Unlocking Word Meanings
Read the following words/expressions found in today’s article.
1. luxury (adj.) – something expensive but not necessarily important
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: Board
of 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.
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.
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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.
