Luxury spans many sectors including,fashion , travel, real estate, and nightclubs.- However, the industry is changing: People want more sustainability and faces that are more diverse.
- Insider regularly talks to the young people who are making their mark in luxury and challenging the market.
Luxury is a pretty hard sector to tap into — and even years of notoriety doesn't necessarily mean years of financial stability or economic success. The coronavirus pandemic only heightened many of those issues, as brands and retailers throughout the world have been forced to close or declare bankruptcy.
Even before the pandemic, however, there were calls for a changing of the guard in the luxury sector. People want more sustainability, leaders who are more tech-savvy, faces that are more diverse, and clothes that come with a meaning and a purpose.
Rather than wait around for those currently in charge to change, a new crop of luxury entrepreneurs has popped up, creating the businesses they want to see taking over the sector. These are names and the faces that will come to define and helm the next generation of luxury spending.
Insider has been speaking to the new rising faces in luxury about the future of their respective spaces, touching on topics such as the investment value in high-priced
Millennial entrepreneur Brandon Blackwood shares how $7,000 and Instagram helped him build a handbag empire that's on track to book $30 million in revenue
Brandon Blackwood, 29, is the founder of his eponymous handbag line that went viral last year after making a tote that said: "End Systemic Racism." Since then, other styles of his bag have gone viral and he's launched a spring campaign featuring celebrities and influencers like Ryan Destiny, Normani, and Jaime Xie. So far, the brand booked more than $14 million in revenue this year and is on track to close 2021 with $30 million.
The 24-year old jewelry designer, whose rings have been spotted on Serena Williams and Meghan Markle, uses half her profits to fund female entrepreneurs
Shilpa Yarlagadda, 24, is the cofounder of Shiffon, the fine jewelry brand that invests its proceeds back into female-funded businesses. For the upcoming election, the brand has partnered with Michelle Obama's When We All Vote foundation for limited-edition hoop earrings to represent the hoops women have to go through for basic rights. In an interview with Business Insider, she talks her career journey, the importance of mentorship, and her partnership with Obama.
Inside the world of 'Bling Empire's' Jaime Xie, the tech heiress forging her own path as a fashion influencer
Xie told Insider she had never even seen reality TV before joining the cast of Netflix's hit show "Bling Empire." Now she's one of its standout stars and is best known for her fashion and style. Born in Silicon Valley, she said tech wasn't really her thing, and she's always wanted a career in fashion. Now she's an influencer, jet-setting to Paris and Milan, sporting the hottest ready-to-wear looks. In an interview, she gives Insider a peek at her glamorous life.
Real estate heiress Danielle Naftali, who is just 27, helped convince a mystery buyer to shell out $35 million for an NYC penthouse during the pandemic
Danielle Naftali, 27, is expected to take over her father's real estate company Naftali Group, which develops some of New York City's most luxurious properties. But even she had to start at the reception desk. To Insider she breaks down working her way up and how she helped convince a buyer to shell out over $30 million for an apartment during a pandemic.
Pajama sets are the new 2-piece suit. A millennial brand explains the wild pandemic year when sales spiked 400% .
Husband-wife duo Molly Goddard and Joel Jeffrey are known for their high-end pajama line Desmond & Dempsey, which also saw record growth during the pandemic as people sought to buy more comfortable clothing. To Insider, they talk about the brand's beginnings and how they hope to further capitalize on the billion-dollar markets of both wellness and comfort wear.
Meet the millennial designer and CEO who wants to make comfort clothing the new power dressing
Designer Misha Nonoo thinks comfort clothes will also be part of the new way to power dress. To Insider, she spoke about her career beginnings, her latest collection, and what she thinks the future of sustainable fashion will be in a post-pandemic world.
How fashion's 'patient zero' turned her fight with Covid into a new hygiene and wellness line
After being diagnosed with COVID-19 last year, Nga Nguyen was deemed the fashion industry's "patient zero" as she was the first known case in the world of jet-set high fashion to catch the virus. But she's light at the end of the tunnel. To Insider she talks about her new wellness line, inspired by her run-in with the virus, and shares her expectations on what role hygiene products will play in a post-pandemic world.
