Friday, April 2, 2010
High Minded
With the new year comes a new state of luxury
By Jennifer Brough
March 31, 2010  |
Is this what it means to be in recovery? Are we in the throes of a major paradigm shift that will affect the way we spend for the next decade? Or are we slyly awaiting a return to a perceived norm and, in essence, the “ok” to return to our bad behaviors?
This year would have the makings of a fascinating study in consumer behavior if we weren’t all playing a starring role in these more realistic times. Only a few years ago, we aspired to living well beyond our means and not really caring so much how our behavior affected our own lives, let alone the country’s outlook.
NEW WORLD ORDER
It didn’t take long, however, to wake up to the new world order. Living with dour statistics sobers a nation quickly: foreclosures, unemployment rates, lack of consumer confidence and credit card debt included. In comparison, what was defined as the luxury market had been somewhat insulated through 2008. But 2009 and beyond has been a different story, one of redefining how we view this targeted population.
Opportunity does exist with the true luxury consumer. It’s simply a matter of recognizing that the pool of luxury consumers has diminished—or, some might argue, was overinflated from the beginning. Generally, statistics suggest that 20 percent of U.S. households have incomes of at least $100,000. According to a January 2010 Forbes.com blog post, there are currently 225,000 Americans worth more than $10 million. If they represent the true luxury consumer, then we are looking at approximately 0.01 percent of the population.
A different mindset exists for each. First, the Earnest Affluents—or that 0.01 percent of the population—appreciate true luxury and can afford it, albeit more discriminately these days. For them, excess is out and stealthy spending is in. Carrying a brand-emblazoned shopping bag is no longer the epitome of status. Quality is. Yes, they will continue to spend money, but decisions are made with more consideration and they look to marketers and manufacturers to answer the question, “Why should I spend?”
The second group, the Offluents, are made up of that 20 percent of the population who exhausted themselves by trying to keep up with the authentic luxury lifestyle. Their new mindset involves the internal need-versus-desire debate. If the answer to the question, “Do I need it?” is “no,” likely the item will return to its shelf or remain on a wish list. As a result, frugality is in. Instead of consumers feeling self-conscious about their new shopping habits, bargaining, coupon clipping and consignment shopping have become bragging points. In addition, the values of the Greatest Generation, or those born prior to 1946, are now prized: discipline when it comes to finances and saving for retirement.
TALK THE TALK
The word “luxury” has been used to define many things. As we know, it’s been overextended. What’s in and out for brand-speak?
Out In
Luxury Authenticity
Decadent Discretion
Exquisite Quality
Lavish Sensitive
Extravagance Dependable
Glamour Exclusive
Flash Subtle
True luxury brands have remained above the fray, as their brand messaging and company legacy still hold appeal for the wealthiest percentage of the population. Those who have embraced the new vocabulary also find themselves in a good position as tenets like authenticity, quality and dependability are valued. In the future, luxury goods will be marketed to the Earnest Affluents exclusively, or those who can afford the investment.
SMALL, SMART & HANDSOME
Even design trends have followed suit, with smaller, smarter and handsome homes becoming more enticing for both the Earnest Affluents, as well as the Offluents. While less is needed to fill these more petite homes, the quality of goods has not been lowered. These well-appointed spaces equal singularly chic environments—meaning money saved on energy, for example, may be redistributed elsewhere in the home. Form, function and detail are paramount, along with thoughtful customization to utilize every inch smartly.
Finally, we ask ourselves if we did indeed learn our lesson. Industry experts encourage authentic luxury brands to step up and embrace what has made them special: substance over style and quality over consumption. The angst in consumers’ desire to find balance continues, however, as a new attitude toward the elusive business of being happy evolves. As a nation, we sometimes embrace change slowly, which is why some question whether our frugality is a short-term fix or a long-term attitude.
— Jennifer Brough is a trend tracker at White Good & Co.
Tuesday, February 16, 2010
CELEBS AS FASHION DESIGNERS?
Recently, WWD reported news that Madonna may be designing her own clothing line. Other celebs who have claimed to be designers include Nicole Ritchie, Sarah Jessica Parker, Paris Hilton, Jessica Simpson, JLo, Elizabeth Hurley, Reba McIntyre, and just today, Kim Kardasian showed her line for Bebe at Fashion week in NYC. Sheree from The Real Housewives of Atlanta staged her She by Sheree show at New York Fashion Week last season.
