Watches, fragrances and apparel form the backbone of consumer luxury brands
Entertaining ambiguity about what luxury is, with various strategies to convince clientele of exclusivity and with intention to dominate luxury categories such as watches for some, companies make the theme difficult to define
Over time, some strategies have clearly been more successful than others
- The combination of a core business in mid-range watches with higher end licenses (Michael Kors, Armani, Coach/Tapestry) marked the turnaround of Fossil
- Richemont
has over many years abandoned initial interests in the tobacco business to focus on jewelry (Cartier, van Cleef & Arpels), watches (Jaeger-LeCoutre and others) and writing (Montblanc) - Kering
– after a venture in sports with Puma (bought in 2007 and spun-off in 2018) – announced a renewed focus on luxury goods - Hermès
and Prada never left the high-end, building a coveted brand name with single-minded attention to quality, control over distribution and reputation
LVMH
