By 2025, 70% of luxury consumers will be aged below 40, forcing labels to revise their approach and values, broadening them to include more culture-based elements, according to the latest study by Bain & Co.
D’Arpizio, an analyst and luxury specialist at Bain & Co., explains to FashionNetwork.com how new generations of consumers are changing the rules of the luxury market’s game, forcing the industry to adapt.
There were many warnings and they seem to be coming true. When the UK ended the tax-free shopping perk for tourists, it was feared international tourists would shun Britain. A new survey suggests they’re doing that.
The Dublin, California-based off-price fashion retailer announced on Thursday that its executive vice president and chief financial officer, Travis Marquette, has resigned from his role effectively immediately.
The stock market is bullish, the economy is recovering, consumer confidence is growing: all indicators are positive, fuelling luxury purchases on a North American market that is highly dynamic and promising for labels.
A new report from fashion marketplace app Depop highlights the values behind Gen Z’s shopping behavior, revealing that members of this community are conscious consumers, eager to express their individuality.
The fashion subscription service has announced that Lake will be transitioning from her role as CEO to that of executive chairperson of the board. She will be succeeded at the helm of the business by Elizabeth Spaulding.