Solange Azagury-Partridge

Two interesting announcements this morning, both of which are worth examining: First Labelux announces instead of embracing (and chasing) hard luxury, it is exiting the segment to focus entirely on leathergoods; then Mulberry rejects the outlet model to take its bags and other products further up-market. The moves are complementary, in the context of general industry strategy. They both indicate that in the highly competitive world of leathergoods, current theory says it’s the most special, elaborate, highly worked pieces that sell.
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Labelux, the German conglomerate founded in 2007 by Joh A. Benckiser SA, the holding company of the reclusive Reimann family, to “be a significant new global player in the luxury goods market; one which could benefit from the underlying trends which support the long-term growth of the luxury industry” (this according to their web site), has never really gotten out of the outfield — to borrow some metaphors from the Romney campaign. Though they snapped up some big names, including Jimmy Choo, Bally, Derek Lam, Belstaff, Zagliani and Solange Azagury-Partridge, their point of difference was never clear, nor their vision for the Group as a whole, never mind the individual parts. Yesterday, however, things started to change. Read more