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It took something surprisingly small — something that's been described as "teeny tiny" and "ultra-cropped" — to propel <keyword id="19948011" type="General" weightage="100" keywordseo="Prada" source="keywords" meta.keywordsubtype="org" meta.entityname="Prada" meta.hostid="261" meta.entityid="Prada">Prada</keyword> to its place as one of the year's few luxury winners. In fact, it measures under 10 inches long. <keyword id="20885719" type="General" weightage="20" keywordseo="Miu-Miu" source="keywords" meta.keywordsubtype="org" meta.entityname="Miu Miu" meta.hostid="261" meta.entityid="Miu Miu">Miu Miu</keyword>'s micro miniskirt, which debuted in 2021 and subsequently went viral, taking over both TikTok and magazine front covers, is emblematic of the brand's show-stopping couple of years — and has no doubt helped its parent company, Prada, do what few luxury companies have been able to do this year: grow. "I think the 'miracle' at Prada is Miu Miu," Luca Solca, a senior analyst at Bernstein, told Business Insider. Thanks to <a target="_blank" href="https://www.businessinsider.com/miu-miu-revenue-jumps-93-gen-z-asia-sales-prada-2024-7">Miu Miu's hot streak</a>, as well as a series of smart business moves at Prada itself — a focus on a controlled retail pipeline and store productivity, plus some experienced new hires — the company is <a target="_blank" href="https://www.businessinsider.com/zara-inditex-pandora-thrive-amid-luxury-downturn-aspirational-consumer-trends-2024-9">bucking negative luxury trends</a>. It's selling well in Asia, its stock is up, and investors are excited. Net revenue for the first half of the year was 14% higher than in the same period in 2023 and 34% more than 2022. At luxury bellwethers LVMH and Kering, first-half sales fell 1% and 11%, respectively, compared to last year.Its stock is up more than 30% year-to-date, even more than that of <a target="_blank" href="https://www.businessinsider.com/hermes-became-ultimate-status-symbol-2024-2">Hermès, luxury's perennial market leader</a>. Along with Moncler, it's one of only two buy-rated luxury stocks at HSBC. The 111-year-old, family-run, Milanese leather goods shop turned cutting-edge fashion superhouse is now enjoying one of its greatest runs in history. <h2>The trendy little sister</h2>As any elder sibling knows well, sometimes the flashy, fun younger sister can outshine even the most well-prepared eldest. Miu Miu is doing just that. The more experimental brand has become the "It" girl of the fashion industry. It's number two on The Lyst Fashion Index, a quarterly measure of the hottest fashion brands. Searches for Miu Miu are up 47% this year on luxury resale platform The RealReal. The micro minis that stormed the runway in 2021, a sneaker collab with New Balance, and the quilted Wander bags have become must-have looks. That's translated into impressive results: <keyword id="19957111" type="General" weightage="20" keywordseo="retail-sales" source="keywords">Retail sales</keyword> were up 50% in 2023 and 86% in the first half of this year. Last quarter, website traffic was up 110% year over year, Stifel's Rogerio Fujimori reported in his July note. The brand will likely hit $1 billion in revenue this year. <div type="image" title="Miu Miu micro miniskirt" height="3109" width="4663" msid="113815737" hostid="261"></div>Part of it is the brand's messaging. "Miu Miu is resonating with consumers because of a savvy mix of product and communication marketing," Solca said. In a recent note, he highlighted the brand's events — a tennis club, literary club, and film series — that go beyond just fashion to form a "cultural aesthetic." Miu Miu has embraced stars (Sydney Sweeney and Gigi Hadid were featured in recent campaigns), which has energized its following. The brand has also managed to tap into Asian markets — one of the <a target="_blank" href="https://www.businessinsider.com/china-luxury-retail-sales-slowdown-brands-fashion-2024-7">most challenging sectors for luxury brands</a>. Again, some smart marketing has helped. The brand enlisted K-pop icons as ambassadors and dressed Chinese stars Lexie Liu, Zhao Jinmai, and Wu Yanshu. It also increased spending on Little Red Book, a social media platform in China, and threw events in Tokyo, Taipei, and Nanjing. In short — pun intended — you can't get trendier than Miu Miu right now, and being trendy is good for business. <h2>The business behind the boom</h2>But Miu Miu's popularity, as attention-grabbing as it is, is only part of the story. The brand accounted for 15% of Prada's sales last year. HSBC analysts called its growth a "(big) cherry on the cake" — the cake being Prada (which didn't respond to a request for comment from Business Insider for this story). Behind Miu Miu's Mary Jane shoes and Arcade bags is a success story at its parent company. The group's namesake line is growing, albeit at a slower and steadier pace. Prada's retail sales were up 3% in the first half of the year compared to last year and 7% in 2023. It's been among Lyst's top five hottest brands since 2022. This didn't happen by accident: In 2017, Prada committed to a turnaround strategy following a few losing yearsand a drop in profitability. At more than 100 years old, Prada hadn't entered the new millennium: Its full product line wasn't available through e-commerce, and its advertising wasn't digitized. "In 2015, the tide really turned for them," Jelena Sokolova, a senior analyst for Morningstar, told Business Insider. "They fared worse than the industry: Sales were negative for a number of years; their earnings plummeted." In response, Prada focused on retail, a channel in which it can control prices and cut back on wholesale, which now represents only 11% of sales. It made an effort to cut down on discounts — a problem that has <a target="_blank" href="https://www.businessinsider.com/how-burberry-became-fashions-biggest-fail-stock-drop-ceo-ousting-2024-8">plagued labels like Burberry</a> and Gucci and can lead to diminishing brand perception. At its retail stores, new CEO Andrea Guerra, who arrived in 2023 from LVMH, has drilled down on productivity, or how much money each square foot of retail space generates, by launching in-store installations, forming one-to-one relationships between sales associates and customers, and infusing stores with wearable pieces and collaborations. The company closed stores that weren't performing and renovated the ones that were. It's worked: Retail productivity has increased 32.5% between 2019 and 2023. <div type="image" title="Prada store" height="3333" width="5000" msid="113815742" hostid="261"></div>There has also been a slew of management changes. In 2020, the company brought on Raf Simons, heralded as one of the biggest stars in the design world, as co-creative director, sharing the title with Muccia Prada — the company's billionaire heiress who The New York Times has <a target="_blank" href="https://www.nytimes.com/2023/10/04/style/miu-miu-chanel-louis-vuitton-paris-fashion-week.html">referred</a> to as "the most influential woman in fashion." Prada now has more time to use her keen sense of design at Miu Miu. In the years following, it recruited talent from LVMH and Goldman Sachs to join its top ranks. And then there is the sheer cyclicality of fashion and the fact that, after a few years of being less-than-hot, Prada is once again on the rise. It has embraced the 1990s and Y2K aesthetic — a heyday for Prada — popular with Gen Z and was the most searched brand among the demographic on The RealReal. Hit products pushed the profitable leather goods category to revenues of more than $2 billion last year. There was a reimagining of the early 2010s it-bag, the Galleria, complete with a Scarlett Johansson-led campaign. Other handbag rereleases, like that of the Nylon, have taken off, while new purse styles like the Buckle and Arqué got callouts in last year's earnings report. That momentum gave the brand an upper hand going into the luxury downturn. "People prioritize which brands they want to spend on. With a limited budget, first, you drop the ones that were not hot to begin with," Sokolova said. <h2>Can Prada's hot streak last?</h2>Just as fashion comes in, it can come out. And Prada's story — particularly Miu Miu's rapid-fire growth — in some ways mimics that of <a target="_blank" href="https://www.businessinsider.com/gucci-sales-profit-reputation-falling-luxury-kering-michele-china-2024-5">Gucci's hype-driven rise and plummeting fall under Alessandro Michele</a>. "You kind of become a victim of your own success," Sokolova said. Both Prada and Miu Miu are susceptible to volatility, though for different reasons. Miu Miu is still relatively small, meaning its brand identity is not yet established enough to withstand the whims of consumers. CEO Guerra has acknowledged that such incredible growth can lead to a challenge. "There appears to be a glass ceiling," Solca wrote in a recent note. "Being prominent brings fatigue: after a while, consumers feel they have seen and done enough with these brands and move on." Prada, meanwhile, is more exposed in the cyclical ready-to-wear category — which makes up 32% of sales — than other brands like Gucci and YSL. But there are signs of continued growth: Miu Miu is adding 10 to 15 stores next year, while Prada is adding five to 10, the company has said. The brand's retail footprint is particularly underpenetrated in the US. The company's beauty business is still nascent. Last year, it launched skincare and makeup through a partnership with L'Oréal, and there is more money to be made in that sector. With so much control of its sales chain, the company can raise prices and limit overexposure through low-end collaborations or expansion into cheap categories. Plus, the slowdown hasn't happened yet: Miu Miu website traffic and sales continued to grow between the first and second quarters, and the company maintains it's not a flash in the pan. "This is a result of many years of work on the brand, on the products, on the people," Guerra said about Miu Miu's success on the company's most recent earnings call. Meanwhile, <a target="_blank" href="https://www.businessinsider.com/prada-white-tank-top-status-symbol-2024-2">Prada has maintained its brand value</a>. But the woman Miuccia Prada herself knows the pressure is on. "I was very nervous for this show," she told reporters backstage at the line's fashion show earlier this month about the new collection, <a target="_blank" href="https://www.nytimes.com/2024/09/20/style/prada-fendi-milan-fashion-week.html">The New York Times reported</a>. "Much more than usual." September 30, 2024 — An earlier version of this story misspelled the name of Miuccia Prada.

