They demand privacy and discretion, so they have access to private luxury designer lounges and by-invitation-only events offering a premium shopping experience. The ultra-wealthy seek out exclusive items unavailable to the general public, spending millions annually on their preferred high-end brands and retailers.

Although the super-rich shopper only makes up 2% of total customers, they drive about 40% of luxury retail sales. 

Related story: Sustainable fashion festival hosts the longest catwalk

Tourists purchasing luxury goods represent a significant portion of the industry’s luxury sales, often taking advantage of favourable conversion rates and tax exemptions. 

As global travel is expected to surpass pre-pandemic levels in 2024, luxury boutiques such as Louis Vuitton, Dior, Gucci, and Omega located in the Fairmont Vancouver Hotel will continue to attract destination-focused shoppers.

After the pandemic, discretionary spending has significantly increased. Especially on luxury goods and travel, as more people choose to enjoy life rather than die rich.

Jewelry

The super-rich are now buying more jewelry as it is very personalized. They invest in jewelry for a sense of permanence and long-term value. Unlike soft goods, jewelry holds its value over time and is a lasting investment.

Tiffany has been making once-in-a-lifetime acquisitions in the rarest of stones to appeal to ultra-rich buyers. Last year, CEO Anthony Ledru announced that Tiffany’s high jewelry business had grown by 300% since being acquired by LVMH in 2021.

Private Super-Rich shopping

During the COVID-19 pandemic, several high-end brands in Canada and the USA began offering private shopping experiences to their customers. This trend is now gaining popularity across the globe, especially in Asia.

Luxury brands offer private shopping suites for wealthy clients to enjoy exclusive shopping and dining.

Engaging with customers in this way can lead to increased spending and foster one-on-one relationships with customers, encouraging them to return.

Ultra-rich are time-poor

The wealthy have plenty of money to buy luxury goods, but the real challenge is to get time with them.

Today, anyone can book luxury vacations and Michelin-starred dining experiences online. So, luxury brands and retailers offer unique experiences even their money cannot buy to build personal relationships.

Dolce & Gabbana recently held a private fashion event for its top clients in their connecting villas high above Portofino, Italy. As their clients’ yachts were moored in the bay below, the week-long Couture fashion show was open to less than 100 invites. 

You will not find any images online of their audience as they were required to surrender their phones and cameras, guaranteeing total privacy. For the wealthy, a simple lunch is not enough.

Emotional experiences

When selling luxury, creating emotional experiences that establish a positive relationship with clients is important. Super-rich shopping events are exclusive and take place in unique locations.

Today, luxury retail emphasizes emotional connection, offering exclusive in-store experiences that many can only dream of.

It’s no wonder why so many people dream of indulging in this world of luxury.

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Elegant and enveloping, they have the ability to transform your look into a sophisticated ensemble, regardless if you are into t-shirts and jeans. 

Visit your favourite European designer boutique downtown Vancouver and you will find luxury fall coats that touches the ankle and come in natural fibres such as wool, cashmere, and mohair plus offer a variety of styles and silhouettes. 

Fendi’s fall collection offers pale rosette pink and cream-coloured coats with their iconic logo on pocket trim.

Chanel continues with its iconic tweed and surprised us with a gold leather coats to brighten fall days.

Valentino presented daring black and white checkered style coats, perfect for getting back into the lounge scene.

Related story: Discover Laowai, a hidden lounge in Vancouver’s Chinatown

Max Mara continues with their classic camel tones and natural fibers that will keep you warm for your fall social calendar.

The final touch is with your accessories and many designers did away with grey tones.

For fall, accessorize with bright colours

This season, Versace, Prada and Gucci have introduced us to scarlet orange, lemon yellow, and pink.

So, consider a brightly colored scarf, handbag or shoes to brighten up your look this fall.

As we reconnect with family and friends, luxury fall coats bring back elegance and warmth we rightly deserve. 

The post Luxury fall coats are long, elegant and cozy appeared first on styledrama.

I’m not suggesting that luxury runway shows will cease entirely. Fashion shows are still critical for brands to showcase their fashion storytelling live to customers and media. The digital world will never replace live performances, may it be fashion, theatre or sports.

Nonetheless, the COVID-19 pandemic effectively cancelled the haute fashion calendar this spring. Production halted, fashion shows were aborted and boutiques were closed. This pause reportedly resulted in a letter, instigated by Dries Van Noten, calling on the industry to tear up the traditional fashion week calendar to promote a more sustainable schedule in order to protect creativity and ensure profitability.

Above photo: Evaro Italia at Vancouver Fashion Week Spring Summer 2020. | Photo: Simon Lau

Gucci’s creative director Alessandro Michele recently announced that the storied house will cut its number of annual fashion shows from five – cruise, spring – summer, capsule, pre-fall, fall-winter – to two. Michele’s goal is to reduce waste by offering seasonless clothing as he believes the garments he produces for Gucci should have a longer life than just a few months.

