Walter Ricciotti, CEO and co-founder of Quadrivio Group.
Luxury has dramatically changed in the last few years, becoming far more liquid and diffused than it used to be. COVID-19 accelerated this change even further.
The Boomer Generation used to consider high-priced brands, from automotive to fashion, from watches to yachts, as luxury—as statements to show-off their status.
Today, the luxury label itself doesn’t even have a lot of sense to me anymore. People are dressing up with Cuccinelli sweaters and Zara T-shirts, what is that? Is that luxury? I’m not sure.
Consumer behavior is changing and brands’ strategy evolving alongside it.
It’s a circle.
People look for brands and products to express their identity, yet in a different and more personal fashion than they used to.