September 2020: Luxury News
August 2020: Luxury News
September 3, 2020October 2020: Luxury News
November 6, 2020
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High-end designers like Louis Vuitton, Fendi, and Dior are flocking to TikTok to reach new shoppers ahead of what will be the bleakest fashion week in history
AKLC COMMENT(S): Brands will leave no stone unturned to woo the younger audience!
TikTok users took to the social platform to participate in the “Gucci Model Challenge” at the end of August posting videos of themselves posing in whimsically patterned heavily layered outfits inspired by the company’s aesthetic
2. For beauty brands, contactless technology is creating safer shopping experiences
AKLC COMMENT(S): All about going Phygital 😉
Digital technology has impacted our world for decades, but its impact on the beauty shopping experience has never been more apparent than it is today. The beauty tech revolution is here. It’s imperative for brands to adapt quickly and recognize how advanced augmented reality (AR) and artificial intelligence (AI) technologies can help them reshape the way their consumers discover, try on, share and purchase beauty products in the modern world.
The global pandemic has brought with it a demand for new experiences that speak to modern-day shoppers — individuals who are cautious of heightened global health concerns, but also eager to return to in-store shopping experiences when circumstances allow.
Article link: https://www.glossy.co/sponsored/the-rise-of-beauty-tech-is-prompting-a-phygital-shopping-evolution
3. Don’t have enough dosh to spend on a Prada gown, Gucci bag or a Rolls Royce? Just rent it!
AKLC COMMENT(S): The Rental & Pre-loved luxury market will boom 🙂
Luxury doesn’t have to be always wasteful or expensive. As yet niche, the lease and pre-owned luxury movement are popularising the idea that luxury clothing, accessories, even cars can be rented instead of owned. And, if it has to be owned, it could be secondhand, a thought still considered a sacrilege by top-notch consumers of luxury.
4. Estée Lauder re-thinks skin-lightening products
AKLC COMMENT(S): All about cultural inclusivity & diversity
In a memo obtained by Bloomberg News, the company’s executives told employees last month that the company will re-evaluate skincare and makeup lines for “cultural sensitivity,” examining the use of terms like ‘brightening’ and ‘lightening’.
Elsewhere in the cosmetics world, some of Estée’s top competitors have had to rename or discontinue skin-lightening products, in response to public backlash, including Johnson & Johnson, which announced in June that it would stop selling two of its skin-lightening products sold in its Asia market.
Article link: https://us.fashionnetwork.com/news/Estee-lauder-re-thinks-skin-lightening-products,1240736.html
5. Krésha Bajaj launches ‘Fairytale Funding’ initiative for brides-to-be
“For the longest time I’ve had people tell me that they wish to wear one of our lehengas on their special day but most often than not it would end in them telling me, ‘I also hope I can afford it’,” Bajaj wrote on her website, announcing the initiative.
Article link: https://in.fashionnetwork.com/news/Kresha-bajaj-launches-fairytale-funding-initiative-for-brides-to-be,1240445.html
6. Covid-19 era: Would you stay in a Louis Vuitton hotel amid the pandemic?
Before the novel coronavirus hit, the world’s bling behemoths were pulling out the stops to sell “experiences” where their jet-setting customers could indulge in opulent lodging and dining, all while posting photos of themselves on Instagram. Between 2010 and 2019 demand for experience-based luxury, including fine wines and gourmet food, outstripped that for personal goods, such as watches and handbags.
Then Covid-19 upended the trend. Few are crossing oceans to stay at a Bulgari hotel or dine at a Gucci restaurant right now. But companies from Giorgio Armani Spa to Capri Holdings Ltd.’s Versace and LVMH Moet Hennessey Louis Vuitton SE could still turn the strategy of tapping into luxury as a broader lifestyle to their benefit. They could offer extravagant getaways to high spenders happy to pay extra to dine, shop and relax in a safe and secluded environment. Or coax more potential local customers out for exclusive home-town retreats given people aren’t splurging on long-haul airfare. And they could expand their offering with a broader push into health and wellness, where spending was already booming before the pandemic.
7. Increasing prices in Covid-19? Chanel, Louis Vuitton show it works
Fashion student You Xiaobao was instructed by his sisters to urgently purchase a couple of Louis Vuitton handbags last week in Shanghai. His sisters had learned from contacts on WeChat Moments that the brand would raise prices in September and wanted to finalise their purchases before the spike. You, who says a Louis Vuitton sales person confirmed the price hike to come, ended up spending RMB 34,600 (£3,800) in the store. (A Louis Vuitton spokesperson said the brand doesn’t officially comment on price increases.)
