The
article looks at branding and marketing in the luxury goods industry,
focusing on the trend of consumers becoming less interested in
conspicuous symbols of wealth and luxury. It says this trend began in
Europe
and the U.S. and has spread elsewhere, including China. It discusses
luxury-goods firms which have modified their products or packaging in
order to downplay their luxury status, citing examples including liquor
company Patrón reducing the amount of gilding
on its tequila bottles. It also discusses the strategy of reorienting a
product’s branding around factors other than luxury, such as utility or
artisanship. Firms discussed include leather goods company Bottega
Veneta, fashion house Louis Vuitton, automobile
company Daimler, and hotel and resort company Jumeirah.