How Prada is beating the odds and bucking the luxury slump 

<ul class="summary-list"><li>Taylor Swift sported a $102,590 outfit to support Travis Kelce at his game this weekend.</li><li>Her quiet-luxury ensemble included a Versace blazer, matching skirt, and Victoria's Secret corset.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/taylor-swifts-most-daring-looks-sheer-outfits-2021-11">Taylor Swift</a> has scored another <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-football-outfits-are-huge-for-fashion-brands-2024-2">fashion touchdown</a>.The 34-year-old superstar supported her boyfriend, Travis Kelce, with a visit to Arrowhead Stadium on Sunday, and she wore one of her <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-chiefs-game-outfits-ranked-2024-11">best gameday outfits</a> to date for the occasion.Her expensive ensemble mixed high- and low-fashion pieces, including a <a target="_blank" class="" href="https://www.versace.com/us/en/tweed-masculine-blazer/1016709-1A12270_AA2_40_2RB80__.html">$3,350</a> tweed <a target="_blank" class="" href="https://www.versace.com/us/en/tweed-masculine-blazer/1016709-1A12270_AA2_40_2RB80__.html">Versace blazer</a>, a matching <a target="_blank" class="" href="https://www.versace.com/us/en/women/clothing/skirts/tweed-mini-skirt/1017311-1A12270_2RB80.html">$1,695 skirt</a>, and a black <a target="_blank" href="https://affiliate.insider.com?h=de2c341b8e8700bf9d3ed14bf146fd5bcf4c2eddcde51ce541245e9f490b7ef3&amp;postID=673211531153528a7c570c22&amp;postSlug=taylor-swift-chiefs-game-versace-outfit-louis-vuitton-watch-2024-11&amp;site=bi&amp;u=https%3A%2F%2Fwww.victoriassecret.com%2Fus%2Fvs%2Fsleepwear-and-lingerie-catalog%2F5000009920">Victoria's Secret corset</a>, which originally retailed for $100 but is now on clearance for $34.95.<div type="image" title="Taylor Swift visits Arrowhead Stadium on November 10." height="3000" width="2000" msid="115189939" hostid="261" sizebytes="190692"></div>To emphasize the quiet-luxury aesthetic of her red and black outfit, Swift also sported <a target="_blank" href="https://affiliate.insider.com?h=011e5b4a529de3a398fcce0bb0c401d8a900524a573f321be2b01c71a2c3e357&amp;postID=673211531153528a7c570c22&amp;postSlug=taylor-swift-chiefs-game-versace-outfit-louis-vuitton-watch-2024-11&amp;site=bi&amp;u=https%3A%2F%2Fwww.ssense.com%2Fen-us%2Fwomen%2Fproduct%2Fversace%2Fblack-medusa-95-knee-high-boots%2F14790991">$1,990 leather boots</a> and carried a <a target="_blank" class="" href="https://www.versace.com/us/en/women/bags/totes/medusa-95-small-tote-bag-beige/1013169-1A10795_1KD7V.html">$2,190 tote</a>, both from Versace.The Italian fashion house has played a prominent role in Swift's recent fashion history, from designing some of her <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-eras-tour-outfits-ranked-2023-8">Eras Tour bodysuits</a> to creating the black gown she wore at the <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-video-music-awards-outfits-ranked-2023-9">2023 MTV Video Music Awards</a>.<div type="image" title="Taylor Swift at Arrowhead Stadium on November 10." height="3000" width="2000" msid="115189941" hostid="261" sizebytes="232144"></div>The most subtle yet most expensive aspect of Swift's recent outfit was her jewelry.Alongside sparkling diamond studs, Swift wore an $800 pair of David Yurman heart-shaped earrings made from garnet stones.She also wore the brand's $2,400 red-ruby pinky ring, a $32,970 diamond bezel ring from Retrouvai, and a $3,095 rose-gold crossover ring from Effy Jewelry, which is now on sale for $2,166.Swift's thin gold chain necklace and yellow-gold watch, which cost <a target="_blank" href="https://us.louisvuitton.com/eng-us/products/tambour-automatic-40mm-yellow-gold-nvprod4540027v/W1YG10">$54,000</a> and was made by Louis Vuitton, were even less noticeable.Swift has previously used <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-clock-obsession-boosting-business-2024-6">timepieces throughout her work</a>, from Easter eggs in her music videos to coveted merchandise pieces sold on her website.But this outfit marks the first time Swift has entered the world of <a target="_blank" class="" href="https://www.businessinsider.com/watches-smartest-investment-resale-market-rolex-patek-phillipe-piguet-2024-10">luxury watches</a> for fashion.<div type="image" title="Taylor Swift arrives at Arrowhead Stadium on November 10." height="2000" width="3000" msid="115189945" hostid="261" sizebytes="234830"></div>Totaling $102,590 — not including a few unknown jewelry pieces — Swift's latest look is one of <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-most-expensive-fashion-jewelry-worn-this-year-2024-3">the most expensive outfits she's worn</a> all year.Still, she's yet to reach the ranks of her friend Blake Lively. Who could forget when the actor wore nearly <a target="_blank" class="" href="https://www.businessinsider.com/blake-lively-super-bowl-jewelry-worth-nearly-half-a-million-2024-2">half a million dollars worth of jewelry</a> to the Super Bowl?

Taylor Swift mixed high and low fashion brands for her latest $100,000 gameday outfit

