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IORMA LUXURY CENTRE UPDATE: THE FASHION INDUSTRY IN 2024 Edited by: Pandora Mather-Lees, Luxury Director, IORMA Research: Aleksandra Basova, IORMA Researcher September 2024 In this comprehensive exploration of the luxury fashion sector, we delve into the intersection of technology, consumer behaviour, and innovation. Representing IORMA’s Luxury Centre, we take a look at the evolving landscape of luxury fashion, identifying key trends that are shaping the industry’s future. From digital transformations to sustainability initiatives, this article uncovers the strategies and innovations that will define the luxury fashion sector in the coming years. View the Executive Summary and Download the FREE Full Report here:

IORMA LUXURY CENTRE UPDATE: THE FASHION INDUSTRY IN 2024 Edited by: Pandora Mather-Lees, Luxury Director, IORMA Research: Aleksandra Basova, IORMA Researcher September 2024 In this comprehensive exploration of the luxury fashion sector, we delve into the intersection of technology, consumer behaviour, and innovation. Representing IORMA’s Luxury Centre, we take a look at the evolving landscape of luxury fashion, identifying key trends that are shaping the industry’s future. From digital transformations to sustainability initiatives, this article uncovers the strategies and innovations that will define the luxury fashion sector in the coming years. View the Executive Summary and Download the FREE Full Report here:

Is Degrowth the Next Luxury Fashion Business Model? Embracing the concept of Degrowth isn't just a trend; it's a positive shift towards sustainability and mindful consumption. From luxury houses like Chanel and Hermès to emerging brands like Marfa Stance and LR3 by Louis Rubi, the industry is reimagining its practices. Taking a pragmatic look at the industry-at-large, consideration needs to be paid to all the various moving parts before an honest conversation can be had around how to implement the concept of shrinkage over growth. #Chanel, #Hermes, #PheobePhilo, #LVMH, #Dior, #Coperni, #Armani, #Prada, #Burberry https://lnkd.in/d8GQJaEQ

Leather Goods and Jewelry in the Future of Luxury The luxury industry is undergoing a profound transformation, with #leathergoods and #jewelry emerging as key pillars for future growth. 📊 According to the latest insights, these categories are set to grow 4-6% annually between 2025 and 2027. Why? Because they resonate with a diverse client base, offering timeless value as investment pieces and creative statements. But let’s analyse the 2 categories: 👜 Leather goods remain resilient with iconic pieces like the Hermès Birkin holding strong value and continued demand for luxury gifting. 💍 In jewelry, there’s growing interest from ultra-high spenders and younger, diverse clients, with a shift toward branded pieces, genderless collections, and new gifting occasions. However, challenges include the rise of lab-grown diamonds, changes in bridal demand, and increasing competition from the secondhand market. > Brands can seize opportunities through exclusivity, personalization, and limited editions to stay ahead. Luxury is evolving and adapting to new customer expectations, here are 5 key shifts: 🔹 Always-On Marketing – Year-round digital strategies are replacing seasonal campaigns, increasing brand visibility. 🔹 Creative & Leadership Changes – New creative visions are reshaping brand identity, while leadership roles continue to shift. 🔹 Luxury’s Growing Accessibility – Diffusion lines, beauty, and resale are making luxury more accessible, challenging exclusivity. 🔹 Faster Trend Cycles – Social media fuels constant demand for newness, but rapid drops risk brand dilution. 🔹 Ethics & Sustainability Scrutiny – Consumers demand more transparency, questioning greenwashing and ethical production. > Luxury brands must balance innovation with authenticity, how do you see the future of luxury evolving?   Source: The State of Fashion Luxury by McKinsey and Bof, McKinsey State of Luxury forecasts, based on McKinsey Global Fashion Index in The State of Fashion 2025. Painting: "Jewelry shopping" by Louise Chiasson --- I am a Leather Goods and Jewelry Designer | I help brands build standout products while exploring insights into craftsmanship and innovation.

Fashion's Game of Thrones: Haider Ackermann Takes the Helm at Tom Ford The luxury fashion world just witnessed a seismic shift. Haider Ackermann, the visionary designer known for his bold aesthetics, has been named the new creative director of Tom Ford. This move is more than just a changing of the guard - it's a fascinating study in brand evolution and luxury strategy. Key takeaways: Legacy Meets Innovation: For me, Tom Ford's endorsement of Ackermann speaks volumes. It was a blatant anointing of a much favoured successor. Their aesthetics align perfectly. Both love opulent sexiness and rakish tailoring. Strategic Growth: Of course we musn't forget about putting money in the till. Ermenegildo Zegna Group's focus on expanding Tom Ford's womenswear aligns perfectly with Ackermann's strengths. It's a very clever move to tap into new markets. Global Vision: Ackermann's diverse background and international perspective could bring a fresh, global approach to the brand. This is the kind of #diversityinluxury we love to see. Hollywood Connection: Being glamour pusses, both Ford and Ackermann have strong ties to Hollywood. This continuity could maintain and even enhance the brand's celebrity appeal. Creative Wandering Pays Off: Ackermann's recent diverse roles prove that in luxury, versatility and continuous learning are invaluable.Following recent shakeups at Dior, Zara, and UNIQLO, expect more creative leadership changes across luxury brands. As I discuss in my soon to be releases book, "The Luxpreneur: How to Start and Build a Successful Luxury Brand," the ability to blend heritage with innovation is crucial in luxury brand management. This appointment is a prime example of that principle in action. What do you think this means for the future of Tom Ford and luxury fashion as a whole? Will Ackermann's "profound sensuality with strict rigour" take the brand to new heights? #TheLuxpreneur #Luxpreneur #DiversityinLuxury #LuxuryFashion #BrandStrategy #LinkedinNews #LinkedinNewsUK #CreativeLeadership #TomFord #HaiderAckermann