Chinese consumers usually hear of price hikes from luxury daigous, or “surrogate shoppers”, who alert their clients via social media like WeChat and Xiaohongshu. Spurred by price increase rumours, last week consumers were seen lining up outside Louis Vuitton, Chanel, Gucci and Hermès boutiques at Plaza 66, a high-end mall in Shanghai. Queues were reported in other cities too, including Beijing and Nanjing.
Article link: https://www.voguebusiness.com/companies/price-increase-china-louis-vuitton-chanel-gucci-covid-19?amp
8. Louis Vuitton Launches $961 Covid Face Shields
AKLC COMMENT(S): Approximately INR 70,000, these face shields come at a whooping price!
Now that face masks and shields are officially a part of our everyday outfits for the foreseeable future, it makes sense that luxury designers would want to cash-in on the biggest accessory trend to come out of the pandemic. A number of brands have already made the foray into fancy masks, but Louis Vuitton is the first to offer a high-fashion face shield, with the price tag to match.
The French fashion house announced this week that it will be releasing its elegant $961 take on PPE as part of the label’s 2021 Cruise collection, available in stores worldwide on October 30th. The shield is composed of an elastic monogrammed strap that goes around the wearer’s head with a moveable shield attached by golden studs engraved with the LV logo. The shield itself also comes trimmed in Vuitton’s signature monogram print, can be flipped upwards to be worn as a peaked hat, and also comes with transition lens technology so it can go from clear to dark depending on the level of sunlight.
Article link: https://www.vanityfair.com/style/2020/09/louis-vuitton-luxury-covid-face-shield/amp
9. Life without LVMH? How Tiffany might fare without the luxury giant
10. Maldives resort launches $23,250 luxury remote working package
AKLC COMMENT(S): Sounds like an ideal Workcation 😉
A desk with an ocean view, a “dedicated” personal assistant, non-stop refreshments and a complimentary laundry service.This might read like an over-imaginative wish list from a frustrated remote worker, but a luxury resort in the Maldives has just launched a “Workation Package,” with all of these benefits and more.
Article link: https://edition.cnn.com/travel/amp/maldives-workation-package/index.html
11. TikTok teams up with luxury brands like Louis Vuitton and Saint Laurent to livestream runway shows from fashion weeks around the globe
AKLC COMMENT(S): Great way to engage with the younger audience!
12. Gaurav Gupta sells 200 pieces in first two days of e-commerce launch
AKLC COMMENT(S): Thats great news for Indian Couture 😀
After just two days of launching, Gupta’s e-commerce store sold 200 pieces, the designer told Vogue India. The site, which retails both the brand’s ready-to-wear and couture collections, also offers customers designer consultations online.
“We were always a little skeptical of offering couture online because of counterfeits and were unsure if people were ready to make heavy purchases online,” Gupta told Vogue India.
Article link: https://in.fashionnetwork.com/news/Gaurav-gupta-sells-200-pieces-in-first-two-days-of-e-commerce-launch,1241746.html
13. 5 Tips for Selling Luxury Products on Facebook and Instagram
AKLC COMMENT(S): Wonderful insights
Luxury products aren’t immune to these changing trends. The visual nature of Facebook and Instagram make it easier for luxury brands to communicate their premium status and reach the audiences most likely to buy.
Article link: https://www.entrepreneur.com/amphtml/355306
14. Would you buy couture online?
AKLC COMMENT(S): Well for now, people will indulge buying online.
Couture spells bespoke, so the approach has always been personalized, with the process involving detailed interactions between the label and the client, right from choosing the design to the final fitting. “It (couture) is an experience that’s specifically for yourself. It’s going into a store and buying something for yourself that suits your colour, height and parts of your body,” says Tina Tahiliani Parikh, executive director of Ensemble India.
Article link: https://www.livemint.com/mint-lounge/features/would-you-buy-couture-online/amp-11600402539825.html
15. Tom Ford’s Newest Luxury Watch Will Be Made From 100% Recycled Ocean Plastic
Plastic isn’t a material one typically associates with modern luxury, but Tom Ford is vying to change all that. The American designer has just announced that he will launch this fall the first high-end wristwatch crafted from 100 percent recycled ocean plastic.
