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For decades, global classical fashion houses have been synonymous with timeless elegance and impeccable quality. But in an age of fast fashion and hyper-connected Gen Z consumers, even the most storied brands need to adapt to stay relevant. Here's how these iconic brands are transforming themselves across product, retail, and communication strategies
Product transformation, breathing new life into classics
Gone are the days of rigidly traditional collections. Brands are reimagining their classics for a modern audience. "Luxury is no longer just about quality and craftsmanship," says Luca Solca, luxury goods analyst at Bernstein. Brands are infusing their collections with contemporary streetwear influences. Burberry, for instance, under creative director Riccardo Tisci, has introduced logo tees and sneakers alongside its signature trench coats. Their recent collection with streetwear giant Supreme broke the internet, showcasing iconic Burberry prints on hoodies and puffer jackets.
Similarly, Gucci has embraced gender-fluidity, with its flamboyant suits and androgynous silhouettes resonating with young fashion enthusiasts. Ralph Lauren is another example. CEO Patrice Louvet acknowledges the need for a modern update while preserving the brand's heritage. They've introduced a ‘Polo Ralph Lauren’ line featuring relaxed silhouettes and vintage-inspired pieces, resonating with a younger customer seeking a blend of comfort and timeless style. Similarly, Chanel reinterpreted its signature quilted handbags with bolder colors and funkier embellishments, appealing to a younger clientele who appreciate the brand's legacy with a modern twist.
Retail all about experiences over transactions
Luxury is no longer confined to physical boutiques. Brands are creating seamless online experiences that complement their brick-and-mortar presence. In fact, the rise of e-commerce has forced a rethink of brick-and-mortar stores. Luxury brands are transforming them into immersive experiences. Gucci has been at the forefront of this shift. Their Gucci App allows virtual try-on and exclusive content, blurring the lines between physical and digital shopping.
Chanel has opened interactive museums showcasing its history, while Dior has introduced cafes within its stores, blurring the lines between shopping and socializing. "We are creating destinations, not just stores," says Marie Claire Daveu, chief sustainability officer and head of communications at Kering. Prada, known for its opulent flagship stores, launched a user-friendly e-commerce platform featuring interactive features like 360-degree product views. This caters to a generation comfortable with online shopping and allows them to explore the brand on their terms.
Partnering influencers to make inroads
At the same time, brands are entering the world of social commerce. Gucci partnered TikTok, allowing users to purchase directly through the platform, blurring the lines between browsing and buying. Luxury brands are no longer above leveraging the power of social media. Prada, teamed up with Charli D'Amelio, the queen of TikTok, for a campaign that went viral. "We need to speak the language of Gen Z, and that language is digital-first," says Armando Branchini, CEO of Yoox Net-a-Porter.
Burberry too, is prioritizing social media engagement. Their partnership with TikTok star Khaby Lame on a recent ad campaign exemplifies their understanding of the power of influencer marketing in reaching younger audiences. Chief Marketing Officer John Dolph emphasizes the importance of "meeting customers where they are," a strategy that translates well to platforms like TikTok and Instagram.
Similarly, Valentino, has upped its social media presence with engaging content featuring diverse models and influencers. This resonates with Gen Z, who value authenticity and social consciousness. Additionally, brands are also collaborating with Gen Z celebrities and partnering gaming platforms to reach this digitally native generation on their turf.
Indeed, the road to staying relevant for a generation known for its disruptor spirit is not without challenges. However, by embracing innovation while staying true to their heritage, classic fashion brands are proving that timeless style can co-exist with the ever-evolving trendscape. This fusion is not just about attracting new customers it's about ensuring that the rich history and craftsmanship of these iconic names are passed on to the next generation of fashion enthusiasts.
The Lenzing Group, a frontrunner in wood-based specialty fibers, showcased their pioneering Tencel and Lenzing Ecovero fibers at The Lenzing Conclave in Varanasi on April 26th. This event spotlighted cutting-edge fiber options driving the evolution of the regional traditional wear textile industry.
Varanasi's weaving sector, renowned globally for its Banarasi sarees, stands amid a textile industry renaissance, urging a fusion of tradition with innovation. Lenzing's presentation unveiled a spectrum of sarees crafted using Tencel lyocell fiber, Tencel Luxe filament, and Lenzing Ecovero viscose fiber, blended with popular existing fibers. These advancements promise heightened comfort, enduring softness, and elevated sustainability standards, resonating deeply with the local weaving community.
