We all know luxury brands like Prada, Louis Vuitton or Hermès. However, there are also other high end brands not so well known and with a more affordable price. We’re talking about The Affordable Luxury.
The Affordable Luxury market is a niche where brands produce in smaller runs and their margins are also more flexible. That’s why they can afford to sell high-quality products at reasonable prices. This niche tries to occupy a space in the market aimed at a younger and creative public.
According to a study carried out by the firm Bain & Company the Fashion Industry faces a significat generational change among its customers. Millennials and under 25 will acquire an important rol in the luxury world. They will contribute 180% of luxury market growth in the next five years. That’s why fashion brands are adapting their messages to this audience.
Afforadable luxury has become a direct competitor to big well known houses; because the new generation of buyers show values and purchasing habits different from the traditional ones. Brands such as Polene or Mlouye are good examples of affordable luxury.
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