Ged Carroll

Category: luxury | 奢華 | 사치 | 贅沢

Over the space of 20 years, luxury changed enormously. The Japanese had been a set of new consumers for luxury, but in terms of numbers they hadn’t eclipsed the US as the biggest market for luxury.

China’s ascent into the WTO (World Trade Organisation) made a lot of business people and politicians a lot richer. China challenged the US in terms of luxury market size. On their rise, Chinese consumers changed a lot in their sophistication as they educated themselves on luxury consumption.

These new consumers picked up new traits such as wine drinking. This also meant that luxury goods became new asset classes as Chinese money looked to acquire only the best. Chinese culture in turn impacted luxury design. Chinese new year became more important than Christmas.

Then there was the second generation money. Young rather than old consumers. Consumers who were looking for something less formal, either because they didn’t wear anything but streetwear or they worked in the creative classes rather than the traditional professions and high finance.

The industry had traditionally avoided rap artists and R&B singers, now Jay Z and Beyonce are the face of Tiffanys and Fendi had collaborated with Rihanna.

They no longer wanted to have to wear a jacket and tie to have afternoon tea at the Mandarin. They took an eclectic look more attuned to the Buffalo Collective than Vogue Italia.

You had hybridisation with the street to create a new category of luxe streetwear in a way that also owes a debt to football casual terrace wear and the pain.

Now you have Zegna badge engineering approach shoes from alpine brand La Sportiva and Prada has done a similar thing with adidas’ iconic Stan Smith tennis shoes. Balenciaga with their Speed Sock looks like a mix between Nike’s flyknit football boots and the Nike Footscape sole.

As I have written elsewhere on this blog:

Luxury has traditionally reflected status. Goods of a superior nature that the ‘wrong sort’ of people would never be able to afford. Luxury then became a symbol that you’d made it. In Asian markets, particularly China, luxury became a tool. People gifted luxury products to make relationships work better. It also signified that you are the kind of successful business person that partners could trust. You started to see factory managers with Gucci man bags and premium golfwear to signal their success. Then when the scions of these business people and figures in authority were adults, luxury has become about premium self expression.

  • Siberian meteor burst + more

    Siberian meteor burst

    I know that there have been 500 people with minor injuries, but  the Siberian meteor burst felt like I was living in a Jerry Bruckheimer film. The best observation I saw about it was in Vice magazine’s email newsletter which asked why so many drivers in Russia had managed to film the asteroid rather than keeping both hands on the wheel? The reason for the multiple recordings of the Siberian meteor burst is driver cams used to help with car accident disputes. The Siberian meteor burst brought back memories of the Tunguska event in 1908 which levelled large swathes of Siberian forest.

    Business

    “Physically Together”: Here’s the Internal YHOO No-Work-From-Home Memo | AllThingsD – I could see a post coming on from Becky McMichael about the benefits of remote working and flexible hours etc etc

    PrivCo | LIVINGSOCIAL $110M Debt Infusion From Existing Investors With Oppressive Terms – I wonder what implications this will have for GroupOn

    Consumer behaviour

    HBO: The Weight of the Nation interesting site on obesity in the US

    Culture

    So there has been extensive character redesigns and different actors will be voicing some of the main protagonists, but I am super-excited that Production I.G are returning with another installment in the Ghost In the Shell series of anime. Arise looks amazing judging by the trailer footage now available on YouTube. More Japan related content can be found here.