FINN LUXE, FINN Partners’ Global Intelligence and Mintel have released their Luxury Playbook, a report offering insights into the challenges and opportunities across the luxury sector right now. Read on for key takeaways for brands aiming to adapt and thrive in the evolving market landscape, and click here to download the full report.
The luxury segment has traditionally distinguished itself through a singular focus on excellence in quality, design and service. In recent years, consumers have come to resonate increasingly with another type of excellence: cultural creativity. Driven by growing purchasing power across diverse markets and the proliferation of touch points, the appetite for creative excellence presents new opportunities and challenges in branding, storytelling and marketing. The Luxury Playbook provides an overview of these opportunities and challenges for the year to come, with a view to help brands build resilience in the face of growing market headwinds.
Gen Z is gaining influence
Brands increasingly need to cater to Gen Z’s appetite for meaningful experiences and authentic values.
Online takes center stage
By 2030, online and monobrand channels will account for two-thirds of sales.
Chinese consumption soars
By 2030, Chinese consumers are expected to account for 38-40% of the global consumer market.
Pushing Boundaries in Product, Experiences & Values
From fashion to travel, beauty to watches, luxury brands are facing widely different challenges as they grow, enter new markets, or try to adjust to growing economic uncertainties in 2024. Yet they all face a common and growing consumer desire to be surprised, entertained, and to feel good about luxury consumption. This is why we talk of “Creative Resilience”: creativity is no longer an optional (and risky) differentiator, but rather an essential component of luxury brands’ resilience and ability to grow. In this section, we break down key trends and case studies of creative resilience across products, experiences and values.
Product: Diversify your lifestyle relevance
From pop culture IP merchandising deals to brand cross-over collections, customizable lines or brand-new product categories, product diversification increases the overall lifestyle value of luxury brands and can help widen price points—from entry level accessories to ultra luxury, one-of-a-kind products.
Experiences: Balance commerce with culture
While excellent in-store service experience remains paramount, brands increasingly must also be masters of entertainment. And when it comes to rolling out new experiences, originality is the name of the game to inspire new fans while delighting loyal customers.
Values: Do Good Internally, be Aspirational Externally
As champions of quality, design, and storytelling, luxury brands are expected to lead the charge on sustainability and social responsibility. While the most impactful work happens behind the scenes, sharing your values and initiatives with consumers is one more way in which you can build emotional resonance.
Author: Gregory Cole, Senior Partner
Lead Analyst: Joy Livera, Senior Researcher
Spring has sprung, so it’s time to freshen up our wardrobes and prep for sunnier days ahead. Whether you’re looking for pieces to liven up the in-between season, or are ready to go full spring-summer, we rounded up a shopping checklist full of fashion and accessories you’ll want to add to your warm-weather rotation.
Apparel
MAYSON the label Sleeveless Belted Blazer & Pleated Trouser Shorts
The spring suit is here: a sleeveless blazer meets high rise pleated shorts for a playful yet professional vibe.
A cocktail dress fit for spring parties and summer soirees alike.
ANDINE Vivi Provence Stripe Tank & Boxer
Lounge in style in Andine’s premium pieces handmade in the brand’s LA atelier in West Hollywood, CA.
Fanm Mon LORR Latrice Dress
A twist on the brands signature LORR dress, the LORR Latrice features hand-embroidery and a removable strap, made-to-order by artisans from their Turkey based atelier.
A colorful new coat makes it much easier to take just a few more weeks of chilly weather.
LaDouble J Playa Maxi Dress Chunky Diamond
The perfect spring-to-summer look for staycations and getaways alike.
With a wide leg and high waist silhouette, The Newman Jeans are the a foundation piece for your spring wardrobe.
Accessories
Misela Nora at Anatolia Bag
One of Misela's signature bags from their made-to-order collection, the Nora at Anatolia in five different with customizable colorways, trims and initials for a personal look.
Calvin Klein Naturals Modern Rectangle Sunglasses
A springtime color palette meets sustainability with these Calvin Klein frames, made with Bio Acetate featuring more than 60% bio-based materials with 50% Tritan™ Renew lenses.
Bachendorf's Diamond Bracelet
A forever favorite: Bachendorf's 18K white gold rhodium plated diamond straight line bracelet with 37 round diamonds.
Kenner Rakka Mezkla
A nod to Rio de Janeiro’s street culture, Rakka Mezkla combines the utility of a sneaker and a sandal, providing advanced arch support while elevating the typical open-shoe format.
Kristin Ohmstede Rings
We love the Pony Signet, Bisous Bunny Ring and Antoinette Bow rings by Kristin Ohmstede, available at Jamie Geller Jewelry and her online shop.
Pianegonda Necklace ASSOLUTO PSON22
This leather and sterling silver piece is perfect to peek through button down blouses or strappy dresses, making every outfit a little more interesting.
A fresh pair of aviators are always in style, and these oversized lenses feel as classic as they do current.
Case-Mate Soap Bubble Beach Tote with Phone Pouch
The beach tote is designed to safeguard your phone with the universal-sized pouch and shield your belongings from unexpected water or sand splashes.
KEEN UNEEK
Now available at KITH stores & online in the esteemed SSENCE online store, the UNEEK promises a comfortable fit made for music festivals and outdoor activities.
Alabaster Industries Silver Core with Rhodolite Garnet
A pop of color to brighten your wrist, and your day, with a sterling silver band, clasp links and case cage with a rhodium and nickel plating.
Marie Monsod Thunderbolt Earrings
Designed by the owner of famed luxury consignment boutique Recess LA, these earrings add a pop of color and style to simple spring looks.
