The luxury that makes you fall in love

An attractive market for major fashion brands.

The fashion industry worldwide has multiple market segments. Luxury is one of them. The term has various definitions and approaches, but to understand it better we can take as a basis the description given by the Royal Spanish Academy:

High category, excellence or exquisiteness that something possesses due to the quality of the raw materials used in its manufacture, its high performance or services.

That said, the fashion industry considers luxury items to be those that have been created with the highest quality, meticulous processes, finely finished materials or even when these have artisanal processes that combine decades of experience (for example, also knowledge and skills of specialists who work with different techniques for renowned global firms).

Names like Dior, Hermès, Gucci, Louis Vuitton, Prada, Balenciaga and Valentino top the list of this type of brands that cannot go unnoticed by buyers with these interests.

Design, of course, also plays an important role in building what is understood as a luxury brand.

Over the years, this has led these types of firms to generate narratives around their products; inspiring campaigns, alliances with personalities from the entertainment industry or celebrities related (directly or indirectly) to the world of style, as well as spectacular physical stores, new understandings in the form of digital marketing and even unique experiences in their windows.

On the other hand, exclusivity is an important term to understand the new forms of luxury (in other words, it is not all about the cost of a product, but about the story it tells and the few units that may exist, making it even more desirable).

This dynamic has gained greater acceptance in one specific region over the past decade: Asia. Territories including China, India, Japan and South Korea are linked to powerful lifestyle and beauty purchases.

The awakening of this interest has allowed the strengthening of European fashion brands, as well as the creation of their own firms that provide the distinction desired by this niche.

Aspects such as digitalization, innovation, as well as economic expansion have fostered the growth of Asian countries in this regard.

Yes, an opportunity for the fashion industry globally.