The new modern luxury roars freedom, flexibility, and eccentricity. The collaboration of stylish streetwear with luxury brands, genderless approach, quirky brand images and the flair of uniqueness rattles the traditions. As our planet moves towards positive partnerships and collaborative sentiments to create flourishing communities, the luxury style is powered by acceptance, inclusion, affiliation, and sustainability.
Undeniably the luxury lifestyle is being emblazoned by street art & fashion, sportswear brands, social and political uncertainties, technology and personal sentiments. The acceptance of this cultural shift, influenced by emerging designers that have been brought up by the influence of Hip Hop and Rap culture and conspicuously merge authenticity with creativity is apparent throughout luxury brands. At the same time, the majority of growth in this particular market is driven by the change in wealth distribution and the shift in consumption of luxury goods by affluent millennials. As for the luxury industry, it’s attempt to be relevant and represent this mindset demands adventurous creativity and savvy business approach.
The zeitgeist of our times values unexpected collaborations and distance itself from flying solo. This particular trend has been successful to motivate the affluent millennials. To engage and consume the intangible image created by luxury life and style is about seduction to the extent that the sense of belonging and acceptance in this particular community is not an option but essential. This idea might appear two-dimensional; however, the underpinning notion of blurring the hierarchy lines between different brands in its way is the language of progress and social inclusion. Distancing from the old styles and introducing fresh attitudes bring brand awareness to a diverse audience.
In 2017, Louis Vuitton’s collaboration with Supreme is undeniably an endorsement of inclusion. Supreme has all the elements of a valuable affiliation due to it’s young demographic, genderless designs and limited editions. Consumers from different realms of taste, behaviours and dress codes where brought together by their shared interest in fashion honouring their differences. Together the two brands created a tribal affiliation and an exclusivity hype resulting in a sold-out experience.
Another good example is the collaboration between the luxury fashion house Gucci and Spanish artist Ignasi Monreal. For the past few years, Gucci has appealed and secured an affiliation to millennials thanks to their design evolution and remarkable online presence. Their narrative illustrates mythical and surreal universes and underlines quality and uniqueness of their brand. The combination is Super Cool!
Having social-conscious values and adopting responsible environmental practices add the desirability quality to the luxury brands. They need to take a principled stand to gain favour among the millennials, the growing segment of the premium consumer market. Cultural diversity, labor practices, philanthropy or environmentally conscious lifestyles foster respect among the customers.
For instance, delving into luxury hotels, the ultra-exclusive Nekupe Sporting Resort & Retreat, built by the American Nicaragua Fund, is an innovative way that offers high-end luxury experience. The ANF, founded by Alfredo and Theresa Pellas, a wealthy family that believes in creating opportunities, self-sufficiency, and dignity for the poorest sectors of the population through the partnership model. They have reforested their 1,300 acres by planting more than 14,000 trees, hoping to restore natural habitat, increase local employment and their income. The ANF has contributed to well being of villages by building homes, creating access to health care, education and water management solutions. An Eco-Friendly resort that offers luxury experience with a clear conscious.
Last but not least, enabling consumers to live a lifestyle true to themselves and being responsible towards community are the pillars of a brand’s authenticity. Successful representation of the authentic perception of your core values to technology savvy consumers involves meaningful digital narratives as well as offering instant gratification through mobile and e-commerce.