Michael Kors, the us-based luxury brand, had previously admitted that Yang Mi’s role as the brand’s first global face had boosted sales of its range in China, sending Asian revenues soaring 42 per cent.
At present, the star effect has begun to take effect, some netizens revealed that a number of sets of the same Loewe Yang Mi wear tie-in has been sold out. In fact, Loewe has been aggressive in its endorsement strategy in recent years, and in addition to Yang Mi, the brand also announced actor Leo Wu as its spokesperson in May.
At the same time, to better communicate with young consumers, Loewe has also signed a new generation of Korean women nmixx, Korean men’s group NCT member Taeyong as brand ambassador, and custom-made for the former face close-up print dress. After years of building up momentum, Loewe’s leap lacked only one trigger.
So Loewe’s high-growth momentum is almost predictable, helped by Yang Mi, its spokesman. But it should be noted that the overall luxury mania has cooled, and Loewe, who has yet to hit the $1 billion threshold, is in the second tier of the most anxious competition.
Sales at LVMH, the world’s largest luxury goods group, rose just 1 percent year-on-year to 19.96 billion euros in the three months to September 30, according to the latest results from Loewe’s parent company, LVMH group, organic revenue growth in Loewe’s fashion and leather goods division plunged to 9 per cent from 21 per cent in the previous quarter to $9.75 bn, its worst performance in nearly two years.
In the face of a sudden increase in market pressure, Loewe only remain vigilant in order to achieve the accumulation of thin hair.
