In 2017, the luxury goods market grew 5% overall – and is set to grow at this rate every year until 2020, according to the 16th edition of the Bain and Company Luxury Study. Considering that 85% of its market growth was fueled by generation Y and Z, this trend is worth exploring. It is fair to say that luxury now is a particular set of values, not a price point.
“What is new is that the absolute luxury segment is accelerating alongside affordable luxury.”
To define our terms, absolute luxury brands are those that have held this status before this style-seismic shift – whose long-standing brand equity and high-priced items are a function of their logos’ cultural capital. Many stylish brands that offer a more suitable price point for the majority of our budgets, will keep you chic and your wallet in check.
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