L2′s founder predicted that technology giant Apple will be venturing into luxury categories in the near future to capitalize on enormous profit margins and its pristine brand image at the L2 Forum 2013.
During the “’7′: The Forces Shaping Prestige in 2014″ session, L2 Think Tank boss Scott Galloway pointed out that Apple’s acquisition of CEOs from Burberry and Saint Laurent indicates that the brand is forcefully moving toward the luxury sector. The founder also warned that luxury brands will begin to face increasing disruption from outsiders.
“Apple is about to crash the party,” Mr. Galloway said. “Why wouldn’t [Apple] migrate to [luxury]?
“The move gives consumers a chance to express their affinity for Apple with something other than [technology],” he said.
By Joe McCarthy
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