Analyzing Trends Luxury Ready to Wear · 2014. 2. 10. · research online before making a pur-chase...
Transcript of Analyzing Trends Luxury Ready to Wear · 2014. 2. 10. · research online before making a pur-chase...
Analyzing TrendsLuxury Ready to Wear
Hillary Frazer
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
OverviewLuxury Ready to Wear: The middle ground between couture custom garments and off the rack clothing.
Key Players: Chanel, Balenciaga, Saint Laurent, Prada, Louis Vuitton, Gucci, Dior
What it used to be: garments made of the highest quality materials, customers wore head to toe runway looks
What is is now: mix of high quality mate-rials and much lesser quality, branding, more for editorial purposes
Chanel SS14 Look 58
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Force: Economy$317 Billion - the volume luxury goods sales are expected to surpass worldwide this year, +3% from last year (WWD)
In times of economic contraction, the ul-tra wealthy still consume freely, yet it is the borderline aspirational customer that contracts their consumption of luxury goods (The Economist)
The Economist
The Economist
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Force: TechnologyUnited States61% - Share of luxury goods buyers who research online before making a pur-chase (WWD)
3D Printing
More methods to shop - via mobile de-vice, online, tablet, and traditional in store model
Wearable technology
Iris van Herpen Voltage Collection
Example: Iris van Herpen creates dresss-es for her couture collection with the use of a 3D printer
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Force: GlobalizationAccessibility and visibility - globalization increases these factors
Outsourcing and location of production
Designers used to have a more clear sense of who they were designing for, now since everything is global, that dis-tinction is much less defined
Customer base is worldwide
Suno SS14 Look 11
Example: New contemporary luxury de-signer Suno utilizes production in Kenya and uses Kenyan textiles and patterns
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
“Consumers want experiences — memorable events. Yes, people still go shopping and buy goods and services, but unless retailers surround the purchasing of their merchan-dise with an engaging experience, consumers will treat them as commodities to be bought at the lowest possible
price and the greatest possible convenience.”
Joseph Pine, author of “The Experience Economy”
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
HypothesisI hypothesize that in order for luxury ready-to-wear to survive, brands need to: institute authenticity within their products, create a relevant narrative, and implement innovation into their designs.
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Codes
logos
brand awareness
vanityself aware
luxury knowledge
wealth
superiority
exclusivity
confidence
experiential
Consumers want to be “in-the-know” with a brand
There has been a recent lack of confidence with
luxury brandsThe experience is crucial
in luxury ready to wear
quality
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Trend: Trans-media
Fashion films that are not explicitly about fashion or the brand*Recent films: Salvatore Ferragamo “Walking Stories”, Rodarte “This Must Be the Only Fantasy”
It’s about the narrative that the brand creates
Telling the history of the brand in a non promotional way
Expansive reach through unconvention-al digital channels
Rodarte “This Must Be the Only Fantasy”
Salvatore Ferragamo “Walking Stories”
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
InsightsThe significance for the viewer is with the discovery of the film
The films are collaborative with industry professionals. Fusing art, fashion, music, film, and technology
Having the knowledge of the film gives you credibility
People want more than just the product, they want to feel a part of the brand and the brand’s narrative“The Future of Flesh” by Luke Gilford, wardrobe
provided by Prada FW13 collection
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Trend: High-lowMore commom to see women pairing luxury shoes, handbags, and accessories with more af-forable clothing items
Designer diffusion lines for mass retailers
Emphasis on accessibility of items celebrities are wearing
Example: Rent the Runway allows customers to rent luxury clothing pieces for a short period of time
Consumers are finding similar qualities to luxury ready to wear as they are in much lower priced brands
Example: honest by. Muriee clothes are made in Germany and use vegan and organic fabrics
Muriee Knitwear via Honest by.
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
InsightsLuxury is now attainable, you can own certain pieces and feel like you’re “in” with the luxury class
The barrier to entry is much lower than before, and it makes us question: what does luxury mean today?
Example: Jessica Alba (left) pairs a $2950 Saint Laurent bag with $129 Isabel Ma-rant pour H&M pants
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Trend: ImmediacySince fast fashion retailers can copy the luxury designs with less lead times, cus-tomers want that same instant gratifica-tion
Moda Operandi revolutionized with their trunkshows and allowing customers to order looks straight off the runway
Balmain for Moda Operandi
The fashion calendar is constant and fast paced, customers want to grab the latest product
Heirarchy created through the need for immediate products, those who have and those who have not
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
InsightsCustomers want luxury fashion as quickly as they can obtain fast fashion
It’s about being the first person to have the new item
The immediacy trend is in response to the traditional long lead time approach to luxury fashion
Influenced by technology which is very immediate, thus immediacy is wanted in fashion as well
Moschino for Moda Operandi
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Subculture: Modern Day Peasants
This culture invests in hand made pieces, that have zero waste and are concerned with craft and heritage
Knowledge of process and creation of the clothes
It’s the anti brand and logo luxury
While the clothes look peasantry, Modern Day Peasants also farm their own fruits and vegeta-bles, and are engrossed in artisinal culture
Example: Designer Alabama Chanin (coat pic-tured right, $2,880) uses sustainable business practices, organic fabrics, and the clothes are made in the USA
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Trend OpportunitiesLocalizing of design in prevelent and emerging markets
Implementation of technology within the customer experience and the clothing it-self
Creation of a secret network of people in which the brand designs capsule col-lections for each season that are only available to those in the network
Production in small batches, a return to exclusivity
Christian Dior SS14 Look 33
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Client Profile
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Client Profile
Chloe
Founded in 1952 by Gabby Aghion and Jacques Lenior
Pioneered luxury ready to wear
Known for easy dressing, an effortless look, and a 1970s aesthetic
Current head designer: Clare Waight Keller
Past designers: Karl Lagerfeld, Stella Mc-Cartney, Pheobe Philo
Chloe FW13 Look 28
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
Trend Actions Creation of a higher priced subdivision fo-cused on craft and quality
Produce basics and wardrobe staples with the highest quality care and keep in stores year round
Establish a network of customers who are only able to order certain pieces, these pieces will not be available for the general public
Pare down on logos and marketing - a return to confidence for the brand
Since Chloe was the pioneer in luxury ready to wear, return to the brnad heritage and the historical significance of Chloe
Chloe PS14 Look 28
Hillary Frazer l Analyzing Trends Fall 2013 l Luxury Ready to Wear l Chloe
The Future Of
Luxury Ready to Wear
EXPERIENTIAL EXCLUSIVEWhether luxury ready to wear will be expe-riential through the in store expereience, or through technology within the clothes, con-nectivity between product and experience
will become more prevelent
Luxury ready to wear will have a return to more exclusivity and less brand boasting, it will
become more private and reined in
ADAPTIVETechnology is going to continue to influence luxury ready to wear, as well as other forces. Luxury ready to wear needs to be adaptive
to the changing times to remain relevent.
NOVELLuxury ready to wear pieces need to be novel, yet timeless. In the future, the customer wants to invest in the piece but does not want
it to be too expected.