ClickZ Luxury Fashion Newsletter - 08.22.2024

PLUS: Unexpected Trends from Copenhagen Fashion Week

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ClickZ
August 22, 2024 • Estimated Reading Time: 5 minutes

Specialty Bites 🍪

LVMH's sponsorship of the Paris 2024 Olympics marked a significant moment for luxury brands in mass sporting events. Announced as a "Premium Partner" alongside other French giants, LVMH's $150 million investment seemed minor compared to its $86.2 billion revenue in 2023. The sponsorship aimed to showcase French savoir-faire through iconic Maisons like Berluti, Chaumet, Dior, Louis Vuitton, Moët Hennessy, and Sephora. However, the execution fell short of expectations. The opening ceremony, ambitious yet lacking a clear vision, failed to present France as a contemporary creative powerhouse. Louis Vuitton's involvement, including medal cases and uniforms, appeared clunky and out of place.

Despite high hopes, the brand's presence was not as impactful as anticipated. Strict promotional rules and the International Olympic Committee's decision to cut an LVMH advertisement from the opening ceremony further limited visibility. The French Olympic team's Berluti sportswear was obscured by plastic ponchos, and the closing ceremony offered little excitement. LVMH's overexposure alongside mass brands like Airbnb and Coca-Cola came at a challenging time, with luxury sales slowing.

In hindsight, LVMH might have benefited from focusing on a single brand or treating the sponsorship as philanthropy, akin to Bernard Arnault's donation to Notre Dame. While the Paris 2024 Olympics boosted tourism, its effect on LVMH's luxury brands remains debatable.

Copenhagen Fashion Week showcased unexpected trends like bandanas, supersized scrunchies, and trail shoes. Attendees favored flats and bicycles over heels, and enjoyed sparkling tea and biodynamic wine. The event highlighted eclectic accessories, chic pastries, and versatile PJ sets, reflecting a blend of casual and sophisticated styles.

Bloomingdales partners with Rebag to offer pre-owned luxury accessories online and in five U.S. stores. This collaboration features over 2,500 items online and 500 in-store, enhancing Bloomingdales' luxury retail experience. Rebag's AI tool, Clair, aids in item valuation, reflecting the booming secondhand market's growth.

Ba&sh, a B Corp-certified French fashion brand, aims to reduce water consumption and pollution by 2030. Key initiatives include using certified materials, conducting environmental audits, and implementing water-efficient processes in leather tanning and denim washing. The brand's ambitious sustainability strategy underscores its commitment to environmental preservation.

Performance Platters 🍽️

Louis Vuitton's star-studded TikTok strategy has amassed over 14 million followers, while Trio Beauty leveraged TikTok Shop's BFCM campaign to offer its award-winning products at unprecedented discounts, showcasing TikTok's power for both luxury and emerging beauty brands.

Brands are rapidly adopting viral internet phrases like "very demure" to stay culturally relevant. While this can boost engagement, experts caution that not all brands should follow suit. Successful integration requires alignment with brand identity and consumer ethos, ensuring authenticity and avoiding the risk of seeming out of touch.

Gen Z is increasingly using Pinterest for shopping inspiration, making it a crucial platform for brands targeting this demographic. Pinterest's user base is growing, with Gen Z being the fastest-growing segment. Brands like American Freight and Bis are leveraging Pinterest's features to boost engagement and sales.

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