Luxury brands are opening restaurants to reach Gen Z and Millennials. Luxury brands are eager to attract a young and trendy consumer base, and they’re entering the restaurant business to experience-ify their brands. Louis Vuitton is creating exclusive dining experiences that cost less than some of their hand bags. Gucci opened their Gucci Osteria restaurant in Seoul, headlined by a three-star Michelin chef, and even features classic menu items like burgers ($19 USD). After opening reservations, the place sold out within four minutes. Luxury brands have been branching out into new territories (especially in the metaverse), making them more accessible to young consumers. YPulse’s Luxury report data shows that 22% of Gen Z and Millennials say they are interested in purchasing luxury food products. (SCMP)
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