The Evergreen Luxury Trend....
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It’s called Frec Direct Indexing.
Last night I had some founders, investors/friends (60 people) over to the Madison Avenue Watchbox boutique to discuss the business of luxury brand building, acquisitions, e-commerce, retail, margins, pricing, community and most importantly …the customer.
I sat with Justin Reis the founder who has been building Watchbox (now The 1916 Company) who is methodically executing on all of the above since 2017.
The luxury world is fascinating to me. I do not think luxury means the ‘best’ or the highest price or the most scarce.
I believe luxury is just a state of mind and a function of the experience… which makes it an evergreen trend.
A favorite bear market/business building quote of mine is from legendary driver Ayrton Senna who said:
‘You cannot overtake 15 cars in sunny weather…but you can when it’s raining’
While e-commerce remains in a massive upward secular trend, the sins of the bubble and zirp capital have ecommerce and marketplace venture capitalists in retreat.
That is the opportunity.