Luxury consumers are getting tired of the 'West is Best' mentality and want to connect to different cultures, 

, stories, and experiences. And their purchasing habits reflect that change in mindset. For instance, 

 of Gen Zer Depop users – a demographic set to make up 

 of the luxury consumers by 2035 – buy fashion based on a brand's diversity and inclusion efforts, while 

 of Europeans say that COVID-19 has made them 'less favourable towards American brands’. That not only means people are 

from many luxury brands but that they also want brands to help them navigate the contemporary cultural fluidity and form new borderless communities instead of telling them who they should be.

The border reorder of the contemporary world enables people to navigate the fluidity of diverse cultures and lifestyles, while also reinforcing the sense of importance of regional places, cultures, and local talents and specialities. Luxury buyers are on the lookout for cues, products, experiences, and references that make them feel part of an insider community that will enrich their lives through diversity. Among Gen Zers, 

 believe it will be important to connect with local communities and emerging talent in the future. Luxury fashion houses like 

 have taken inspiration from Japanese manga and anime, while 

Burberry dropped a skin pack for Chinese gamers

, reflecting people's fluid cultural consumption while deploying a hyper-local approach.

Emerging from the tension between a borderless world and a return to hyper-localism is people’s need to live meaningful and personalised experiences. But, as aesthetic preferences and cultural references are shifting, so is the power of luxury brands in captivating people. Status-signalling is no longer enough. People want to see 

 and want to engage with unique stories and 

 – without an element of storytelling, brands and collaborations become meaningless for 

. That shows the importance of creating subtle, engaging, and relevant storytelling that makes people feel unique and special. Collabs like 

 are subverting expectations and giving luxury consumers something fresh.

of people say that most brand collaborations without an element of storytelling are meaningless

Gen Zers want fashion brands to help them understand who they are

For decades, America has played a prominent role in dictating global fashion trends. However, with the changing perception of the US on the world stage, and the increased decentralization of fashion following the global pandemic, many consumers are now buying locally-sourced brands.

How is fashion reflecting modern American identities?

How are Gen Yers and Zers shopping for bling?

Gen Z and Y shoppers – who tend to prioritize personal style, sustainability, and inclusivity over traditional status markers – aren’t following in the footsteps of traditional jewelry buyers. How are new brands appealing to these cohorts’ sensibilities, and how can legacy brands adapt accordingly?

What are the new luxe signifiers among jewelry buyers?

Tiffany and Co. has long thrived off exclusivity and aspiration, but the brand lost some of its shine after failing to adapt to shifting consumer preferences. However, after acquisition and a seismic rebrand, the jeweller is back and looking to win over the younger generations.

Tiffany and Co: brand refresh for Gen Yers and Zers

Soho House, the international private members' club, is continuing its global expansion with the Ibiza Farmhouse, a first for Spain. Members-only clubs are becoming increasingly popular thanks to their promise of curated exclusivity, privacy, and refuge from homogenised experiences.

Soho House to open in Ibiza amid members-only club boom

Korean luxury hospitality group Josun Hotels & Resorts has launched a store to expand its online presence via its distinctive food and lifestyle products. With people searching for accessible indulgences, premium hotel-branded products can bring luxury escapism into homes.

Josun Hotels & Resorts launches online lifestyle store

The Four Seasons has introduced luxury pyjamas as part of its Four Seasons at Home line, which honors the brand’s hospitality heritage and offers an entry point for those who can’t afford a hotel stay. The move aligns with a luxury trend towards accessible experiences amid economic constraints.

Four Seasons pyjamas offer an at-home luxury experience

As e-commerce casts doubt over the future of physical stores, Dover Street Market reaffirms the importance of experiential spaces in luxury retail. Integrating fashion, art, and emerging designers to revolutionise the customer experience, the famed store is shaping fashion commerce.

How Dover Street Market inspires fashion rediscovery

Luxury fashion houses in Paris are moving to the silver screen, producing films to deepen their cultural influence and connect with new audiences. As they step from the runway to the cinema, how can other brands harness this shift to elevate their storytelling and create more immersive brand experiences?

Why cinema lovers are luxury's next opportunity

The revival of Tom Ford’s Oud Minérale – and its move from the brand’s Private Blend collection to its Signature Line – taps into a desire for self-expression, little luxuries, and ‘smellmaxxxing’, even if on a budget. The scent draws fragrance fans and young men still forming their identities.

