BY Capgemini
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Why digital technology is breaking the luxury sector's rulesd

4 Nov, 2016 02:19 pm

In a global luxury market that is stagnating, brands are looking to digital technology to help catalyse growth. This digital technology, however, is shaking up rules within these institutions, which in some cases date back hundreds of years.

- Major luxury brands need to focus on their modes of communication and their distribution policies. Burberry is a fine example. In the space of 10 years, the London-based fashion house, which had become almost obsolete as a brand, has become a recognised brand once again thanks to digital technology. So as not to tarnish their image, brands are treading carefully, focusing on the quality of the customer's experience as well as their brand's prestige - obviously - private sales and high-end services.   

- Digital technology is changing the way products are developed. 3D printing is being used to make tailor-made jewellery, personalised sunglasses and custom-made fashion accessories. As for fabrics, they are becoming "connected". Ralph Lauren's connected polo shirt measures its wearer's physical activity (heart rate, body temperature, number of footsteps, number of calories burnt etc.). Furthermore, use of the blockchain can also help in the fight against counterfeiting.    
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