Our five-pronged approach focuses on your individual strengths to develop your unique qualities towards making you an exemplary pi- designer.
Shraddha Kochar
23/08/2024
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Luxury fashion brands have long been setting fashion trends and showcasing style. In 2024, these brands are not just about opulence but are also leading the charge in sustainability, inclusivity and innovation. As per Statista, the luxury fashion market is estimated to experience an annual growth rate of 3.25% (CAGR 2024-2028) highlighting the enormous demand and influence of these brands on a global audience.
In 2024, luxury fashion brands represent an amalgamation of elegance and modern innovation. As fashion's elite brands rewrite the rulebook, from sustainable splendour to digital couture, they do not just set trends, they're defining them. As the luxury market continues its meteoric rise, these visionary brands are capturing the zeitgeist and attracting consumers with an unparalleled style, innovation and commitment to a more conscious future.
Luxury fashion has been emerging as a realm where heritage meets innovation. These five iconic brands have not only survived but thrived, shaping the industry's trajectory and inspiring generations of fashion enthusiasts.
Born in Florence, Italy, in 1921, Gucci began as a modest luggage atelier founded by Guccio Gucci.Over time, this humble enterprise blossomed into a global fashion empire. Renowned for its audacious designs and vibrant colour palette, Gucci's signature style is unmistakably defined by the iconic interlocking GG logo in red and green–a symbol of luxury recognized worldwide.
Gucci recently launched a new collection called "Off the Grid," designed using Econyl—a regenerated nylon made from abandoned fishing nets and gear salvaged from the oceans—which the brand first began using in 2016. Gucci has introduced eco-friendly materials such as organic cotton, recycled polyester, and biodegradable fabrics, focusing on sustainable luxury to reduce the environmental impact of its products.
Gucci has announced its newest collection called the MX Collection, named after the gender-neutral pronoun ‘MX.’ The collection celebrates non-gendered fashion and demonstrates creative director Alessandro Michele's ongoing effort to defy gendered expectations. Gucci continues to blur traditional gender lines with unisex collections that feature versatile pieces suitable for all genders.
Gucci is at the forefront of digital innovation, redefining the luxury experience. The brand blends tradition with technology, engaging audiences through immersive virtual fashion shows and interactive augmented reality platforms. This digital-first approach enhances customer engagement and creates unforgettable shopping journeys.
Gucci has also partnered with Snapchat to launch their first global augmented reality shoe try-on campaign on the platform. They created AR try-on lenses that allowed Snapchat users to see how Gucci sneakers looked on their feet. Needless to say, the collaboration was a huge success.
Gucci's focus on sustainability and digital innovation has raised the bar, encouraging other brands to follow. Their gender-fluid collections have also played a big role in promoting inclusivity and diversity in fashion.
Founded in 1854, Louis Vuitton is the epitome of French luxury. The brand's journey began with crafting innovative, durable trunks, a testament to its commitment to quality and craftsmanship. Over time, Louis Vuitton expanded its horizons to encompass ready-to-wear fashion, accessories and more, solidifying its status as a global fashion icon. The iconic monogram remains a symbol of timeless elegance and prestige.
Louis Vuitton has embraced the athleisure trend by launching high-end sportswear collections. These pieces combine functionality with luxury, catering to the growing demand for stylish yet comfortable clothing. Pop culture icons like Dua Lipa, Kendall Jenner, and Hailey Bieber have elevated Louis Vuitton's cycling suits to must-have status. As lifestyles evolve, luxury houses are increasingly investing in activewear, catering to the demands of modern consumers who seek style and comfort even in their daily routines.
The brand has made significant strides in sustainability by incorporating recycled materials and sustainable production methods into their collections. These initiatives, including the “Louis Vuitton Upcycling” program, are central to the brand's green marketing strategy, promoting circular fashion and minimising environmental impact.
Louis Vuitton has adopted a circular approach to preserve natural resources. The LV Trainer Upcycling sneakers are a recent example of this commitment. They are made using materials from the original LV Trainer models, maximising the use of existing resources.
The brand’s campaigns and runway shows have a diverse range of models, promoting inclusivity and representation. This further goes ahead with its product offerings which caters to a variety of body types and styles.