How Oud Minérale embodies the essence of personal luxury

More than ever, South Koreans are seeking holiday accommodation that’s a destination in itself. With hotels in South Korea rebounding from the pandemic, Koreans are also evolving their definitions of ‘rest,’ ‘luxury,’ and ‘hospitality,’ prompting local tourism to adapt too.

How South Korean hotels are adapting to attract visitors

Luxury brand Moschino is leaning into absurdism with the release of a bag modelled on a stalk of celery. Blending humour and hyper-realism, the move speaks to a growing appetite for self-aware humour within the industry, which may be particularly appealing to meme-savvy young shoppers.

Moschino lures luxe buyers with hyper-real celery clutch

Indians are increasingly buying luxury products while travelling abroad, according to spending data from Visa. In response, some brands are creating personalised shopping experiences overseas, aligning with the industry-wide shift towards immersive and curated experiences.

Luxury brands court Indian tourists with VIP shopping

Luxury travellers have a new and exclusive way to experience Italy with the launch of the Orient Express’ La Dolce Vita sleeper trains. The revival of the once-defunct brand highlights the continued demand for luxury travel experiences, even as sales of high-end goods slump.

The Orient Express launches first new route in decades

“Diamonds are a girl’s best friend,” so sang Marilyn Monroe, but with questions over ethics and the environment, mined stones are falling out of favour. Lab-grown diamonds and recycled precious metals are attracting Gen Y and Gen Z. We explore what’s behind the explosion in ethical engagement rings.

How engagement rings are becoming more sustainable

Puig exceeded expectations with its Q3 earnings, bolstered by fragrance and skincare sales and demand in the EMEA region and Americas. As brands within luxury ponder whether to ‘go high’ or 'go low', Puig is opting for an enticing strategy – ‘go niche’ to stand out in a turbulent market.

Puig courts niche audiences within luxury

Jacquemus has opened the doors to its first-ever US concept store with a location in New York. The move highlights people's increased appetite for immersive retail experiences that blend hyperlocal connections and unique storytelling to showcase the characters and feelings of various locales.

Jacquemus’ first-ever NY store elicits Parisian pride

Tanishq has perfected the dance between tradition and modernity with its jewellery. From Diwali-exclusive collections to evolving its appeal, India’s favourite jeweller remains a festival staple – even as gold prices rise and tastes change. How does Tanishq keep its Diwali shine?

How Tanishq makes gold traditions glitter during Diwali

Prada and Axiom Space have unveiled a space suit that combines high fashion expertise with advanced tech. As people show interest in unique, futuristic experiences that blend aesthetics with functionality, luxury brands can leverage cross-industry collaborations to make waves.

Prada goes to space with high-tech moon suit design

Tiffany & Co. has partnered with The Nature Conservancy to protect the oceans. As people become more conscious of brands' environmental impact, those that demonstrate a genuine commitment to ecological causes may appeal to customers seeking meaning through their purchases.

Tiffany & Co. dives into ocean conservation

Young Australians are stepping up to support the arts, while galleries are adapting to social and economic pressures. As Indigenous and contemporary works take centre stage, how will the Australian art market respond to these changes?

What does the art market reveal about Gen Z luxury attitudes?

Major luxury brands are reporting losses and facing challenging times as shoppers around the world hold back on their spending. Understanding the changing needs of aspirational and wealthy shoppers across different markets will be key for brands to weather this slowdown.

Global spending slowdown hits UK luxury brands hard

China’s first and only couturier acclaimed by the Chambre Syndicale de la Haute Couture, Guo Pei embodies expressive Chinese luxury in her designs, adding depth to the flashy guochao trend. As these designs travel globally with Guo, Chinese fashion remains evergreen and inspired by her works.

How Guo Pei turns China's history into high fashion

Alaïa has launched the exclusive 'La Table' dinner series in collaboration with We Are Ona. The initiative feeds into a growing trend of luxury brands creating immersive culinary experiences, catering to the desire for exclusive, insider-only events in fashion and arts.

Alaïa’s 'La Table' merges fashion and fine dining

Female Lamborghini owners in the US were invited to the #SHEdrivesalambo retreat in Arizona to experience the brand’s latest cars and participate in wellness activities. Luxury brands can tap into people’s desire for insider status and novelty experiences with such targeted outreach events.

