On the 18th of March a headline: “Prada Loses $864 Million in Value as China Slump Hits Profit” was published on Bloomberg.  For many it might seem as a mere piece of everyday financial news, but in fact it is a signal of changes in the luxury industry, in particular personal luxury goods, or fashion.  Fifteen, or even ten years ago the effects of shocks in spending habits of Asian customers could in no way be compared to what we see now. Although Europe still holds the leading position in terms of sales, it is the Chinese consumer that drives the positive growth trends in terms of sales. As can…

In the last months, since the unexpected appointment of Givenchy’s Riccardo Tisci as Burberry’s new Artistic Director, the latter often found itself in the media spotlight. Ironically, shortly after the international scandal revolving around the news that Burberry would rather burn unsold pieces than mark them down, all in hopes of not risking brand devaluation, the company received considerable backlash on the execution of not only the operational side but also the artistic one. Burberry, whose brand assets (hence, the infamous Burberry check) are among the most recognized in the fashion world, has found itself in a strange position of not having a clear and consistent brand identity and ending…