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What is luxury in 2018?

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“Look, she wears Gucci.”

Traditionally, the concept of luxury has always been about signalling status and obvious wealth, with brands being the engine behind the luxury goods market.

However, fashion has gone through many phases within the last decade, from being a vanity or investment pieces that you pass down to your next generation. Nowadays, for many Millennials like myself, it’s purely an appreciation of original, unique and exquisitely crafted products that tell a great story. Luxury brands have become much more approachable and experimental since the social media era, with Instagram-worthy designs being one of the considerations for many designers before rolling out their collections (salute to the powerful influence of social media).

 

LUXURY CAN BE A $50 LIPSTICK OR A $2,000 HOODIE

This behaviour and mindset are changing with the influence of streetwear reshaping the luxury market for status symbols. With fashion houses like Gucci, Off-White, Balenciaga, Vetements that constantly gather inspirations from underground, subculture and streetwear style, a new point of view has arisen.

Nowadays, brands can often sell non-luxurious products without any damage to their prestige – athletic pieces like sneakers, trainers and hoodies have now topped the most sought-after products from high-end labels*. Millennials nowadays are more willing to spend their money on one unique designer item over 10 similar high street products that have smaller life cycles.

One thing for sure, that luxury can be defined as, without a doubt – the objects (or experiences) of desire.

 

Best, Aki

 

References:
* https://www.refinery29.com/2018/04/197258/most-popular-fashion-2018

One thought on “What is luxury in 2018?”

  1. It is a different game in a lot of ways these days. Personally, I prefer to invest in something well made that I will keep for a long time, instead of perhaps buying a few smaller priced, throwaway items. That said, I still prefer to put my dollars toward traditional luxury purchases- like a handbag than a luxury t-shirt or sneaker etc. I know over time those items will depreciate in value for me because I will either get them dirtier or even get sick of them. A bag on the other hand I know I will keep in as best shape as I can for as long as I can. Even some of my Chloe boots I have had for five years already and they are still going strong. Cosmetics are another place I prefer to invest in. Cheap products often don’t perform in the same way, or have so much filler that I’d rather buy one luxury product that will last a long time than four cheap products that will do a half job. I’ve noticed a shift with my readers to investing in luxury, and quality over quantity too.
    xx Jenelle
    http://www.inspiringwit.com

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