Gucci’s profit had declined because you can not be everyone’s luxury brand. So why is the brand taking a fast fashion approach to solve its decline in sales?
By Yvette E
Never have I seen a brand call itself luxury then oversale itself. The whole point of luxury is a mindless marketing plot to sell exclusivity and exclusion.
If a brand goes this route, profit for profit sake can not be the mantra but somehow Gucci finds itself between a rock and a hard place. The rock being profits and the hard place being the brand’s identity.
However, instead of focusing on creating a brand identity to attract the right customer, newly appointed creative director, Alessandro Michele decided to create a fields of dream, if you make it they will buy according to BoF.
The onus of Gucci to continue to drive newness so consumers can turn thier heads and say “Wow, this is something I don’t have, I want to buy it”Solca, BoF contributor
Hopefully, that is just opinion because right now the House of Gucci is falling like a house of cards. What the brand needs now is not fast fashion tactics of overproduction but a definition of thier core customer and some core values.
These ideals are more important to Gen Z now more than newness. Millenials are now looking to invest in thier futures and thier childrens and so are curving spending habits.
The question now is Who is Gucci?