Luxury’s New Model Is Goods Plus Experiences
Photo Credit: A guest boarding the Venice Simplon-Orient-Express. Luxury brands will step up their collaborations this year. Belmond
Skift Take
Luxury brands are gradually realizing the power of experiences and this is leading them to buy or partner with traditional travel and hospitality companies. Expect this trend to continue in 2019.
Luxury Travel News
The Skift New Luxury column is our weekly column focused on the business of selling luxury travel, the people and companies creating and selling experiences, emerging trends, and the changing consumer habits around the sector.
When LVMH, which owns brands ranging from Louis Vuitton to Moet Hennessy, acquired Belmond, it wasn't the first time a luxury fashion firm decided to get involved with hospitality. But it does represent something of a change in the way high-end retailers view fashion.
Before it might look good for a brand to occasionally partner with or buy a hotel, but now it is considered vital to have a bigger slice of the "experiences" market, as well as goods.
Earlier this year, we published a story on luxury car firms linking up with hotels, and that is j
