Monthly Archives: May 2013

A little thing i did for the day job…

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by Gwyneth Holland

European luxury shoppers are shifting to a value mindset, and global megabrands are getting left behind. Sales at top European luxury brands are down, as chic Parisians and Milanese can no longer afford to shop with them. At the same time, the much-beloved free-spending international shoppers (especially those from China, Russia and the Middle East) are no longer filling brands’ glittering flagships.

Over half of the 23 brands (such as Gucci, Hermès and Dior) recently surveyed by Reuters reported lower footfall from tourists (particularly Asian shoppers) in their European flagships. These stores have grown to rely on wealthy luxury travelers to stay afloat, but now the well-shod shopper is going elsewhere. Outlet stores are increasingly enticing those who love a label as well as those who love a deal.

After all, just because consumers have less cash to flash, it doesn’t mean they’re…

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