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The luxury fashion industry is roaring back everywhere but in Europe
- mlex 6y agoThe luxury fashion industry seeing a bounce-back seems like just a small part of the larger clothing industry bouncing back; it feels as though all clothing and apparel shopping should rise again as more people go outside. I know I personally haven't bought much/anything in the past year since I was sitting at home all the time, and normally I do shop for clothes a good amount.
- imwillofficial 6y agoChina seems to be the new hot spot.
- llarsson 6y agoThe article says that before the pandemic, european sales were much dependant on tourists making their purchases in Europe. So it was Chinese and American people buying these items before as well. But before the pandemic, they bought them during a trip to Europe, and now via the web, closer to home.
- mbg721 6y ago...for highly-established, old-world European brands. Is it just that producing luxury goods is something that takes an economy a while to do, or does China make high-status stuff that's just under my radar?
- imwillofficial 6y agoHigh status to whom?
- bobthepanda 6y agoYou need cachet and legacy to signal exclusivity, which is best obtained with time, and even if there were any sort of big Chinese fashion houses they haven’t been around long enough to earn that kind of cred.
- imwillofficial 6y agoThis is the most off base comment I’ve heard in a long time. Turnover in fashion is CONSTANT. Even among the high end brands. You literally picked the most capricious industry to make that argument with? China has taken all of that manufacturing prowess that the world has been pushing on to it, and turned around and made homegrown stuff that matches or surpasses the originals in terms of quality, and now, market popularity. (In China) Pair this with the rising nationalism and middle class in China, and you’ve got a huge up swing in this area. Ref: Chinese model friend (I was super ignorant of all this until recently)
- dillondoyle 6y agoIs there a Chinese brand that is well known/large volume outside asia? The only thing I can maybe think of is Huishan Zhang or maybe angel chen or some niche street ware stuff. but i really doubt any non-fashion person would know that and I had to google 'who was that chinese designer at barneys' couldn't name the brand off top of my head. Not saying there isn't a lot of talent and creativity in China, but there aren't any international luxury fashion houses on the level of a LVMH or Kering brand. Sure brands and trends go in and out of style; Gucci-gang growth which is now slowing or reversing lol. But for those who only care about a purse with a logo and aren't reading WWD or wearing the clothes, 'luxury' brands are pretty set in stone. Seems more opportunity now though for independent brands with Instagram and celeb culture. I love Jacquemus. the purses & shoes drive it for women I think, but again it's tiny compared to LV.
- imwillofficial 6y agoWe are talking about within China, in the context of my comment about China being a new hotspot. And to answer your first question, yes. (Although the traditional luxury brands still get TONS of play. The rising middle class LOVES their brand names.)
- dillondoyle 6y agowhat brand is known outside china? even 1/10th of the brand recognition of a top LVMH brand?
- dillondoyle 6y agoI don't think it's so much about skill or talent. The artists are there. They can obvious make things. It seems more like just exposure and breaking out of Chinese market to get into your/our us & european culture. There are some luxury Chinese fashion brands but like I commented below I don't think any that would be known by anyone who isn't reading WWD or vogue and spending $2k on a trendy dress. I think the scale of their market in country is more than we assume though. Like I remember that Rihana giant pizza fur dress thing. The designer who made it was on some show maybe Vice I can't remember - it was pretty cool she has a huge business making extremely lavishly large furs that aren't really worn in 'the west' anymore, very much a Chinese cultural niche. https://www.theguardian.com/fashion/2017/oct/18/guo-pei-chinese-designer-who-made-rihanna-omelette-dress https://www.theguardian.com/fashion/2017/oct/18/guo-pei-chin...
- quantumsequoia 6y agoThere is growing nationalist sentiment in China which is resulting in increased status of domestic brands among Chinese consumers and reduced status of foreign brands Does China have luxury fashion brands that are high status abroad? Not many
- cromka 6y agoAs an European, I’m gonna guess that it’s likely that the comparatively conscious Europeans had grown even more self-aware of the mortality, the future, the past, and our choices. The ongoing trend of reducing travel, the carbon footprint and the global warming would be inversely proportional to luxury spending, and it probably shows in numbers like these.
- xwolfi 6y agoLuxury spending is made to satisfy a very deep human need: show off purported wealth, possibly like animal dances before mating. So, the carbon footprint and global warming, while interesting problems, won't exactly supercede mating parades in humans. Possibly instead, europeans lost a lot more money in the crisis, dont want to mate anymore, or stores are closed. I doubt, as a European myself, that fringe political consideration mattered when choosing between a Vuitton and a chinese handbag. Possibly, the Vuitton had a smaller footprint.
- qnsi 6y agosecond hand has way smaller footprint. Also your take about signaling wealth is hilarious. Do you think reasonally educated women would prefer a guy with luxurious clothes? For me and my network that would be obnoxious. There is also counter signalling which you can read about. It explains why billionaires in Sillicon Valley wear H&M t-shirts and not L&V
- tim333 6y agoIn my experience women are surprisingly influenced by what clothes a guy wears. I've had a couple of women say to me that they are puzzled themselves as to why they are attracted to guys who dress well/cool in ways that don't really make logical sense.
- murukesh_s 6y agowhen in the modern history attraction made logical sense? i thought attraction was a measure of physical/mental fitness when such traits mattered (pre-cavemen) for hunting and raising kids.
- TheButlerian 6y agoThe Europoors cannot afford them.
- poloopolo 6y agoThey are too poor, plus who are they going to impress all holed up in their houses (sorry, studios)
- Guest42 6y agoOut of curiosity, do you have numbers or specific insights on this? Whenever I’ve looked at European wages and costs of living it seemed as though not many would have access to the resources necessary for luxury goods, from my cursory levels of research.
- bijant 6y agoThat’s the point of luxury goods in Europe. They are not payed out of wages but out of your (inherited) fortune.
- arthur_sav 6y agoFYI most luxury brands come from EU and in particular France. We just tend to not eat our own bullshit, luxury clothing is for dumb people with money.
- uzakov 6y ago> luxury clothing is for dumb people with money. Follow HN guidelines please
- arthur_sav 6y agoGet a life
- poloopolo 6y agoYeah, you might rationalize it that way but the fact remains for the avg European those brands are pretty solidly out of reach. No one said there was no one who can afford them.
- torgian 6y agoEh. While I "get" luxury brands, I feel like it's always the name and not the product. I'd rather spend a couple thousand US on a completely tailored suit with shoes than three thousand on an overcoat from Dior. Leather goods are the same. Real leather goods from small shops for a few hundred US instead of thousands.
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- FDSGSG 6y agoDior doesn't make their money from the overcoats. You'll have a hard time finding competitive handbags or sneakers outside of similar luxury brands.
- Cyril_HN 6y agoIt's mid-season and plenty of Europe is still in some sort of lockdown. I expect it to pick up again by summer, especially if tourism comes back to life. Although, I believe people may wait to feel a little more secure in their future before they start to spend. There is a fear that winter will see yet another lockdown (despite vaccines). Until that dear subsides, spending may well be subdued.
- FDSGSG 6y agoYeah, because all the rich people fled London and Switzerland, spending the first quarter of the year in Dubai, Maldives or Tulum. Of course sales are down when everyone who could afford it has been spending their time anywhere but Europe.