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Gucci: In the business of selling 'dreams'

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As many look to cut costs to cope with the worsening economic downturn, you would expect consumer spending patterns to be adversely affected, with the luxury goods segment being one of the hardest hit.

Not so according to Robert Polet, chairman of the Gucci Group. While he agrees that consumer psyche vis-à-vis buying behaviour has taken a hit, he believes that his company is in the business of selling dreams – and you can’t put a price tag on a dream.

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en

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text/html

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http://knowledge.insead.edu/GucciDreams081019.cfm?vid=104

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Copyright INSEAD. All rights reserved