00:00:00
Is there an element of how much the
00:00:02
luxury company is producing
00:00:05
designed to
00:00:07
counteract
00:00:09
the levels that the knockoffs are
00:00:12
producing? You know to the more you
00:00:14
produce of the better product, the more
00:00:16
people may stay away from the knockoffs.
00:00:18
There has always been a race and there
00:00:20
right. So if you're the luxury brand
00:00:22
company obviously that you want to stay
00:00:24
ahead of the game and stay ahead of the
00:00:25
curve, you want to produce more,
00:00:27
innovate more and uh so that uh you
00:00:30
basically keep the your distance between
00:00:32
uh you and the counterfeitters. That's
00:00:35
always a good strategy.
00:00:36
>> How much then does the brand still carry
00:00:40
a lot of the weight in this decision
00:00:42
process? When you think about some of
00:00:44
the names out there, Hermes, Versace,
00:00:47
etc. those brands you have an
00:00:49
expectation of of a higher end higher
00:00:53
quality product and that brand draws the
00:00:56
attention of the consumer.
00:00:58
>> Well, obviously those brands uh carry a
00:01:01
lot of weight and they sell a lot of
00:01:02
goods and they still command the loyalty
00:01:05
of a lot of customers. For Hermats for
00:01:07
instance, you could wait for a couple
00:01:09
years and before you can buy anything
00:01:11
that even if you have the money and not
00:01:13
only that in fact that uh nowadays that
00:01:16
they look at your total purchases and
00:01:18
before they actually let you buy some of
00:01:20
the new products.
00:01:22
>> What does then this all mean for retail
00:01:24
in general having this to a degree I
00:01:27
guess it's a change of mindset by the
00:01:29
luxury brands of being able to produce
00:01:31
more to be able to fit into the
00:01:33
marketplace. Well, I think the luxury
00:01:36
brands are constantly innovative. uh
00:01:38
they want to come up with newer products
00:01:41
and better products and of course they
00:01:43
also retain some of the classic uh ones
00:01:46
and uh I think in that particular game
00:01:48
obviously that uh the luxury brands and
00:01:51
uh and we'll always win and the reason
00:01:53
is because uh in this society just
00:01:56
imagine that without luxury brands the
00:01:58
life would be very very and uh I guess
00:02:02
uh what what would be the word I'm
00:02:04
looking for would be very uh boring
00:02:07
>> boring awfully boring and also
00:02:09
colorless.
00:02:10
>> Thank you for listening to the ripple
00:02:12
effect. We hope you found this episode
00:02:14
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00:02:18
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