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Luxury brands are going after young consumers by partnering with hip-hop artists and streetwear icons.

Sep 01 2021

Luxury brands are going after young consumers by partnering with hip-hop artists and streetwear icons. While luxury brands have typically been associated with older (and wealthier) consumers, many are shifting to appeal to Gen Z and Millennials (who are expected to make up more than 60% of the luxury market by 2026) by partnering with influencers and celebrities tied to hip-hop and streetwear culture. Tiffany’s “About Love” campaign with Beyoncé and Jay-Z mixes tradition with modernity by paying homage to Audrey Hepburn’s iconic role in Breakfast at Tiffany’s, and the brand has committed $2 million to historically Black colleges and universities; Gucci teamed up with Tyler, The Creator last September; and Chanel has maintained a long-standing relationship with Pharell Williams. Elena Romero, an author and professor at FIT, notes that aligning with hip-hop and streetwear culture is an attempt from luxury brands to make their products feel more authentic to young consumers and show them how they’re committed to supporting diverse communities that luxury brands have traditionally overlooked. YPulse’s luxury research shows that leaving exclusivity behind and making products more accessible is vital for reaching young shoppers, and the owner of Scaling Retail Syama Meagher explains that luxury brands need to build community, not just create products for young consumers. (Glossy)