Does this new digital-savvy, consumer-first retail landscape even have a place for luxury?
Author:Andrea ChengUpdated:Dec 16, 2019Original:Dec 16, 2019Three years ago, when Coral Chung and Wendy Wen were gearing up to launch Senreve — a handbag line catered to working professionals — they were urged by advisors, by industry veterans who were experts in the traditional fashion and luxury space to partner with Barneys New York for their debut. "They said, 'That's the only way you're going to get your brand out there,'" Chung recalls.
She's right. Hitting checkout online is not nearly as luxurious as leisurely browsing beautifully displayed bags or trying on shoes while sipping on a glass of champagne. And for many, buying a luxury bag is a once-in-a-lifetime experience. "Designers are not just machines; you can't just push a button and say, 'Okay, be creative,'" Alber Elbaz, former creative director of Lanvin, once said about the relentless pace of the industry. And, slowly but surely, we're seeing fissures in luxury's once-impenetrable armor: burnt-out designers, a higher turnover rate and more brands outsourcing their manufacturing to factories in other countries .
And if styles sell out from their two collections per year, then, they shrug, they'll be sold out. The two would rather take the time to craft a beautiful product than scale too fast or haphazardly slap something together — and by doing so, they hope to reteach consumers to slow down as well. Tamara Mellon had the foresight to pioneer direct-to-consumer luxury three years ago, when she launched her namesake shoe line in 2016 — five years after leaving Jimmy Choo, the brand she co-founded in 1996.
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