PDFSD
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We saw the miracle Mayhoola did with Balmain and Valentino.We saw the miracle Mayhoola did with Balmain and Valentino. It’s not bad for brands with a rather weak accessories business.
Prada is luxury good maison. Their job is to make bags. MiuMiu even if it’s a fashion house is run like a luxury goods maison. You see how they have a distinctive aesthetic for their bags and things like that.
Versace doesn’t have that kind of identity.
Vuitton is another thing. It’s not a fashion house. And plus, they have probably the most exclusive retail network out of all the main luxury brands.
Prada can have a million of outlets, produce products specifically for those stores, put logos on every product possible, sell basics with the MiuMiu logo on them, the cool status of the brand will never be altered.
Versace is already selling products on Zalando. They have still their embarrassing VJC license…They should reach for an elevation time.
The success of Prada now is too fragile for me to see them as a right long term partner for a house like Versace. When the MiuMiu hype will slow, they can also find themselves in the same situation as Michael Kors now where they have to focus on the main brands.
Miuccia will leave eventually so the succession issue will come with it set of challenges.
Mayhoola is the just Qatar. They have unlimited funds. They can make the
necessary sacrifices to push Versace to the next step.
If I was them, I would keep Valentino, Balmain, buy Versace and Jimmy Choo.
i agree its a miracle they did well , but its down to each house success not a group vision.
And it's exactly my point they tend to have a hands off approach because: Balmain is super tacky, great that it build its followers etc but a Balmain under LVMH would not look like this , i think being apart of a group is also that the group has a level of standard and overall vision for its brands.
Valentino was modern easy pretty luxury because of the two internal designers doing there thing not a vision of Mayhoola , far from what balmian is.
prada and miu miu regardless where they started you can't say they are not hardcore fashion houses with strong acc luxury history , LV has both much like prada , its not exclusively one thing or another as the brands are also received on different levels by buyer or general public.
RTW clients (often 1 procent and the 2 percent and 10 procents ) versus acc buyers often middle class etc buy and experience brand differently
i would even argue that Prada and LV are not even luxury goods , but luxury brands , meaning the are luxury by price /image not by: make & quality nor exclusivity or rarity.
the factory production look is even in design of the bags you see how its calculated how easy can they make this item with just enough bells and whistles to give it a allure of luxury.
not long ago prada had cool status problems let's not forget this no brand is immune from over exposure and image damage.
i do agree prada success now is fragile because they tend to be up up then crash again.
pumping money in a endless money pit is no rich investors game plan, if so Mayhoola would buy up more houses long ago, but instead they are teaming up with kering to have a foot in the door which is also smart game plan to buy or profit form all kering brands.
Mayhool blessing and curse is that the rich oil and natural resources makes the fashion project not a main goal, they have time and there for a chill approach to building a group or brand.