Global Luxury Market Struggles to give the Consumer what they want
The global luxury fashion industry continues to struggle with trying to give what consumers want - lots of newness and instant gratification - whilst having to deal with the reality of its supply chain.
Mulberry announced the introduction of see-now buy-now elements into its latest fashion show, whilst Burberry backtracked somewhat, saying that some of its collection would be see-now buy-now but other pieces would be see-now buy a bit later. Moncler stirred things up by replacing its two catwalk shows per year with a presentation of eight capsule collections, designed by eight different creative directors, in Milan the past fashion week. The idea is to launch one new collection per month to its stores.
Can fashion truly afford to take creative risks when everything has to be put on the line by creating and producing entire collections without any indication that consumers will like them? The traditional model of showing a collection and then having the wholesale buyers and press determine what gets manufactured allowed for spectacular creativity with commercial safeguards. Is this sustainable in a world where the consumer demands instant access to what they see?
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