Demand For Quiet Luxury Brands

The video discusses the concept of quiet luxury with Michael Berkowitz, CEO of Norwegian Wool. Michael shares his journey from a commodities trader to a fashion entrepreneur, focusing on merging comfort and luxury in outerwear. He emphasizes the importance of customer feedback in design and explains his unique marketing strategies, such as leveraging organic exposure at events like Davos. The discussion also covers maintaining brand identity while adapting to market trends and expanding into new markets, including women's wear and accessories. Supply chain challenges and growth strategies are also addressed.

What inspired Michael Berkowitz to start Norwegian Wool?

• A passion for Italian cashmere

• The need for warm and stylish outerwear

• A background in fashion design

• A desire for coats with flashy logos

How does Norwegian Wool decide on the features of their coats?

• By focusing solely on aesthetics

• By copying designs from competitors

• Through customer feedback and market research

• By following the latest fashion trends

What was a key strategy for Norwegian Wool in creating brand awareness?

• Advertising on social media platforms

• Focusing on organic exposure at events like Davos

• Collaborating with fast fashion brands

• Paying influencers to wear their coats

How does Norwegian Wool plan to maintain its brand identity over time?

• By expanding into unrelated markets

• By focusing only on men's wear

• By staying true to their mission while adapting to trends

• By frequently changing their mission

What new market did Norwegian Wool initially hesitate to enter?

• Home textiles

• Footwear

• Women's wear

• Children's wear

What challenge did Norwegian Wool face with fabric mills?

• High production costs

• Lack of quality materials

• Difficulty in gaining trust as a new company

• Competition from local brands

What is a new product line Norwegian Wool is exploring?

• Waterproof cashmere beanies

• Luxury footwear

• Designer handbags

• High-end watches