According to Celine’s Chief Executive, Marco Gobbetti, Celine will have no live runway show for A/W 2012, due to their creative designer, Phoebe Philo, being pregnant with her third child.
After last year’s Dior – Jogn Galliano debacle, no chief designer at the end of the show has become a featured LVMH feature! However, it hasn’t proven dismal for Dior. Actually the past year hasn’t proven dismal for any major luxury player! According to CNN, thanks to China and Brazil, luxury companies have had a secure hold on the financial reigns. These markets have not yet been affected by the side-effects of the financial crisis: the social consciousness of spending.
Even though über wealthy individuals in the West were not heavily financially affected, their social consciousness made them hold back from spending ostentatiously, as it was deemed crass to flaunt your wealth through conspicuous consumption, while friends and/or colleagues were fighting to keep food on the table. The Eastern and South American wealthy, have yet to fall under such societal strains, as the wealth in these countries is relatively “nouveau”. No scrupples exist when spending green to flash and flaunt wealth.
Even Brazilian luxury brands are now ranging across the globe, cementing this market as a true luxury player.
So what’s the plan – move to Brazil? Sim, por favor. Eu adoraria que!
To read the full FT article on the LVMH runway debacle: FT article