Photo: Edward Berthelot/Getty Images
These are the stories making headlines in fashion on Monday.
Business of Fashion and McKinsey & Co. release “The State of Luxury 2025” report
Business of Fashion and McKinsey & Co. released their annual report, “The State of Luxury 2025,” breaking down major trends shaping the global luxury market. Key findings focus on the sector’s major slowdown and the fact that luxury value creation has declined. The report credits this to overexposure, diminished exclusivity and disproportionate price increases. Luxury brands also face the challenge of catering to young shoppers without alienating older clientele. For 2025, the report advises sharpening long-term strategies, investing in product craftsmanship, developing luxury experiences, attaining top corporate talent and focusing on new categories. {Fashionista inbox}
Fashion needs to stop reinventing, and start inventing
The current political climate and industry uncertainty offer a prime opportunity for unprecedented change, according to The New York Times‘ Vanessa Friedman. She calls for designers to ignite a “fashion revolution” and invent new ideas instead of being referential. Some designers like Balenciaga’s Demna and Loewe’s Jonathan Anderson propose new ideas, but more can follow their lead, she asserts. “That’s where we are now: at a mass inflection point when the world order is in flux, social mores are shifting, the A.I. era is dawning and it’s not clear how everything will be resolved. The first quarter of the 21st century, with the ascent of streetwear and athleisure, is over. There is a hunger for the defining next,” writes Friedman. {The New York Times/paywalled}
Charlotte Tilbury addresses her copycats in a new campaign
Charlotte Tilbury, makeup artist and founder of eponymous beauty brand, claps back at her imitators with the label’s new campaign “Legendary. For a Reason.” Starring Jourdan Dunn and Kate Moss, the campaign highlights Charlotte Tilbury’s most duped products, with the goal of emphasizing that they’re worth the price because of top quality and performance. “They are number one in every market, because they perform so much better, sorry, honest truth, than anyone else,” Tilbury told Business of Fashion. {Business of Fashion/paywalled}
Photo: Mert Alas/Courtesy of Rabanne
Gigi Hadid fronts Rabanne’s Million Gold For Her fragrance launch
Rabanne officially launched its new Million Gold For Her fragrance on Monday, which retails for $95-$165. Fronting its corresponding campaign is global ambassador Gigi Hadid, photographed by Mert Alas. “Million Gold For Her reminds me of how Rabanne feels as a brand. It’s powerful and beautiful, with rose, lavender and a salty mineral musk undertone,” Hadid said in a press statement. {Fashionista inbox}
Raspberry AI raises $24 million to accelerate product development
Generative AI platform Raspberry AI secured $24 million in funding to help fashion brands use AI to accelerate product development, facilitate swifter design capabilities and enhance client service. The platform allows brands to receive photorealistic renderings of design sketches (in any fabrication) instantly, allowing a more time- and cost-efficient product development process. Current clients include Under Armour, Li & Fung and MCM Worldwide. {WWD/paywalled}
How brands should navigate the luxury slowdown
In 2024, the global luxury market reportedly lost around 50 million customers due to too-high price increases and economic uncertainty. Now, brands must scramble to restrategize on how to win back shoppers. Vogue Business details a thorough survival guide on how labels can best navigate this rocky landscape, including how to court the aspirational customer, adapt to spenders’ changed habits, evaluate the payoff of investing in small luxury goods and analyze tactics from former luxury slowdown periods that can be applied today. {Vogue Business/paywalled}
Source: Fashionista.com
