Luxury Daily, Dec. 21, 2020 – Bulgari’s Jean-Christophe Babin is 2020 Luxury Personality of the Year
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This year forced a number of challenges upon the luxury beauty industry, promptly reshaping how consumers will approach cosmetics.
Tech giant Google is rolling out a new feature in its update that will allow users to digitally try on cosmetic products through the search function on mobile devices.
Just 10 years ago, luxury fashion was a space for the primarily white elite. Front row seats at fashion shows were for legacy publication editors, advertising space featured impossibly thin, white models and stores were for well-heeled shoppers with deep wallets that could buy into the traditional luxury fantasy.
As female spending power rises and a greater share of that consumption is spent on products for women themselves, the slightly different female shopping habits become increasingly important.
Luxury Daily’s live news: LVMH honors most sustainable bricks-and-mortar locations; Fendi to present Kim Jones’ first couture collection next month; L’Oréal makes minority investment in social shopping platform Replika; WeChat Pay helps digitize retail in Europe; Luxury Daily debuts new conference focused on luxury real estate; Free Webcast on Dec. 16: Luxury Real Estate Outlook 2021.
French luxury conglomerate LVMH Moët Hennessy Louis Vuitton has revealed its retail spaces with the best environmental performance as part of its Life 360 sustainability strategy.
Italy’s Fendi has revealed that British designer Kim Jones will present his first couture collection for the fashion label in January 2021.
With housebound consumers around the world doing more high-end shopping online this year, luxury’s longstanding resistance to embracing ecommerce has dissolved as major online retail platforms, luxury groups and brands have rushed to invest in the space and ensure that they are not left behind.
Luxury brands including Gucci, Prada, Louis Vuitton and Moschino made their mark on pop culture in the 2010s, but may be losing some of their influence into the 2020s with the rise of streetwear and athleisure.