The Swiss-made watch, known simply as the Tom Ford Ocean Plastic Timepiece, will tackle the world’s plastic waste problem via a multi-pronged approach. The timepiece itself is made from plastic waste that is hauled from the ocean using carbon-neutral transportation and then compounded in Switzerland using solar energy. On top of that, all accompanying packaging is also recyclable.
Article link: https://robbreport.com/style/watch-collector/tom-ford-first-luxury-watch-made-entirely-from-ocean-plastic-1234569219/amp/
16. Dior releases it’s first-ever baby stroller in collaboration with Inglesina and it comes a matching diaper bag too
AKLC COMMENT(S): OMG :O
It’s time to have a baby! Dior is releasing its first stroller in collaboration with Inglesina! For those who are shrugging this off as not a good-enough reason need to know this is one of the most stunning strollers ever in the unmistakable Dior Oblique print! Inglesina! The Italian brand known for its premium baby strollers and highchairs, offers this bassinet and stroller combo that comes with an adjustable canopy protecting from both the sun and rain. Dior branding is splashed on the handles and wheels owing to which the trolley exudes luxury with and allows baby and mommy to make a fashion statement with an incredible matching diaper bag following the same design theme; it comes in jacquard canvas and fits easily over the handlebars. Set into the frame or to take out, the stroller comes with added support for soft comfort provided with an innovative ventilation system, and mattress made of natural bamboo fibers. This modular creation can be folded and unfolded as desired, with ease.
17. E-tailers may log record $7 billion festive month sales
E-commerce companies are expected to post nearly 50% jump in gross sales to $4 billion this Diwali, a two-year high, during the five-day sale events of Flipkart , Amazon India and others, according to the latest estimates from market research firm Redseer.
With Covid-19 accelerating digital adoption and traditional offline shoppers moving online, the festive season is expected to see an over 70% jump in consumers with 45-50 million digital buyers. Of these, over 50% are likely to be from tier-II cities and beyond, Redseer estimates. The entire festive month is expected to clock gross sales of $7 billion in 2020 against nearly $4 billion last year, a 75% jump.
18. Can Luxury Fashion Ever Regain Its Luster?
AKLC COMMENT(S): Yes, it definitely will.
The industry is trying to reach customers amid a severe global recession that has brought mass layoffs and plunging sales. Traditional fashion weeks might be out of step
Articlelink: https://www.nytimes.com/2020/09/22/business/luxury-fashion-september-coronavirus.html
19. The 7 Biggest Spring 2021 Fashion Trends From New York Fashion Week
AKLC COMMENT(S): From chic overalls to volume sleeves, upscale lounge wear and bold prints- we are in awe of all!
20. Chanel issues bond linked to climate targets
AKLC COMMENT(S): Wow! Big step towards sustainablity
Fashion firms have made a public push in recent years to show their environmentally-friendly credentials, switching away from some materials used in clothing or handbags or trying to improve their energy sourcing in stores.
A handful are now exploring new financing avenues to back their push towards more stringent goals in areas such as carbon emissions. “Sustainability-linked bonds” are tied to targets at the company-wide level, in contrast to green bonds, which fund specific projects.
Article link: https://in.fashionnetwork.com/news/Chanel-issues-bond-linked-to-climate-targets,1246281.html
21. More legroom, a specialized champagne chiller and a rear seat more comfortable than a private jet – Behold the 2021 Rolls-Royce Ghost Extended
AKLC COMMENT(S): AMAZE <3
Less than a month after revealing the new, 2nd-generation Rolls-Royce Ghost, the Goodwood-based luxury automaker has now revealed its longer-wheelbase Extended model. The stretched-out version of the new Ghost is 170 millimeters (6.7 inches) longer than the standard model, giving it the most legroom on offer amongst all luxury sedans except for the mighty Rolls-Royce Phantom Extended. In terms of design, the LWB Ghost looks near identical to the standard variant except for the slightly larger rear doors and the body panels around it. The model in the press photos wears a beautiful two-tone black-and-green paint scheme which accentuates the uber-luxury sedan’s stunning body lines.
22. Forest Essentials partners with Reliance to recycle packaging waste
AKLC COMMENT(S): Great Job.
Reliance will use the waste collected at the Forest Essential stores to effectively re-purpose and recycle it into secondary applications such as new fibres, bottles, containers, carpets, clothing, upholstery fabrics, fibrefill for winter jackets, sleeping bags, and other such items
Article link: https://in.fashionnetwork.com/news/Forest-essentials-partners-with-reliance-to-recycle-packaging-waste,1246436.html
