Does Luxury Have A Future?

Hi Wonderful Friend!

Big announcement below but first, exactly who is shopping luxury brands right now?

Is it the Baby Boomers? Flaunting their fat 401k’s and vacation-home-weight around? No.

Is it Generation X? Rolling their eyes as they drop thousands on the latest tiny “it” bag? No.

Then it must be the Millennials! Surely they are the majority of shoppers flooding the flagship stores after they visit Home Depot to pick up some caulking for their newly purchased home? Right? No.

Friends, the generation most dedicated to luxury shopping is the 18 to 25 year old GEN Z consumer! Yes, those most likely to be unable to afford the luxury market are its’ biggest fans.

So how does this work? Is it just for the GRAM? Is their social media status dependent on designer goods? Yes, it’s a major factor, however, something else comes into play as well.

I had the pleasure of meeting Haley Prokuda this week, a student at Northwood University, Accelerated Master’s Degree Candidate in Fashion Marketing and Management, who so insightfully said, luxury goods to Gen Z are a “PRIZE FOR HARD WORK”.

She explained how Gen Z understands the quality, creativity and craftsmanship involved in producing an exceptional product and the feeling of owning them is status but also a desired achievement to themselves.

The iconic French luxury house, Dior, is banking on their interest. Today, Dior is opening a 10,000 square meter (108,000 square feet!) flagship “experience” in Paris. The word store doesn’t quite cover this extravaganza.

Brilliantly housed in the hotel where Christian Dior debuted his iconic December 15, 1946 collection-which introduced the “New Look” and changed women’s fashion forever-this “experience” includes every conceivable lifestyle category you may need. Gowns, track pants, home, fragrance, baby, heels, sneakers, bags, make up, men’s, women’s, probably pets, luggage….the list goes on!

With THREE gardens, a GALLERY, one to die-for-restaurant and a patisserie you may never leave. And why would you? It’s like they will submerge you in an idealized designer life experience. Imagine the selfie opportunities? They most likely won’t have to spend a dime on advertising. Gen Z will do it for them!

So, my friends, luxury is not dead. It survived the pandemic and has a solid road ahead.

With a cult-like allegiance from the young and IG and Tick-Tock not going anywhere soon, luxury will keep pushing the envelope and we will all be watching and wanting to achieve a piece of it for ourselves.

So where would you like to start your designed life experience? See the ps for your first step.

Enjoy!

XO

Holly

ps- Big announcement! I am now booking at-home Wardrobe Consultations! I haven’t said this in two years…I am now ready to come to your home and work with you on your wardrobe to mix and match what works, get rid of what doesn’t and select pieces to update your look. This is a post-Covid must have. You will end up with at least FIVE NEW LOOKS and know how you want to be seen in this big global start-over we are all experiencing. Skip the anxiety and take this opportunity to feel even better than you did before about what you wear and how you look. We’ll talk hair and make up, a complete head to toe experience. Just hit reply to this email and write, “Tell me more!” and I’ll send you all the deets! And, if in-person is not your thing quite yet, I am also offering Virtual Shopping. Do they same and I’ll tell you more too!