Design and luxury get new trends
In terms of design and luxury, the growing number of millennials and minimalism have created 4 newest trends that are able to change people’s lives. Here are those observations.
#1: Challenge from politics
Citizens all over the world all know the US- China trade war as well as Brexit in the United Kingdom. They affect the luxury industry a lot as countries only concentrate on developing local business. As a result, companies will use national materials and traditional artistries in order to manufacture products. On the other hand, designers will look for cooperative business strategies. Labels such as Gucci and Rimowa said that they would keep on bridging the national and racial barriers by collaborating globally.
In this situation, social media will become the primary tool with an aim to connecting and interacting between people and countries
#2: Less is more
In fashion, customers will prefer workmanship to fast or mass goods. Starck commented that because of being a creator and designer, a positive de-growth was his first priority. He also added that everything now needed to be at high quality as it would keep a product in long-term. In addition, experiences are appreciated, too. A French multinational luxury goods named Moet Hennessy Louis Vuitton has invested more than US$ 3 billion to own the Belmond hotel group so as to bring a holistic high-end experience for clients.
A report from McKinsey & Company has shown people see experiences more important than designer products.
Biofacturing is known as a production’ s system in which individuals create materials and objects by operating with nature. For example, Gavin Munro is revolutionizing furniture design by planting trees to sculpt into tables, chairs and more. Biofacturing encourages people to recycle raw materials instead of throwing rubbish on landfills in order to meet the required functionality of products.
Designer Gavin Munro is revolutionizing furniture design by planting trees to sculpt into chairs, tables, and more. He is growing tree furniture / Ph: pinterest
#4: Millennials and Muslims are shorten to M
According to a report from the 2016 State of the Global Islamic Economy, next year, Muslim will spend over US$ 320 billion on clothing. They also splurge money on beauty and travel, which accounts for US$ 213 billion and US$ 300 billion by 2021. Therefore, besides other ranges of customers, labels should target at Generation M from fashion, beauty to travel.
Overall, living in such a changeable society, it’s your job to care about what is going on around you. So, you should know the four key given by seminars above in order to find better ways to shape your future.
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