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Growth of USD 13.36 billion for the sleepwear and loungewear market to 2025

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NEW YORK, January 11, 2022 / PRNewswire / – The report “Sleepwear and Loungewear Market – Competitive Analysis, Drivers, Trends, Challenges and Five Forces Analysis” has been added to Technavio’s offering. 44% of market growth will come from APAC during the forecast period. China and India are the key markets for sleepwear and loungewear in APAC. Market growth in APAC will be faster than market growth in other regions. The increased introduction of global brands and adoption of premium sleepwear and loungewear will facilitate the growth of the sleepwear and loungewear market in APAC during the forecast period.

Attractive opportunities in the Nightwear and Loungewear Market by Product, Distribution Channel and Geography – Forecast and Analysis 2021-2025

The nightwear and loungewear market is expected to grow by $ 13.36 billion from 2020 to 2025, growing at a 6% CAGR according to Technavio’s latest market research report.

For additional regional insights into the Sleepwear and Loungewear Market – Download a Free Sample Report Now!

Market dynamics

Factors such as demand for designer and high-end sleepwear and loungewear and demand for sleepwear and loungewear in developing countries will be crucial to stimulate market growth. But the presence of counterfeit products will limit market growth. The sleepwear and loungewear market analysis report also provides in-depth information about other upcoming trends which will have a considerable effect on the market growth.

Company Profiles

The nightwear and loungewear market is fragmented and suppliers are deploying growth strategies such as offering personalized clothing and wholesaling products through electronic auctions to be competitive in the market. The Sleepwear and Loungewear Market report includes information on product launches, sustainability, and outlook for key vendors including Authentic Brands Group LLC, Chantelle Group, H&M Hennes & Mauritz AB, Hanesbrands Inc., L Brands Inc., PVH Corp., Ralph Lauren Corp., MASH Holdings Co. Ltd., American Eagle Outfitters Inc. and Wacoal Holdings Corp.

Supplier information and news

  • American Eagle Outfitters Inc. – In February 2019, the company has extended its American Eagle and Aerie brands through Europe with a multi-year license agreement with AEO EU

  • H&M Hennes & Mauritz AB – In January 2019, the company announced the launch of its COS brand in Reykjavík, Iceland.

  • PVH Corp. – In june 2019, the company and G-III Apparel Group Ltd. announced today that Calvin klein, its subsidiary, and G-III have entered into an initial license agreement of five years for the design, production and distribution of Calvin Klein jeans women’s jeans collections in the United States and Canada.

Additional Information on 20 Other Providers and Their Offerings – Download a Free Sample Report Now!

Competitive analysis

The report includes Competitive Analysis, a proprietary tool to analyze and assess the position of companies based on their Industry Position Score and Market Performance Score. The tool uses various factors to categorize players into four categories. Some of these factors considered for the analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc.

Market segmentation

  • Through Product, the market is classified into nightwear and loungewear.

  • Through Distribution channel, the market is categorized as offline and online.

  • Through Geography, the market is APAC classified, Europe, North America, South America, and MEA.

Related reports –
Compression Clothing and Underwear Market –The size of the compression garment and fitness garments market has the potential to grow by USD 697.13 million during the period 2020-2024, and the market growth momentum will accelerate at a CAGR of 2.54. %. Download a free sample now!

Maternity Clothing Market – The maternity wear market has the potential to grow by USD 2.91 billion during the period 2021-2025, and the market growth momentum will accelerate at a CAGR of 3.23%. Download a free sample now!

Scope of the nightwear and loungewear market

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Accelerate to a 6% CAGR

Market growth 2021-2025

$ 13.36 billion

Market structure

Fragmented

Annual growth (%)

5.28

Regional analysis

APAC, Europe, North America, South America and MEA

Efficient contribution to the market

44% APAC

Main consumer countries

United States, China, India, Germany and France

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Authentic Brands Group LLC, Groupe Chantelle, H & M Hennes & Mauritz AB, Hanesbrands Inc., L Brands Inc., PVH Corp., Ralph Lauren Corp., MASH Holdings Co. Ltd., American Eagle Outfitters Inc. and Wacoal Holdings Corp. .

