Can luxury brands remain relevant in an ever-changing climate? Is slow fashion the future of luxury? How are Gen Zers revolutionising the meaning of luxe? In this part of the 2021 Expert Outlook, we speak to three experts about how people are rewriting the rules of luxury.
Luxury fashion label Khaite is making a name for itself, not just with its timeless designs, but by being part of a new group of brands that are pioneering the pre-order model. This slow fashion method reduces waste and gives small brands more maneuverability in uncertain times.
With store closures, reduced custom, and an abundance of excess stock, the luxury industry is feeling the impact of the pandemic. Alibaba hopes that Luxury Soho, a platform to sell excess stock at discounted prices, will lure Chinese Gen Zers into post-COVID-19 spending.
The widespread disruption caused by COVID-19 has forced brands in the luxury sector to rapidly rethink how they connect with customers. With high-end shoppers unable to peruse stores and attend exclusive events, how are labels adapting to stay relevant and ensure long-term loyalty?
As fast fashion begins to fall out of favour due to mounting ethical and environmental concerns, the market for second-hand clothing is surging. But how exactly can buying pre-loved apparel help people live more sustainably? And what other factors are fuelling the resale segment?