Transformation is a defining theme for the Luxury Personal Goods Market in 2018. This transformation encompasses not only the physical changes seen in the progressive designs, styles and representations of luxury fashion today, but also a deeper cultural shift happening inside even the most traditional luxury houses.
To maintain relevance with the powerful Millennial demographic, the sector is learning to pivot from the ultra-exclusive to a new kind of inclusive that emphasizes not only the brand, but also the individual consumer. There is more risk-taking happening in the sector, and while some initiatives have resonated more than others, these changes collectively illustrate luxury’s imperative to evolve.
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