<ul class="summary-list"><li>China's thrifty consumers are boosting Asian companies with wallet-friendly offerings.</li><li>Companies like Japan's Saizeriya, Yum China, and Fast Retailing have recently reported strong sales.</li></ul>China's consumers are tightening up their belts, but not everyone's a loser. Some companies are riding the frugal wave.Saizeriya, a restaurant chain from Japan — a country well familiar with a prolonged downturn — is one company making bank from China's downturn.In its fiscal year that ended August 31, <a target="_blank" class="" href="https://www.saizeriya.co.jp/PDF/irpdf001505.pdf">Saizeriya</a>, which serves Italian food at budget prices in several Asian countries, reported operating profit nearly doubled from a year ago to 14.8 billion Japanese yen, or $99.6 million.Hideharu Matsutani, the company's president, said at a Wednesday press conference that operating profit from its China operations "rose significantly," per <a target="_blank" class="" href="https://asia.nikkei.com/Business/Food-Beverage/Thrifty-Chinese-diners-bring-record-profit-for-Japan-s-Saizeriya">Nikkei.</a>Matsutani said Saizeriya is now using its strategy for Japan in the neighboring market because "conditions in China in some respects look like Japan after its economic bubble burst."There are <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-heading-for-lost-decade-needs-reform-growth-japanification-2024-2">similarities</a> between <a target="_blank" rel="" href="https://www.businessinsider.com/japan-millennial-salaryman-job-wages-rent-home-ownership-birthrate-2023-5#the-typical-japanese-millennial-is-financially-conservative-having-grown-up-watching-their-countrys-lost-decade-suffer-from-a-devastating-economic-crisis-2">Japan's "Lost Decade"</a> of economic stagnation in the 1990s, after the country's asset and credit bubbles burst, and <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-property-crisis-vanke-get-uglier-analyst-charlene-chu-2024-3">China's economic downturn</a> now.After Japan's asset bubble implosion, consumption in Japan witnessed a fundamental shift, as people who previously would pay for quality and convenience increasingly moved to buying discount goods, consultancy <a target="_blank" class="" href="https://www.mckinsey.com/~/media/McKinsey/Industries/Consumer%20Packaged%20Goods/Our%20Insights/The%20new%20Japanese%20consumer/The%20new%20Japanese%20consumer.pdf">McKinsey</a> wrote in a 2010 report.Chinese consumers now appear to be moving in the same direction as their Japanese peers, trading down for cheaper products — even if the trend also presents challenges for budget-friendly retailers.Still, investors appear to agree with the strategy of offering more value for money. Shares of Saizeriya listed on the Tokyo Stock Exchange are up 7.7% this year-to-date.<h2 id="fa258e48-944f-4589-9a00-fdd7e405730d">Living well but at the 'best value for money'</h2>In China, too, times have changed, and people are looking for cheaper products, including <a target="_blank" class="" href="https://www.businessinsider.com/chinese-economy-young-shoppers-looking-dupes-substitutes-pingti-fashion-travel-2024-9">dupes and substitutes.</a>"Consumers are increasingly rational and strategic, focusing on obtaining the best value for their money," said MingYii Lai, a strategy consultant at Beijing-based market research firm Daxue Consulting, told Business Insider.Shoppers are seeking high-quality experiences and products at lower costs while aiming to live well, she said.People are increasingly choosing to spend on experiences, like travel and food, rather than buying products."Economic pressures and changing priorities are driving a move towards more economical spending," said Lai.The ethos has benefited companies with budget offerings, including Yum China, which operates KFC and Pizza Hut in the country.<a target="_blank" class="" href="https://ir.yumchina.com/quarterly-results">Yum China'</a>s second-quarter operating profit grew 4%, to $266 million, from a year ago thanks to aggressive budget-friendly deals.<a target="_blank" class="" href="https://www.fastretailing.com/eng/ir/financial/summary.html">Fast Retailing</a> — the parent company of Uniqlo, known for affordable clothes — reported net profit growth of 25.6% for its full year ending August 2024 thanks to robust sales in both the domestic and international markets. Sales in Greater China grew by 9.2%, to 677 billion yen.Yum China shares are up 11% this year to date, while Fast Retailing shares are up 56% over the same period.<h2 id="af7e4a77-fdf8-44fe-9f62-eb06a273ab9e">Intense competition</h2>However, China's market is a fast and furious one — even for winners — and the country's economic downturn has created cut-throat competition with aggressive price wars.Uniqlo said on Thursday that while sales in mainland China were "strong" in the first half of its fiscal year, they were "lackluster" in the second half.Some consumers are <a target="_blank" class="" href="https://www.businessinsider.com/chinese-economy-young-shoppers-looking-dupes-substitutes-pingti-fashion-travel-2024-9">going straight to the source</a> to buy original equipment manufacturer goods or white label products to replace items in a wide range of categories — even if they're just ordinary products.The race for Chinese consumers' yuan is exemplified in the boba tea business, where an all-out price war is changing market dynamics for what is considered a still affordable indulgence in a penny-pinching era.As China's economic malaise deepened, <a target="_blank" class="" href="https://x.com/AFP/status/1835337779993256178">boba tea went from</a> premium pricing around $3.50 to $5.50 on average to as little as $1 or less over the last few years."All the players are trying to introduce low-price offers. So, either you can use a low price range, or try to be very creative in terms of pricing promotion so as to stay ahead of the market," Jason Yu, the Greater China managing director at Kantar Worldpanel, a consumer research group, told BI.In KFC's case, its marketing and pricing strategies cater to both ends of the market, with wagyu beef products at the higher end and promotions like 15 wings for under $3, <a target="_blank" class="" href="https://www.businessinsider.com/western-brands-china-kfc-mcdonalds-american-fast-food-all-in-2024-9">BI's Matthew Low</a> reported last month.As Allison Malmsten, another analyst from Daxue Consulting, told BI: "the rich are comfortable to spend, while the middle class chooses cheaper options."

Budget brands are winning in China as people turn to cheap food and fashion     

<ul class="summary-list"><li>New York low-key women's fashion brand Veronica Beard just launched a collaboration with the NFL.</li><li>The collab features 32 separate $1,000 jackets emblazoned with each NFL team's logo and colours.</li></ul>The lines between <a target="_blank" class="" href="https://www.businessinsider.com/paris-olympics-fashion-outfits-details-2024-8">sports and fashion</a> are blurring.On Sunday, <a target="_blank" class="" href="https://www.businessinsider.com/tom-brady-nfl-approves-stake-las-vegas-raiders-2024-10">the NFL</a> announced a partnership with <a target="_blank" class="" href="https://www.businessinsider.com/best-jeans-for-tall-women-good-american-veronica-beard-2023-5">Veronica Beard</a>, a <a target="_blank" class="" href="https://www.businessinsider.com/quiet-luxury-explained-which-brands-will-benefit-2023-4">low-key luxury</a> fashion brand in New York founded in 2010 by sisters-in-law Veronica Miele Beard and Veronica Swanson Beard.The collaboration comprises 32 NFL-team branded blazers, retailing at $998 each, in the preppy style of Veronica Beards' signature Dickey Jackets."Partnering with women-centric brand Veronica Beard has allowed the NFL to create a sophisticated and contemporary touchpoint for female fans at the intersection of sports and luxury fashion," Renie Anderson, executive vice president of partnerships at the NFL, said in a press release shared with Business Insider.<div type="image" title="A model wearing a Veronica Beard NFL jacket." height="1920" width="1280" msid="114462483" hostid="261" sizebytes="280672"></div>"Women's sports and female sports fans are having an undeniable moment in the cultural zeitgeist, yet few luxury brands cater to this incredibly discerning and loyal audience," Veronica Beard said in a statement to BI.While the collaboration comes amid the surge in <a target="_blank" class="" href="https://www.businessinsider.com/nfl-commissioner-taylor-swift-unbelievable-artist-increased-game-viewership-girls-2023-11">NFL female viewership, thanks in part to Taylor Swift,</a> two luxury experts told BI it's just one example of how the fashion world, particularly the luxury sector, is looking to capitalize on sports as a largely untapped resource."The public has always been excited about sports, but sports have traditionally been seen as a workman's pastime, not a refined pastime," Thomai Serdari, a luxury marketing and branding professor from NYU's Stern School, told Business Insider.But that has changed, Serdari added. When tickets to games or races set you back thousands, and audiences include society tastemakers like Swift, sports have become an elevated arena — and fashion brands are taking note.<h2 id="42281355-e80a-4b81-9e8a-f49828633eb0">Sports are the new fashion frontier</h2>After a pandemic era boom, there are signs of struggle in the luxury world.<a target="_blank" rel="" href="https://www.businessinsider.com/lvmh-luxury-louis-vuitton-struggles-china-slowdown-2024">LVMH, the heavyweight champion of the luxury conglomerates</a>, announced its third-quarter earnings last week, and the results were <a target="_blank" class="" href="https://www.businessinsider.com/lvmh-sales-drop-bad-indicator-luxury-market-kering-hermes-china-2024-10">significantly below expectations</a>.Earlier in October, LVMH announced a new 10-year deal with Formula 1. A few weeks later, Bloomberg reported that LVMH boss <a target="_blank" href="https://www.businessinsider.com/who-is-bernard-arnault-owner-louis-vuitton-lvmh-net-worth">Bernard Arnault's</a> family is taking another step into sports by investing in the Paris FC football club alongside Red Bull.In the summer, the Paris Olympics were also seen as a major opportunity for luxury and aspirational brands, including Lululemon and Skims. LVMH spent a reported 150 million euros ($163 million) on its own Olympic and Paralympic Game collaboration, which included designing the medals and presenting them in Louis Vuitton-branded boxes and creating the French team's uniforms. The move was widely lauded, with one luxury expert telling Business Insider it was a <a target="_blank" class="" href="https://www.businessinsider.com/lvmh-should-repeat-olympics-sponsorship-luxury-showcase-expert-paris-retail-2024-8">"masterclass" in brand engagement</a>.<div type="image" title="Left to right: Antoine Arnault, Bernard Arnault, Anna Wintour and Brian Roberts" height="683" width="1024" msid="114462771" hostid="261" sizebytes="53634"></div>Amid the luxury downturn, Milton Pedraza, CEO of the Luxury Institute, told BI that it's logical for some luxury and aspirational brands to attempt to cross-pollinate fanbases with sports teams and athletes as a means to stay relevant."It's an elevation and sort of a convergence of sports and fashion into making something bigger than the individual sum of the part," Pedraza said.For Serdari, it's a sign the fashion industry, particularly the luxury sector, is trying to engage with younger consumers — Gen Zers and millennials — who are <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-loves-expensive-groceries-snacks-erewhon-whole-foods-2024-10">redefining luxury</a> and placing greater value on experiences."They will think really twice about expensive items, but they're still spending money on experiences and events," she said of younger consumers.With the NFL and Veronica Beard, for example, merging the two is a "great opportunity of bringing a brand in front of that younger consumer who may now be tempted because now here is this brand who embraces their favorite NFL team," Serdari added.<h2 id="d3e8f772-481f-40a9-87e5-729c676ab8b6">The luxury fashion industry can't rely on sports to be its saving grace long-term</h2>However, Pedraza said, not all collaborations reap big rewards."Hail Mary passes are called Hail Mary passes for a reason," he said. "These are not make or break for the brands, but they're good experiments in the middle of the game of growth."While sports collaborations are exciting and a surefire way to create buzz for fashion brands amid the turbulence within the industry at large, Pedraza said it is unlikely to be the "long-term growth engine" luxury is in need of."There's a bit of a lack of innovation on the part of some luxury brands," he said. "These days, the belief is that getting attention is everything."Sports is a growth area, but, as Pedraza said, "there are limits to growth.""It's a phase," Serdari said. The strategy, she added, is always, "How can I make more money? Where can I look to make more money?"Right now, that answer is seemingly sports.

