The latest brand name must-haves don’t crack it for today’s luxury consumer. They are putting their money in a far more elusive thing: originality.
It’s a common problem among the 1 per cent: they buy the latest Manolo Blahnik shoe or Chanel bag, and chances are that someone in their circle of friends will have the identical thing.
After all, it s not just the one per cent buying brand name labels any more. As globalisation of the designer brand expands, and wealth continues being created in new markets, it’s a rare person who doesn’t have access to any prestige brand they can afford.
As a result, the smartest and most avant-garde of today s luxury consumer is realising that just because they have the means to buy a certain brand, doesn’t mean they should. Instead, they are putting their money in a far more elusive thing: originality.
Much of the shift in the way people are spending comes in the prized millennial sector, the 16 to 30-year old that is a driving force in technology and fashion, setting the trend for what every other demographic wants.
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