As befits Spring this week’s stories of note centre around the idea of ‘The New’ – new ideas, new markets, new technologies.
We look at how 3D printing challenges some aspects of luxury yet, equally complements its innovative nature. As disruptive technologies continue to emerge and challenge previously held assumptions, the result is a reconsideration of our preconceptions of luxury- at the recent London event ‘Is Luxury History?’ new definitions were discussed and defined. Finally, move over BRIC as new research uncovers 5 new luxury markets drawing the attention of luxury brands.
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Fashion’s Collective – How will 3D Printing Change the Luxury Landscape?
The rapid advances in 3D printing technology coupled with the decreasing cost of equipment (printers can now be bought for around $2-3,000) has assured its position as the latest industry hot topic. Compared by some as having the potential to revolutionise our experience of the world as the internet once did, 3D printing has major implications for all brands, mainstream and luxury.
At first glance, 3D printing and luxury may seem like uneasy bedfellows, after all, some of the defining characteristics of luxury e.g. craftsmanship and artisanal manufacture seem directly at odds with a method that centres on instant, ‘home-made’ production. Is it possible for both elements to co-exist and work together? Exploring the tantalising possibilities are Continuum who describe themselves as part-fashion brand, part-experimental laboratory. Having already produced wearable items including shoes and a dress they reveal a glimpse of the driving force 3D printing could play in the luxury fashion industry of the future.
Luxury has always been closely related to innovation and the opportunity for 3D printing to provide bespoke, customisation of a product gives brands the chance to leverage this in order to provide clients with a truly unique experience. Read more…
Ledbury Research – The Top 5 Emerging Luxury Markets
The hunt for new and emerging luxury markets continues. According to a new report by industry experts Ledbury Research the top 5 growing luxury markets are; Jordan, Panama, Ghana, Dominican Republic and Saudi Arabia. Findings have been based on criteria including appetite for luxury goods and taking into account factors such as business air travel, luxury retail and economic growth.
Awarded the number one spot, Jordan boasts the presence of a variety of core luxury brand stores including a newly opened Louis Vuitton in addition to already established Cartier, Burberry and Bulgari. Another interesting noteworthy point is the move away from Asia as an area of high activity. Nicola Ko from Ledbury notes that there’s been a ‘big shift’ toward Africa, the Middle East as well as South America. Read more…
Luxury Society – New Expectations of Luxury
Whilst the nature of luxury itself may not have changed, our relationship to it may well be undergoing a transformation. This was one of topics for discussion raised by co-author of ‘The Luxury Strategy’ Jean-Noël Kapferer at the ‘Is Luxury History?’ event.
According to Kapferer the influence of digital and social communications has brought about a shift in attitudes regarding the accessibility of luxury brands. Expectations have changed partly as a consequence of economic, political and technological freedoms that have given people a chance to feel they too have the right to access luxury. Kapferer states ‘the new luxury is not about being accessible – it remains inaccessible – but it has become a source of enjoyment and exception for more and more people’.