The NFL's $1,000 branded designer jackets are the latest sign of fashion's newfound love affair with sports

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/china-luxury-retail-sales-slowdown-brands-fashion-2024-7">Luxury brands are struggling</a> due to economic pressures and high inflation.</li><li>Aspirational consumers have turned to midlevel brands like Zara and Pandora.</li></ul>Tanking share prices, excess stock flooding outlets, a slowdown in once-reliable China: 2024 has been a tough year for luxury brands. <a target="_blank" class="" href="https://www.businessinsider.com/gucci-sales-profit-reputation-falling-luxury-kering-michele-china-2024-5">Gucci</a> has become a fixture of discount racks, while <a target="_blank" class="" href="https://www.businessinsider.com/how-burberry-became-fashions-biggest-fail-stock-drop-ceo-ousting-2024-8">Burberry's</a> stock is at its lowest point in years.But where there are losers, there are also winners, and when consumers don't go high, they go low — or at least lower."Overall, especially at the aspirational level, some customers just can't afford to spend the way they have been the last few years due to the inflationary pressures on housing and groceries," Claire Tassin, a retail and e-commerce analyst at Morning Consult, told Business Insider.<a target="_blank" class="" href="https://www.businessinsider.com/lvmh-says-the-aspirational-customer-is-suffering-2023-7">Aspirational consumers</a> who used their extra pandemic cash to splurge four figures on handbags or branded jewelry are now being squeezed by prices spiraling upward. It's those middle-income shoppers whose consumer confidence has suffered the most and who are turning to more practical, cost-effective options, Tassin said.To find relief from high luxury prices, those consumers are turning to midlevel brands like clothing store Zara and jewelry brand Pandora, which are thriving."Brands that offer accessible luxury or affordable fashion are seeing success as consumers adjust their spending habits," Federica Levato, senior partner at Bain &amp; Company, told BI over email. "The ability to offer desirable products at various price points allows these brands to capture a broader audience, particularly in times of economic uncertainty."The stock of Zara's Spanish parent company, Inditex, and Danish Pandora are both up 26% this year. Quarterly revenues were up 11% and 15% year-over-year, respectively. Meanwhile, the Paris-listed stocks of Gucci-owner Kering and Louis Vuitton-owner LVMH are down TK and TK, respectively."For many years there has been a trend that the low end is growing, the very high end is growing, and the middle is shrinking and hollowing out," Jelena Sokolova, a senior equity analyst at Morningstar, told BI. "We have actually reached an inflection where people need some kind of brand that caters to people who are not exactly dumpster diving but also cannot afford luxury anymore."It's not the first time more midlevel players have benefited from a luxury downturn. Following the 2008 recession, brands like Michael Kors and Coach found themselves thriving.Both <a target="_blank" class="" href="https://www.businessinsider.com/urban-revivo-convert-but-experts-say-zara-shouldnt-worry-2024-7">Zara</a> and Pandora have taken advantage of the larger luxury slowdown to take market share from competitors, and both have room to continue to grow. But it's not just that the brands have lower price points — for years, they have been strategically setting themselves up to take over market share and maximize profits.<a target="_blank" class="" href="https://www.businessinsider.com/zara-founder-amancio-ortegas-life-and-houses">Zara</a> has established itself as a fashion-forward midlevel company. Thanks to its nimble supply chain, it quickly churns out stylish clothes based on runway looks. It produces its products — often versions of runway trends — in places like Morocco, Portugal, and Turkey, which are close to or in Europe, its largest market, and is the exclusive customer of most of its factories."Call it a value play, call it a dupe, but you are finding a similar style that is not as expensive," Tassin said. "You are still being able to scratch that itch of consumption and getting a stylish item that is speaking to the same trend or expressing a similar aesthetic."Its price points, which are lower than luxury but not so low that they alienate consumers into thinking they are poorly made (think Shein and Primark) have set it apart. There's a $349 leather jacket available amid the $70 blazers and a pair of $229 boots made of 100% cow fur."It has become very crowded on this very, very low end. Zara is pivoting to the higher end position, into having more designed items and playing on this fashion edge," Sokolova said. "It is acceptable for people to buy accessories with luxury brands and then buy apparel at Zara."<a target="_blank" class="" href="https://www.businessinsider.com/pandora-influencer-marketer-strategies-partner-creators-of-color-brand-deals-2024-6">Pandora</a>, known for its strong and steady charm bracelet business, has expanded beyond that niche to target a wide range of consumers looking for a lower-cost option. It bills itself as the "only global brand in the accessible luxury jewelry market."It's moved into lab-grown diamonds — recently seen on Pamela Anderson at the <a target="_blank" class="" href="https://www.businessinsider.com/met-gala">Met Gala</a> — and pearls, as well as silver, where it can grab market share from the likes of Tiffany and Co., which has leaned away from the highly profitable metal."With these other product ranges apart from charms, they think they are benefiting from the downtrading of consumers," Sokolova said.To be sure, those who would typically purchase a <a target="_blank" class="" href="https://www.businessinsider.com/cartier-van-cleef-richemont-winning-luxury-beating-lvmh-kering-2024-6">Cartier</a> engagement ring likely aren't shopping for one at Pandora. But for smaller gifts, the brand has successfully expanded its customer base thanks to its scale — it's three times as large as its main competitor, Swarovski, Sokolova estimated.Of course, what goes down likely comes back up. The trick for both Zara and Pandora will be maintaining their appeal when aspirational consumers can once again spend on luxury. As it is, <a target="_blank" class="" href="https://www.businessinsider.com/inflation-august-consumer-price-index-federal-reserve-rate-cuts-2024-9">US inflation is moderating</a> — but certainly not quickly."The question mark is really whether the consumers will stick," Sokolova said, "or whether their financial situation improves and they will move on."

