Innovation?s the name of the game and experimentation is how it?s played.
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The nature of the luxury industry is changing, but not in the way you?d think. In a bizarre twist, luxury products are changing by staying the same. Take a look at the various products available on the market and you?d likely find that apart from slight differences in aesthetics and packaging, many brands are essentially pushing out the same things. In any business, if there is an existing market trend, it would be foolish to not capitalise on it if all your competitors are doing the same. However, for luxury brands, simply following along isn?t enough. Being at the top of their respective industries, these brands are expected to make the waves which others will ride on. To do so requires innovation. To innovate, requires the freedom for brands to experiment.
The word luxury is often associated with the use of rare and expensive materials, intricate designs, and impeccable quality. However, it’s more than just an aggregation of costly factors. At its core, the spirit of luxury revolves around exclusivity. Being able to have something of great quality, unique, and available only to a select few. This is why innovation is such a big part of the luxury industry as brands constantly try to stay ahead of the curve. Thankfully, these brands are able to fuel their creative endeavours. Given the expectation that luxury br...