How a 28-year-old sold his first jewelry design for $25,000 and within 3 years built an exclusive client roster including Rihanna
Calling in from Paris, Emmanuel Tarpin spoke about his rise in the jewelry industry, how he nabbed two of the industry's top honors, and got Rihanna to fall in love with his work.
How a 22-year-old heiress launched a handbag line and within 3 years landed the Netherlands' Queen Maxima as a fan
At just 22, Marina Raphael has already built a luxury handbag business that counts the Queen of the Netherlands as a fan. In an interview with Business Insider, she spoke about learning Italian, teaching herself design, and her plans to build the next-big-thing in luxury — as well as being a sixth-generation member of the Swarovski crystal dynasty.
Swarovski crystal heiress Marina Raphael explains how she achieved record-breaking sales by selling smaller handbags, donating to charity, and using snail mail to reach customers
Raphael caught up with Insider again in March of this year to talk about how her brand saw record growth during the pandemic. To cope with the time, she changed her marketing strategies and even reduced the size of her handbags as production took a hit due to closures. Still, the brand came out stronger than ever before.
How one millennial CEO built a luxury eyewear brand that's been spotted on everyone from Jeff Bezos to Brad Pitt
Garrett Leight is the founder, CEO, and creative director of Garrett Leight California Optical. His father, Larry, was the founder of the sunglass brand Oliver Peoples. In an interview with Business Insider, Garrett talks about opening his own eyewear brand and keeping his family legacy alive.
Pauline Ducruet isn't so different from other 26-year-old entrepreneurs — she just happens to be Grace Kelly's granddaughter
Pauline Ducruet is the founder of the gender-neutral fashion line, Alter Designs. She also happens to be a granddaughter of Grace Kelly through her mother, Princess Stephanie of Monaco. In an interview with Business Insider, she talks about the importance of sustainability in fashion, and how the pandemic almost wiped out her business.
A millennial car customizer who counts Lebron James and Kendall Jenner among his clients explains why he's expanding his business with a luxury shoe line
Vik Tchalikian is best known as the car customizer for the stars and boasts a client list that includes Kendall Jenner, LeBron James, and Billie Eilish. In an interview with Business Insider, he talks about how he used his car knowledge to start up a luxury shoe line.
Two Gen Zers turned a $2,000 investment into an art gallery that sells $600K pieces. They want to usher in a new generation of art collectors.
Based in France, Alexis de Bernede and Marius Jacob are the founders of Darmo Art gallery. Last summer, their two art shows netted six figures each, and they are now planning future exhibitions in Paris, the French Riviera, and at the Grand Hotel Heiligendamm, an exclusive report in Germany.
Millennial fashion designer Alexandra O'Neill is seeing cocktail dress sales skyrocket as customers prepare for the new Roaring 20s
Alexandra O'Neill is the founder of luxury brand Markarian and made headlines last year after First Lady Jill Biden wore a custom Markarian piece for Inauguration. Since then, the company has seen sales skyrocket. What's more, O'Neill held her first New York Fashion Week presentation in September, showing off a collection inspired by Lauren Bacall in the movie "How to Marry a Millionaire."
Meet the Black millennial art curator who worked on a Zendaya photoshoot, had her portrait featured in Beyoncé's 'Black Is King,' and was just tapped by auction house Christie's to curate an exhibit
The art industry is notoriously white. Enter, Destinee Ross-Sutton, the 24-year-old art curator who already counts a Zendaya photoshoot and a Christie's exhibit under her name. A shining moment for her this year was when she discovered that a painting of her was featured in Beyoncé's "Black IS King." In speaking with Business Insider, Ross-Sutton talks about her mission to increase diversity and inclusion in the art world.
The 28-year-old heir to a luxury publishing house explains how he creates some of the most exclusive — and expensive — private libraries in the world
Alex Assouline is a creative library designer who helps create some of the most exclusive — and expensive — libraries in the world. The heir to his family's publishing house, Assouline also helps make stunning coffee books on subjects ranging from feminism to the palace of Versailles. In an interview with Business Insider, he talks about the art of library designing and which books he is helping to make next.