These mid-tier brands are winning in fashion while luxury struggles 

<ul class="summary-list"><li>On Monday, Taylor Swift attended the Chiefs game in a plaid set from Vivienne Westwood.</li><li>She accessorized her look with over $46,555 worth of jewelry and $15.99 sparkly freckles.</li></ul>Taylor Swift attended her third football game of the 2024-2025 NFL season in style.On Monday, <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-world-richest-female-musician-forbes-key-difference-rihanna-2024-10">Swift</a> returned to Arrowhead Stadium to support the Kansas City Chiefs — and her boyfriend, <a target="_blank" class="" href="https://www.businessinsider.com/travis-kelce-grotesquerie-character-casting-ryan-murphy-2024-9">Travis Kelce</a> — in their game against the New Orleans Saints.Swift attended the game wearing head-to-toe Vivienne Westwood, continuing her streak of bringing <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-chiefs-game-outfit-jewelry-cost-item-breakdown-2024-9">high-end fashion to football</a>.<h2 id="48ea9522-19b9-4efd-85e4-0b0e7f5716b2">Swift rocked a plaid look</h2>The "Down Bad" singer arrived at the game in a coordinating set from <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-debuts-new-designer-outfits-european-eras-tour-2024-5">Vivienne Westwood</a>, a designer Swift has been wearing frequently in 2024.The $1,875 <a target="_blank" class="" href="https://www.viviennewestwood.com/en-us/women/clothing/corsets/sunday-corset-top-red-check/1503003B-W00VM--RED-CHECK.html?srsltid=AfmBOoqevIdEP938Vxk8UqLNCWSkMegCkYGQBYkAnTd9N64m0pxDvzb9">Sunday Corset</a> featured off-the-shoulder sleeves and matched the $1,010 <a target="_blank" class="" href="https://www.viviennewestwood.com/en-us/women/clothing/skirts/meghan-kilt-red-check/8050889888482.html?srsltid=AfmBOoom53mu1bQ5UQNs_y_pEuVJfnGVTy_Rbq9wH6WEV4WavNsHGb5V">Meghan Kilt</a>. The set featured a red checked pattern that subtly nodded to the Chiefs' red uniforms.<div type="image" title="Taylor Swift walks into the Chiefs game wearing a plaid set and boots." height="2998" width="2000" msid="114055088" hostid="261" sizebytes="273678"></div>Swift paired the look with Vivienne Westwood's black <a target="_blank" class="" href="https://www.viviennewestwood.com/en-us/grace-boot-black/8050889995050.html?srsltid=AfmBOoofrL-GIgO6whK1XE2yBt9_m3pizqISCbPwbOB0kWX0sK0SEEEV">Grace Boots</a>, which retail for $1,270. She also turned to the designer for her purse, toting the $590 <a target="_blank" href="https://affiliate.insider.com?h=a3277c2143aa20476b359a53627a21fd7ae33da02b786c68f7452384461eac9a&amp;postID=6705317ed86164749865e3dc&amp;postSlug=taylor-swift-chiefs-game-outfit-glitter-freckles-designer-jewelry-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.ssense.com%2Fen-us%2Fwomen%2Fproduct%2Fvivienne-westwood%2Fmulticolor-belle-heart-frame-bag%2F15874551%3Fgad_source%3D1%26gclid%3DCj0KCQjwsJO4BhDoARIsADDv4vBfL5cbt6AcgRiUDnt3P49FIhKUqqPaimjR2LjI-I33qB8rV3QLsXgaArjmEALw_wcB">Belle Heart Frame Jacquard Bag</a>.Swift's outfit slightly coordinated with Kelce's pre-game look. He arrived in a $1,600 button-down from Loewe featuring an asymmetrical checked pattern in similar colors to Swift's set.<div type="image" title="Travis Kelce enters Arrowhead Stadium." height="3000" width="2000" msid="114055092" hostid="261" sizebytes="127630"></div>The singer's <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-most-expensive-fashion-jewelry-worn-this-year-2024-3">designer clothes</a> were eye-catching, but her luxury jewelry was the priciest aspect of her outfit.<h2 id="bec631d6-a5db-46f9-b3c2-d8bd256c6c5b">Swift's jewelry for the game was worth over $46,000</h2>As she has for Chiefs games in the past, Swift wore several pieces of high-end jewelry with her outfit.She wore Vivienne Westwood earrings, selecting the brand's $210 <a target="_blank" class="" href="https://www.viviennewestwood.com/en-ch/women/jewellery/earrings/grace-bas-relief-stud-earrings--platinum-crystal-crystal/62010124-02P116-CN-PLATINUM-CRYSTAL-Crystal.html?srsltid=AfmBOooOv2VJaalM51gc-AGNU2peOeOD7mdqe8M0JyfvYNx11-5Y5E34">Grace Bas Relief studs,</a> but she mixed and matched pieces from different designers for the rest of her accessories.For instance, Swift added her $27,250 Agrafe Herringbone Twisted Necklace from Cartier and her $5,680 <a target="_blank" href="https://affiliate.insider.com?h=a915e62111f5f90ec33b25612fd7f1968ef3bf40fb4331639494a1033d66eee6&amp;postID=6705317ed86164749865e3dc&amp;postSlug=taylor-swift-chiefs-game-outfit-glitter-freckles-designer-jewelry-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwovemade.com%2Fshop%2Fmichelle-wie-west-jewelry%2Fcustom-diamond-friendship-bracelet-yellow-gold-bracelet">custom diamond TNT</a> bracelet from Wove, <a target="_blank" href="https://www.businessinsider.com/taylor-swift-wears-diamond-friendship-bracelet-from-jewelry-startup-2024-1">which</a><a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-wears-diamond-friendship-bracelet-from-jewelry-startup-2024-1"> Kelce gifted her,</a> to her outfit.<div type="image" title="Taylor Swift smiles as she walks into the Chiefs game." height="2999" width="2000" msid="114055086" hostid="261" sizebytes="1129060"></div>Swift stacked two pieces from Jacquie Aiche, including the $5,250 <a target="_blank" class="" href="https://jacquieaiche.com/products/pave-emerald-center-eye-diamond-smooth-bar-bracelet?_pos=1&amp;_sid=8f6483945&amp;_ss=r">Evil Eye Bracelet</a> and the $4,675 <a target="_blank" class="" href="https://jacquieaiche.com/products/7-diamond-kate-smooth-bar-bracelet?variant=44046391738566">7 Diamond Kate Smooth Bar Bracelet</a>, and wore Shahla Karimi's $3,490 <a target="_blank" class="" href="https://shahlakarimi.com/products/cloud-collection-offset-pear-ring?srsltid=AfmBOopxDNXBqFdgkMujqs61ZhHAvENTjhcZBxQaloP1EmGbZsdnYVBB&amp;variant=40451854893130">Cloud Offset Pear Ring.</a>Swift also added Effy Jewelry's 14k yellow-gold band with a ruby heart, as well as a baguette ruby and diamond V ring from the brand. Pricing for the rings is not available online, as they were custom-made.<div type="image" title="Taylor Swift wears sparkly faux freckles." height="2998" width="2000" msid="114055094" hostid="261" sizebytes="293312"></div>The most buzz-worthy aspect of Swift's outfit wasn't designer. It was her $15.99<a target="_blank" class="" href="https://fazitbeauty.com/products/red-stardust-speckles-makeup-patches-spirit-collection"> glitter freckles</a> from Fazit Beauty, which come in gold, silver, rose gold, and more colors.Swift has been known to <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-eras-tour-outfits-ranked-2023-8">wear sparkly looks</a> on and off stage, from bodysuits to <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swifts-most-daring-looks-sheer-outfits-2021-11">gowns</a>. She even posed with a glitter heart on her face for the cover of her <a target="_blank" class="" href="https://www.businessinsider.com/taylor-swift-albums-ranked-by-quality-best-worst-2023-3">2019 album, "Lover."</a> So the freckles weren't a total style departure for Swift, but they added a pop of whimsy and team spirit to her game-day look.The brand's cofounder, Aliett Buttelman, <a target="_blank" class="" href="https://www.tiktok.com/@aliettbutts/video/7423209246445145386">posted a TikTok</a> of herself crying when she saw Swift wearing the patches. As of Tuesday, the video had already amassed nearly 3 million views.Swift's outfit was worth over $51,316 in total, and her jewelry for the game cost more than $46,555 alone.The Chiefs won't play again until after Swift's Eras Tour resumes on October 18, so it may be a while before she appears at another NFL game. But if her recent looks are any indication, she'll be in head-to-toe glam when she does.