Lamborghini retreat blends luxury with lifestyle

LVMH has inked a ten-year partnership with Formula 1, helping to expand its influence in the sports sector. This collaboration arrives at a time when brands are leveraging the power of fandoms to foster new forms of collective identity while rewriting luxury codes for aspirational buyers.

 LVMH extends reach into sports with F1 collaboration

The perfume industry, while smaller than the broader luxury market, is growing nearly twice as fast, driven by innovations that merge fragrance with emotional wellbeing. As people increasingly prioritize self-care – reflected in the rise of wellness spending and a greater focus on beauty – fragrance is evolving into a key player for ‘scentsational’ mind-body connection.

Why fragrance is the new quiet exclusivity in the US

All-day wearable fitness trackers that monitor our health outside of the gym are changing from bands, straps, and watches into jewellery and luxury goods. Why are people keen for their wearables to be high-fashion items? And how are brands entering this luxury market?

How are fitness trackers competing on cool to win luxury shoppers?

While cost of living pressures persist, luxury sales are booming in Australia, partly due to international tourists and the country’s growing wealth. As global brands seek to expand their presence in the market, how can they adapt their stores and use collaborations to edge out the competition?

Why luxury thrives Down Under despite the cost of living

Australians’ appetite for holidays is insatiable. And despite a cost of living crisis, many are still willing to pay more for luxury accommodations and new, unique experiences. Many are also looking for multi-generational trips that offer something for the entire family.

What do Aussies want from luxury holidays?

A rapidly ageing population and recent economic boom are giving rise to a new model of senior living in South Korea. Blending independence with high-end leisure and luxury, interest in services designed for ageing on one's own terms is emerging in the East.

South Korean seniors seek out luxury retirement homes

Single-child households and "Very Important Babies" are on the rise in South Korea. Their parents are keen for their offspring to keep up appearances at school and out and about, with must-have luxury items fast becoming signifiers of not just individual prosperity but successful parenting.

Child luxury: a new status for parenting in South Korea

With China’s economy experiencing poor shopper sentiment and a dip in spending power, demand for dupes has grown. Some luxury brands are experiencing sustained success despite the headwinds, but others could embrace the expansion of dupe culture by collaborating with high-street brands.

Demand for dupes grows in China

Affluent buyers, both local and foreign, are seeking unique, high-end homes that reflect a new sense of luxury in Australia. From waterfront properties to future-proof designs, they’re investing in properties that offer sustainability, technology, and new bespoke features.

Why waterfront homes are Australia’s number one luxury

Pandora has committed to using 100% recycled gold and silver in its jewellery, joining a wider industry effort to put sustainability first. As people become more aware of the urgency of the climate crisis, they're increasingly expecting businesses to go the extra mile to do their bit.

Pandora pledges to use only recycled gold and silver

A desire to live to the max is fueling interest in experiential luxury among Americans, who are increasingly opting to spend on memories over material goods. Canvas8 spoke to eight people from across the US about their expectations of luxury experiences across travel, wellness, and retail.

What do Americans want from luxury experiences?

As people recalibrate their priorities regarding luxury spending, the sector is witnessing a shift towards experiences over material goods. But what do Britons want from immersive luxury moments? Canvas8 asked nine people from across the UK what makes elevated experiences memorable and worthwhile.

What do Britons want from luxury experiences?

The restaurant Silo has launched a fermentation lab in London, spotlighting zero waste and regenerative culinary experiences. As people become increasingly aware of the climate crisis and food waste issues, innovative, creative, sustainable dining could provide new options for eco-conscious experimentation.

Silo tackles food waste creatively 

Mulberry has achieved B Corp certification. As luxury fashion brands are increasingly scrutinised for their sustainability and green claims, third-party certifications like these spotlight transparency, rebuild trust and help people feel safer and more confident about their choices.

Mulberry recognised for eco-commitments 

Telfar is debuting its first leather bag with an exclusive pop-up at Selfridges. As demand for localised stories rises, brands can redefine luxury by fostering deeper connections through tactile engagement and culturally fluid narratives, offering a fresh perspective on traditional luxury concepts.

