- Oct 03 2018
Millennials are helping to boost the luxury market worldwide, spending more than older consumers on high-end goods.
Millennials are helping to boost the luxury market worldwide, spending more than older consumers on high-end goods. UBS Group AG’s survey of 18-35-year-olds in the U.S., China, and Europe found they made up 85% of the luxury industry’s growth last year, and by 2025, they’re projected to make up 45% of the total market. According to the same survey and social media analysis, Gucci and Louis Vuitton are Millennials’ favorite luxury brands. (Ypulse data shows that logos are back: 43% of 13-36-year-olds said they like to wear branded apparel.) (Bloomberg)
- Sep 19 2018
From pop-culture to fashion to their homes, iconic art is trending with Millennials—and the brands that want to appeal to them… This June, the internet went wild over Beyoncé and Jay Z’s new music video.…
- Sep 14 2018
Porsche wants to rent their luxury cars to Millennials.
Porsche wants to rent their luxury cars to Millennials. Porsche Drive is a service piloting in Atlanta that will rent vehicles for as little as four hours, along with a concierge that delivers the car to drivers’ doors. The luxury car company is also teaming up with digital rental platform Turo for short-term rentals in SF and LA, and for Porsche Host, which will let Turo users take Porsches for a spin on the company’s test track. (Fortune)
- Aug 28 2018
The list of clothing brands that young consumers want to buy more of shows that they aren’t a group lusting after luxury items… Yesterday, we told you some truths about the way young consumers shop—now…
- Jul 30 2018
Dolce & Gabbana’s NYC boutique is becoming an “exclusive invite-only club.” The brand is hosting monthly events that will only let in 100-150 attendees.
Dolce & Gabbana’s NYC boutique is becoming an “exclusive invite-only club.” The brand is hosting monthly events that will only let in 100-150 attendees. Their first featured performances by musical artists, and future events will cover everything from technology to fashion. The store is aiming to “act as a cultural hub and luxury community space,” showing how the experience matters more than the purchase when it comes to in-store shopping today. (The Cut)
- Jul 30 2018
What influencers wear has a direct effect on fashion brands’ web traffic, according to Lyst.
What influencers wear has a direct effect on fashion brands' web traffic, according to Lyst. When Selena Gomez wore a red Vetements tracksuit, searches for the luxury streetwear brand spiked 410%. Meanwhile, one Off White look from Rihanna prompted searches for the brand to rise 370% with the specific blouse she wore garnering over 3,000 views within two days. The trend continues across the industry, showing how important the Influencer Effect is for fashion brands. (Teen Vogue)
- Jul 09 2018
Couture’s clients are getting younger as Millennials buy more than older demos.
Couture’s clients are getting younger as Millennials buy more than older demos. A representative of haute couture house, Maison Rabih Kayrouz, said that “Around 25 percent of our customers are between 20 and 30, with a total of 35 percent below 40,” and he attributes the shift to luxury brands “learning to ‘talk Millennial’” by using digital platforms to educate people on what’s happening behind the scenes. Hearing from designers and seeing inside ateliers makes Millennials appreciate the price tags on couture pieces. (Vogue)
- Jun 15 2018
Luxury hotels are dealing with a barrage of emails from Instagram influencers asking for free stays.
Luxury hotels are dealing with a barrage of emails from Instagram influencers asking for free stays. While a post from an established influencer with a loyal fan base is a good marketing move, it’s hard to determine who’s legitimate. One hotel exec explains that “Everyone with a Facebook these days is an influencer.” “Influencer wannabes” are hurting the business prospects of real influencers and the hotels that would want to collaborate with them. (The Atlantic)