Luxury brands can no longer ignore outdated supply chains. In the wake of the World Trade Organization’s director-general Ngozi Okonjo-Iweala's warning of continued supply chain bottlenecks, luxury brands have been increasing prices — a strategy that some would describe as ‘risky’.
It is, according to Robert Lockyer, founder of Delta Global — a luxury packaging supplier for brands including Tom Ford, Net-a-Porter and MATCHESFASHIO — "the final wakeup call” for the luxury fashion industry. “Brands that continue to rely on price increases, rather than supply chain monitoring and forecasting, are directing luxury consumers to their competitors.