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period,

Customization

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

About Us

Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable information to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000 and more reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

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Technavio research
Jesse maida
Communication and Marketing Officer
United States: +1 844 364 1100
United Kingdom: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

Technavio (PRNewsfoto / Technavio)

Technavio (PRNewsfoto / Technavio)

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5 Best After Christmas Selling Deals For Buyers

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iStock / Getty Images

Even as rising inflation drives up prices, there are still offers for savvy buyers who want to start the year off with a few good deals.

“November and December are in the spotlight, but January is one of the best times for shopping, especially if you’re shopping in the home category, or for fashion or beauty items,” says Kristin McGrath, expert in shopping and editor-in-chief of RetailMeNot. , a coupons and offers company.

Read on for an overview of the types of products that shopping experts say retailers tend to stand out this time of year.

1. Sheets and towels

Stores have moved away from the term “white sales” widely in recent years, but the tradition of cutting back on bed and bath essentials in January remains. “Now they call them ‘clearance events’ or ‘home savings events’, but these are the white sales of yesteryear,” says McGrath.

Where to find offers: Bath & Beyond bed, Crate & Barrel, Macy’s

Potential savings: 20 to 70 percent off

2. Televisions

As retailers try to get shoppers to buy a new set before the Super Bowl in February – and to empty stocks before new models ship in the spring – they are pricing their current models more competitively. . An analysis of seasonal sales trends by NerdWallet, a financial products and advisory company, found the end of January to be one of the best times of the year to strike a deal on a television.

Where to find offers: Best Buy, Walmart, Target

Potential savings: $ 100 to $ 300 retail rebate


The rich simply won’t stop buying Rolls-Royces

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It has been a difficult year for the world. Well, two years, really. But all is not catastrophic, for the unbelievably rich can always buy whatever their heart desires, and what they want, are Rolls-Royce cars and SUVs. The BMW Group-owned automaker announced Monday morning that 2021 was its best year in terms of outright sales. Why? Mainly because they are fantastic machines that define status, but also because what better place to watch the world burn than from the backseat of a Rolls?

According to Rolls-Royce, sales increased 49% in 2021 compared to 2020, showing that the ultra-luxury segment of the auto industry has made a full recovery, and more. This represents a total of 5,586 vehicles delivered worldwide, which is the highest number ever delivered by the famous British company in its 117 year history. The figure is also representative of all-time record sales in key regions, such as the Americas, Asia-Pacific and Greater China, according to the company.

Demand has been particularly strong for the all-new Rolls-Royce Ghost in Black Badge, as well as the Cullinan SUV, for which customers are spending particularly dearly through customization programs, even by Rolls-Royce standards. It also highlights another lucrative area for Goodwood: bespoke commissions. 2021 saw bespoke orders reach record highs, with the automaker highlighting several special versions, including one co-created with famous luxury brand Hermès. Oh, and there was also the Boat Tail commissioned by none other than Beyoncé and Jay Z.

Interestingly enough, a lower level of the super-rich (or those who didn’t want to wait for their own custom versions) also made some big purchases last year, as the Rolls Provenance program, which is essentially Rolls-Royce Certified Pre-Owned —Also recorded record sales of used vehicles last year.

“It has been a truly historic year for Rolls-Royce Motor Cars,” said Torsten Müller-Ötvös, President and CEO of Rolls-Royce. “In 12 months we had our highest annual sales our Black Badge family, stunned the world with our bodybuilding capabilities and made huge strides in our all-electric future. As always, it has been delivered. made possible by the amazing people of the Rolls-Royce House, our international team and our global dealer network. ”

What does it mean for the global auto industry that people are buying tons of Rolls-Royces? It’s likely that, despite being over a century old, the ultimate luxury brand not only survives, but thrives. Rolls-Royce has sold more than any other automaker in the $ 300,000 and up segment, which isn’t exactly the mass market, but it’s an incredibly lucrative area of ​​the industry if you can. ‘monopolize.

