenhagen International Fashion Fair (CIFF) — one of Europe's longest-running and most established trade shows — has broadened its support for independent brands and their marketing activities through its newly launched CIFF Media. The programme will provide fashion labels exhibiting at CIFF with a means of amplifying and communicating their brand identity to retailers outside of their stands and lookbooks. From an in-house TV and podcast studio to social media activations and support from communications specialists, brands with limited marketing budgets will have the opportunity to deep-dive into their brand messaging. "It's about offering these designers a platform to meet the right people, but also to offer an environment where they form new bonds and a sense of community with other brands," says the trade show's director, Sofie Dolva, who unpacks the purpose and strategy for CIFF Media for BoF. | | |
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