Kurt Geiger's strategy of offering affordable luxury during the cost of living crisis led to a 9.4% growth in revenues as consumers shifted preferences.
The company’s handbag sales rose dramatically after implementing a 5% price cut compared to three years ago, appealing to cost-conscious luxury shoppers.
CEO Neil Clifford highlights the effectiveness of focusing on lower price points amidst economic pressures, saying many fashion brands failed by raising prices.
Clifford emphasizes that with increased competition from alternative luxuries, accessible pricing for fashion items is crucial for attracting consumers.
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