Luxury Fashion for Men Becomes More Popular

Unlocking Word Meanings
Read the following words/expressions found in today’s article.

1. luxury (adj.) – something expensive but not necessarily important

Example: Buying luxury clothes on a tight budget is not wise.

2. board (n.) – a group of people who manages a business or organization

Example: Boardof directors makes the final decision on company issues.

3. nurturing (adj.) – able and willing to help others grow

Example: Mothers are nurturing by nature.

4. recession (n.) – a period in which economic activity, like buying and selling, is decreased

Example: Profits decrease during economic recession.

5. high-end (adj.) – (informal) expensive, top-quality

Example: Only rich families can afford high-end products.

Article
Read the text below.

It is a common belief that luxury fashion mostly targets women. But men are now becoming more interested in luxury fashion, says Antoine Arnault, son of one of Europe's richest men and board member of luxury group LVMH. According to consultancy firm Bain & Company, there was a 14% increase in global menswear spending in 2011. Many say this growing popularity of men’s luxury fashion has allowed the luxury industry to survive despite the European recession. For Arnault, this just shows that men today give importance to quality and craft. Arnault is CEO of Berluti, a brand under the LVMH group, which also manages brands like Louis Vuitton and Moet & Chandon. Berluti aims to be at the top end of the market, with its global and stylish clothing products. Its products are certainly high-end—Berluti shoes can take almost 20 hours for craftsmen in Italy to produce. Berluti products, Arnault says, are for unique men who travel often. He describes the “Berluti man” as a man of any nationality, who often flies to cities like New York and Paris. Additionally, Berluti receives financial support and advice from LVMH senior management. Arnault says this kind of nurturing environment will surely contribute to the promising future of the brand. As long as Berluti is part of the luxury group, Arnault predicts that the brand and other LVMH brands will continue to be successful even a hundred years from now.

Viewpoint Discussion
Enjoy a discussion with your tutor. 

Discussion A

·         Why do you think luxury fashion sells despite economic problems?

·         What are the possible reasons for men’s sudden interest in luxury fashion?

Discussion B

·         How can a company remain strong for years?

·         Does quality matters more than quantity for companies that sell products or services? Please explain further.  

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