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While other luxury brands such as Prada and Burberry are languishing and the consulting firm Bain & Company predicts that this year the global luxury market will stagnate at €253 billion or at her response best grow slightly, business is booming at MCM. Ms. Kim expects slightly lower growth this year – but that means a “plus of 15 to 20 percent.” MCM is particularly popular in Asia, where many of its competitors are currently having big problems. The brand’s success has to do with the way Ms. Kim, who spent a stint at Italian luxury brand Gucci, has changed its direction. Ms. Kim, who is 60, comes from a wealthy, religiously inclined family. She originally studied theology in her native South Korea.
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