Rise in luxury brands partnering with streetwear: Report

26 Dec '17
2 min read

There is an increase in the number of luxury brands taking style inspiration from streetwear and incorporating sportier and casual urban aesthetics into their designs, says a recent report. Luxury brands are adapting to changing times and striving to connect with a younger and diverse customer base, grooming the next generation of loyal luxury customers.

Luxury brands and retailers are establishing exclusive design and marketing collaborations with streetwear labels, hip-hop and rap recording artists and entertainers, and fashion and social media influencers, says 'Luxury Meets Streetwear' report by Fung Global Retail Tech, a research and advisory firm.

Several luxury goods labels have profited from hip-hop and streetwear-inspired collections over the past few seasons. Multiple luxury fashion houses, as well as the Louis Vuitton and Givenchy brands, have been partnering with streetwear brands and introducing sneaker- and streetwear-inspired products.

Multiple luxury fashion houses, as well as the Louis Vuitton and Givenchy brands, have been partnering with streetwear brands and introducing sneaker- and streetwear-inspired products. Louis Vuitton partnered with the Supreme skateboard brand on a design collaboration that apparently generated €100 million ($117 million) in sales. The collection, which was sold in pop-up stores in major cities worldwide in June 2017, included T-shirts, hoodies and bags emblazoned with Supreme’s white logo on bright red Louis Vuitton patterns.

"The historically conservative luxury goods industry is striving to attract a more diverse and younger client base. We believe that luxury goods companies will increasingly need to innovate and keep up with millennial and Gen Z trends in order to capture and grow sales among the younger generations," the report stated. (RR)

Fibre2Fashion News Desk – India

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