“We are all guilty: we pushed everyone too hard, imposing ourselves too fast on the system, without leaving the public time to really appreciate the proposals”. Vogue editor-in-chief Anne Wintour’s comment includes an act of contrition. But this does not obscure the meaning of his message: luxury has to slow down. Now that the Coronavirus pandemic has changed the world at all levels, the top of the range must find its own identity: “Luxury should last, have quality, be emotional and full of meaning”.
Luxury has slow down
In recent years we have become acquainted with the term disruption. In 2020, however, the element capable of revolutionising the status quo was not a brilliant designer or a forward-looking CEO, but the pandemic. Its touch, as we know, is not sweet. “The impact of Coronavirus is catastrophic at all levels: not only for small companies and young designers – explains Wintour, during a call conference with CNBC -. The juncture forces everyone to rethink what the fashion system represents, what it means, how much it is worth”. It is on these premises that the journalist ends up adding her name to the list of those who, from Giorgio Armani to Dries Van Noten, hope that luxury will abandon fast fashion practices: “Customers wants to buy brands in line with their values - she says -. Brands that have meaning. Customers will be more attentive to product quality, whatever the price point is”.
The top of the range, therefore, must prove itself to be proactive. The pandemic represents “an opportunity to slow down”. For brands, the time has come to “produce less and make sure that the public opinion falls in love again with creativity and the passion for fashion – thunders Wintour -. It is a time of less emphasis on the rapidity of change and greater attention to the novelties content”.
Support for small businesses and young designers
Vogue’s director, far more than just an observer of the fashion industry, intervenes on CNBC frequencies to present the initiatives that Vogue has put in place with CFDA in favour of small businesses and young designers: after raising funds to support access to credit, there is now an agreement with Amazon Fashion to offer a showcase to 20 emerging designers. “Luxury, accessible luxury, or whatever is the name of the segment – she concludes -, small businesses are all in the same condition: there is no revenue. It is important to signal that there is a future for young designers, that there is a future for creativity in the United States”.
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