MCM Embraces New Strategic Pathway with Tina Lutz and Katie Chung at the Helm - WWD
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MCM Sets Course for a New Era, Focusing on Digital Luxury and Heritage Revival
As Milan Fashion Week approaches, MCM, the renowned accessories brand, is poised to embark on a transformative journey. Sabine Brunner, President of MCM Global AG, recently unveiled the brand's new strategic direction and its emphasis on digital innovation.
Brunner's primary objective is to position MCM as a digitally-driven luxury brand, infused with refreshed heritage codes dating back to its inception in 1976. This entails an expansion into a comprehensive range of accessories, ready-to-wear, and lifestyle products. The aim is to captivate MCM's existing customer base while captivating Gen-Z and millennial consumers, whom Brunner dubs "digital nomads."
Rather than viewing it as a complete overhaul, Brunner characterizes the shift as a reevaluation of MCM's approach. The brand's owner and Chief Visionary Officer, Kim Sungjoo, possesses a keen sense of market changes and has guided MCM's success by catering to diverse streetwear and subculture trends. However, recognizing the evolving market landscape, the decision was made to reconnect with the brand's roots and heritage. This collaborative effort between Brunner and Kim began approximately seven months ago.
Brunner recognizes the shifting preferences of younger generations as a catalyst for MCM's growth. While previous generations may have gravitated towards established luxury houses like Hermès or Chanel, today's youth seek something distinct—a unique narrative and value proposition at a different price point. MCM aims to seize this opportunity by carving out a space in the mid-high range where they already thrive, asserting their position amidst the inflated pricing strategies of major luxury brands.
With this strategic transformation, MCM is poised to write a compelling new chapter in its illustrious history, appealing to the digitally-savvy consumers of today while rekindling its rich heritage for a brighter future.
