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Expert comment: The death of Karl Lagerfeld, what is Chanel's future?

Professor Qing Wang, an expert in luxury brands from Warwick Business School comments on the death of fashion designer Karl Lagerfeld:Professor Qing Wang

"As someone who works and researches the luxury sector, I am saddened by the news of his passing. He is an iconic figure in the luxury and fashion sector and changed the way women dress.

This story is particularly relevant for businesses as it raises the issue about succession planning in the luxury businesses. Luxury houses are traditional family owned and in many cases are founded and/or created by creative talents who become the soul and icon of a brand and infuse a brand with their own persona and style which are enduring and hard to replace.

This is a particular problem for Chanel due to Karl Lagerfeld’s work ethic and longevity as the creative designer for decades. His passing comes in a critical time for Chanel as luxury brands are at a crossroad facing challenges ranging from engaging the millennial generation to fencing off new comers from industries outside the sector such as sports wear brands like Nike and technology brands like Apple.

It is hard to know what route Chanel will take in post Lagerfeld era, and whether the DNA of Chanel will stay intact, but one thing is certain: the continuity and consistency provided by him is now over."

ENDS

19 FEBRUARY 2019

Image available at: https://warwick.ac.uk/services/communications/medialibrary/images/february2019/qing.jpg

FOR FURTHER INFORMATION PLEASE CONTACT:

Alice Scott
Media Relations Manager - Science, University of Warwick
Tel:02476574255 or 07920531221
E-mail: alice.j.scott@warwick.ac.uk

FOR FURTHER INFORMATION PLEASE CONTACT:

Alice Scott 
Media Relations Manager - Science, University of Warwick 
Tel:02476574255 or 07920531221
E-mail: alice dot j dot scott at warwick dot ac dot uk