Many brands abandon Twitter: where do fashion refugees go?

Record inflation, supply chain disruptions, headwinds from China’s zero-Covid policy and the war in Ukraine are sending several global markets spinning towards recession. Will luxury be immune? Apparel and footwear companies are getting squeezed between rising supply chain costs and falling consumer confidence. To cope with inflationary pressures and protect their margins, brands and retailers may need an approach that includes action on pricing, merchandising, and supply chains. In addition, consumer habits are changing, and many of whom claim that cheapness is the main reason for choosing what to buy. Another factor that is becoming increasingly popular, as a driving reason, is sustainability. These are the reasons why second-hand fashion is a growing market that could grow by 20% and above. The second-hand fashion and luxury market is estimated to be worth $100-120 billion, three times more than it was three years ago. A quarter of an average consumer’s wardrobe is now second-hand. But it is above all Gen-Z that is shaping culture and moving the fashion economy. Gen-Z is much more pragmatic, growing up under the lens of technology from the outset. The worsening climate crisis, pressing global movements such as “Me Too” and “Black Lives Matter” and the Covid-19 pandemic all serve as a backdrop for the current age — an age of realism. 

2022 December, 2nd update

Many brands abandon Twitter: where do fashion refugees go? Balenciaga, del gruppo Kering, è stato il primo ad abbandonare Twitter dopo che la piattaforma è stata acquistata da Elon Musk, diventando il primo marchio di moda a chiudere il proprio profilo social. Molti l’hanno seguito con la motivazione che le nuove linee guida adottate da Musk allenterebbero il controllo sulla moderazione all’interno del sito: una “fogna di odio e bigottismo”, ha riferito la modella Gigi Hadid a BoF. Molti si trasferiscono su altre piattaforme, scrive Vogue Business, tra le quali spicca Mastodon, descritta da nssmag. come open source indipendente dalle big tech, senza pubblicità e vive grazie alle donazioni degli utenti. (Read more)

2022 November, 18th update

Luxury brands need to rethink their approach for a generation of shoppers who are more frugal and less willing to spend to look. As rising inflation and interest rates dent disposable income, Charlie Porter re-evaluates his habit of buying high-end fashion, writes the @FinancialTimes. It is the reflection of an impoverished fashion enthusiast during this period of “deep economic crisis” who begins to think positively about the value of old shoes and old clothes. It’s about extending their life cycle and ensuring that things that can be reused don’t end up in landfills. [It’s time to rethink our approach to luxury fashion – FT]. (Read more)

2022 October, 28th update

Resale driving consumer purchasing habits. With an estimated value of between $100 and $120 billion worldwide, the second-hand market for clothing, footwear, and accessories has nearly tripled in size since 2020 and shows no signs of slowing down. This is the report “What an Accelerating Secondhand Market Means for Fashion Brands and Retailers,” the third in a series of collaborations between BCG and Vestiaire Collective, a global platform active in the United States, Europe and Asia. (Read more)

2022 October, 10th update

Half of the luxury brands that exist today are likely not to survive by 2030. Brands must offer best-in-class performance or risk becoming obsolete for Gen Z. @JingDaily recent research findings report: “one in two luxury customers is likely to change their favorite brand in the next two years.” @drlanger (Équité Research) estimates that up to 50% of luxury brands existing today will not survive by 2030. A mass exodus of brands is on the horizon. [Will Gen Z Break Up With Your Luxury Brand?  – JD]. (Read more)

2022 October, 3rd update

Drop Culture that spreads scarcity anxiety and creates speculation. Writes the @WSJ that in more and more sectors the strategy of selling a product with limited availability for a short period of time is spreading.  With this model, products come out – or are dropped, hence the definition “drop culture” – suddenly and in a limited edition.  The speculative possibilities have made the fortune of many sneaker collectors and brands, approaching the drop to the sector of NFT digital certificates.  [ Companies Used to Announce Products.  Now They ‘drop’ them.  – WSJ]. (Read more)

2022 September, 13th update

Fashion and influencer. Luxury brands are turning to influencers who do not have obvious links with fashion. Social media creators who have built authentic communities can add value-laden credibility. [The business of influence: New voices force a fashion marketing rethink – Vogue]. (Read more)

2022 August, 2nd update

Fashion and culture: a relationship to be rebuilt in the current context of “creative chaos”. Fashion and culture have a centuries-old relationship, but one that could probably benefit from a revision. Particularly because the post-George Floyd era ushered in a necessary demand for a cultural sensitivity that had previously been lacking in too many. [Fashion Brands Need a Cultural Transformation, and Collabs Aren’t the Cure-All – WWD]. (Read more)

2022 July, 27th update

Leather goods report. BoF Insights’ latest report, “The New Era of Designer Bags: Redefining Leather Goods” on designer bags and small leather goods, covers key changes in competition, including what, why, and how consumers shop in the U.S. and China. (Read more)

2022 July, 7th update

Export record of Türkiye’s clothing-footwear and accessories sector. Ready-to-wear and apparel in Türkiye broke its export record, totaling $8.8 billion between January and May, according to a report cited by Daily Sabah.  Land exports of leather goods and leather products from Türkiye in the first 3 months increased by 27% compared to the same period of the previous year and reached 503 million dollars, breaking all export records, si law on Fotoshoe. The evolution began in 2021, when  digital sales increased a lot. (Read more)

2022 June, 23rd update

Luxury Footwear Global Market Report 2022. announces the publication of the “Luxury Footwear Global Market Report 2022“. The global luxury footwear market is expected to grow from $24.37 billion in 2021 to $25.78 billion in 2022 with a compound annual growth rate (CAGR) of 5.8%. The market is expected to grow to $32.48 billion in 2026 at a compound annual growth rate (CAGR) of 5.9%. (Read more)

2022 May, 24th update

If until a few years ago the sneaker could be considered a niche shoe, in the last period its explosion has transformed it into a real gold mine. The resale of sneakers is creating new markets and services. The growth in the digital ecosystem of sneakers suggests new opportunities. The sneaker category goes digital in both the primary and resale markets. “From resell to NFT, when a shoe is worth more than gold”, writes Alessandro Ranieri in “It’s time to invest in sneakers” on NSS magazine. (Read more)

2022 May, 4th update

Global high heels footwear market to rise 1.35% annually. The global market for high heel shoes is expected to increase by an annual average of 1.35 percent between 2021 and 2025, representing an accumulated gain of $1.70 billion over the period, according to a report published by the research and advisory company Technavio. (Read more)

2022 April, 27th update

Iranian fashion brands replace Western brands in Russia, according to a Press TV report. Western clothing and footwear brands are now expected to be replaced with Iranian ones in the Russian market within three years as Moscow faces increasing Western sanctions over the war in Ukraine. However, there are a number of organizational issues that need to be resolved first, the report says. (Read more)

2022 March, 29th update

Dior threw fashion as a means of survival, launching Paris Fashion Week in full swing with a lineup of home classics, reworked with technical preferences, associated with the Dainese logo, the famous motorcycle suit of the 1970s: “haute couture” combined with the technology of air-bags, conductive runways and D-Air Lab sensors. (Read more)