“Right now we are championing escapist discreet clothes - ie cashmere loungewear. Our customers still have film premieres, first dates, cocktail parties and holidays to attend. And because we are a fashion company above all, we celebrate new fashion trends, educate our consumer on why they are exciting, and then offer them to her on a silver tray.” Natalie Massenet CEO Net-a-Porter
According to a recent report by Bain & Company, shoes will continue to be the fastest growing luxury segment of all. Consumers still want luxury. They still want to feel they have a special item. The trend of the season, the beautifully crafted gem, and if they cannot buy a $3,000 handbag they are going to go to their favorite brand and buy shoes instead.
"Escapism probably also plays a role - after winter you want colour - and if there’s an economic crisis you want to be cheered up, especially if you’re spending money!” says CEO and designer Camilla Skovgaard of CS shoes.
“Contrary to any other garment, shoes actually affect how you feel and walk.”
For those that never really could spend on high fashion but stretched their credit limit to look the part, they will turn to their “fast-fashion” counterparts. But those that have always bought “pieces” instead of “clothes” are still looking to supplement their wardrobe.
“There is a general sense that people will buy fewer items of better quality for the foreseeable future. Customers will demand uniqueness and good value, which is not to say inexpensive” Alex Bolen CEO Oscar de la Renta.
*Source for this article is businessofstyle.net
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