October 2020: Luxury News
September 2020: Luxury News
October 7, 2020
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While travel is here to stay, here’s what will change
AKLC COMMENT(S): Domestic travel, with all safety precautions will definately amp up in India.
Personalised services that allow the consumers to plan their travel with increased flexibility and digital solutions that let them do so remotely will be immensely popular. An added layer will be the need for remote planning for travel with very few human touchpoints.
Article link: http://bwhotelier.businessworld.in/amp/article/While-travel-is-here-to-stay-here-s-what-will-change/27-09-2020-325232/
2. 3 Critical Steps Luxury Brands Must Take To Rebound From COVID-19
AKLC COMMENT(S): Very interesting read.
Many luxury brands are struggling to keep their stores afloat. Even before the pandemic, After speaking with luxury fashion brands all over the world, I realized they were all facing a similar challenge: decreased store foot traffic. For many luxury brands, having only 20-40 percent profitability across all their stores during good times is normal. As much as 90 percent of some brands’ stores are unprofitable, and these are pre-pandemic numbers.
COVID-19 was like adding petrol to an already roaring fire. From paying high rents in malls and top retail locations to store staff, unsold items, and advertising, running the profit & loss for a luxury store operation has become a nightmare for many brands. These costs have compounded now that customers around the world are reducing their store trips. In many cases, these changes in behavior will become permanent. So, what should luxury brands do?
Article link: https://jingdaily.com/china-luxury-brands-rebound-covid-19-dior-gucci/
3. Fragrance: The shift to digital
AKLC COMMENT(S): 67% of our Instagram audience prefer to buy fragrances from the store.
Never mind that it took a global pandemic to make it happen. The fragrance industry is finally responding to the shift to online shopping.
Article link: https://www.voguebusiness.com/beauty/fragrance-the-shift-to-digital?amp#
4. Gucci’s Candles, Trinket Dishes and Mugs Will Add a Touch of Vintage Inspiration To Your Home
AKLC COMMENT(S): Some new Gucci homeware for you?
Redecorating your home is a great way to freshen up the “stay indoors” experience, and there’s not a more luxurious way to do it than to shop Gucci‘s new line of homeware goods.
In addition to its chairs, vases, and cushions, is a new selection of Gucci homeware goods such as scented candles, trinket dishes and trays, and mugs.
The Flora Inventum candle is incredibly floral, packing notes of pink rose and Taif damask rose inside its baby blue porcelain container, which is covered in exotic flowers and Gucci branding. The Marble Esotericum iteration is slightly more fall-appropriate thanks to its jasmine, bitter Sevilla orange, leather and salt scent that’s captured inside the vintage jar, which combines Gucci branding with a cracked marble finish, a fist and key handle, and other signature house design cues.
Article link: https://hypebeast.com/2020/10/gucci-homeware-candles-trinket-dishes-pots-mugs-ashtrays-alessandro-michele-scents?amp=1
5. Fashion brands design ‘waist-up’ clothing for video calls
Fashion labels are designing outfits for video calls during the coronavirus pandemic.
A “waist-up” focus has been noticed at both Milan and London Fashion Weeks, with detailed necklines and relaxed trousers.
Prada placed its logo near the collars of its tops, and featured large coats pulled around shoulders like a blanket.
It said it was not inspired by Zoom, but by the “contemporary human relationship with technology”.
“Fashion is about reacting to reality,” said Miuccia Prada, head designer of Prada, at its virtual Milan fashion show. “During lockdown, I realised how important technology is and how it is impactful for us, and in some ways, an extension of ourselves.”
Article link: https://www.bbc.com/news/amp/technology-54327987
6. Luxury And Prestige Are Not The Same
The American Express Centurion Card and its sibling The Platinum Card are prestigious, as are The Chase Sapphire Reserve and The J.P. Morgan Reserve Credit Card. These cards can buy luxuries. A Regal Cruise is luxurious with a wide range of luxury amenities. A Venicci Shadow 2-in-1 Stroller is a very prestigious perch for your infant. It is not clear that your baby appreciates luxury. An Oscar is a prestigious award. But, what is prestige? What is luxury? These two concepts – prestige and luxury – are not the same. Yet, they tend to be used as synonyms. This is a marketing mistake.
