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Her cult status as industry saviour was only heightened by the news that the spring/summer 2024 show would be Sarah Burton?s last collection for Alexander McQueen, with Gabriela Hearst also departing Chlo?. Incoming: Sabato de Sarno at Gucci, Peter Hawkings at Tom Ford, Peter Do at Helmut Lang, and Louise Trotter at Carven. Does fashion have a woman designer problem? At LVMH, the world?s largest luxury conglomerate, only Dior and Pucci have female creative directors, while Stella McCartney and Phoebe Philo are eponymously run. At Kering, the second biggest fashion conglomerate, not a single brand is helmed by a woman, nor a person of colour.
In an uncertain world, consumer discretionary spend will be weighted toward trusted categories and brands. Hard luxury goods?jewelry, watches, and leather?will likely be in demand, reflecting their potential investment value in tough economic times. Consumers are expected to travel more and continue spending more time outdoors. And they prefer emotional connections and authenticity over celebrity endorsements.
Though the microscopic Louis Vuitton handbag made headlines in 2023, oversized catch-all bags will be newsworthy in 2024. Practicality is back in style and the fashion girlies are carrying bags that will actually carry their stuff?without sacrificing style, of course. The Row leads the charge on this trend, but don?t worry, you can still get the look for less.
It?s the trend I didn?t want to accept was coming, but after seeing it at Prabal Gurung, Chet Lo, Colin Locascio, Ulla Johnson, and so many others, there?s no denying it anymore: peplums are back, and they?re staying for a minute. Thankfully, they?re taking an ultra-chic form in 2024; many of these looks feel more sculpted, drawing attention to the waistline and hip?and they?ll pair beautifully with wide-leg pants and full skirts.
Uncertainty within the industry reflects the broader economic situation, albeit with regional divergence. Going into 2024, pressure on household incomes is expected to dampen demand for apparel and prompt trading down across categories. Still, there are geographic outliers that may offer comfort. One is India, where consumer confidence hit a four-year high in September 2023.2 India-based executives are more optimistic than those in Western countries, with 85 percent of respondents to McKinsey?s Global Economics Intelligence survey saying that conditions have improved in the past six months.3 China?s economy is facing challenges, but the country?s consumers show a higher intent to shop for fashion in 2024 than consumers in both the United States and Europe.
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