Do contemporary luxury brands adhere to historical paradigms of luxury?

Abstract

Luxury is a single category that is demonstrably unstable and it is manifested in the changing landscape of the luxury brand market which is considered as part of the fashion cycle. Luxury brands continue to extend their product offerings to satisfy a continually growing consumer market in which branding has become increasingly important. Existing definitions of luxury are unstable due to an ever changing cyclical market and are exacerbated by marketing, branding, advertising and mass production. It is important to remove the façade of marketing and branding in order to provide a perspective that acknowledges the change and importance of fashion business methodologies to ensure business growth. At the same time it is also important to recognize the fundamental significance of luxury brand heritage and the convenient message this sends to the consumer. It is evident that concepts of luxury will continue to be defined as part of a complex structure of understanding and interpretation. In light of this, one must not lose sight of the importance of the knowledge of the craftsmen and women and their ability to communicate the intricacies of their skills in order to provoke and challenge the perpetuating luxury debate. A significant part of the current luxury brands market is predominantly made up of companies that were founded in the seventeenth and eighteenth centuries. In this period, materials and craftsmanship were prioritized. My article traces a shift in the luxury paradigm. Shaun Borstrock 232Worldwide luxury goods market revenues were forecast to grow by seven percent in the final three months of 2012 versus the same period in 2011, culminating in full year growth in 2012 to 10 percent, and pushing total luxury goods revenues to an estimated €212 billion.(Bain and Company 2012)

History of Development Haute Couture in the Fashion Industry

“…French fashion prints were often labeled as "hiver" or "été" for winter and summer, respectively, accompanied by corresponding accessories such as umbrellas, face masks, and hand fans for summer, and feathers, capes, and scarves for winter. Light silk fabrics were specially adapted using velvet and satin for winter wear (Borstrock, 2014). As noted by Barber (2015), fashion in France evolved swiftly in response to the changing seasons.…”

Chrysalis of crisis: Covid-19 as a catalyst for awakening power and justice in a luxury fashion supply chain

“…While one could expect that the luxury fashion industry (compared to high-street brands) would handle the pandemic better due to its relatively vertically integrated supply chains (Borstrock, 2020), the reality was different. The Covid-19 crisis resulted in the sharpest revenue shrinkage ever for the luxury fashion market: 23% from 2019 (D'Arpizio and Levato, 2020).…”