The designers calling for a more sustainable fashion paradigm are at the forefront of a movement. You can expect future fashion shows to combine men’s and women’s collections and to include items for both warm and cold climates with layer pieces for seasons in between. In short, fewer shows and less product.

Recently, designer capsule collections have all been “show now, buy now” and that too will be part of the new formula going forward.

The tradition of showcasing designer collections six months before each corresponding season has allowed fast fashion to steal profits – and designs – from designers which resulted in mass discounting, devaluing their brands. With “show now, buy now”, fast fashion retailers, such as Zara, can still replicate designer clothes in three weeks but the six-month sales advantage that they had in the past will be eliminated. 

While it seems European luxury fashion brands are committed to change, it remains to be seen if consumers will choose to pay higher designer prices rather than the cheaper fast fashion options. However, as I have detailed in the past, consumers too are looking to more sustainable options for their wardrobes.

COVID-19 has allowed European luxury designers to rethink fashion week shows making a change for sustainability. But, if we want to make a real difference over the long term, consumers will need to embrace quality over quantity. 

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I began observing the rise of Champion as a fashion trend for young people several years ago. Currently owned by Hanes Brands, Inc., Champion began as basic gym wear but is now anything but.

Combining the luxury fashion logo craze with the throwback street style favoured by American teens and young adults, Champion’s resurgence is powered by youth. 

The silhouette is still loose but the brand is now offering seasonal colors, floral prints for women, cut-off sweatshirts and larger-than-life logos. The line is promoted on social media by Rihanna and the Kardashians making the re-energized Champion retro-cool for all generations.

As Champion turns 100, it now has a narrative that attracts luxury-minded consumers who appreciate long histories and classic logos. Fila, a sporting goods brand from Italy, and American sportswear giant Russell Athletic are also gaining popularity with millennials, proving that everything old is truly new again.

While the main label can be found on the racks at Neiman Marcus and London department store Selfridges – not to mention most campus college bookstores which usually sell standard grey hoodies for $50 USD – Champion is experimenting with some more high-end projects.

Sold on Mr. Porter, Champion’s recent collaboration with American fashion designer Todd Snyder, offering limited edition pieces at a mere $300 USD, has truly propelled the brand into the luxury fashion stratosphere.

Recently Champion opened their first standalone store in Los Angeles, a natural choice given its status as a centre of sports, arts and culture as well as its association with skateboarding, hip hop and youth. This location was followed by shops in New York, Boston and Chicago.

Back in the 90’s, Champion was a key part of the uniform of every jock, skateboarder and soccer player in North America. Now, with a new makeover, it’s once again a sign of style and street cred for hip-hop heads, fashion fans and A-list celebrities.

With one hundred years behind it, Champion is decidedly cool again. Only this time around, that classic logo now comes with a luxury cachet. 

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For the past two years, European designer runway collections have been taking their inspiration from 80s fashion. Remember those white tube socks worn with sandals? How about neon yellow, Hawaiian shirts and big curly permed hair? Even though many of us would like to forgot the trends of that decade, designers are mining it for fashion gems.

Bumbags

The return of the fanny pack (or as the British loving call them “bumbags” – they seem to have a thing about their posteriors) is the result of an upscale reinvention with designer fabrics and hardware and price tags to match.

Gucci calls them “belt bags” and produces luxurious quilted leather versions in bright blue and fuchsia finished with flowery embroidery and a gold logo. Louis Vuitton, meanwhile, offers up canvas or metallic “hip bags” in their classic monogram print. Given the extravagance of these high-end pieces, the humble origins of the fanny pack may come as a bit of a surprise.

Commonly referred to as buffalo bags or pouches, one of the earliest known uses of the fanny pack was by First Nations peoples in North America who wore a variation of a belt with a satchel attached.

Later, during the 15th & 16th centuries, as pockets had not yet been invented, Europeans wore small pouches tied around their waists in which they kept their valuables.

Yes, Dads

Ski patrol members in the 1960s wore fanny packs as first aid kits which popularized them with the outdoor adventure crowd. But it wasn’t until the 80’s that fanny packs became streetwear. Whether rollerblading, hiking or simply heading to the grocery store, many Dads would wear a fanny pack whenever they left the house. Yes – your Dads were ahead of the fashion curve by about 40 years.

At the turn of the century, hipsters made them a fashion staple at outdoor music festivals and nighttime raves. Today, Bella Hadid and Selena Gomez are just a few of the big A-list names swaggering around town with their bum bags and sporting the newest designer fanny packs in their instagram feeds.

Street Style

On our streets, fashionable women are wearing them cross-body with the pouch on their chest or under their shoulder.

For men, it’s definitely all about the Rambo look with larger pouches with the capacity to hold a bottle of scotch worn across the body rather than around the waist.

As the luxury designers price their modern fanny packs at up to US$1500, they are less expensive than their handbags which may be the reason that, this summer, demand has outpaced supply. Louis Vuitton boutiques now have a waiting list for their belt bags and you can bet it’s not suburban dads lining up to buy these up-market versions. It’s the fashionable set and their adherents.

The 80s fashion looks have returned. You have been forewarned.

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