goingplacesmagazine.com | 35 | November 2019
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With the affluent travel lifestyle of modern millennials, the demand for better quality and lifestyle accessories is on the rise. We anticipate the market will expand and we are more than ready to embrace the trend.
Because of our exposure in different categories locally and abroad, this has opened up our advantage to strike a balance between Asian and Western design influences. Some of the brands such as Charles Berkeley are now in the Italian market and Lushberry in Japan, Taiwan, Dubai, U.K. and U.S. This gives us a footprint in the international arena and at the same time, (makes us) very competitive. How does the company keep up with changing consumer demand?
Our forward vision allows us to constantly innovate, explore and come out of our comfort zone. We cannot wait for the market to change first before us. In fact, we would like to constantly introduce the latest and be the first in our industry. Yes, there will always be risks by chartering into untamed waters, but if you never try, you'll never gain. Are online luggage and travel accessory retailers a threat? Is there a preference for consumers to purchase online these days
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compared to brick and mortar stores?
Yes, we cannot ignore that the online business is a threat, but we think that both online and offline stores will eventually coexist and will not cannibalise each other. In some cases, it is already happening. Many think that the cost for selling online is relatively cheaper, but on the contrary, you need a lot of back-up in terms of photography and support in order to upload the product information. Moreover, in the luggage sector, the logistics cost is quite costly. In terms of customer behaviour, online provides more convenience, but brick and mortar provides the shopping experience for the five senses, in which you can see, feel, smell, taste and touch, which is unattainable with a flat screen. What about counterfeit bags? What has been the impact from black market sales on Leather Avenue’s business and revenue? How has the company overcome this challenge?
I admit this is an ongoing battle for many companies. Counterfeits always have their grey
areas and are costly if you pursue legal action against all of them. From a practical sense, most copies would never achieve the same level of quality anyway compared to an original. We would look at it on a case-by-case basis. Having said this, customers today are smart enough to differentiate between these products. Most of the fakes we have seen in the market are ‘cheap’ copies and we believe our genuine customers would not buy them. What trends are you seeing for luggage sales next year, and how does Leather Avenue plan to ride on the trend?
The growth of the travel industry, particularly in the next decade in Asia, dominates almost 50 percent. There will definitely be high demand for travel accessories. You will notice there are now many luxury brands that have ventured into this category. With the affluent travel lifestyle of modern millennials, the demand for better quality and lifestyle accessories is on the rise. We anticipate the market will expand and we are more than ready to embrace the trend. ■
17/10/2019 1:01 PM