What do you do if you are a fashion house possessed of the most coveted open designer job in the business, the subject of manic rumors and speculation, with the world watching every move you make for a hint of announcements to come?
If you are Chanel, you hold the first mega-show of a European luxury brand in Hangzhou, China, invite about 1,100 guests, including Tilda Swinton, Lupita Nyong’o, Liu Wen and about 600 local V.I.C.s — very important clients — and get on with business as usual.
Meaning, in this case, you offer a bit of glamorous outreach to a customer segment that, after years of explosive growth, has been very publicly slowing down, sending the fortunes of many global fashion brands dropping. Chanel, the second largest luxury brand in the world, with 2023 revenues of almost $20 billion, has not been immune.
And if the V.I.C.s — which is to say, clients who spend at least $20,000, and possibly up to $500,000, a year with the company — won’t go to the brand, the brand will go to them.
“To come to China after Covid was one of our top priorities,” said Bruno Pavlovsky, Chanel’s president for fashion. “We started seriously to plan it nine months ago. It’s the right time to focus on our Chinese customers.”
After all, he acknowledged: “At the moment, we have less customers in our boutiques. We have less what they call one-timers. But we are still very powerful and very successful with our V.I.C.s. And what we are doing here is trying to create a unique experience and a bond.”
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