Avinash Mane, Senior Commercial Director of AMEA & NEA region, Textiles Business, Lenzing Group, expressed gratitude to the Varanasi weaving community for their enthusiastic reception. Mane emphasized Lenzing's commitment to nurturing regional textile industries with innovative solutions, fostering quality, innovation, and sustainability in every saree produced.
The conclave not only stimulated industry discourse but also showcased innovative products and shared inspiring narratives from Varanasi's weaving artisans empowered by Lenzing fibers. Lenzing extends heartfelt appreciation to all attendees for their contribution to the conclave's success, marking a pivotal moment in the traditional wear landscape.
Zac Posen, Gap Inc.'s Executive Vice President & Creative Director, unveiled a stunning custom Gap gown for Oscar Award-Winning actor Da'Vine Joy Randolph at the Met Gala, showcasing Gap's commitment to creativity and cultural influence.
Posen's appointment in February signaled a shift towards cultural curation across Gap Inc.'s brands. The denim gown, inspired by romanticism and historic fashion, pays homage to Gap's heritage while embracing modernity.
Posen's creation features elements reminiscent of 18th-century evening wear, fused with Gap's classic 1969 denim. The gown's bold "international red" lining mirrors San Francisco's Golden Gate Bridge, while its aquatic forms evoke the city's surroundings. Posen's design also draws from literary inspiration, blending heritage with modernity akin to JG Ballard's "The Garden of Time."
For Randolph, the gown symbolizes strength and femininity, aligning with Gap's ethos of celebrating individual style. This collaboration marks Posen's debut project since assuming his new role, underscoring Gap Inc.'s commitment to innovation.
Posen, donning a Banana Republic suit, joined Randolph on the Met Gala red carpet, showcasing Gap Inc.'s diverse portfolio of iconic American brands.
The Republic of Turkey Ministry of Commerce has unveiled its 'Trade Delegation Supports List' for 2024, with a significant inclusion: the ITM 2024 International Textile Machinery Exhibition and Hightex 2024 International Technical Textiles and Nonwoven Exhibition. Both events, slated to take place in Istanbul, have received government endorsement, signaling a boost for Turkey's textile industry.
Scheduled to run from June 4th to 8th at the Tuyap Fair and Congress Center, the ITM 2024 Exhibition promises to be a nexus for textile technology leaders worldwide. Organized in collaboration with Tuyap Tum Fuarcılık Yapım A.Ş., Teknik Fairs Inc., and the Textile Machinery and Accessories Industrialists Association (TEMSAD), the event is poised to showcase cutting-edge innovations in the textile sector over five days.
Spread across an impressive 120,000 square meters and encompassing 13 halls, ITM 2024 and Hightex 2024 have secured their spots on the Ministry of Trade's prestigious support list. This designation will draw trade delegations from a multitude of countries, including Bangladesh, Algeria, Indonesia, and India, among others.
To facilitate the attendance of international delegates, Turkish Consulates and Commercial Attache Offices are streamlining visa applications. Companies eager to engage with the global textile market at ITM 2024 can seek assistance from these offices, ensuring seamless participation in one of the industry's foremost events.
With Turkey's Ministry of Commerce actively backing these exhibitions, ITM 2024 and Hightex 2024 are poised to foster invaluable connections and drive innovation in the international textile landscape.
Femography, a leading B2B apparel manufacturer specializing in feminine health and hygiene solutions, has partnered with GenM, the premier menopause partner for brands, to revolutionize the way menopause is addressed in the fashion industry. As the FemTech arm of MAS Holdings, a major player in South Asia's Apparel Tech scene, Femography is already making waves with its subsidiary, Become Clothing, a Founding Partner of GenM.
Femography's innovative approach spans the entire feminine journey, from menstruation to menopause, offering clothing solutions tailored to women's unseen needs. Through this collaboration, Femography aims to leverage GenM's MTick platform to highlight its menopause-friendly products globally, addressing the increasing demand for inclusivity and clear labeling in women's clothing.
Independent research from GenM underscores the urgency of this partnership, revealing that women feel overlooked and underserved by brands during menopause. GenM's MTick symbolizes a shift in how menopause-friendly products are identified, providing consumers with trust and control. Already endorsed by major retailers like Boots and Tesco, the MTick ensures that only products meeting strict criteria proudly display the symbol.
