LUXURY IN THE MIDDLE EAST
Simon Woolford Simon Woolford

LUXURY IN THE MIDDLE EAST

In early 2023, Business of Fashion identified that during the year ahead the Middle East would offer the most promising growth prospects for luxury fashion of all global regions.

This impressive market evolution is accounted for by societal changes such as increased social freedoms, and a Gen-Z customer base increasingly in search of luxury brands.

It is also a result of government initiatives such as Saudi Vision 2030, whose ambitions are to enable the Kingdom to develop a thriving economy and a vibrant society that are not solely based on incomes from petroleum.

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ACCESSIBLE LUXURY – A NATURAL HOME FOR LAB-GROWN DIAMONDS
Simon Woolford Simon Woolford

ACCESSIBLE LUXURY – A NATURAL HOME FOR LAB-GROWN DIAMONDS

In the diamond jewellery category lies a conundrum.

While Bloomberg report that ‘prices are in free fall in one corner of the market’, this is not yet being seen across the whole industry.

The corner in question is focused on the more affordable one- or two-carat solitaire bridal rings, which are experiencing soaring demand among price-sensitive consumers.

Post-pandemic, they have been able to ‘splash out on travel and experiences’ as well as being able to buy a real diamond at a much cheaper price.

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GENERATIVE AI IN LUXURY. QUANTUM SHIFT, OR REALLY USEFUL TOOL?
Simon Woolford Simon Woolford

GENERATIVE AI IN LUXURY. QUANTUM SHIFT, OR REALLY USEFUL TOOL?

Since the launch of Chat-GPT, the use of AI and the news coverage about it, have spread like wildfire.

Among students at schools and universities it has taken on such incredible momentum as to have already become a totally unstoppable force, and has left educators across the globe grappling with their new reality.

We are also witnessing an intense race among Microsoft, Google, IBM to launch generative AI tools, with billions being spent by each. As time passes machine-learning will ensure that AI will only get better and better at the things it does.

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MODERN HERITAGE. HOW TO COMPETE IN A LUXURY MARKET DOMINATED BY CENTENARIAN BRANDS.
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MODERN HERITAGE. HOW TO COMPETE IN A LUXURY MARKET DOMINATED BY CENTENARIAN BRANDS.

In the world of luxury branding, heritage speaks volumes. We’ve written previously about how many of today’s leading luxury brands - such as Chanel, Louis Vuitton, Gucci, Hermes, and Prada - were established more than a century ago and have, over time, developed their own memorable legends and legacies. But what if your brand has been launched more recently, or perhaps is a startup due for launch in the coming months and has therefore not yet earned the passing of time in which to develop a long history?

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GEN-Z AND THE NEW FACE OF LUXURY
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GEN-Z AND THE NEW FACE OF LUXURY

This month saw the launch of a new Business of Fashion report: ‘Gen-Z and Fashion in the Age of Realism’.
It has all the hallmarks of an insightful, well-researched report that highlights the huge purchasing power of the huge 12 to 25 age group, the significance of fashion to them, and the impact of having been digitally native for as long as they can remember.

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HOW INCLUSIVE IS YOU EXCLUSIVE BRAND?
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HOW INCLUSIVE IS YOU EXCLUSIVE BRAND?

Let’s face it, luxury comes with a high price tag and is therefore by its nature, exclusive.

At the same time, you want your brand to be open to a fully diverse audience of consumers, irrespective of their gender, race, sexual orientation, physical abilities, age, or nationality. In this sense you want it to be inclusive.

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KORARU - CIRCULAR PACKAGING AS BRAND STATEMENT
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KORARU - CIRCULAR PACKAGING AS BRAND STATEMENT

In its role as Kōraru’s brand guardian, SUM was involved in numerous aspects of the launch of circular swimwear brand, from strategy to brand identity, and website design to campaign shoot.

As the project progressed, one of the most involving and exciting aspects became the creation of a range of new sustainable packaging formats, using new sources of 100% recyclable materials.

