High art & craft
As the most successful brands in the world cater more than ever to society's uppermost echelons, Louis Vuitton's CEO explains a strategy of hyper-exclusivity and craftsmanship to drive astronomical sales. By May Yip
MICHAEL Burke may head one of the world's largest luxury brands, but he is as obsessed over the intricacies of an It bag as he is about sustaining the growth of a multi-million dollar fashion empire. The Louis Vuitton CEO, who was in town for the launch of the brand's fifth high jewellery collection, should, after all, be a leading connoisseur of nonpareil craftsmanship. How else would he be able to justify escalating price tags for products from the fashion behemoth?
"If it were easy to answer that question, many people would be successful in luxury," said Mr Burke, when asked for his definition of luxury. "The fact is, it is a very limited club, which means that there must be something more complex t…
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