French luxury between heritage and innovation

When you think luxury, you think France, Coco Channel and her heritage, you think made in, elegance, Champs-Elysées and Place Vendôme. By defintion luxury is the « character of what is expensive, refined, sumptuous » A universe of desire, pleasure, identification, emotion and serenity. France is the leader of luxury products and services, French brands, French luxury products make people dream, they come from all around the world for French brands.
To personify luxury you think about Catherine Deneuve, people imagine luxury when they think about her, she represents us, she is out of time, out of fashion.
When you think luxury, you think colors, red is one of the most represented color in luxury, formerly it was obtained from purple, a shell very rare and therefore expensive. This is why red is the best-selling color for sports cars, why famous French hotels choose this colors to represent them.
The French luxury market has an excellent image abroad. thanks to many famous houses, often centenarians and renowned for their know-how, the quality of their products but also for their ability to innovate and to persist through the decades, like Hermes, Chanel or Cartier. Since then, the Made in France is an essential element in the design of a luxury product.
In the midst of luxury jewelry, stones make all the beauty of a jewel. Gold is certainly one of the most expensive materials in the world, but jewelry with precious stones give a rare and unique side. For example Le Hope (or Le Bleu de France) (200 million $) The largest blue diamond ever discovered today, it is the second most visited art object in the world (at the National Museum of Natural History in Washington) behind the Mona Lisa. Sales of perfumes have been falling since 2015, in the « selective », it’s the lipsticks (70 million €) and the face’s powders that help to increase its market share. Some perfums keep their place in the market for example : Lancôme (La vie est belle), Dior (J’adore), Guerlain (La Petite Robe Noire), mainly luxury brand products but perfumes market had only increase 0,2% of sales last year.
People are coming in Paris for our French « Art de vivre », where parisian people live ? Rive gauche or Rive droite. In which kind of appartement Parisian people live ? Haussmannien or design one. It’s a way of living, an attitude. That is why they like our palaces, and luxury hotels, they want excellent services, and to be out of time. That’s why they are going to Shangri-la or Peninsula Palace for example. Or why they are going to Courchevel, it’s the most expensive ski resort in Europe, all the greatest chefs open restaurants there. They count 16 five stars hotels and 2 palaces. This is what means luxury for a lot of people.    France is always one of the best in every sector, and for sure in gastronomy and wine. France is the second world producer of caviar after Italy, what about wine and spirit (world market represents 66 billion € in 2016), French exportation is around 11,9 billion €. The fact is for Champagne brands, they are good in marketing and communication, packaging and cobranding. It allows them to sell a lot of products even if the Champagne is not the most expensive of all the luxury products.
France Luxury is not well represented in some areas, particularly in luxury car industry. There are no luxury brands car, Citroen, Peugeot or Renault are important brands, some of their cars could have the chance to be considered as « luxury cars » but there are too many differences between French cars and luxury German ones.

By Saad Izirri – Julie Arthuys – Tiffany Bérard

#mbaluxe #DecodingLuxury #61Charron

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