Multilingual Business Communication

November 1, 2008

Coco Chanel or Credit Crunch?

Filed under: marketing communication, Sander Laridon — Tags: , — meertaligebedrijfscommunicatie @ 11:41 am

Due to the financial crisis, the luxury bubble has burst and the luxury-goods industry faces a big challenge. In the opinion of Maureen Chiquet, Chanel’s global chief executive, people want to see beautiful and inspirational things, even in though times.

Ms Chiquet states that the exclusivity of the brand is one of Chanel’s biggest assets. In January 2007, she set herself two main tasks: to “upgrade” and to “modernise”. Concerning the first, she works to make Chanel’s brand even more exclusive and appealing to “ultra-wealthy” consumers by expanding Chanel’s Luxe collection of elite offerings. At the same time, Ms Chiquet aims to modernise the brand through renovating Chanel’s boutiques and choosing Keira Knightley as the face for the advertisements for Chanel’s new perfume. Ms Chiquet compared Chanel’s image with an apple: “beautiful underneath, but it needed to be dusted off a little bit”.

People may want to see beautiful and exclusive things, but the question is whether they will still buy them or not. If not, the pair of entwined “Cs” of Chanel’s logo could easily stand for “Credit Crunch” instead of the initials of Coco Chanel, the company’s founder.

For further information on Chanel’s current course, see http://www.economist.com/people/displayStory.cfm?source=hptextfeature&story_id=12509981 .

(Sander Laridon)

 

 

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1 Comment »

  1. You have chosen a good topic and have a pleasant writing style.

    Due to the financial crisis, the luxury bubble has burst and the luxury-goods industry faces a big challenge. In the opinion of Maureen Chiquet, Chanel’s global chief executive, people want to see beautiful and inspirational things, even in though times.

    Ms Chiquet states that the exclusivity of the brand is one of Chanel’s biggest assets. In January 2007, she set herself two main tasks: to “upgrade” and to “modernise”. Concerning the first, she works to make Chanel’s brand even more exclusive and appealing to “ultra-wealthy” consumers by expanding Chanel’s Luxe collection of elite offerings. At the same time, Ms Chiquet aims to modernise the brand through renovating Chanel’s boutiques and choosing Keira Knightley as the face for the advertisements for Chanel’s new perfume. Ms Chiquet compared Chanel’s image with an apple: “beautiful underneath, but it needed to be dusted off a little bit”.

    People may want to see beautiful and exclusive things, but the question is whether they will still buy them or not. If not, the pair of entwined “Cs” of Chanel’s logo could easily stand for “Credit Crunch” instead of the initials of Coco Chanel, the company’s founder.

    I like this last paragraph. It is very much tongue-in-cheek and shows a bit of personality

    Marilyn Michels

    Comment by meertaligebedrijfscommunicatie — November 16, 2008 @ 5:53 pm


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