Fashion

In the short term, the status appeal should make extravagantly priced goods “hot items”. But for the long term? Doubtful. Even assuming there’s enough quality, exceptional design and workmanship to give inherent value to the products, and assuming there are limited editions, will these be classics that will someday command the prices of vintage Hermes or Chanel (a factor if I were buying a bag like this)? Where’s the brand story of heritage and authenticity?

Children’s collections are an area for growth for luxury brands – sources of new revenue streams. Lanvin and Versace are the two latest fashion houses to launches childrenswear lines. While children’s haute couture has its critics, others believe that if the parents can afford it, what’s the harm? After all, luxury labels have long created and sold clothes for kids. The Costume Institute at the Metropolitan Museum of Art has some Christian Dior children’s pieces dating back to the 1950s.

Like the U.S. economy in general, magazine has been slow to pick up steam. With this in mind, brands /magazines are looking for new partnerships as a means to drive new revenue streams and create new user experience for their consumers/readers.

A very original solution was presented at Bergdorf Goodman for French luxury leather purveyor Goyard. Customers were invited to a two day special event and bring in their own design to be custom painted on their Goyard purchase by a Goyard painter.

As consumers become the marketers, expect to see more people like you and me: friends, fans and followers greatly influencing purchasing decisions. Consumers are increasingly tapping into their networks of friends, fans, and followers to discover, discuss and purchase goods and services.

Is subdued behavior of the recession fading? There are hints that conspicuous consumption is back. Not surprising since the wealthiest consumers are regaining confidence and luxury retail is gaining momentum. According to the latest survey by American Express and the Harrison Group, consumer spending is expected to increase 8% this year to $359 billion excluding travel and cars.

We’ve seen crowdsourcing applied to home design, graphic design, publishing and car development, to name just a few. And more and more industries are leveraging crowdsourcing concept – also known as democratic design – because a creative design idea is good; but a design that resonates with customers’ is even better. Fashion designer Derek Lam’s Spring 2011 collection for eBay comes with a twist: Images of 16 looks have been posted on eBay, the online retailer.

This smart phone software extends a brand’s personality and creates new touch points with customers, giving them anytime/anywhere access. It also reaches a younger more tech-savvy audience, in the hopes of building brand loyalty at a younger age. High-end players are offering innovative touches…..

In terms of the economy, we’re all waiting for the other shoe to drop. Whether they’ve been actually battered or it’s merely self-inflicted, the affluent are weary. Such uncertain times mean at least temporary comfort can be found in looking back to fond memories of happy days-gone-by. Not only will “nostalgia marketing” drive trends in 2011, but for years to come until the deep effects of global recession subside.

In uncertain times, temporary comfort can be found in looking back to fond memories of happy days-gone-by. Not only will “nostalgia marketing” drive trends in 2011, but for years to come until the deep effects of global recession subside.