Exactly. The most interesting lesson is that LVMH built scale without diluting what made each brand valuable. Growth becomes powerful when the system protects the distinctiveness that created demand in the first place.
Nike moved to direct sales on the same logic. In December 2024 its new CEO said it had leaned too heavily on direct-to-consumer, and that some wholesale partners felt abandoned. The catch seems to be whether your own channel can do the job the partner was doing before you take it back.
I've always found what LVMH, Kendo Brands, and Rihanna did with Fenty Beauty impressive. They found an ignored beauty market and led with diversity in their campaigns, yes, and Rihanna was already a powerhouse of a celebrity. But I don't think they would have hit the sales numbers they did if the distribution hadn't been reliable. The 40 shade range mattered because the products people wanted were actually in stock when they went looking. A launch that size lives or dies on whether the shelf can keep up with the demand the campaigns created.
Exactly. The most interesting lesson is that LVMH built scale without diluting what made each brand valuable. Growth becomes powerful when the system protects the distinctiveness that created demand in the first place.
Nike moved to direct sales on the same logic. In December 2024 its new CEO said it had leaned too heavily on direct-to-consumer, and that some wholesale partners felt abandoned. The catch seems to be whether your own channel can do the job the partner was doing before you take it back.
The idea of owning a category rather than competing within one is fascinating.
I've always found what LVMH, Kendo Brands, and Rihanna did with Fenty Beauty impressive. They found an ignored beauty market and led with diversity in their campaigns, yes, and Rihanna was already a powerhouse of a celebrity. But I don't think they would have hit the sales numbers they did if the distribution hadn't been reliable. The 40 shade range mattered because the products people wanted were actually in stock when they went looking. A launch that size lives or dies on whether the shelf can keep up with the demand the campaigns created.