Telfar redefines accessible luxe with debut leather bag

What new categories and destinations are shaping luxury right now? How is heritage serving as a timely anchor in a turbulent world? Why is the luxe sector looking to be more fun? How are brands making sure they remain in the zeitgeist through cultural connections and innovation?

Luxury Sector Snapshot: October 2024

Statement jewellery has fully permeated the luxury landscape, partly due to Gen Z’s lust for experimentation and individualism during times of crisis. As industry lines blur, how are brands and designers in this space reacting to ways people people create identity via adornments and aesthetics?

Why Gen Zers are investing in statement jewellery

People are looking for brands to be more fun – it's not all about quiet and understated luxury. As a result, some high-end labels are collaborating with artists, adopting more experimental aesthetics, and tapping into fandoms to get people's attention. It’s a sign of how entertaining and memorable experiences are becoming integral in the luxury world.

Playful Prestige

The notion of heritage has been a cornerstone of luxury for decades, providing a sense of stability and historical connectivity. In the polycrisis, people increasingly want brands to be an anchor in culture, prompting some labels to reimagine heritage and adapt it to the needs of contemporary consumers.




Contemporary Heritage

Faced with mounting challenges, brands in the luxury market are looking for new ways to attract people and safeguard their legacy for the future. From investing in culture to innovation and sustainability measures, they are trying to reimagine status and entertainment for diverse audiences.

Tomorrow's Icons

Luxury spending is going through big changes. There are various economic pressures that are making aspirational shoppers more discerning, but at the same time, new luxury categories are on the rise and geographical shifts in the market promise to reshape the sector.




Spending Shifts

The luxury market has taken a hit post-pandemic because of slower tourism and the rising cost of living. In France, this means that Parisian stores are recalibrating their strategies to increase accessibility, showing how a shifting landscape can open new and exciting opportunities.




Parisian stores aim to make luxury accessible again

Bottega Veneta has tapped 'child-like wonder' on the MFW runway. As people seek escape from global stressors through nostalgia and playful experiences, luxury brands can create emotional connections by evoking fond childhood memories while maintaining sophistication in their products and experiences.

Bottega Veneta reveals luxury fashion's inner child

The RealReal taps people's emotional connections to clothes to encourage resale and fashion circularity. The company aims to help individuals turn their luxury goods into profit while promoting the idea of giving pre-owned items a new life and fostering a sense of shared purpose. 

The RealReal taps emotional connections for luxe resale

The "Made in the UK" series champions Burberry's commitment to supporting British manufacturing. Brands that spotlight hyper-locality with storytelling and offerings will resonate with audiences looking for authentic, rooted experiences in an increasingly interconnected world.

Burberry spotlights local heritage with Made in the UK

In a China-exclusive campaign, Prada has tapped ambassador and table tennis star Ma Long for a special match with veteran actress Wu Yanshu. While athletes have become influencers du jour for luxury brands, there’s a demand for stories that showcase sports in a humanistic, thought-provoking light.

Prada’s table tennis campaign combats ageism in China

As the luxury sector takes a hit, the UK branch of Bulgari announced losses in 2023 due to economic instability and reduced tourism. With financial concerns worsening, trends like #underconsumptioncore and 'affordable luxury' rise, offering leverage for smaller, cheaper, and stylish alternatives.




Smaller brands may emerge as Bulgari UK struggles

Luxury hotel The Standard taps tattourism by giving guests exclusive access to local tattooists during their stay. With the desire for curated, local experiences continuing to grow among travelers, The Standard is attracting dedicated followers seeking one-of-a-kind, locally-inspired experiences.

The Standard luxury hotel courts tattoo aficionados 

Fair Luxury x The Goldsmiths' Centre taps ethical responsibility in luxury jewellery. The partnership responds to people's growing demand for eco-conscious offerings and ethical responsibility, aiming to set high standards of transparency from jewellery providers.

Ethical jewellery collective spotlights eco-values

Hospitality brand Sbe revolutionizes wellness with lifestyle concepts. With people increasingly prioritizing health and wellness, brands can follow Sbe's lead in redefining the intersection of luxury hospitality and preventative healthcare.

Sbe taps longevity and luxury with hospitality offering

Italian luxury fashion house Tod’s has unveiled a collaboration with renowned Indian couturier Rahul Mishra. Luxury brands are placing greater emphasis on artisan craftsmanship in a shift to slower production and celebration of diverse cultural heritage from around the world.

