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  • Do Gen Yers have any interest in traditional luxury?
  • Do Gen Yers have any interest in traditional luxury?
    EventPhotosNYC, Creative Commons (2016) ©
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Has luxury fashion lost its lustre?

A decade ago, 'luxury' might have meant a Mercedes, a Prada bag or a Rolex. But in 2016, old symbols of extravagance are out and people are searching for more meaningful things to spend on. With the market thought to have grown just 1-2% in 2015, is this the end for traditional luxury fashion brands?

Location North America / Northern Europe

Scope
“About six years ago I was a massive fan of Mulberry handbags,” says 35-year-old Megan who works for Christie's. “But now I’m almost embarrassed to wear them; the Mulberry badges just feel a little too showy. I’ve got three at the bottom of my wardrobe that I literally never use.” [1] The idea of luxury used to mean a Mercedes, a Prada handbag or a Rolex. But in 2016, old markers of wealth are out and consumers are searching for something more meaningful to spend their money on. They’re eschewing expensive name brands for items that hold ...

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