双语：人手一个的奢侈品价值已不再尊贵

　　Mark Cohen, a professor of retail at the Columbia University Business School, ticks off the companies that have fallen into the ubiquity trap. Bill Blass "never met a licensee he didn't do a deal with," he says. Neiman Marcus "has opened stores in the last seven, eight years that they wish they could take back." Saks Fifth Avenue "took developer deals 25 years ago that gave them the immediate appearance of growth, which was false." Martha Stewart, Ralph Lauren, and Barney's haven't done themselves any favors either by going mass market either.DEk潍坊翻译公司-忠信乐译翻译有限公司

　　"It's the designer toilet seat problem," Cohen says. "The luxury business is entirely contingent on limited availability, limited supply, and limited exposure."DEk潍坊翻译公司-忠信乐译翻译有限公司

　　Coach is also at a disadvantage because it's not part of a large umbrella corporation that can compensate for slow growth in one of its portfolio companies with fast growth in another. A lot of the luxury marketplace falls into a few big spheres of influence: LVMH owns Hennessy, Louis Vuitton, Veuve Clicquot, Dom Perignon, Givenchy, Marc Jacobs, Fendi, Christian Dior, Belvedere, Thomas Pink, Donna Karan, Sephora, and many more. Richemont owns Montblanc, Cartier, Piaget, and Van Cleef & Arpels. Kering owns Gucci, Balenciaga, Alexander McQueen, Stella McCartney, etc. Because they're diversified, they can invest in new designers, much like a big record label can -- or could, in better days -- take chances on minor artists on the off chance they take off.DEk潍坊翻译公司-忠信乐译翻译有限公司

DEk潍坊翻译公司-忠信乐译翻译有限公司

　　(译者 YulisaLu 编辑 丹妮)DEk潍坊翻译公司-忠信乐译翻译有限公司

　　蔻驰要想重振旗鼓，华尔街就应该适当放手，效仿巴宝莉(Burberry)的做法，并意识到品牌的高贵形象与巨大的销量是不可兼得的。DEk潍坊翻译公司-忠信乐译翻译有限公司

　　Coach, the maker of luxury handbags and other sundry accessories, has been having a rough year. Poor sales prompted a leadership shuffle in July, and after a particularly bad earnings report Tuesday, the stock took its biggest dive in years. Which is odd, because the luxury market has been doing really well overall, fed by a global elite with assets that seem to have fully recovered from the recessionary dumps. So what's the problem?DEk潍坊翻译公司-忠信乐译翻译有限公司

　　"If you're a luxury brand with outlet stores, maybe you're not a luxury brand," mused Tim Hanson of Motley Fool Funds on a podcast Tuesday. "They took a growth-at-any-costs attitude that has done brand damage that they are paying for, but at the time that they were doing [it], it fielded stock price gains because it allowed them to put up very heady revenue numbers."DEk潍坊翻译公司-忠信乐译翻译有限公司

　　In recent years, big luxury retailers have found a way around the problem by pivoting to Asia, leveraging their iconic status in places like Japan and China to achieve huge sales without tarnishing their image at home. Coach hasn't had as much success there, perhaps because it doesn't have the same kind of world-wide super-appeal of a Prada or Gucci. Hermes and Tiffany's are typically seen as the gold standard in maintaining brand purity -- compensating for small sales volume with really, really high margins. Privately-held Godiva has managed to operate on two tracks, selling pricey chocolates both in convenience stores and its own, super-luxe retail spaces.DEk潍坊翻译公司-忠信乐译翻译有限公司

　　攻势猛烈的新兴品牌自然是挑战之一，如凯特·思蓓(Kate Spade)和迈克·科尔斯(Michael Kors)，这些品牌更得年轻消费者青睐。他们认为蔻驰是富有阿姨辈的专属，打个比方说，新兴品牌就像是纽约年轻时尚的教会区(Mission District)，而蔻驰则像是第五大道(5th Avenue)，更为奢侈古板。DEk潍坊翻译公司-忠信乐译翻译有限公司