The next step for Rolls (in addition to significantly more sales as orders now span almost a year) is the launch of its new electric vehicle, the Specter, which will be unveiled later this year and is expected to arrive. on the market in 2023.

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On track to become a prime year for retirement income options

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Managers of defined contribution plans “have a pretty long memory of the insurance products that imploded in the 1990s,” said Michael J. Francis, chairman of Francis Investment Counsel LLC, Brookfield, Wisconsin, a provider of investment advisory and financial welfare services. “They’ll never put all of their eggs in one basket with even the highest rated insurance company ever again.”

Although some current and recent plan products are backed by several insurance companies, Francis said low interest rates make plan annuities less desirable.

“Locking up for 30 years now doesn’t attract them,” he said. “Advisors struggle to balance safety and returns” when evaluating retirement income products.

If the retirement income in the plan is to become a DC staple, he added, it must start with large plans using target date series as the base with products backed by multiple insurers.

And don’t forget the impact of COVID-19 on the decision-making of sponsors. “COVID has slowed everything down in terms of benefits,” Francis said. “With COVID, they have bigger fish to fry.”

DC consultant Robyn Credico said her clients have not shown much interest in retirement income products in the plan.

The demographics of the workforce weigh heavily on sponsors’ decision-making regarding retirement income products, she said. “If people stay there for three or four years, it doesn’t make a lot of sense,” said Ms. Credico, Las Vegas-based defined contribution board manager for Willis Towers Watson. Sponsors considering such options should ensure that their archivists are able or willing to support such products on their platforms, she added.

Another reason promoters are slow to adopt retirement income options is the lack of a common language among the many products or strategies they must evaluate. The definition of retirement income “is everywhere,” Mr. Ungerman said.

“The biggest barrier to plan-level success is the need to train sponsors and advisers,” said Michelle Richter, director and founder of Fiduciary Insurance Services LLC, New York, a registered investment advisory and advisor. “Trustees need a standardized process.”

To address this issue, Ms. Richter worked with several insurance, benefits, and financial technology companies to develop a standardized methodology for valuing lifetime income. The group includes Cannex Financial Exchanges Ltd .; Fi360, a unit of Broadridge Financial Solutions Inc .; AllianceBernstein; Nationwide mutual insurance company; Allianz Life Insurance Co. of North America; and Income America LLC.

Trustee advisers “do not have access to an agreed-upon standardized methodology on how to translate the value of a life income stream into an asset-based number, and vice versa,” Ms. Richter said.

“If you cannot calculate, in a standardized way, the value of benefits, then it may not be possible to know whether an annuity is or is not ‘expensive’,” she said. “It gives the impression that all annuities are expensive because the cost of lifetime income protection is inherently greater than the cost of not having that protection.”

Ms Richter said she hoped to provide more information on the group’s efforts in March. Once the framework was established, she predicted that it would take two years to develop the standardized process.


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Vietnamese manufacturer of corporate and work clothing in the market of Europe, America, Asia and the Middle East

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Manpower suppliers and distributors around the world have found a source of high quality apparel at manufacturer direct prices as the company continues to aggressively expand into new markets

Vietnam Clothing Manufacturer continues to be a strong exporter of uniforms even with global supply disruption

Vietnam Clothing Manufacturer continues to be a strong exporter of uniforms even with global supply disruption

Dony Garment offers free samples, trial orders, wholesale wholesale and promises to deliver 100% sterilized masks with full ownership of quality.

Dony Garment offers free samples, trial orders, wholesale wholesale and promises to deliver 100% sterilized masks with full ownership of quality.

DONY GARMENT, one of the leading B2B clothing manufacturers in Vietnam, has grown into a global supplier of uniforms, workwear and promotional clothing across the world.

Dony Garment focuses on time, quality and price metrics, the mission is to create maximum benefit for each client while helping shareholders, employees and the company in a meaningful way.

– said Pham Quang Anh, CEO of Dony Garment

HO CHI MINH, VIETNAM, Jan 9, 2022 /EINPresswire.com/ – DONY GARMENT is a global clothing supplier and manufacturer from Vietnam. They specialize in manufacturing private label apparel including corporate uniforms, work wear, and promotional apparel for businesses around the world.

