Luxury and dependency: when luxury brands cultivate their most valued clients
In the world of contemporary luxury , there is a truth that brands rarely want to acknowledge publicly. A disproportionate portion of their revenue comes from a very limited number of clients. These clients are the VICs , for Very Important Clients , sometimes called top spenders or strategic clients .
They buy several times a year, pay full price, travel for fashion shows, reserve a piece of fine jewelry without having tried it on, and, through their lifestyle, become the brand's best ambassadors. This clientele is precious, but also demanding. And dependence on them is becoming a concern for luxury brands .
Who are the real VIPs of international luxury?
The VIC are no longer just old European families who bought a set of jewelry every generation. For the past twenty years, the rise of fortunes in Asia , the Middle East and Latin America has created a new consumer elite.
Tech entrepreneurs, Gulf heirs, Chinese businesswomen, art or watch collectors—they all have one thing in common: they seek a personalized relationship with the brand. Not just a bag. Recognition. That's why major brands have structured VIP teams, private lounges, and exclusive clienteling apps. The message is clear: you are at the center.
Expectations that are forcing brands to transform
The first change is that these clients no longer just want the most expensive product. They want the rarest luxury experience exclusive collections , workshop visits, fittings in a hotel suite, delivery by a consultant who speaks their language, and transparent storytelling about the leather or gemstone.
VICs are themselves opinion leaders. They post on Instagram , invite their networks, and recommend or not the brand. They are true private influencers . To win them over, brands have had to incorporate more sensitive topics into their messaging, notably sustainability , traceability , and social responsibility , because these themes now matter to the ultra-wealthy as well.
A dependency that can weaken luxury brands
However, there is a downside. When 20 to 40 percent of a market's sales come from a limited customer base, the brand becomes vulnerable. A health crisis, a change of government, a border closure, a reorientation of investment, and these customers quickly reduce their spending.
We saw it during the pandemic. Privileged customers hit pause more quickly than the traditional premium clientele. They simply no longer had the opportunity to wear those pieces. This reminded brands that customer diversification is as much about security as it is about acquisition.
The answer: open up without trivializing
To rebalance their revenues, the brands are working on two fronts. The first is expanding their customer segments . Millennials and high-potential Gen Z are being targeted with more accessible lines, digital collections, and limited-edition drops. Luxury isn't being compromised; it's being created as an entry point.
The second key area is geography . The traditional ultra-high-net-worth (UHNW) markets are still present, but brands are now looking at sub-Saharan Africa, Southeast Asia, and second-tier cities in China or Saudi Arabia. The idea is not to rely solely on a single pool of ultra-wealthy consumers.
Omnichannel as the backbone
It's impossible today to only serve customers in physical stores. The omnichannel approach allows you to follow a customer's journey. They see an item on social media, reserve it on the private app, try it on in Dubai , and it's delivered to them in Paris. This continuity fosters long-term loyalty .
It also allows brands to reach other profiles who wouldn't have walked into a flagship store. For brands, digital is no longer just a volume channel; it's a relationship channel. They invite customers to exclusive live events, showcase workshops, and feature the artistic director. It's a service provided to VIPs (Very Important People).
Social networks as a discreet amplifier
VICs are very active online, sometimes using their real names, sometimes anonymously. They observe what the brand does, what it supports, and who it collaborates with. A launch with a renowned artist, an eco-designed collection, a dinner on the sidelines of an art fair—all of this resonates with them.
Luxury social media has thus become a more discreet space for micro-communication, fostering a sense of belonging. However, brands must remain authentic , as this clientele quickly discerns when a message rings hollow or when the promise of exclusivity is overly marketing-driven.
Build loyalty through experience, not just the product
To retain these strategic clients, luxury brands are upgrading their relationship services . Invitations to exclusive fashion shows, tours of high-end watchmaking workshops, access to limited-edition collections , meetings with the jewelry director , and bespoke concierge services are all part of the package. What VIPs are looking for is proof that they are known, recognized, and valued.
When that's true, they stay. When it's no longer true, they move on to another company. Hence the need for groups to train their teams and provide them with highly sophisticated customer tracking tools.
A future to balance
The lesson is therefore quite simple. High- net-worth individuals (HNIs) will remain essential to the growth of the luxury sector, as they are the ones who buy the very high-margin pieces and create desirability around the brands. But luxury houses cannot rely solely on them. It is necessary to build a broader customer base , capable of supporting business during periods of slowdown, while continuing to pamper high-net-worth buyers. The houses that will succeed will be those that know how to balance these two approaches: exclusivity on the one hand, and controlled accessibility on the other.
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