Profile
aviation companies, Lorre appears regularly on American TV, giving insight into the very best products available from perfume to private jets. Over in the UK however, we can struggle to find direct access to the real luxury market through our TV sets or online blogs. Maybe it’s the recession, but most small screen shopping guides focus on saving every penny rather than showcasing absolute luxury. But White insists that even in this time of economical unrest, the luxury market continues to boom, as her followers gravitate around more online formats in favour of the regional limitations posed by television. “Tere are two types of Luxury Consumers: Te aspirational and the UHNW [ultra- high-net-worth], or as I call them, ‘the already arrived’. Te fashion industry depends on the first category for up to 80% of their sales. Tis is why the fashion industry was hit so much harder in the global recession than the private jet companies which have exclusively clients and so they are not as affected by the slowdown in the economy. Te truly rich can lose half of their net worth and still be rich. If you’re worth a billion and you lose half of it, you’re still not skipping any meals or pulling your kids out of school to help support the family.” Once money is taken out of the equation, the
real luxury to the UHNW individual is their precious time. As any successful business figure would agree, a hectic work schedule can mean there simply is no time to keep up to date and Lorre’s TV work alongside her regularly updated website (
www.LuxGuru.Typepad.com) allow her cash rich/time poor followers to easily access the world of ultimate luxury.
Although her insightful media ventures can guide the new money ultra rich in to how to spend their fortune, her work with some of the world’s top brands has helped them maintain their quality instead of creating more affordable products to appeal to the top end of the mass market. “In the luxury world, you will never be higher
on the scale than when you launch. It takes much more money up front to reach this group. It is not like a mass market where you can tweak things and improve them along the way. You cannot launch mid level and put more money into it later when the business gets rolling and climb into a luxury status.” One example which Lorre reflects upon is that of American leather goods artisans, Coach, and their desire to tap into the same market as iconic French fashion house, Louis Vuitton. After investing in a select design team and a whole new production line, Coach, which was previously known for selling quality women’s purses for around $200, attempted to create a luxury range with a $3,000 price tag. Needless to say, the venture failed, as White says, “For someone skilled in luxury marketing, the reason is obvious. What woman is going to spend $3,000 on a purse that when anyone looks at it, they see a $200 purse because of the brand’s image? Coach sells frequently in outlet stores, so their products are often available at sale prices. You will not find any sale on LV purses. True luxury brands, managed by skilled class marketers, know that you never put your products on sale.” Adamantly sticking to her marketing
strategies, Lorre is a proud believer that in true elite luxury branding, it is more important to have a Chief Marketing Office rather than a Chief Financial Officer.
Interestingly, in perfecting a brand, she sees the importance of the right marketing psychology, “Many self proclaimed luxury sites give hotel, travel and product recommendations, but the person doing the evaluation does not understand the higher expectations of this group. Unless they have been trained, they are probably bringing their aspirational perspective to the evaluation. What may seem incredible to them may be a disappointment to a group that is accustomed to more.” Certainly it is the person making the
recommendations who really is paramount when guiding sales and Lorre White has not only found real luxury, but has also harnessed the knowledge of how to maintain it. With such an unequalled reputation, as her esteemed UHNW clients will know, when shopping for real luxury, if you haven’t heard of Lorre White, then you’re just browsing.
For more information on Lorre White or to receive regular updates from across the luxury world, visit
www.LuxGuru.Typepad.com
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