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LUXURY WITH A HUMAN TOUCH
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LUXURY WITH A HUMAN TOUCH

In an era focused on digital performance marketing and conversion rates, it’s easy to forget that not so long ago a luxury purchase tended to be accompanied by a high level of bespoke human service, with the retail store forming the stage on which that interaction invariably played out.

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LUXURY AT THE SPEED OF CHANGE
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LUXURY AT THE SPEED OF CHANGE

Before 2020, we were already seeing digital transformation, moves towards sustainable solutions, to ethical manufacturing, and the growth of eCommerce. But now, almost a year and a half since the start of the pandemic, those changes have accelerated, in some cases beyond all recognition.

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JING SPOKE WITH SIMON WOOLFORD OF SUM ABOUT THE EXPECTED RETURN OF CULTURAL INSTITUTIONS TO THE WORLD OF FASHION
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JING SPOKE WITH SIMON WOOLFORD OF SUM ABOUT THE EXPECTED RETURN OF CULTURAL INSTITUTIONS TO THE WORLD OF FASHION

It has now been over a year of global coronavirus-enforced social distancing restrictions, event cancellations, and temporary museum closures, all of which have contributed to a digital-first acceleration. Yet, notably, as fashion weeks have been forced online for the Fall ‘21 season, some leading luxury brands have streamed their virtual runways from within the closed doors of museums, theaters and galleries, allowing cultural institutions to retain their presence in public consciousness.

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RE-AWAKENING THE SENSES THROUGH IMMERSIVE INTERACTIVE BRAND EXPERIENCES
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RE-AWAKENING THE SENSES THROUGH IMMERSIVE INTERACTIVE BRAND EXPERIENCES

Not to put too fine a point on it, we have all been in a kind of solitary confinement for the last year.

In many ways this has led to a feeling of sensory deprivation. And as soon as the pandemic is over, we predict a new consumer mindset that craves immersive interactive experiences.

Let’s face it, we’ve had our fix of digital, and how nice it will be to once again have to have a physical meeting with a friend, a client, and indeed a brand.

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QUIET LUXURY
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QUIET LUXURY

Across the globe, luxury has been synonymous with status. Whether a person was wearing a Cartier bracelet, a pair of Balenciaga shoes, or holding a Gucci bag, they were announcing to those around them that they were part of a tribe. They were making a statement.

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MY NEW LUXURY BRAND IS SUSTAINABLE, ETHICAL, NATURAL, DIGITALLY-NATIVE, AND HAS A STRONG ECOM PLATFORM. SO, WILL IT SUCCEED?
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MY NEW LUXURY BRAND IS SUSTAINABLE, ETHICAL, NATURAL, DIGITALLY-NATIVE, AND HAS A STRONG ECOM PLATFORM. SO, WILL IT SUCCEED?

In BoF’s article ‘How Covid Is Catalysing a New Era of Luxury’, some encouraging projections for the return of the luxury consumer were made, specifically within the booming Ecommerce sector.

More recently the BBC has posed the question here , and Vogue Business has been redefining Sustainability for 2021 here.

These are just three of many thought-provoking pieces that look forward to a future of post-Covid consumerism, and one can conclude from them that your brand will need to own many or all of the traits covered in the title of this post.

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REDEFINING LONDON LUXURY
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REDEFINING LONDON LUXURY

London based startup Shaku is an emerging brand best known for its highly detailed botanical drawings on scarfs and accessories. The Shaku brand produces luxury accessories, homewares, candles and scarfs, all born from the love of drawing and nature.

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STARTING-UP IN A DOWNTURN
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STARTING-UP IN A DOWNTURN

There are two opposing schools of thought.

The first: You must be crazy. These days the consumer is not spending on fashion or luxury, and nobody really knows how things will shape-up in the future.

The second: There has rarely been a better time to plan the launch of a new luxury of fashion brand.

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