However, with a Bain and Company study revealing that 10m customers will be joining the segment every year, reaching 400m by 2020, can luxury stores afford to maintain such an image?
In her 2001 autobiography ‘Learning to Fly’, Victoria Beckham famously states that she wants “to be as famous as Persil Automatic”.
Yesterday she came closer to becoming a household name by changing the face of traditional luxury stores.
She has opened her first ever store, located in Mayfair.
Of course, the Victoria Beckham global business is worth millions, with exclusive items reaching high-priced heights but she has put an emphasis on “tapping into all aspects of the consumer market” by making sure there are affordable options as well.
Beckham acknowledged the fact that customers often feel reluctant to walk into high-end stores. So she hand-picked her own staff with a strict “no snotty behaviour allowed” pep-talk.
“It’s my way of saying thank you – and not just to fashion people but to the public who have come on this journey with me,” Beckham explains.
There is currently talk about creating a chain of stores.
Share this story