Tod's collaboration celebrates Indian craftsmanship

For Milan Fashion Week, the Italian label Etro broadcasted its runway show live via the Apple Vision Pro. While spatial computing is still nascent territory for most people, novelty-seeking HNWIs will be looking for cutting-edge phygital experiences as luxury currency.

Etro broadcasts runway show via Apple Vision Pro

A new partnership between Sotheby’s and Marriott will auction highly valuable collectables alongside exclusive itineraries. As the signifiers of status evolve and the lines between goods and experience blur, HNWIs are looking to commodify one-of-a-kind experiences to signal exclusivity.

Marriott and Sotheby’s upgrades exclusivity for HNWIs

How is the second-hand market changing the definition of luxury? Is AI democratising access to luxury experiences? Should brands really be focusing on Gen Z? In this part of Expert Outlook 2025, we speak to three experts about how changing perceptions of luxury are transforming the sector.

2025 Expert Outlook on Luxury

Montblanc has been associated with luxury and refinement ever since the launch of its first pen collection in 1906. The brand has since diversified into leather goods, clothes, and its beloved watches – all while retaining its elegant identity. What’s the secret to its long-term success?

How Montblanc rewrites status for luxury shoppers

How do you brand an invisible product? By building captivating worlds that immerse your senses. The creators of Gentle Monster foray into the olfactory with TAMBURINS. Inside its stores, huge, life-like sculptures and miniature figures come together, inviting shoppers to experience scents beyond smell.

Why TAMBURINS designs luxury perfume for Korean senses

Amidst the cost of living crisis, the luxury sector is increasingly collaborating with mass-market brands to reach new audiences. Canvas8 speaks to three academics about their research into ‘masstige’ co-branding and other brand expansion strategies.

You’re partnering with who!? The science of masstige co-branding

Diptyque Paris is debuting a luxury perfume concept that draws inspiration from the natural world. The collection caters to fragrance enthusiasts seeking unique, exclusive offerings, aligning with the growing trend of personal expression through niche, narrative-led perfumes.

Diptyque launches luxury line of conceptual scents

The Macallan has released 200 bottles of its oldest whisky yet, each priced at $190,000 and available for purchase by invitation only. The marketing strategy and design mirror the approach of luxury watch brands, making it a collectors' item – and tapping luxe whisky connoisseurs.

The Macallan releases whisky to buy by invitation only

Tapping into sustainable shoppers in Barcelona, Aesop has launched a new store built on recycled local materials. The brand aims to spotlight its commitment to circularity and sustainability while inspiring others to explore the creative reuse of materials within a unique retail and design experience.

Aesop's anastylosis-centred design targets eco shoppers

Chanel has jumped on the wearables bandwagon with the debut of its Première Sound Watch. Unlike other brands that are experimenting with more tech-forward approaches to wearables, the luxury house is putting a modern spin on old-school devices that could resonate with AI sceptics.

Chanel makes loud luxury play with nostalgic tech

For its 140th anniversary, Breitling has launched a heritage-inspired pop-up museum. Visitors explore its history via the Time Tunnel and its air, land, and sea "universes." The experience appeals to Gen Z's love for experiential retail, highlighting a shift toward heritage-focused branding.

Breitling immerses visitors in its history with pop-up

Net-A-Porter x King's Foundation champions local craftsmanship and sustainability with community training programs for new talent. The initiative highlights how luxury brands can build deeper connections with their audiences while fostering local talent and building long-lasting, enduring value.

Net-A-Porter spotlights local craft and community values

The CFDA has announced a streaming partnership with the Rockefeller Center to showcase collections from American designers at NYFW. This move speaks to a growing desire for brands to break down barriers to accessing luxury by reviving people’s interest in local fashion stories.

CFDA aims to boosts appeal of US fashion during NYFW

Luxury

People want narratives that mix the joys of cultural fluidity and unique experiences

With the pandemic and the mass digitisation speeding up an already accelerated culture, there's a growing sense of borderlessness in which people want to connect with different things while valuing homegrown products. In the luxury market, consumers are feeling disconnected from heritage brands and are yearning for personalised experiences and unique stories that make them feel special.