Article link: https://www.forbes.com/sites/larrylight/2020/09/30/luxury-and-prestige-are-not-the-same/amp/
7. Drive, skate, vote: Louis Vuitton closes Paris Fashion Week with slogans
French luxury label Louis Vuitton on Tuesday showed off its latest collection on the last day of Paris Fashion Week, featuring slogans splashed onto tops and dresses in pop colours – and which included a sweater stating “Vote”. The look was the first one to cross the runway – housed inside a spectacular Art Deco building in Paris – and was followed by others like “Skate” or “Bounce”, on outfits with a skater-vibe. The brand, owned by luxury goods conglomerate LVMH, provided no specific context for the slogans, though the show comes weeks before the U.S. presidential election.
8. Kering, McCartney link with Bolt Threads on high-tech eco leather substitute
AKLC COMMENT(S): Great initiative on sustainability
The companies it’s working with include luxury names Kering and Stella McCartney, as well as sport-to-leisure specialists Adidas and Lululemon. They’ll be exclusively using the material that’s made from “infinitely renewable mycelium”.
The material “looks and feels like leather” and the brand partners will start bringing products featuring Mylo to market in 2021.
Article link: https://in.fashionnetwork.com/news/Kering-mccartney-link-with-bolt-threads-on-high-tech-eco-leather-substitute,1249644.html
9. Mercedes-Benz EQC tech review: Luxury, electric and tech-rich
AKLC COMMENT(S): All our Instagram audience expressed interest in this new electric car!
When electric car poster boy Tesla comes to India next year, it will likely have two big luxury car makers to contend with. BMW has been waiting in the sidelines with the i3s since last year, while Mercedes-Benz has launched the EQC, its first all-electric vehicle. But unlike the i3s’ toned down interiors, the EQC doesn’t skimp out on the luxury and tech bits to simply bring an electric car to the market.
10. The tiniest, rich kids of Instagram. These are the top 10-under-10 highest-earning kids on Instagram, making a staggering $16,000 per post even before they learn to say, mama!
AKLC COMMENT(S): Is this what we are really doing to their childhood? 🙁
People have made careers out of their channels on YouTube and are now raking in big money on Instagram too. No matter what field they belong to sports travel or food when these influencers post and share the world stops to listen. Surprisingly, this strong voice not only belongs to experts and seasoned players but also to the rich kids of Instagram! It would surprise you how much these tots who are barely 10 years of age make per post. Their tech-savvy parents have truly dedicated their lives to documenting their babies well and all-day in exchange for a few million. According to new data compiled by Bella Baby, Insta-kids as young as one can command thousands of dollars for a single sponsored post. Taking the number one spot is a seven-year-old darling and the list also includes one-year-old Alaïa Marie McBroom, as the youngest top earner. With millions of followers and millions in their bank accounts, these tiny tots have mastered the money-making business even before they experienced the loss of their milk teeth. Marvelous as they come, these are the highest earnings kids on Instagram:
11. Move over Instagram Husbands, Insta Butlers are taking over!
AKLC COMMENT(S): We’d like one Insta butler too please 😉
12. Gucci just partnered with The RealReal, joining a growing number of legacy luxury brands on the platform. It shows how the appetite for high-end clothes will never die, just evolve.
AKLC COMMENT(S): The re-sale market will definitely boom ahead
It’s official. Gucci has partnered with The RealReal, becoming the latest luxury brand, after Burberry and Stella McCartney, to work with the luxury resale platform, as the online secondhand market continues to grow.
The sector is expected to be worth $51 billion globally by the year 2023, Business Insider’s Madeline Stone previously reported, citing research from ThredUp and GlobalData Retail.
