Hello-Hello, what a gorgeous day it is here in The Great Midwest!
Heavy volunteer activities mean we must soon grab our broom pop into the PrincessMobile and fly to an appointment, so we’ll be mercifully brief today.
With news that the University of Monaco if offering a Masters degree in luxury, how could we not ponder the possibilities…? After all, the program is only ten months in durations, and is even taught in English.
Here are the Selection Criteria:
- Undergraduate degree required
- Must have had a prior internship in a luxury setting
- Academic performance assessed
- Candidates should be highly passionate about at least one luxury sector
- Ability and willingness to work in a diverse, international environment
What do you think? After we finish painting the planet pink, wouldn’t it be fun?
“LUXURY goods may sell the dream of mixing it with the rich and famous, but the bigger the branding the more you identify yourself as a “cashed-up bogan”.
And in a case of less is more expensive, luxury goods manufacturers have been charging a premium for the more discreetly-branded goods of similar quality, according to a US study into brand status.”
The point is explained with this photo:
“The Gucci bag on the left, costing $US1150, was rated 1/7 for brand loudness and would be preferred by “elite” consumers, according to a Journal of Marketing study. The bag on the right, costing $US640, was rated 7/7 for brand loudness and would be preferred by “cashed-up bogans”.
We were intrigued to read about the four kinds of consumers listed in the study.
- Patricians: “Wealthy consumers low in need for status” who “pay a premium for… products that only their fellow patricians can recognise”;
- Parvenus: “Wealthy consumers high in need for status” who “use loud luxury goods to signal to the less affluent that they are not one of them”;
- Poseurs: Poorer consumers who can’t afford luxury goods and seek counterfeit items to “emulate those who they recognise to be wealthy”; and
- Proletarians: Poor consumers who are not concerned with status
Megan has a question about the Taffeta Seine vest:
“… do you really think people would pay 650 dollars for a vest that resembles wet toilet paper? And what’s even more scary is that this vest is SOLD OUT!!! Seriously, who bought this?”
The sale offered very healthy markdowns (for example, the $398 Tenley shift at $99, the $228 Lee Cashmere Cardigan at $89), but the heavy traffic from Lilly’s Facebook fans made for some very…. slow….. shopping.
Lilly kept shoppers who are fans advised of things via Facebook; for those who are not fans presumably the site’s error message sufficed. More examples of the stellar Sales and Savings opportunities: the Eliot Shirt (originally $98, now $49), and on the right the Jonnie shirt (was $98, now $49).
Clearly underestimating the response to the sale, the company responded as quickly as they could, working with their technical people and adding more phone reps. Hopefully by the time you read this, everything will be back to normal online.
A final note, this one on three upcoming collaborations Le Boutique Targét is launching Friday. All three are debuting online at Gilt.com before they hit Target stores or the retailer’s website.
For those not familiar with Gilt, it is one of those ubiquitous ‘members-only’ discount sites. The lines slated to launch include: John Derian for Target, Tucker for Target by Gaby Basora (more on that here), and Mulberry for Target (more on this here).
From the Gilt website:
“Pick up a lushly colorful dress by Tucker, the acclaimed label from Gaby Basora, a designer who has been crafting her artful prints since 2005. Then add a kicky cross-body bag by Mulberry, a British heritage brand that’s known worldwide for its craftsmanship and classic silhouettes. And bring it all home with the witty, nature-inspired statement housewares by John Derian, New York’s master of decoupage.”
Racked.com has more on the pros and cons of Target’s method for introducing the partnerships.
The preview sales begin at noon (EDT) Friday; if in need of an invitation to the Gilt shopping site, just click here.
With that, g’bye until next time!