Is Degrowth the Next Luxury Fashion Business Model? Embracing the concept of Degrowth isn't just a trend; it's a positive shift towards sustainability and mindful consumption. From luxury houses like Chanel and Hermès to emerging brands like Marfa Stance and LR3 by Louis Rubi, the industry is reimagining its practices. Taking a pragmatic look at the industry-at-large, consideration needs to be paid to all the various moving parts before an honest conversation can be had around how to implement the concept of shrinkage over growth. #Chanel #Hermes #PhoebePhilo #LVMH #Dior #Coperni #Armani #Prada #Burberry Read more:

The fashion luxury industry is at a crossroads, navigating fleeting trends, rising costs, and the rise of circular fashion. Traditional brands must adapt to second-hand luxury fashion, which is redefining luxury for modern consumers. https://lnkd.in/grVDx4Wm

The Art of Collaboration: High Fashion Meets Modern Appeal At Retyche, we celebrate the evolution of fashion, where timeless luxury intersects with contemporary culture. Recent collaborations, such as the highly anticipated Skims x Dolce & Gabbana partnership, are redefining the boundaries of high fashion. These creative unions not only capture global attention but also align with our mission to make luxury fashion more accessible, sustainable, and inclusive. When Skims, a modern shapewear and loungewear brand, teamed up with Dolce & Gabbana, the result was a marriage of minimalism and opulence. The collaboration showcased reimagined archive pieces from Dolce & Gabbana’s iconic collections, styled with Skims’ signature simplicity. It was a perfect blend of the past and present, catering to a broad audience while maintaining the exclusivity of high fashion. This trend of collaboration is becoming more than a passing strategy—it's a way for heritage brands to stay relevant in a rapidly changing industry. By teaming up with brands like Skims, which resonate deeply with younger, digitally-savvy consumers, high fashion houses are opening their doors to new demographics. These collaborations inject fresh perspectives into traditional design while amplifying their cultural relevance in an era where storytelling and inclusivity drive consumer loyalty. At Retyche, we see these collaborations as a reflection of the broader shift towards making luxury more approachable. While partnerships like Skims x Dolce & Gabbana showcase modern innovation, we aim to extend this vision by offering preloved luxury items, ensuring timeless pieces find new homes. By giving customers access to luxury at attainable prices, we continue to champion the ethos of blending heritage with inclusivity—just as these collaborations do.

In recent years, the intersection of luxury fashion and political dialogue has become increasingly prominent. High-end brands, once simply purveyors of style, are now often viewed through a critical lens, as symbols of excess and moral ambiguity. Critics argue that the extravagant lifestyles showcased in luxury fashion serve as a form of political propaganda, influencing public sentiment in ways that resonate beyond the runway. Luxury fashion has the power to shape narratives. Designers and brands that align themselves with certain causes or political figures do so with the understanding that their creations can communicate messages of power, status, and privilege. When celebrities or influential figures adorn themselves in high-fashion labels, they often wield their clothing as a form of identity politics, inadvertently emphasizing socio-economic disparities. As society grapples with issues such as inequality and climate change, the ostentation displayed on red carpets can provoke discomfort and dissent, framing luxury as a glaring contradiction to the struggles faced by everyday people. This juxtaposition raises critical questions about the values embodied by luxury fashion. Is it merely a reflection of personal choice, or does it propagate a sense of moral corruption? Critics argue that as the wealth gap widens, the role of expensive clothing in public life becomes more pronounced, serving as a reminder of the privileges enjoyed by a select few in contrast to the many who struggle to make ends meet. Brands have begun to respond to this scrutiny, implementing social responsibility initiatives and sustainability practices to redeem their images. While these efforts are commendable, they often appear as reactionary rather than foundational changes. The question remains: can luxury fashion genuinely transform its narrative from one of opulence to one of ethical responsibility? In this complex landscape, the consumers hold significant power. As they become increasingly aware of the implications of their choices, they can challenge the status quo, demanding accountability from brands that profit from both high prices and social relevance. As such, the future of luxury fashion will likely hinge not just on aesthetics, but on its ability to engage with pressing societal issues authentically. In conclusion, the role of luxury fashion as a tool of political propaganda is a multifaceted issue that merits deeper examination. As stakeholders in this industry, we must navigate these complexities thoughtfully, recognizing the influence of our choices and advocating for a fashion community that aligns with the values of equity and integrity. The challenge lies in transforming luxury fashion from a beacon of moral controversy into a platform for positive change. Style

In 2024, the fashion landscape witnessed a notable shift as "quiet luxury" evolved into "silent luxury," emphasizing affordable yet stylish essentials. Brands like Uniqlo, Gap, Banana Republic, J Crew, and Cos have risen to prominence, offering quality fashion at accessible prices amid soaring luxury costs. This trend has redefined consumer perceptions, making affordability a desirable trait. The practice of high-low dressing—combining budget-friendly items with high-end pieces—has gained popularity, reflecting a more democratic fashion landscape. Notably, designers such as Zac Posen have collaborated with mid-market brands, further bridging the gap between luxury and everyday fashion. Accessible luxury brands like Coach have adapted by providing aspirational yet affordable products, appealing to a broader demographic. This year has been characterized by a realistic aspiration, making style attainable for many without strict imitation of high fashion. https://lnkd.in/dDBiucE6