“The luxury industry, for the first time in the past 10 years, had to face challenges that were not there before,” Patrizio di Marco, CEO of Gucci said recently in an interview with Bloomberg Television. Amid a tougher economic climate, consumers are looking for greater “insurance” when making purchases, he said.
“There was a time when luxury was very much about logo, a label, a name and that was more than enough,” di Marco said. “Now you have to be a company with integrity, values, values and integrity that have to be conveyed to the customer and to be felt so that you can actually engage with them and build a long-lasting relationship. This is basically the today and tomorrow challenge of the industry.”
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