Louis Vuitton’s innovative approach to activewear and sustainability has made it a leader in setting new fashion standards. Their commitment to inclusivity has also influenced other luxury brands to adopt similar practices, promoting a more diverse and representative fashion industry.
Coco Chanel founded the eponymous fashion house in 1910, revolutionising the industry with her unparalleled elegance and sophistication. Renowned for timeless classics like the little black dress and the Chanel suit, the brand continues to embody Parisian chic and luxury.
Chanel has been focusing on eco-friendly materials and ethical production practices. Their sustainable collections highlight the importance of preserving the environment while maintaining luxury standards.
Three weeks ago, Chanel unveiled “Mission 1.5° Chanel’s Sustainability Blueprint,” aligning with the timeframe of the Sustainable Development Goals (SDGs). This initiative underscores Chanel's commitment to combating global warming by reducing its carbon footprint across operations. The new targets include a 40% reduction in supply-chain emissions per product sold by 2030, or a 10% reduction on an absolute basis. Beyond carbon reduction, Chanel is investing in nature-based solutions, such as forest, mangrove, and peatland conservation, and supporting climate change adaptation among vulnerable communities.
Chanel as a brand embraces gender neutrality where designs caters to all genders. This includes tailored suits, oversized outerwear, and versatile accessories that transcend traditional gender boundaries. There are some instances where gender-neutral oversized jackets have been worn by men. This gender neutral concept isn't new for Chanel. It pioneered what used to be called unisex in 1918.
Chanel has advanced its digital marketing strategies and virtual fashion experiences. The brand’s virtual try-on features and interactive online content provide an engaging and personalised shopping experience. The French luxury brand is targeting millennials in the luxury industry by creating content on social media. In March, the French house opened a pop-up titled "We Love Coco Beauty House" in Los Angeles. A dedicated space for makeup, was opened to celebrate the launch of @welovecoco, an Instagram account featuring selfies and photographs taken by fans of the brand’s beauty collection.
Chanel has also opened a free virtual lipscanner app which allows anyone to scan their surroundings for a colour they like, then matched that colour to a shade of Chanel lipstick which can be tried virtually and purchased through the application.
Chanel’s emphasis on sustainability and inclusivity has set a benchmark for other luxury brands to follow. Their innovative digital initiatives have also inspired the fashion industry to embrace technology and enhance the consumer experience.
Established in 1913 by Mario Prada, the brand is renowned for its minimalist yet sophisticated designs. Prada’s innovative use of materials and contemporary aesthetics have set it apart as a fashion leader. The brand’s commitment to craftsmanship and quality is evident in its ready-to-wear collections, accessories, and footwear.
Prada has adopted sustainable fashion, using recycled materials, organic fabrics, and ethical production methods. Their sustainability initiatives include the "Re-Nylon" project, which focuses on creating products from recycled nylon.
This “Re-Nylon” project is recycling and purifying plastic collected from oceans, fishing nets, landfill and textile fibre waste globally. Then, through a process of depolymerization, purification and transformation, they become new polymers and then eventually threads, which can be recuperated and made into new nylon fabric.
This process demonstrates the circular fashion idea perfectly and presents a new form of luxury. For Prada, this forward-thinking ethos is central to its house codes as it showcases its flair for invention, experimentation and progress thanks to a revolutionary new material and a radical proposal to reinvent the past.
Prada has integrated technology into fashion with smart fabrics and wearable tech. Their digital initiatives include virtual fashion shows, introducing RFID, personalised shopping experience, interactive online content, and augmented reality experiences that enhance the consumer’s shopping journey.
Prada when it ventured into the cosmetics and fragrance segment with the launch of Paradoxe perfume, they did a campaign featuring Emma Watson by introducing the Prada Paradoxe, an AR pop-up store which revolutionised the luxury marketing landscape.
Prada’s unisex collections challenge traditional gender norms with versatile and androgynous designs. These pieces reflect the brand’s commitment to inclusivity and modernity. Prada's Spring/Summer 2024 Milan Men’s Fashion Week show, titled “Fluid Form,” showcased a memorable collection influenced by futurism and interactive science. The collection featured sleek, minimalist designs with a futuristic edge, blending traditional tailoring with innovative materials and techniques.
