Digital retail has revolutionised the luxury market, pushing brands to rethink their growth strategies. But now more than ever the phenomenon of e-commerce is shaping the industry, radically changing its power dynamics. First of all, the internet has lowered the hurdles barring access to the market, allowing new brands, in particular accessory labels offering products such as footwear, watches and eyewear, to try their luck in the big leagues without incurring prohibitive costs. South Korean eyewear label Gentle Monster, for example, is a testament to this new accessibility, having skyrocketed to the status of a global brand in a relatively short period of time.
“Digital also brings the shortcomings of physical stores into focus, highlighting large discrepancies in price, for e…