Femography's commitment to normalizing menopause conversations aligns with GenM's mission to empower women through this transformative stage. CEO Pilar Diaz emphasizes the importance of supporting women through life's phases, while GenM co-founder Heather Jackson praises Femography and MAS Holdings for their pioneering efforts in creating products that cater to women's needs. Together, they aim to drive purposeful change and offer women worldwide greater visibility, choice, and control.
The scaling back of apparel imports by American retailers and brands has caused garment led to a decline in garment exports by Bangladesh to the US over the last few months.
Data from the Office of Textiles and Apparel (OTEXA), a department under the American Commerce Department, shows, garment exports from Bangladesh to the US declined by 17.68 per cent to $1.75 billion in the January-March period of this year. In the preceding January-February period, exports dropped by 19.24 percent to $1.18 billion.
This decline in garment exports to the US has become a trend over recent months. Despite a gradual easing of inflationary pressures and higher garment exports in previous years, American retailers and brands have been importing fewer garments. Combined textiles and apparel (T&A) exports declined by 17.37 per cent to $1.81 billion during the January-March period of the current year.
While retail sales started to pick up during the festive season last year, especially around Christmas, the revival has been slow. Many garment factories in Bangladesh faced prolonged closures due to wage hike movements from September to December last year, disrupting production severely. AK Azad, Managing Director, Ha-Meem Group, highlights, apparel demand has not fully recovered amongst the low-end low-end consumers in the US impacting Bangladesh significantly. Additionally, factors such as high interest rates in US banks, ongoing gas and power crises in the garment industry, and the absence of a deep-sea port in Bangladesh continue to cause delays in shipping goods, affecting manufacturers' ability to fulfill commitments to buyers.
Despite these challenges, retail sales grew at a steady rate during March, notes Mathew Shay, President and CEO, NRF. As inflation for goods stabilises, consumers continue to benefit from a strong labor market and real wage gains, prompting retailers to keep prices low to accommodate budget-conscious consumers.
Marking a substantial rebound from the depths experienced during the COVID-19 pandemic, Index of Consumer Sentiments has reached its highest point since at least March 2019.
Compiled by the Centre for Monitoring Indian Economy (CMIE), the index grew by 5 per cent to 110.9 in April 2024 as compared to April 2019. While rural consumer sentiment reached its highest level since 2019, urban sentiment dipped to a seven-month low. Consumers earning between Rs 1 lakh ($1,198.48) and Rs 2 lakh ($ 2,396.95) annually witnessed an 8.3 per cent increase in consumer sentiment compared to 2019.
However, consumer sentiment for the lowest earners declined by 3.4 per cent in April 2024 compared to April 2019. Similarly, those earning between Rs 2 lakh ($ 2,396.95) and Rs 5 lakh ($ 5,992.38) per annum, as well as those earning Rs 5-10 lakh ($5,992.38 – $11,984.76), experienced dips of 2 per cent and 3 per cent respectively. Earning over Rs 10 lakhs ($11,984.76) annually, the highest income group saw a difference of 12.5 per cent in consumer sentiment. Suggesting cautious optimism, nearly 27.92 per cent of households anticipate improved conditions for their families in the coming year.
Global home textiles firm, Welspun Living has appointed Naiyya Saggi as an independent director with effective from April 25, 2024.
Spanning four years, Saggi's tenure as an independent director will end on April 24, 2028. Renowned as the founder of BabyChakra, Saggi has over 16 years of experience and currently is the Group co-founder and president of the digital-first beauty and personal care conglomerate, The Glamm Group.
A prominent figure in the startup ecosystem, Saggi is also an expert in building contemporary consumer brands, fostering communities, and advocating for women in technology,
Additionally, she serves as a member of The National Taskforce for Regulatory Issues at DPIIT Ministry of Commerce and as an elected Governing Council member of The Tech Entrepreneurs Association of Mumbai. This esteemed association represents the dynamic US$ 50 billion Mumbai tech ecosystem, boasting a membership that includes 50 Unicorn and Soonicorn founders.
Dipali Goenka, CEO and Managing Director, Welspun Living, cities Saggi’s strategic acumen and extensive experience in B2C and e-commerce along with her insights into consumer behavior and digital trends as factors driving Welspun Living's B2C growth strategy forward.
In response to her appointment, Saggi articulated her alignment with Welspun's values and her eagerness to collaborate with the board and management team to spearhead strategic initiatives. She emphasised her commitment to foster sustainable, inclusive growth that integrates profit with purpose.