13. Audi banking on entry-level luxury car segment to widen customer base
AKLC COMMENT(S): Great
14. DLF Emporio’s Luxury Shopping Festival is all about going back to the start
AKLC COMMENT(S): 50% of our Instagram audience prefer going to the malls now and the other half would continue to shop online if need be.
The constant spate of virtual conferences, events, launches, is no longer the new normal, and in fact become quite mundane. Taking a risk and going back to what events looked like pre-Covid, is DLF Emporio Mall with its first physical event post Unlock – 12th edition of its annual Luxury Shopping Festival.
The 12-day celebrations began with the first-ever digital showcase of India Fashion Week in collaboration with FDCI, now followed by the eighth edition of Couture Weddings 2020. About the arrangements being made, Prashant Gaurav Gupta, Vice President and Head, DLF Luxury Malls, says, “We are strictly adhering to the WHO and MHA guidelines, and have put a lot of new processes and measures in place. We have activated a sanitisation tunnel for cars. While keeping the parking process contactless, automated sanitisers are available all the touch-points. We have installed high-definition thermal cameras and a sanitisation mat to enable seamless entry.”
15. Hermes has launched a trio of gorgeous limited edition lipsticks
If you’re looking to upgrade your lipstick collection this season, Hermes Beauty has got your covered! The brand has recently unveiled three new lipsticks packaged in the now-classic Hermès lipstick tubes designed by the brand’s veteran and designer, Pierre Hardy.
The collection consists shades ranging from Rose Ombrè, a muted rosewood color, to Rose Pommette, a vibrant sunset pink, and Rose Nuit, a subtle matte rose with blue undertones. While belonging to the same color family, each lip color is strikingly different and ideal for a multitude of occasions.
Article link: https://luxurylaunches.com/beauty/hermes-has-launched-a-trio-of-gorgeous-limited-edition-lipsticks.php
16. How 5G will change AR and digital fashion
AKLC COMMENT(S): Damn interesting
More realistic augmented reality experiences, seamless video streaming, faster online transactions and more specific location information are all set to improve as more countries become 5G enabled, offering a lifeline to the fashion industry relying on digital amid the pandemic.
Unveiled this week, Apple’s iPhone 12 is the first of its phones to be 5G-enabled, and its more expensive “Pro” line comes with a Lidar scanner, allowing the device to build a depth-map of a scene. Other brands including Google, Huawei and Samsung Galaxy also offer 5G-enabled phones.
Article link: https://www.voguebusiness.com/technology/how-5g-will-change-ar-and-digital-fashion?amp
17. Gucci and Louis Vuitton are the world’s most valuable luxury fashion brands
Gucci and Louis Vuitton have topped the fashion category of the world’s most valuable luxury brands, according to Brand Finance’s annual report. The fashion houses came in second and third respectively on the general round-up after Porsche, which was ranked the most valuable luxury brand in the world.
Article link: https://www.harpersbazaar.com/uk/fashion/fashion-news/amp34367036/gucci-louis-vuitton-most-valuable-luxury-brands/
18. Hotels on demand: Operators are selling ‘subscriptions’ to lure back visitors
Fitness membership? Check. Streaming account? Of course. Meal kit service? Sure.
How about your hotel subscription?
Articlelink: https://www.cnbc.com/amp/2020/10/16/hotel-subscriptions-hospitality-industry-sells-subscriptions.html
19. A Hermès Trend Other Luxury Brands Hope to Copy
AKLC COMMENT(S): Wow!
Wealthy people used to buy designer goods on their travels. Now they might be buying them because they can’t go anywhere.
On Thursday, French handbag maker Hermès became the first major luxury-goods company to report a return to growth in the third quarter. Sales at constant currencies increased 7% compared with the same period of last year. Analysts covering the stock had anticipated a slight decline.