“This year, we have found that many international buyers are looking for new suppliers based in countries other than China and Thailand to purchase many goods and products, including uniforms, work clothes, reusable cloth masks, protective clothing and promotional clothing.
At Dony Garment, we are proud to welcome international customers, especially those based in USA, Canada, Middle East, Japan and EU market to experience our professional production line. factory in Vietnam.
We guarantee that our products are of the highest quality, at an affordable cost and easy to transport around the world, ”said Pham Quang Anh, CEO of Dony Garment.

DONY GARMENT, one of Vietnam’s leading B2B clothing manufacturers, has grown into a global supplier of clothing to customers all over the world. The company specializes in the manufacture of high quality work uniforms, safety clothing and work clothing.

As a global leader in the manufacture of clothing, DONY GARMENT is expanding its clothing and apparel market for corporate products to countries around the world. “DONY GARMENT is currently entering the markets of Europe, America, Canada, Japan, Korea and the Middle East to meet the market demand for high quality and customizable uniforms for staff and work wear. . And in the near future, we aim to become one of the best private label clothing manufacturers for a global fashion brand, ”said Pham Quang Anh, CEO of DONY GARMENT.

Since its discovery, DONY GARMENT has taken on every challenge to meet the clothing needs of customers around the world for all types of work, including. health and beauty, safety, work clothes, hotels and restaurants, business, sport, children.

“We try to cover all the bases when it comes to ensuring that each of our business partners has complete confidence in our company, our product and our ability to deliver an amazing product at wholesale prices,” said Pham. . “We offer free samples, trial orders, and branding opportunities with logo and label service available. This is great for the business unit or for promoting a brand.

Even during a pandemic, DONY GARMENT, which is located in the heart of Ho Chi Minh City, Vietnam, is able to produce various types of clothing, such as work clothes for restaurants, offices, promotional events, institutions, sports, labor protection clothing, health care, etc. Their excellent performance, quality certification, and sophisticated equipment have made DONY GARMENT a Vietnamese leader in providing custom branded workwear and uniforms for companies around the world.

The DONY GARMENT factory uses sophisticated equipment, including 4 sewing lines, with 60 different sewing machines and craftsmanship. Their workshop has 4 screen printing tables, 12 different embroidery machines and 3 thermal transfer printers. In addition, the DONY GARMENT factory is able to produce more than 100,000 products per month, including T-shirts, shirts, coats and jackets, caps and hats, aprons and high visibility clothing.

Besides producing uniforms and work clothes for a company, DONY GARMENT also produces top quality anti-bacterial cloth masks which have been delivered to major countries around the world like USA, Australia, UAE United, Canada, Saudi Arabia, New Zealand, Belgium, Malaysia, Kuwait, Oman. , Japan, Singapore and Bahrain.

The Dony Premium antibacterial fabric mask is washable and reusable. It is CE, FDA and TUV Reach certified. It is made from a three-ply fabric that is 99.9% water resistant and antibacterial, meeting some of the strictest standards in the world. The outer layer of the mask has high water resistance, which prevents droplets from clinging to the mask and limits the potential for viral infection. The middle layer works like a filter. The inner layer has the most antibacterial effects. It is breathable design.

“Instead of being just a number on a sales page, we think of our customers as longtime friends,” Pham said. “Instead of thinking about the bottom line of every transaction, we’re committed to building a lifelong relationship with every customer. We work tirelessly to ensure that the best result is the result of every transaction. “

About DONY GARMENT:
Dony Garment Company was founded with the vision to be the best clothing supplier in Vietnam. By focusing on time, quality and price metrics, the mission is to create the maximum benefit for each client while helping shareholders, employees and the company in a meaningful way.

The company is committed to delivering high quality and on time products. Plus, they offer a 100% money back guarantee if they miss the deadline or have poor quality products.

DONY GARMENT invites companies all over the world to use their products, as the company has various quality certifications such as ISO 9001 – 13485 – 14001, FDA, CE, DGA, TGA, aseptic inspection, etc.