The Italian textile machinery sector in 2024 has commenced with a mixed bag of outcomes. According to data from ACIMIT – the Association of Italian Textile Machinery Manufacturers – the orders index for the first quarter has stagnated compared to the same period last year, resting at 61.2 points (basis: 2021=100).
The stagnation is attributed to divergent trajectories in domestic and foreign markets. While domestic orders surged by 15 per cent compared to Q1 2023, international orders experienced a 4 per cent decline. Notably, foreign market orders stood at 59.4 points, contrasting with Italy's robust 73.9 points. However, both figures fall short of 2021 levels.
ACIMIT President Marco Salvade remarked on the cautious sentiment prevailing in foreign markets, citing geopolitical uncertainties impacting investment decisions, particularly in key markets like China, Turkey, and India.
Conversely, domestic orders show a slight uptick. Salvade noted a partial recovery from the significant decline witnessed in 2023, although he remains cautious about a definitive reversal. He emphasized the importance of the Transition 5.0 plan in stimulating domestic investment and awaits its implementation to gauge market response. With order backlogs supporting four months of assured production, the sector remains cautiously optimistic amid global uncertainties.
In a pioneering forecast by Shopify, the global ecommerce fashion industry is projected to soar to a trillion dollars this year. Behind this monumental growth lies a significant transformation in luxury fashion, driven by a fusion of sustainability, technology, and personalized experiences.
Sustainability: Redefining luxury
Consumers, more conscientious than ever, are driving a seismic shift towards sustainability in luxury fashion. Reports indicate that over two thirds of shoppers are willing to pay extra for sustainable products, signaling a demand for ethical consumption. This shift extends beyond consumer preferences, with luxury brands increasingly embracing sustainable practices, from materials sourcing to second-hand markets. By prioritizing quality over quantity, luxury labels are pioneering a circular system aimed at reducing waste and prolonging the lifespan of clothing.
Moreover, eco-conscious designs are gaining traction as leading luxury brands incorporate sustainable materials and processes. Consumers are gravitating towards pieces with longevity, prompting designers to infuse collections with meaningful narratives, particularly around environmental initiatives.
According to Amanda McCormick Bacal, a prominent figure at Joor, "The future of luxury is marked by a transformative shift, which utilizes tech with human touch to create deeply resonant, individualized experiences."
Quiet Luxury: Elevating essentials
The trend of 'quiet luxury', characterized by understated elegance and superior quality, is undergoing a renaissance. With a staggering increase in global searches, quiet luxury is evolving into a more sophisticated iteration of everyday chic. Recognizable staples like tailored shirts and sleek denim are being reimagined with innovative textiles and subtle color palettes. High-profile showcases, such as Saint Laurent's Spring/Summer 24 collection, underscore this shift towards refined yet understated fashion.
Amanda McCormick Bacal anticipates that the quiet luxury trend will continue to gain prominence, with a focus on elevating wardrobe essentials into minimalist statement pieces.
Timeless Femininity: A resurgence
In a nostalgic nod to the past, timeless femininity is experiencing a revival, with references to the '50s and '60s dominating runways. Floral motifs, epitomized by roses, adorn garments, injecting a romantic allure into spring/summer collections. Modern bridal aesthetics, characterized by dropped waists and oversized sleeves, transcend traditional wedding attire, resonating with a broader audience.
Luxury fashion is embracing outdoor apparel and athleisure, blurring the lines between functionality and style. Brands like Gucci and Louis Vuitton are spearheading this movement, offering collections suitable for diverse settings, including workwear and evening wear. Athleisure dresses, crafted from stretchy fabrics with sporty details, epitomize the fusion of comfort and style.
Technology's role in luxury
The integration of technology into luxury fashion is becoming increasingly pronounced, with AI-driven solutions revolutionizing the shopping experience. From made-to-measure garments to virtual styling, brands are leveraging technology to offer personalized experiences. AI-powered try-on technologies enable consumers to visualize garments before purchase, while virtual stylists curate tailored recommendations.
Amanda McCormick Bacal emphasizes that technology, coupled with human touch, is driving a transformative shift in luxury fashion.
As the global ecommerce fashion industry surges towards unprecedented heights, the convergence of sustainability, technology, and personalized experiences heralds a new era of luxury defined by conscious consumption and individualized allure.