Highlights from the show included structured jackets and pants made from sustainable, high-tech fabrics, alongside fluid, draped garments that defied conventional gendered silhouettes. The use of metallic finishes and geometric patterns added a touch of sci-fi allure, while interactive elements like heat-sensitive fabrics and dynamic, colour-changing accessories captivated the audience.
Prada's "Fluid Form" collection not only pushed the boundaries of fashion but also reinforced the brand's commitment to breaking down gender barriers and embracing a forward-thinking approach to design.
Prada’s innovative approach to sustainability and technology has influenced many other brands. Their gender-fluid collections have also contributed to the broader movement towards inclusivity and diversity in fashion in not just west but across east including India.
Founded in 1917 by Cristóbal Balenciaga, the brand is known for its avant-garde designs and cutting-edge fashion. Balenciaga’s bold silhouettes, experimental styles, and innovative materials have made it a trailblazer in the fashion industry. The brand’s emphasis on pushing boundaries and redefining fashion norms has garnered a dedicated following.
Balenciaga has embraced eco-friendly materials and production methods, including recycled fabrics and sustainable sourcing. Their commitment to sustainability is reflected in their environmentally conscious collections.
Balenciaga has committed substantial additions Sustainability took centre stage with the debut of LUNAFORM, a lower-impact leather alternative designed exclusively for Balenciaga. This marked a significant step in the brand's commitment to eco-conscious fashion.
Balenciaga’s high-fashion sportswear combines functionality with avant-garde design. These pieces cater to the fashion-forward consumer who values both style and performance.
The items were straightforward shorts, bra tops, leggings and sweatshirts. New versions of the suit suggest low slung trousers- low enough to show the undergarment beneath it and a cropped hooded jacket alongside that Alaska boots.
The brand has pioneered virtual reality fashion shows and digital collections, offering immersive and interactive experiences. Their digital initiatives enhance the way consumers engage with the brand and its products.
For their 2024 collection they created an immersive art installation mashing-up images inspired by nature with digital backgrounds inspired by Iceland, Greenland, Montana, the Sahara Desert, and the Scottish Highlands that transformed by the end of the show into representations of the digital world.
Balenciaga has emerged as a leading case study in luxury brand management, demonstrating the power of digital platforms in reaching and engaging a younger consumer base. The brand's strategic use of social media and e-commerce has propelled it to the forefront of the luxury fashion industry. While its innovative and often provocative designs have solidified its status as a trendsetter, the brand's approach to sustainability remains an area for growth and development.
In 2024, top luxury fashion brands are focusing on sustainability, inclusivity and digital innovation. Brands like Gucci, LV and Chanel are adapting sustainable practices, using eco-friendly materials. Inclusivity is also a major trend amongst brands like Gucci and Chanel. And brands like Balenciaga are leveraging digital marketing strategies and virtual fashion shows for an overall personalised shopping experience.
In conclusion, as consumer expectations evolve, brands must adapt to stay relevant. By prioritising these factors, these luxury houses are not only securing their positions in the market but also shaping the future of fashion. The Indian luxury market, in particular, offers immense potential for growth and influence, as global brands continue to invest and engage with the discerning Indian consumer.
- Did you enjoy reading about the 2024 fashion trends? Expert author Shraddha Kochar offers insights around several such topics in fashion and fashion management. She offers a deep dive into the eight most influential trends showcased at the Lakme Fashion Week 2024.
- Passionate about fashion. Hop along on this journey of celebrating iconic women fashion designers who influenced and revolutionised how we dress today.
- Delhi-based award winning institution IIAD hosted its first luxury symposium discussing with industry leaders on the future of the Indian luxury ecosystem which got a lot of coverage in top Indian media outlets. Read ahead to find out.
Shraddha Kochar is a Delhi native, having been born, raised and educated in the city. With over seven years of experience in the fashion industry, she has cultivated a diverse professional background encompassing startups, national brands, e-comme ... rce, exports, and the education sector. Kochar enjoys exploring new places, particularly for culinary discoveries. Her journey into the education sector was unexpected, yet fulfilling, and she has since developed a passion for the field. With interests spanning fashion and lifestyle brands, fiction, fitness, personal finance, and philosophy, Kochar strives to be a conscious and aware individual, aligning her life with the 17 Sustainable Development Goals.
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