Why luxury brands are eyeing mass-market leaders – Consulus comments on Ralph Lauren’s Succession Plan

Oct 13, 2015 | News & Updates, Press

Former global president of Old Navy Stefan Larsson (pictured left) has recently been appointed to succeed American designer Ralph Lauren (pictured right) as chief executive officer of the former’s titular fashion empire.

In comments to Marketing Magazine on Ralph Lauren’s Succession Plan, Lawrence Chong, CEO of Consulus sees the appointment as part of an emerging hiring trend.

Chong thinks the talent love between mass-market and luxury cuts both ways: “When Angela Ahrendts left Burberry to join Apple as retail head, it was a major nod to the trend that making luxury accessible is the way forward. This means reaching out early to the rising group of High Earners.”

But this is a tough balance to strike. How does a luxury brand prevent losing its premium feel and image while becoming widely accessible?

“It is more like introducing premium economy class on an airline and getting people to watch through the business class experience so as to induce one to upgrade. It is a tried and tested model and it works,” Chong explained.

Through such mass-market poaching, luxury brands can hope to achieve a more sustainable revenue pipeline in an increasingly complex market. It is all about hiring the right people with experience in serving the wealthy middle class who are moving towards the high net worth category and how to appeal to this group, Chong said.

Read the full article on Marketing Magazine here.

Related articles:
Why Succession Plans Rarely Succeed
Designed to Last – Organisational Longevity

Shape the World Summit 2022: Future Resilience by Design

Shape the World Summit 2022: Future Resilience by Design

Over 150 leaders from business, non-profits and social enterprises from 12 countries convened in person at The Swissotel, The Stamford for Shape the World Summit 2022 on 21st June to share personal experiences and ideas on how to shape a resilient future.

Consulus Elects First Chairwoman: Helena Pham

Consulus Elects First Chairwoman: Helena Pham

This week, during the 5th Annual Consulus Global School, conducted in a hybrid format with Consulites in attendance from 12 countries, Ms Helena Pham was elected as the Global Chairwoman for 2022 to 2023.

Free sample Smart 4.0 Vietnam

Complete the form below to download the sample report

Consulus Vietnam

You have Successfully Subscribed!