The range of clothing includes t-shirts, button-down shirts, jackets, pants, skirts, hats, face masks, personal protective equipment and pieces of work protective uniforms.

For more information about DONY GARMENT and its products, please visit their official website at https://garment.dony.vn/.

Mr. Henry Pham
Dony Garment Company – DONY MANUFACTURING COMPANY LIMITED
+84 938842123
[email protected]
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Supplier of high-end antibacterial masks (washable, reusable) for Covid

Sharp Increase in UK Post-Christmas Returns Reveals Dark Side of Online Shopping Boom | Online shopping

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It all started with a hooded tracksuit worth under £ 30. The junk article, processed online at midnight a second on Christmas Day because it was too bulky, was the first in a torrent of festive returns for ZigZag Global, a company specializing in handling online returns.

In one hour, 709 products were returned online via ZigZag; at 3.51 a.m., a £ 99 off-the-shoulder dress was the first item to be dropped into an InPost locker, and when newsagents started opening at 10 a.m., queues began to drop into an InPost locker. started training at counters to return unwanted items.

Shoppers returned more merchandise than ever over Christmas as the cancellation of the holidays, returning to work from home, and switching to online shopping resulted in a huge amount of junk merchandise.

Since Christmas, returns have increased 24% from the previous year, according to ZigZag, who works with Boohoo, Selfridges and Gap. Returns specialist ReBound saw even higher demand, with returns in December 40% higher than the previous year.

With up to half of the clothes purchased online returned to some retailers, the whole process is expected to cost businesses around £ 7 billion a year, according to a 2020 study by consultancy firm KPMG. Measuring environmental costs is tricky, but the transportation, storage and disposal of items that cannot be resold because damaged or dirty can weigh heavily on brands’ carbon footprints, and raise troubling questions about the dark side of the Internet. sales boom.

Anita Balchandani, of consultancy McKinsey, says managing the flow of returned goods is a ‘sustainability imperative for the industry’, not just looking at the impact of ‘last mile’ delivery to and from homes – but also what happens to an item that is no longer wanted.

While the percentage of items returned by online shoppers declined at the start of the pandemic, it has since increased as trends have changed: The easy-to-slip tracksuits, popular in the early days of telecommuting, have been ditched in favor of profit. from more structured items like suits and dresses, thanks to the return of weddings and office work. Last month, online fast fashion specialist Boohoo was forced to lower its sales and profit expectations, in part because of the change in habits.

About 15% of electrical devices returned after being purchased online are disposed of, according to a major reprocessor, because they are not repairable or not worth repairing or cleaning. Each brand or retailer has a different SKU, but since it costs up to £ 20 to reprocess each item, many returns cost retailers money. Many small products, unless they are still intact in their original packaging, will never be reused.

Considerable effort is involved in handling returns. Checking that the goods are in good working order, clean and that any software has been erased from images or personal data, must be done manually and is a long and sometimes delicate process. While some brands provide reprocessors with free parts to fix defective items and prevent them from going to landfill, others do not.

A large, expensive item, like a washing machine or even a food processor, is likely to be checked, repaired, and resold – possibly through an auction site like eBay – for 15% or 20% less than its asking price. by retail.

But the best that can be expected from most broken or used hair clippers or electric toothbrushes is that they be taken apart for recycling.

Cosmetics are another delicate area. Unless they are completely intact and in their original packaging, resale is not possible due to the risk of hygiene.

About 80% of returned garments are likely to be resold without major work – perhaps requiring rewrapping or steam ironing. Of the rest, most can be reprocessed, but around 5% are likely to be deemed unfit for resale, either because they are too damaged or because they are potentially unsanitary, such as underwear or worn out swimwear.

Items that have clearly been in the evening, have the labels removed, or are marked with cosmetic products may not be easily rearranged for sale by the original retailer and, again, the value of that item will influence the decision to put it through a cleaning or repair process or abandoned.

