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Post Covid, What Are The New Rules For Luxury Fashion?
- 5th Apr 2021
The New Rules For Luxury Fashion
In a world where the COVID-19 has made itself known, and very loudly, it is safe to say that nothing has now remained the same. From business transactions to what our definition of fun is, everything has taken on a new turn.
Luxury businesses, especially, now have a pressing need to re-evaluate their values and aims. The pandemic, in fact, has provided the perfect opportunity for senior management to assess their companies’ operations and align them with the public’s newly formed situational shopping habits.
Perhaps the first and the biggest change of rule is the need for sustainability. More than just producing sustainable products, companies need to hardwire sustainability into their operations and into each business process. Using only materials and processes that can be linked to long term benefits, and reaching out to the right suppliers; this has to be every brand’s aim.
The greatest lesson this pandemic has taught everyone is the need to stay on one’s toes, and be ready for impromptu improvisation, anytime. Engineering flexibility into the production process is going to be one big step that luxury brands will have to take to do the same. Building trustworthy relationships with suppliers and slowly shifting away from the one season only approach will be the start.
Luxury fashion used to be all about slow, steady craftsmanship, and loose timelines. In a world where companies are quickly sized up by their product quality and the speed of service, dynamism in the process is an extremely important virtue.
4. Less Traditionalism
Another aspect of dynamism includes departing from the traditional aspect of different, strict seasons, and ordering separate materials for these distinct product lines. Instead, brands should focus on creating new monthly ways of creating product distinction without inviting wastage and generating excess volume that may not sell if conditions do not stay static and ideal.
The NEW for Luxury Fashion Business
The entire world of business especially the world of luxury fashion business has to literally now reboot itself and reinvent better ways of going about the transactions and customer interactions. The days of luxury fashion shows and luxury fashion events are surely behind us at least for the near future. Since the factor of ‘feel’ is something that the luxury fashion business thrives on, selling fashion online is definitely a challenge.
However with almost One and a half years of the Covid pandemic even the buyers and customers have got their minds reset and oriented towards this new kind of luxury fashion buying experience. Every luxury fashion business will have to nimble, flexible, open to new ideas and also be ready to embrace all new technologies that facilitate customer service in the post-covid new world order. Safety will surely be the biggest priority and the kind of experience that a luxury fashion brand delivers with safety will probably define the next generation of globally successful luxury fashion brands.
The ‘new’ is definitely here and probably here to stay for a while.