Luxury industry expert says Loewe considered moving production to China
15/01/2016
In recent comments to media in Spain, the Círculo Fortuny president, who is also the Marquis of Griñón and runs a famous wine company that bears his title, said that there was a time in the 1970s and 1980s when it became “fashionable” for luxury brands to take production offshore and that, until French-based luxury group LVMH acquired the brand in 1996, Loewe was considering following suit. Loewe’s products are still made in Spain.
“Why are some consumers willing to pay more than what might seem a reasonable price,” the marquis said. “It’s because, in some ways, they are buying history, culture and creativity. Brands are key, but if a secretary in China decides to spend seven times her salary on a luxury bag, she doesn’t want the bag to be made in a nearby village.”
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