Article link: https://www.wsj.com/articles/a-hermes-trend-other-luxury-brands-hope-to-copy-11603370469
20. Kering sales beat expectations, adding to luxury buoyancy
Kering, the owner of Saint Laurent and Bottega Veneta luxury brands, said on Thursday that third-quarter sales fell 1.2 per cent, far better than analyst expectations, adding to positive signs the luxury industry is starting to recover from the global pandemic.
Momentum in North America — which was ahead 44 per cent — and Asia Pacific, especially China, helped compensate for heavy declines in Western Europe and Japan, Kering said in a statement.
Article link: https://www.voguebusiness.com/companies/kering-sales-beat-expectations-adding-to-luxury-buoyancy
21. For the dog walkers in the Hamptons – Ditch the plastic and walk your pooch in style with this exclusive poop bag by luxury fashion brand Shaya
AKLC COMMENT(S): Hahaha! Talk about poop bags now
There’s an air of glamour about walking your dog with your choicest fitness gear on. Well, at least until your dog gets to doing business and you’re the one who needs to clean it up! However, in making sure that your doggy strolls remain just as stylish, we have luxury brand Shaya with its newest edition – a poop purse!
22. The Indian luxury consumption market
AKLC COMMENT(S): Such an insightful read.
The speeding chariot of Indian luxury market is led by the rising income of the middle-class population. Be it wearing Gucci or spraying its Gardenia, flaunting a Chanel’s tote bag or Balenciaga’s clutch in a weekend party, luxury goods have invaded the middle class’ indulgent wardrobe. Indian luxury market is projected to grow from the current US $ 40 billion to US $ 180 billion by 2025. Although, in terms of its share in the global luxury market our country is nowhere near to the Chinese (particularly, generation Z) who dominates this particular industry segment, globally. While newer brands are targeting specific income and age groups, tactically while embracing new-age fashion technologies, the older luxury giants are more reluctant to do so.
Article link: https://www.sentinelassam.com/editorial/the-indian-luxury-consumption-market-507933
23. The lowdown on India’s luxury home market
AKLC COMMENT(S): 👏👍
Ready to move in apartment in the ₹2 cr to ₹5 cr range are getting popular. The past few months have seen the luxury home buyer making a comeback. Since COVID-19, buyers across segments have deferred their buying decisions. In the case of those eyeing luxe homes, however, the lockdown has given them time to look for one that suits their needs best.
A recent FICCI-ANAROCK report states that this particular buyer group has not been impacted much by the pandemic. In addition, lowered interest rates, reduced stamp duty and registration charges in many States, the six-month moratorium etc. have given relief to home buyers. “With all these measures being implemented and an ease in restrictions, the market has slowly improved. Sales have phenomenally increased in the last two months,” says Rajesh Gurumurthy, Senior Director, Head, Strategic Consulting, Tamil Nadu & Sri Lanka, at Jones Lang LaSalle. Many States are already claiming to have registered more properties compared to the March-June period. With buyers looking for good offers during the festive season, developers are also seeing the change in lifestyles and accommodating their requests, says Gurumurthy.
Article link: https://www.thehindu.com/real-estate/the-lowdown-on-indias-luxury-home-market/article32927700.ece/amp/
24. A Second European Wave of Covid Could Erase the Luxury Market’s Fragile Recovery
AKLC COMMENT(S): Very concerning 🙁
Just as the luxury market’s downturn was beginning to see the first glimmers of recovery, Europe’s second coronavirus wave threatens to send it reeling once again.
Though Europe may be home to many of the world’s most recognizable luxury labels, it is heavily reliant on tourist spending. And with coronavirus cases surging once again, the world’s most esteemed brands aren’t likely to see travelers returning to their gilded shops anytime soon. But according to a new report from Vogue Business, Europe’s luxury sector might be able to take some strategic cues from Chinese consumer habits.
Article link: https://robbreport.com/style/accessories/europe-second-covid-wave-luxury-market-1234575838/amp/