Al Gerrie, Managing Director of ZigZag Global, says, “Fast fashion has a lifecycle of around six weeks. If he spends three or four weeks in the store, he loses value during this time and, if he cannot return [in time], it will be less attractive or unsaleable. If this is a Christmas-themed post, you might have to wait until next year.

Many unwanted items can be sold in bulk to charities or resellers who repair them or then reuse them for sale on eBay or Depop.

For the rest, the vast majority of large retailers now send these unwanted items to charity or for recycling, but a proportion would still be burned or sent to landfill despite the furore over such a practice in recent years.

However, the pressure to adopt a more sustainable behavior and reduce costs is pushing retailers to reduce the amount of unwanted products.

Laura Gee, of another ReBound Returns Specialist, says: “Brands are on a learning curve. They get better at [reprocessing] because buyers are increasingly concerned with sustainability.

Tech companies like ZigZag and ReBound help retailers more closely track returned items, monitoring the reasons a sale went unsuccessful and making decisions about where and how to reprocess merchandise without necessarily bringing them all back. in the UK, if sold overseas.

Last year eBay said it saw an increase in the number of retailers setting up their own online stores to eliminate unwanted products and seconds.

Other techniques to reduce return rates include posting customer reviews indicating the size of an item of clothing, using avatars to allow a virtual try-on on a dress, or encouraging customers to return a dress. item in a store where they can pick up and try the alternative. .

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ZigZag’s Geerie says, “Even fast fashion retailers are increasingly aware of corporate social responsibility and are more sustainable and try to recoup product whenever possible. It’s a change in the market for good but not cheap, they are definitely losing money on some products. “

The change is partly driven by the threat of legislation. In France, companies must monitor what happens to unsold items and from this month onwards it is forbidden to destroy them. Other European countries are expected to follow suit.

In the UK, charities have called for an anti-waste law to be introduced after Amazon was forced to refuse to send household items such as laptops and televisions to landfill after employees left behind. been filmed by ITV last year placing these products in boxes labeled “destroy”. . The company said the items were donated or recycled.

Balchandani says better consumer education on the effects of a more selective purchasing will be key to reducing the unnecessary carousel of returned goods.

“In a world where consumers are increasingly aware of their carbon footprint, I don’t think brands talk enough about how you consume in a more thoughtful way,” she says.


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Luxury brands study personas to try to stay relevant

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Luxury buyers are getting younger, not only in Korea but around the world.

According to a report by Bain & Company, the proportion of luxury consumers born in the late 1990s and 2000s, otherwise known as Gen Z, doubled last year to 17%. , up 9 percentage points from 2019. Millennials, those born in the 80s and mid-90s, made up almost half of the global total at 46%, up 12 percentage points from compared to the previous year.

The consulting firm estimated that by 2025, seven in ten luxury buyers will be under the age of 40.

In order to better understand their growing consumer base, luxury brands are adapting a concept called “persona” to better visualize their customers, instead of categorizing their customers with broad demographics such as age and gender.

When creating a persona, the company creates a fictional character representing its target customers, combining multiple identity factors such as gender, age, nationality, economic status, and hobby.

“The new generations are extremely diverse in their makeup,” said Claudia D’Arpizio, partner at Bain & Company, in an interview with the Fashion Network media outlet, explaining that the personalities of key target consumers are now completely different from that of the past. .

So what exactly is a persona in the luxury market?

“We concluded at our year-end meeting that the luxury industry cannot survive without the younger generation, the internet and a progressive brand identity,” said an industry insider for one brand. French luxury operating in Korea, which wished to remain anonymous.

The “younger generation” refers to people in their late teens through their thirties, while “Internet” here means the digital experience on both online and offline market platforms. “Progressive brand identity” includes the company’s image of respecting the environment, accepting diversity and upholding ethical business practices.

The Bain & Company report suggested that the most notable buyers included “Urban Chinese Youth,” “American New Generation” and “Equality Warriors” in the Generation category; “Historically excluded” and “women [from the mid-income class]»In terms of culture; and “Chinese female leader” and “high tech value” for the social aspect.

However, these categories are not mutually exclusive, as a person can have more than one character.