Taylor Swift brought luxury fashion to Monday night football in an outfit that cost over $51,000

<ul class="summary-list"><li>Luxury consumption in China might be low, but Gen Z does have its favorite luxury items.</li><li>A consumer expert told BI these are the top five luxury goods popular among China's Gen Z right now.</li></ul>Luxury brands may be having trouble making further inroads into China, but there are still some top items that Chinese Gen Zers are into.Antonello Germano, a Chinese consumer insights manager at Daxue Consulting, gave BI his list of the top products China's Gen Z is currently into.Here are his top picks.<h2 id="8cefd292-68b6-4cd4-a9c3-8968fbcee658">Gucci GG Marmont</h2><div type="image" title="A Gucci Marmont bag." height="683" width="1024" msid="112377728" hostid="261" sizebytes="65572"></div>Germano picked out the hottest items by analyzing sales figures on the Chinese e-commerce site Tmall, trends on the Chinese social media platform Xiaohongshu, and online retailer Dewu.He focused on the handbag category because it "always accounts for a big chunk of luxury sales in China," and shoes because it is a "rising segment."He said there is a shift toward "discreet luxury," a growing distaste of flashy logos, and a liking for secondhand luxury items.The <a target="_blank" href="https://www.gucci.com/us/en/ca/women/handbags-c-women-handbags?filter=%3ANewest%3Aline%3AGG+Marmont">Gucci GG Marmont</a> bag collection, released in 2016, features small-to-medium-sized handbags priced from $980 to $3,980.The line puts Gucci's distinct "GG" emblem front and center, making it instantly recognizable. Germano said Chinese Gen Zers are interested in "brand values, culture, history, and unique design.""They favor trendy or 'hot' brands, are more likely to opt for niche brands, and show interest in vintage or secondhand luxury items," Germano said.<h2 id="df6e4991-3b25-44e7-8c98-b4a7070e97a5">Gucci Horsebit 1955</h2><div type="image" title="A Gucci Horsebit 1955 bag." height="683" width="1024" msid="112377722" hostid="261" sizebytes="21242"></div>The <a target="_blank" class="" href="https://www.gucci.com/us/en/ca/whats-new/gucci-horsebit-1955-c-gucci-horsebit-1955">Gucci Horsebit 1955</a> line, which ranges from about $1,200 to $4,300, doesn't have the "GG" emblem and is more subtle design-wise.That makes sense because, per Germano, Gen Z Chinese buyers are less logo-orientated than their parents' generations."They go beyond the physical attributes of luxury items, seeking recognition from their peers, staying on-trend, and expressing their values," Germano said.He added that, in contrast, "millennials and Gen X prioritize the tangible features of luxury goods, such as brand name, heritage, and product quality."These older Chinese consumers gravitate to "recognizable major brands," he added.Germano said the Horsebit 1955 and GG Marmont collections are "some of Gucci's most iconic lines.""I am not surprised they are so popular in China, especially now that consumers favor timeless and value-retaining luxury goods," he said.<h2 id="86ccb942-9fb6-4943-a060-69efb272b819">Saint Laurent Niki Medium</h2><div type="image" title="The YSL Niki Medium bag." height="3260" width="2000" msid="112377718" hostid="261" sizebytes="92786"></div>Germano's third pick was the Saint Laurent <a target="_blank" class="" href="https://www.ysl.com/en-us/pr/niki-medium-in-vintage-leather-6331580EN041000.html">Niki Medium</a> bag, which retails for $3,150. The simple, sleek bag with metal chains is from the French luxury house Saint Laurent.Germano said that while Chinese brands are on the rise, international brands like Saint Laurent still have a chokehold on the luxury market in China.Saint Laurent and Gucci's bags are "considered safe options" for Chinese consumers, per Germano."Local brands do not enjoy the same perceived quality and prestige as their Western counterparts," he said.<h2 id="3b5c3882-719e-4daa-b1d4-539aefde853f">Saint Laurent Le 5 à 7 Hobo</h2><div type="image" title="The YSL Le 5 a 7 handbag." height="3084" width="2460" msid="112377729" hostid="261" sizebytes="85654"></div>The Saint Laurent <a target="_blank" class="" href="https://www.ysl.com/en-us/ca/le-5-a-7-women?gad_source=1&amp;gclid=CjwKCAjwk8e1BhALEiwAc8MHiAd5xKvvE7XKJ3moZK7dSsTiG8qOmaAjG451uUqydj5JgwKY8xytPRoCz6UQAvD_BwE&amp;gclsrc=aw.ds&amp;sort=price_asc">Le 5 à 7 Hobo</a> handbag, which retails from $1,750 to $5,100, is another one of Germano's picks.The structure of the bags in this line ranges from a more rectangular style to a slouchy and tote-like form in its "supple" variation.The bags all feature a simple Saint Laurent logo and single shoulder straps, evoking the quiet luxury trend that has been popular in China for at least a year.The "<a target="_blank" class="" href="https://www.businessinsider.com/chinese-rich-go-for-quiet-luxury-stealth-wealth-2023-8">laoqianfeng</a>" trend is the Chinese equivalent of the old-money aesthetic in the West. It is characterized by simple, high-quality clothing and accessories while avoiding logo mania.Germano said that the shift toward quiet luxury was largely due to the economic downturn in China, which has reduced the number of aspirational middle-class luxury consumers who gravitate toward bold, obvious logos."As Gen Z resumes spending on luxury items and the middle class in non-tier-1 cities grows, there may be a resurgence of bolder logos."However, it is unlikely that that will happen anytime soon, with China's economy <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-second-quarter-gdp-growth-weak-demand-consumption-exports-2024-7">only growing by 4.7%</a> in the second quarter of 2024 and missing analysts' 5.1% growth forecast.Weak consumption is the main cause of the slowdown, with retail sales expanding just 2% in June from a year ago, according to <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-07-15/china-growth-weakens-more-than-expected-as-outlook-darkens?embedded-checkout=true">Bloomberg</a>.International luxury names like Burberry, Hugo Boss, and Swatch have <a target="_blank" class="" href="https://www.businessinsider.com/china-luxury-retail-sales-slowdown-brands-fashion-2024-7">reported low sales</a> in the latest quarter.Burberry's sales in mainland China fell 21% year-over-year in the most recent quarter. At the same time, Hugo Boss said in its <a target="_blank" class="" href="https://group.hugoboss.com/en/investors/publications/financial-releases/publication/hugo-boss-announces-preliminary-second-quarter-results-and-updates-its-full-year-2024-outlook">preliminary Q2 financial reports</a> on July 15 that key markets like China and the UK were "particularly challenging."And Bernard Arnault's LVMH, the parent company of Louis Vuitton, Dior, and Givenchy, saw its second-quarter sales <a target="_blank" href="https://www.cnbc.com/2024/07/24/worlds-largest-luxury-group-lvmh-slumps-5percent-after-reporting-revenue-miss.html">drop by 14%</a> year over year, excluding Japan.<h2 id="11b9aa34-4b99-4638-9dee-9a27aa3ba4e2">Maison Margiela Replica sneakers</h2><div type="image" title="A Maison Margiela storefront in Miami, Florida." height="683" width="1024" msid="112377965" hostid="261" sizebytes="28548"></div><a target="_blank" class="" href="https://www.maisonmargiela.com/en-us/maison-margiela/men/shoes/replica/">Maison Margiela's Replica sneakers</a> are trendy among Chinese Gen Z-ers, Germano said. They retail from $670 to $750."In the luxury shoe category, which is particularly popular among younger consumers, Balenciaga 3XL shoes have lost momentum over the past two to three months, while Margiela Replica sneakers are gaining the top position," he said. Like the understated Saint Laurent Le 5 à 7 Hobo, Maison Margiela's Replica sneakers are simple and discreet enough for everyday use."Maison Margiela Replica sneakers became a hit mainly because celebrities and influencers love them," he said.They are also popular because they "align with popular Chinese fashion trends like clean fit, minimalism, and the old money style," he added.

