Americans and Europeans have lost the ‘luxury’ habit - not so in Asia

Since the 50-plus are (were) big purchasers of luxury goods this is of interest.

Gucci Group, the luxury-goods company has announced that acquisitions are part of its long-term strategy and will focus on Asian expansion for a “long time to come”.

Gucci’s head honcho said : “The U.S. and Europe “is where we have seen the biggest change in consumer behaviour, eighteen months ago, people were happy and wanting to have products that showed more the brand name and logos, let’s say, slightly more ostentatious.” Not so now.

Apparently it is only a rumour that Gucci is launching its own designer version of sack cloth and ashes. Dick Stroud