DEk潍坊翻译公司-忠信乐译翻译有限公司

　　科恩说：“这关乎设计上的供求问题，奢侈品需要做到供不应求，要知道这个行业完全是依靠限量生产、限量供应和限量发行来运作的。”DEk潍坊翻译公司-忠信乐译翻译有限公司

　　Part of it is certainly hard-charging competition from newer brands, like Kate Spade and Michael Kors, that appeal to a younger audience. For them, Coach is their rich auntie's label, more 5th Avenue than Mission District.DEk潍坊翻译公司-忠信乐译翻译有限公司

　　哥伦比亚大学商学院[微博]零售学教授马克·科恩列举了几个陷入“普遍性陷阱”的公司实例。比如比尔·布拉斯(Bill Blass)，它从来不会拒绝任何一个授权方的交易请求；尼曼(Neiman Marcus)在过去的七八年间开了好几家分店，而现在他们却后悔了；萨克斯第五大道精品百货店(Saks Fifth Avenue)25年前接受了开发商的协议，并因此带来了繁荣的假象；玛莎·司徒沃特(Marsha Stewart)，拉尔夫·劳伦(Ralph Lauren)和巴尼斯纽约精品店(Barney's)此类品牌也未从扩大的市场中获得任何优势。DEk潍坊翻译公司-忠信乐译翻译有限公司

　　It's a problem all luxury brands face, especially public ones: How can you both sell enough on a quarterly basis to make Wall Street happy while at the same time maintaining the aura of exclusivity that got you where you were in the first place?DEk潍坊翻译公司-忠信乐译翻译有限公司

　　奢侈品顾问凯蒂·梅森卢兹称：“投资者从投入资金到收回成本大概需要5到7年的时间。”DEk潍坊翻译公司-忠信乐译翻译有限公司

　　蒂姆·汉森是美国著名投资论坛“彩衣傻瓜”(Motley Fool Funds)的全球收益顾问，本周二，他在自己的播客中沉思自问：“一个奢侈品牌如果有了工厂店，那还能叫奢侈品吗？为了追求利润而不择手段，品牌形象会受损，他们将自食恶果，但收益表上的数字确实让人飘飘然，也带动了股价增长。”DEk潍坊翻译公司-忠信乐译翻译有限公司

　　近年来，一些奢侈品零售巨头找到了两全其美的办法，即以亚洲为销售重心，利用自身“品牌效应”在中国、日本等国取得巨额销量，而丝毫不影响在国内的形象。但是蔻驰没有像普拉达(Prada)和古奇(Gucci)那样的国际产品知名度，所以并未在亚洲市场上取得多大的成功。爱马仕(Hermes)和蒂凡尼(Tiffany)则是业内严守产品高贵血统这一黄金准则的楷模，它们用高利润来填补销量的不足。私人企业歌蒂凡(Godiva)则采用了两种营销模式：将公司生产的昂贵巧克力同时在便利店和自己的奢侈专卖店中出售。DEk潍坊翻译公司-忠信乐译翻译有限公司

7月，因销量惨淡，蔻驰高层发生了变动，再加上本周二，蔻驰公布了令人失望的收益报告，双重打中恢复过来，并带动整个奢侈品消费市场走向繁荣之时，蔻驰糟糕的销售业绩实在令人觉得费解。那么，蔻驰究竟出了什么问题？DEk潍坊翻译公司-忠信乐译翻译有限公司

　　但更大的问题可能来自于产品初期的过速发展。投资者急于追求利润的增长，蔻驰因此不得不在过去的几年间不断扩大生产规模并增开几十家工厂直销店，这样做的确使其利润有了飞跃，但这时蔻驰已不再是原来的蔻驰。DEk潍坊翻译公司-忠信乐译翻译有限公司

　　"Between the moment they invest in them and the moment they will get their return will be five to seven years," says Ketty Maisonrouge, a luxury branding consultant. "If you look at most brands, what's successful today, they all try to understand what it is to make sure you don't grow too fast."