These are the 5 luxury items China's Gen Z is going nuts for, a retail expert says

How many times have you stared at your (sometimes overflowing) wardrobe in horror and yelled “I have nothing to wear”? Speaking for myself when I say this: way too many times. Have I bailed on plans for this reason? Also yes. And this is why when I first came across <keyword id="23077982" type="General" weightage="100" keywordseo="Slikk" source="keywords">Slikk</keyword>, I was more than a little intrigued. “If you can have groceries delivered to you in a few minutes, why shouldn’t the same apply to clothes?”, the app’s advertisement taunts. Slikk promises to deliver clothes in just 60 minutes in <keyword id="19895037" type="General" weightage="20" keywordseo="bengaluru" source="keywords">Bengaluru</keyword>, where it already operates. Today’s <keyword id="20246469" type="General" weightage="20" keywordseo="GenZ" source="keywords">GenZ</keyword> and young millennials are highly impulsive shoppers, making them a key target group for <keyword id="23077981" type="General" weightage="20" keywordseo="fast-fashion-brands" source="keywords">fast fashion brands</keyword>, says founder <keyword id="23077987" type="General" weightage="20" keywordseo="akshay-gulati" source="keywords">Akshay Gulati</keyword>. Their impulsiveness is fueled by the constant influx of new trends and designs, alongside faster delivery options. Slikk aims to address this by offering fresh collections from emerging fast fashion brands every week, along with a <keyword id="23077983" type="General" weightage="20" keywordseo="60-minute-delivery" source="keywords">60-minute delivery</keyword> window, providing a unique shopping experience compared to traditional fashion platforms, he adds. He did not have to call us out like that. <div type="Article" hostid="261" msid="112681980" title="Online vendors generated 15.8 million jobs in India: e-commerce report" mstype="2" mssubtype="0"></div>Anyways, I wasted no time in downloading the app and picking out some pieces of clothing. While the sizing charts weren’t as detailed as I would’ve liked and there weren’t too many options to choose from, it seemed to do the job — considering the <keyword id="19913824" type="General" weightage="20" keywordseo="startup" source="keywords">startup</keyword> began operating only recently. But what really caught my attention was that not only did Slikk offer a 7-day return, it also had a “Try and Buy” option. Here, the user would have to pay Rs 50 in addition to the standard delivery fee and Slikk’s delivery executive would wait for 10 minutes at your doorstep so you could try on the products and return what wasn’t to your liking immediately. Pretty neat, no? However, my love affair with Slikk ended sourly almost as soon as it began. After I’d added some pieces of clothing, selected the “Try and Buy” option and applied the first-timer discount coupon, it wouldn’t let me make the payment. I tried selecting both — the Cash on Delivery and Online Payment modes — several times. But the page wouldn’t budge. I even tried using the website, in case there was a glitch with the app, but that didn’t work either. While I was a little disappointed, the experience gave me the impression that Slikk needs a little more time to optimise its user interface and maybe collaborate with more brands before I can start relying on it as a chronic last-minute shopper. Meanwhile, reports suggest that Slikk has already raised $300K in its pre-seed round led by <keyword id="23077985" type="General" weightage="20" keywordseo="Better-Capital" source="keywords" meta.keywordsubtype="org" meta.entityname="Better Capital" meta.hostid="261" meta.entityid="Better Capital">Better Capital</keyword>, with participation from <keyword id="23077986" type="General" weightage="20" keywordseo="Untitled-Ventures" source="keywords" meta.keywordsubtype="org" meta.entityname="Untitled Ventures" meta.hostid="261" meta.entityid="Untitled Ventures">Untitled Ventures</keyword>. The startup will be using the sum to scale to over 100 brands, a dark store — a retail outlet or distribution centre that exists exclusively for online shopping, and expand delivery coverage to 70% of Bengaluru’s pin codes. Further, Slikk also aims to broaden its offerings to other metropolitan cities in the country and also include beauty, personal care and home decor to its collection. <div type="Article" hostid="261" msid="112444934" title="This new &amp;#39;Shazam&amp;#39; for fashion app could change the way the world shops online" mstype="2" mssubtype="0"></div>

Nothing to wear? Bengaluru-based startup promises to deliver clothes in just 60 minutes. Here’s my experience!

<keyword id="3378227" type="General" weightage="20" keywordseo="aditya-birla-fashion-and-retail" source="Orion">Aditya Birla Fashion and Retail</keyword> Limited (ABFRL), India's leading fashion company, today announced a partnership with Christian Louboutin, one of the world's most famous <keyword id="19734234" type="General" weightage="20" keywordseo="shoe-designers" source="Orion">shoe designers</keyword> known for his high-end <keyword id="23820" type="General" weightage="20" keywordseo="footwear" source="Orion">footwear</keyword> and iconic soles. This joint venture envisages the transfer of the current Indian business into a newly incorporated subsidiary of ABFRL where the partners will hold equal stake. Founded in 1991 in the heart of Paris, Christian Louboutin is one of the leading names in global luxury, world famous for its signature red sole shoes. Christian Louboutin has successfully diversified its business into men's footwear, <keyword id="939668" type="General" weightage="20" keywordseo="leather-goods" source="Orion">leather goods</keyword> &amp; <keyword id="23964" type="General" weightage="20" keywordseo="accessories" source="Orion">accessories</keyword>, beauty and kids. Christian Louboutin has established its retail presence in over 30 countries. "We are excited to partner with ABFRL's team and look forward to working with them to manage and develop the business in India which is an extremely important market for us," commented Alexis Mourot, Christian Louboutin's Group CEO. Ashish Dikshit, Managing Director, Aditya Birla Fashion and Retail Limited commented, "We are thrilled to announce our strategic alliance with Christian Louboutin, a true icon in luxury footwear. This partnership reflects our commitment to offering our discerning customers the very best in elegance and style. It also exemplifies our ambition to develop and shape the future of the luxury market in India." "We are excited to welcome Christian Louboutin into the ABFRL family and building a strong platform for the brand in India. The brand's distinctive style and craftsmanship appeals to a discerning Indian audience that is growing rapidly," Sathyajit Radhakrishnan, CEO of International Business, Aditya Birla Fashion and Retail Limited. Christian Louboutin established his business in the heart of Paris in 1991, first with a collection for Women followed by a Men's collection a few years later, both recognizable by the signature red lacquered sole. 2014 welcomed Christian Louboutin Beaute, while in, 2022 the House launched new categories dedicated to Kids and Pets. With a prolific collection of shoes, leather goods and accessories, Christian Louboutin now counts more than 150 points of sales around the world. ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. With revenue of Rs. 12,418 Cr. spanning retail space of 10.8 million sq. ft. (as on March 31, 2023), it is India's first billion dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats. The Company has a network of 3,977 stores across approximately 33,535 multi-brand outlets with 6,723 point of sales in department stores across India (as on 31st March 2023). It has a repertoire of India's largest brands in Louis Philippe, Van Heusen, Allen Solly and Peter England, established over 25 years. Pantaloons is one of India's leading fashion retailer. The Company's international Brands portfolio includes - The Collective, Amongst India's largest multi-brand retailers of international brands and has long term exclusive partnerships with select brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok and Galeries Lafayette. Van Heusen Innerwear, Athleisure and Active wear is establishing itself as India's most innovative and fashionable brand. The Company's foray into branded ethnic wear business includes brands such as Jaypore, Tasva &amp; Marigold Lane. The company has strategic partnerships with Designers 'Shantnu &amp; Nikhil', 'Tarun Tahiliani', 'Sabyasachi' and 'House of Masaba'. In addition, to cater to the needs of digitally native consumers, ABFRL is building a portfolio of Digital-first brands under its technology led 'House of D2C Brands' venture TMRW. TMRW is on a path to building a portfolio of Digital First brands in partnership with founders of emerging brands in the E-Commerce market. With a focus on Fashion &amp; Lifestyle categories, TMRW is building a portfolio of the most loved consumer brands that tap into the significant growth potential in India and globally.