Meet the 'VIPER Girls,' the female nightlife entrepreneurs who couldn't get a credit card 4 years ago and now field requests to work the Super Bowl
Kelsi Kitchener, 28, and Celeste Duvre, 24, are the cofounders of the guest experience company VIPER, which works with some of the biggest celebrities and brands in the world. Known as the Viper Girls, they manage all points of the overall guest experiences at events. In an interview with Business Insider, Kitchener and Duvre talk about the founding of their company, and being young women in an industry that's long been touted as a "boys club."
A 25-year-old set her eyes on taking over the high-end smoking accessories market — and it's working
Chiara di Carcaci, 25, is the founder of Smoking Jacket, a high-end cigarette accessories company that counts a Getty heiress as a fan. In an interview with Business Insider, di Carcaci talks about why she decided to start a luxury cigarette brand, and her ambitions to expand it into a full-service lifestyle company.
A 28-year-old fashion brand director explains how ruthless attention to detail has landed Rihanna, Kim Kardashian, and Jennifer Lopez as clients
In an exclusive interview with Business Insider, Kyle Bryan, brand director at the luxury label LaQuan Smith, breaks down his plans on helping create the next big American fashion house. "A lot of women and celebrities will directly reach out to LaQuan and say, 'I would love for you to make me something,'" he said. "That's how some of our best stuff has even happened."
Nisha Persaud's side hustle is creating at-home manicure boxes that are beloved by celebs and have been featured in luxury campaigns
When the pandemic made it impossible for Nisha Persaud to get her nails done last year, she created at-home manicure kits to bring the nail salon to her. Since then, she's netted more than $100,000 in revenue and her work has been reposted on social media by Cardi B, received a shoutout by Megan Thee Stallion in a video, and gifted to the model Teyana Taylor for her baby shower.
Meet the millennial cofounders of Apparis, the cult-favorite vegan coat brand that raised $3 million in funding this year and just launched a collaboration with Juicy Couture
Amelie Brick, 37, and Lauren Nouchi, 29, are the cofounders of Apparis, an apparel company best known for its vegan coats. In an interview with Business Insider, they talk about why they decided to start a high-end vegan coat line, how the pandemic led them to expand into homewear, and why they decided to launch a collaboration with Juicy Couture.
Meet the millennial cofounder of a jewelry brand that has partnered with the NFL and NBA and is on track to make $50 million in revenue this year
Christian Johnston is the cofounder of the jewelry brand GLD, beloved by the likes of Justin Bieber and rapper Wiz Khalifa. The company has also done partnerships with the NFL, NBA, MLB, and Disney's Marvel. In an interview with Business Insider, Johnston talks about growing his jewelry company, which is now on track to make $50 million in revenue this year.
Hogoè Kpessou worked as an Uber Eats driver before she launched her handbag brand last year. Now she's on track to net seven figures.
Luxury designer Hogoè Kpessou is best known for her backpacks emblazoned with a gold bumblebee. Before starting her eponymous company, she worked weekend shifts at a local restaurant and delivered food for Uber Eats. Today, she estimates her brand will hit seven figures in revenue in the beginning of 2022.
YIMBY with a conscience: Meet the 26-year-old real-estate heir who wants to make affordable housing a reality in the Biden era
Donahue Peebles III is set to one day take over his father's real estate and development empire, The Peebles Corporation. Speaking to Insider, he talks about his passion for helping make housing more affordable, gives his thoughts on gentrification, and shares his expectations for what's to come under a Biden presidency.
Meet the millennial CEO who wants to redefine the ownership of men's clothing, and convinced Alexis Ohanian and Nas to invest
Regy Perlera is the co-founder of Seasons, an app that allows men to rent designer clothing. He tells Insider that renting clothing is one way to reduce your carbon footprint, and contribute to the circular economy. In 2019, Seasons raised $4.3 million in funding from investors such as Alexis Ohanian's Initialized Capital, Notation Capital, and the rapper Nas.
A millennial entrepreneur who runs a high-end watch retailer explains why now is the time to invest in watches — and which timepieces are the most valuable
Avi Hiaeve, owner of the high-end watch retailer Avi & Co., met with Business Insider earlier this year to talk about his watch business as well as give tips for those looking to start investing in luxury watches. "The celebrities and the artists and all of them, they're not wearing watches under $100,000 anymore, everything they want is over $100,000. It's really gone through the roof," he explained to us.