Bebe/Kardashian line is collaboration of designs by the three sisters Kim, Khloe, and Kourtney Kardashian.
As NY Mag states, "with more and more celebrities and fauxlebrities designing clothing lines, and with more and more people taking them seriously, we can only expect the sham shows to proliferate."
According to InStyle online, "'We wanted to show us being voluptuous, sexy women. We took a little from each of our personal styles,' Kardashian (in a hooded leather corset dress from the collection) said of the inspiration."Does the celebrity status as "designer" lessen or tarnish the reputation of the designer in the fashion industry, who spends years in school or interning to learn the design process, ultimately possessing the skills necessary? Or are we so enamored by the celebrity that we validate them as designers?
There was a time when an unknown like Ralph Lauren could claim to be a designer, although knowing nothing of garment construction. But, the competitiveness of the industry sent thousands into fashion schools to learn and perfect their talents. Each year, thousands of designers fail, leaving the select few who have been deemed worthy of patronage.
The celebrity has taken over the job of cover model for most major magazines, reducing the need for paying high fees to the models, instead, they are paid to the celeb. So, if the celebrity is taking over the "role" of designer (only in name, as celebs really don't design, they have product designers who create for them under licensed contracts with big name manufacturers), what is left for the real designers and aspiring designers?
Can the fashion industry sustain this? Is this really good for "fashion?"
Monday, February 15, 2010
Women's Fall 2010 Inspirations - Fashion and Design News and Trends - WWD.com
Women's Fall 2010 Inspirations - Fashion and Design News and Trends - WWD.com
An eclectic mix of inspirations influence the design collections for women's wear designers for FALL 2010.
From old Hollywood glamour to the modern sixties, designers reveal what inspired their collections.
NEWS:
According to today's WWD, Madonna is negotiating a contemporary women's collection with a group of licensees that would be sold exclusively by Macy's. The collections will include apparel, accessories, intimate apparel and footwear, under potential labels like Material Girl for the apparel collections and Truth or Dare for the lingerie and intimates.
Blogging Project Runway ~: Finale Collection - Seth Aaron Henderson
Blogging Project Runway ~: Finale Collection - Seth Aaron Henderson
Seth's collection--- a little McQueen influence?
Blogging Project Runway ~: Finale Collection - Janeane Marie Ceccanti
Blogging Project Runway ~: Finale Collection - Janeane Marie Ceccanti
See Jeneane Marie's entire collection
Blogging Project Runway - The Original Project Runway Fan Blog: Season 7 Finale Collections
Blogging Project Runway - The Original Project Runway Fan Blog: Season 7 Finale Collections
Season 7 Finale Collections
10 Project Runway Season 7 designers showed their 10-piece collections at Mercedes-Benz Fashion Week on Friday, February 12 at Bryant Park.
Saturday, September 26, 2009
MEET THE FASHION INDUSTRY INSIDERS!
On Friday, October 2, 2009, the insiders from the world of fashion will converge on Delta College in Stockton to share their insights into the fashion business, offer tips to get started in the business and succeed in the industry!
On Friday, October 2, 2009, the insiders from the world of fashion will converge on Delta College in Stockton to share their insights into the fashion business, offer tips to get started in the business and succeed in the industry!
The event is being held on the Delta College Campus
from 3:00 - 5:00 pm
in Danner Hall
on Friday, October 2, 2009
THIS EVENT IS FREE AND OPEN TO THE PUBLIC
ENJOY GOURMET REFRESHMENTS AND NETWORKING OPPORTUNITIES
WHILE YOU LEARN ABOUT THE INDUSTRY FROM THE EXPERTS!
http://www.deltacollege.edu/div/fcs/MEETTHEFASHIONINDUSTRYINSIDERS.htm
HEY FASHIONISTAS... Check out the special screening of the movie, "Valentino, The Last Emperor." On Saturday, October 3, 2009, Matt Tyrnauer, the film maker and Ted Alexander, one of the producers on the film, are coming to Warren Atherton Auditorium on the Delta College campus in Stockton for an open Q & A fillowing this specially hosted screening!
Don't miss it...
http://www.deltacollege.edu/div/fcs/VALENTINOMOVIEANDEVENT.htm
Don't miss it...
http://www.deltacollege.edu/div/fcs/VALENTINOMOVIEANDEVENT.htm
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