Christian Louboutin Announces a Joint Venture Partnership in India with Aditya Birla Fashion and Retail Limited

<ul class="summary-list"><li>LVMH poured $163 million into the 2024 Paris Olympics, designing medals and outfitting France's athletes.</li><li>Experts say that this investment is a major marketing boost for the company.</li></ul>LVMH just turned the 2024 Paris Olympic Games into the ultimate luxury runwayAs a "creative partner" of the Olympic and Paralympic Games, the luxury giant poured 150 euros, or $163 million, into crafting many Olympic staples, such as Chaumet-crafted medals and the uniforms worn by French athletes, CNBC <a target="_blank" href="https://www.cnbc.com/2024/08/11/lvmh-puts-mark-on-olympics-as-luxury-brands-embrace-sports.html">reported</a> on August 11.LVMH's involvement in the Paris Olympics was a "masterclass" in brand engagement, said Daniel Langer, the executive professor of luxury strategy at Pepperdine Graziadio Business School. "The unprecedented sponsorship of the Olympics by LVMH took brand engagement to a completely different level," Langer told Business Insider.The Paris-based luxury giant also enjoyed home-field advantage of the Olympic Games.That gave LVMH the "opportunity to host their best clients and provide them with once-in-a-lifetime experiences and access other brands could not do," Langer said.Guests at LVMH's Olympics pre-party last month included Anna Wintour, LeBron James, Zendaya, Serena Williams, and other sport and fashion celebrities.LVMH did not respond to a request for comment.<div type="image" title="Left to right: Antoine Arnault, Bernard Arnault, Anna Wintour and Brian Roberts" height="683" width="1024" msid="112639092" hostid="261" sizebytes="53634"></div><h2 id="3e1a29f9-b381-4eef-9e0c-bb8f44faa533">A 'culturally relevant' city</h2>LVMH wasn't alone in turning the Paris Games into a retail showcase. American mass-market brands like Glossier, Skims, and Lululemon looked to leverage Paris' cultural relevance and the return of large audiences post-pandemic, BI <a target="_blank" href="https://www.businessinsider.com/luxury-brands-taking-over-paris-olympics-lvmh-dior-armani-glossier-2024-7">reported</a> in July."Paris as a city is just so culturally relevant," Harry Poole, VP of marketing solutions for Excel Sports Management, told BI last month. "There's no question the market made a lot of sense for that."But it wasn't just about Paris or the French brands. The Olympic Games also gave LVMH marketing leverage by literally putting the company's brands on a podium.Making large marketing investments isn't new for LVMH. The luxury powerhouse spent 72 billion euros on advertising and promotional spending from 2010 to 2023 — 22 billion euros more than five of its competitors combined, Bloomberg <a target="_blank" href="https://www.bloomberg.com/opinion/articles/2024-07-12/lvmh-and-bernard-arnault-go-for-gold-in-paris-at-the-first-luxury-olympics">reported</a> in July."The focus is on the athletes, and by default, people will be looking at what they're wearing," Fflur Roberts, the global head of luxury at Euromonitor International, told BI in July.LVMH's visibility from the Olympics could drive aspiring luxury buyers toward the company's brands, Milton Pedraza, the CEO of The Luxury Institute, told CNBC.The Olympics arrived just after LVMH's <a target="_blank" href="https://www.businessinsider.com/bernard-arnault-wealth-slumps-lvmh-retail-luxury-boom-falters-rich-2024-7">revenue</a> slumped by 1.3%, to 41.7 billion euros, in the first half of the year compared to last year. The luxury conglomerate's disappointing sales were dragged down by slowing luxury demand in <a target="_blank" href="https://www.businessinsider.com/lvmh-earnings-china-luxury-consumer-spending-marketing-shopping-japan-currency-2024-7">China,</a> and even by a sluggish market for <a target="_blank" href="https://www.businessinsider.com/lvmh-champagne-sales-drop-cfo-fewer-celebrations-h1-earnings-2024-7">Champagne</a>.Looking ahead, Langer, the Pepperdine professor, sees no reason LVMH shouldn't continue its Olympics strategy. The next Winter Olympics is set for world fashion capital Milan in 2026, while Los Angeles will host 2028's summer games. "LVMH is a global company, and the USA is one of their main markets. Therefore, I could well imagine sponsoring future Olympics to be a long-term engagement," Langer said.

LVMH made a huge splash in its first big Olympics push. The retail giant should do it again, a luxury expert says.

<ul><li><keyword id="20313645" type="General" weightage="20" keywordseo="retail-leasing" source="keywords">Retail leasing</keyword> in the sector is expected to sustain at 6-6.5 million square feet in 2024, says CBRE.</li><li>By the year-end, 5-6 mn. sq. ft. of investment-grade mall space will become operational in <keyword id="21259569" type="General" weightage="20" keywordseo="tier-I-cities" source="keywords">tier-I cities</keyword>.</li><li>Domestic brands are expected to turn cautious, but <keyword id="20322579" type="General" weightage="20" keywordseo="global-brands" source="keywords">global brands</keyword> are continuing to expand, according to the report.</li></ul><keyword id="20020606" type="General" weightage="20" keywordseo="Indian-brands" source="keywords">Indian brands</keyword> are turning cautious with their retail expansion. Hence, the leasing in the sector is expected to sustain at 6-6.5 million square feet in 2024, according to the latest report by the commercial real estate firm CBRE. The saturation follows the remarkable growth in 2023, as brands absorbed a little over 7 million sq ft. The supply environment in terms of retail space like malls and high streets is also expected to be stable in the current year. By the year-end, 5-6 mn. sq. ft. of investment-grade mall space will become operational in tier-I cities. “Retailers, including anchor tenants and established brands, are expected to proceed cautiously with expansion plans. They will prioritize locations with high visibility, strong foot traffic and favourable consumer demographics. As a result, rental growth is expected to rationalize across both primary and secondary locations,” the report says. But, there is a silver lining! Luxury and premium brands, especially global brands, are choosing to spread their wings in top cities despite the global macroeconomic and sectoral challenges. “Foreign luxury retailers are entering India through partnerships with local players. The upcoming launches of a few brands underline this trend. This reflects a renewed optimism in India's <keyword id="71937" type="General" weightage="20" keywordseo="retail-sector" source="Orion">retail sector</keyword>,” said Ram Chandnani, managing director, advisory &amp; transactions Services, CBRE India. Retail demand across investment-grade malls, prominent high streets and standalone developments has grown consistently since 2020. Tier-I cities remain key expansion hubs, and promising tier-II markets are attracting new players. Malls are transforming into experiential centres, offering a mix of entertainment, dining and shopping. “Fuelled by pent-up demand and strategic expansion, India's luxury retail sector is experiencing a leasing boom, attracting both established brands deepening their presence and new international players entering the market. This expansion reaches beyond Delhi and Mumbai to the newer markets like Hyderabad and Ahmedabad,” said Anshuman Magazine, chairman &amp; CEO of India, South-East Asia, Middle East &amp; Africa, CBRE. In 2024, the home décor segment is likely to expand in both online and offline formats, while fashion and apparel players will continue expanding in tier-I cities across malls and high streets, the report adds. It also sees good traction from domestic jewellery brands as well as the entertainment category.

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