Kim Nan-do, professor of consumer studies at Seoul National University, described the multi-persona as “a multi-level identity created by putting different characters in different situations, similar to changing masks.”

Understanding this character is essential to understanding the recent evolution of the luxury consumer demographics.

In Victorian times, the British placed the most expensive furniture near the window through which neighbors could peek. [JOONGANG PHOTO]

In Victorian times, the British placed the most expensive furniture near the window through which neighbors could peek. [JOONGANG PHOTO]

People adopt different characters depending on the situation, often to leave some impression on others. In the 19th century, for example, British families used to place their fanciest pieces of furniture near windows where neighbors could peek, and the phrase “Sunday best” refers to the best clothes in the house. a person worn on special occasions like going to church on Sunday.

Persona has recently become much more diverse. In addition, the trend towards ‘revenge spending’ – impulsive spending motivated by the frustration of missed opportunities due to Covid-19 -, the flood of information online, the expansion of second-hand luxury platforms and the Growing tendency to shop for personal satisfaction has led to the increasing demand for luxury goods. Some people even buy luxury items on the Metaverse to express their luxurious personality online.

Consequently, the luxury industry is diversifying its price range in order to meet the different needs of a now larger clientele.

The traditional segmentation of the luxury goods market, where there was a clear distinction between relatively affordable products and absolute luxuries, is no longer true in today’s market. For example, French luxury brand Hermès began offering relatively more affordable scarves, jewelry, and accessories at prices below 1 million won ($ 830).

“While traditional luxury goods were reserved for the wealthy few, and middle-income people preferred affordable and convenient products, now even teens and young people at the start of their careers are target customers for luxury brands ”Jeon Mi-young, researcher at Seoul National University’s Consumer Trend Center, said.

Jeon described the phenomenon as the “democratization of luxury”.

“Even the most prestigious brands will not be able to survive if they are slow to understand the diverse and complex personalities of people. ”

BY LEE SO-AH [[email protected]]


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Lab-grown diamonds vs mined diamonds: pros, cons and main differences

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It is this democratization of diamonds that most defines the lab-grown sector for Paul Zimnisky, a New York-based diamond industry analyst. “Luxury is an emotional purchase,” he says. “A manufactured product with endless supply and relatively low price just doesn’t have the same emotional impact on consumers. Zimnisky also sees a clear segmentation within the lab-grown diamond market. “I think people will be willing to pay more for fully traceable, high-quality, lab-grown diamonds made from renewable energy, compared to the cheapest possible stones grown in factories in China.”

“Created diamonds are the segment we are in – affordable jewelry for many,” says Mads Twomey-Madsen, vice president of corporate communications and sustainability for Pandora. “Laboratory development has evolved over the years and its price has come down as the technology has become more widely available. Today, synthetic diamonds tend to be around 30% cheaper than mined diamonds. “In addition, grown in the laboratory, we can provide diamond jewelry that has a very low impact on the environment. One of our smaller rings in the Brilliance collection has a carbon equivalent of one liter of milk.

The Natural Diamond Council is an elite club of diamond miners, whose seven members – including De Beers Group, Rio Tinto and Lucara Diamond – represent 75% of the global supply of natural diamonds.

Members have a mission to “advance the integrity of the modern diamond jewelry industry, and inspire, educate and protect the consumer.” Their detractors may say they are trying to keep making their fortunes, but those fortunes are irrevocably linked to impressive initiatives aimed at doing good for many people. (And let’s say lab-grown companies aren’t exactly charities – they’re like any other tech company for making money.)

Large-scale diamond mining, mainly on the continents of Africa and Australia, and in Brazil, Canada and Russia, has a negative environmental impact, but displacing the industry – and with it millions of ways – to factories developed in the laboratory is not the answer, according to Cristina Villegas, director of the Mines to Markets program at Pact, an NGO specializing in development aid in poor countries and helping resource-dependent communities to work more sustainably and efficiently. “Moving away from responsible miners in remote communities and prioritizing jobs in the north of the world is literally the opposite of responsible sourcing,” she says.


