The world is facing a new turn of events. Something that was never supposed to happen in modern times is still happening, turning the world and the entire functioning upside down. This primarily refers to the economy and the industries impacted by the pandemic caused by the COVID-19 virus.
Fashion has been one of the industries that have been impacted by these changes. The first wave of restrictions put a key to the store's doors, leaving them closed for almost three months. Fashion was not something people were thinking back then. But when the first three months passed and the stores began to open, the will, desire, and love for fashion returned to people.
This impact was not seen only with the smaller companies and the big fashion retailers that supply a large percentage of the consumer market. The luxury fashion area was also impacted and is suffers enormous losses, something that was genuinely unseen.
As a term, luxury means something extraordinary, unique, expensive. It comes from how certain fashion garment is manufactured, created, and designed, putting a significant accent on the craftsmanship and fabric's quality. Since the earliest time, the term luxury has been present, displaying only accessible and acceptable to the higher classes and people. The term still holds the same meaning, mainly referring to those who have the means and the budget to be a part of the luxury fashion world.
2020 was a year that put a strain on luxury fashion. Since everything became switched towards online sales, the beauty and the meaning of the term luxury started slowly to fade away. People, expectedly, did not show much interest in buying luxurious fashion garments and accessories when they were forced to stay home. The lack of socialization, the closure of the restaurants, bars, no travels trips, and closed borders were more than enough to put this high-end fashion direction way behind.
However, at the beginning of 2021, hopefully, things will start to look brighter. The consumer spending pattern, although shifted to online shopping, is slowly getting back to normal. The Christmas and the New year holidays are the right time for each fashion lover to treat themselves to a long-desired and wanted luxury fashion piece.
Few types of research have shown that luxury fashion is not dead. On the contrary, people have become more aware and appreciative of the term luxury, looking to add some classic and all-time favorite pieces to their collections. :
Luxury fashion is becoming more inclusive
Acceptance, diversity, and inclusivity have been hot topics, not only as political or social issues but also in the fashion industry. Luxury fashion in the past years lacked these approached and neglected these critical issues. However, the new ear brought more significant awareness, and luxury fashion has slowly become more diverse and inclusive.
The category sales are changing
As mentioned above, during the first wave of COVID-19, people were not thinking about buying luxury fashion goods. However, the spending pattern and the desire for high-end fashion garments slowly starts to regain their popularity. With a special nod to digital and online shopping, the brands make their comeback through online sales. There's also been a shift to designers pushing loungewear styles, with Ugg's making a huge comeback.
Increased demand for sustainability
Consumer demand has always been the driving idea behind a successful and profitable company, especially in the luxury god fashion. With the change of events, consumers are now looking more for sustainability and want it included in luxury fashion. With that, profitable luxury brands have to rethink and redesign their entire creative and manufacturing chain to ensure environmentally and ethically sourced goods. This step requires looking for materials locally, reducing the carbon footprint, providing more support for the communities, and supporting animal rights.
New, quieter style of luxury
tightly connected to the classic luxury pieces, the new era brings a fresh look at luxury. The so-called "quieter" style will feature and offer more subtle, unique, and elegant pieces without too many accessories, embellishments, and details. The luxury here will come in full shine, as it was many years ago.
Luxury goods such as clothes, footwear, and leather goods are in the best position to make a quick comeback in the new era. Despite the first three months of the pandemic's beginning, these garments and pieces' sales have remained relatively healthy, which points directly to the consumers' awareness and will to keep up their regular luxury fashion routine.
Whether it is the old era or the new era, luxury will never go out of style. The good, fashionable, and chic style and outfit best describe the need for luxury goods. LARISA has all of that and much more to offer. The new luxury era is a particular time and a new challenge to improve. It rises even bigger and more popular on the luxury fashion scene and caters to those who genuinely love and appreciate the luxury concept.