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Toronto market posts weekly decline as Fed scares investors

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  • The TSX ends up 12.25 points, or 0.06%, at 21,084.45
  • Shows a decrease of 0.65% for the week
  • Technology drops for 5th day in a row, down 1.4%
  • Energy climbs 0.9%

TORONTO, Jan. 7 (Reuters) – The main Canadian stock index closed slightly higher on Friday, but was still down for the first week of the year as the potential for faster-than-expected U.S. interest rate hikes worsened. weighed on investor morale.

The Toronto Stock Exchange’s S & P / TSX Composite Index (.GSPTSE) ended up 12.25 points, or 0.06%, at 21,084.45 on Friday. For the week, it was down 0.65% after the Federal Reserve issued a hawkish note on Wednesday just minutes from its last meeting.

“The story is always tied to the Fed and the hike in interest rates coming sooner than expected,” said Sadiq Adatia, chief investment officer at BMO Asset Management.

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Wall Street extended its weekly cut as investors remained concerned about the US interest rate outlook, even after a weaker than expected December wage report. Read more

National data showed that the Canadian economy created twice as many jobs as expected in December, supporting the Bank of Canada’s expectations to start raising rates in the coming months. Read more

“What you’ve seen is a little bit of rotation going on… the top tech names have sold out,” Adatia said.

Higher interest rates reduce the value to investors of future cash flows that technology and other high-growth sectors are expected to produce.

The Toronto-based market tech group fell for a fifth straight session, down 1.4%, but this was offset by gains for the heavily weighted financials and energy stocks group.

Financials ended up 0.4%, while energy climbed 0.9% as oil weathered much of this week’s rally.

U.S. crude prices fell 0.7% to $ 78.90 a barrel on Friday, but rose nearly 5% for the week as the market weighed on unrest in Kazakhstan and blackouts in Libya. Read more

Clothing maker Canada Goose Holdings Inc (GOOS.TO) was one of the biggest declines, falling 6.3% after UBS lowered its price target on the stock.

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Reporting by Fergal Smith; Additional reporting by Anisha Sircarl Editing by Cynthia Osterman

Our Standards: Thomson Reuters Trust Principles.

Spring Studios and Fashinnovation join forces

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UNITED FRONT: The latest fashion union is between Spring Studios and the global platform Fashinnovation.

The two sides made public their partnership on Friday, which will include activations throughout the year. To get things done, Fashinnovation will broadcast and host the sixth edition of its global conferences from Spring Studios on February 3. The next list of speakers will include, among others, Frédéric Fekkai, Nicole Miller, Bibhu Mohapatra, Raja Rajamannar of Mastercard and model Lais Ribeiro. .

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Launched in 2018, Fashinnovation connects the fashion industry through entrepreneurship, sustainability, Technology and innovation, and diversity and inclusion. Spring Studios is a downtown Manhattan destination for catwalks, photo and video shoots, special events, and other fashion related activities. With this new partnership, Fashinnovation is also planning special projects, an incubator for young designers and other initiatives.

The deal is fully co-branded with “no financial conditions involved,” according to Fashinnovation co-founder Jordana Guimaraes. “The goal is to elevate innovation in the industry on a global scale by joining forces. “

Giuseppe Stigliano, Global Managing Director of Spring Studios, said: “At Spring, we strongly believe in the power of open innovation as a way to create value through ecosystems,” adding that the new partnership is “an important step in this process “.

Stigliano joined Spring Studios last fall and succeeded Tim Ringel. Based between London and New York, Stigliano oversees a team of 200 people in these cities, as well as in the Milan office. Stigliano previously co-founded two start-ups. He also co-wrote two books that address the changing retail and fashion landscape, due to the digital age.

From Guimaraes’ perspective, many designers and brands that use Spring Studios could use more innovative ways through Technology in their supply chains and also to advance more sustainability.

In a joint statement with co-founder Marcelo Guimaraes, she said: “Fashion is community, you can’t innovate on your own. Fashinnovation is thrilled to partner with Spring Studios due to their drive on industry trends with daily progress towards embracing innovation for the future of fashion.

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