LSN : News : Stat: Second-hand luxury sales are soaring

Orient Express repositions itself as sustainable luxury

The Orient Express La Dolce Vita, Italy

Italy – In a bid to re-invent its traditional roots, the rail company is making a comeback as a design-led and environmentally friendly service. Introducing a train called La Dolce Vita, which will take passengers around Italy, its interiors pay tribute to the artistic 1960s period from which it takes its name.

The revamped interiors by Dimorestudio also complement a promotional campaign from the train’s owner Accor Group, which centres on the notion of Made in Italy. ‘The spaces are thoughtfully designed and well curated without being ostentatious,’ explain Britt Moran and Emiliano Salci, co-founders of Dimorestudio.

As well as celebrating Italian design and local tourism, Orient Express is also positioning itself as part of the burgeoning slow travel movement. The company notes that technologies such as hydrogen power will be explored for its future trains. Such an approach reflects growing demand for elevated rail operations that promote the ease and romanticism of train travel.

Strategic opportunity

To encourage more sustainable tourism, travel brands must explore ways of making slower options more appealing. Consider focusing on elements such as local crafts and foods, as well as nostalgic design cues

A Dior collection that borrows from classic literature

Dior Men autumn 2022 by Kim Jones in collaboration with the Jack Kerouac Estate, UK

London – Aligning itself with popular online aesthetics like Dark Academia, Dior’s latest menswear collection is a celebration of modern literature. Created in collaboration with the Jack Kerouac estate, the collection takes the American novelist’s work as its starting point.

Known for his beatnik style and influence on modern fashion, Jack Kerouac was a contemporary of Christian Dior in the 1950s. Now, 70 years later, creative director Kim Jones is drawing on Kerouac's storytelling to attract Generation Z and older consumers alike. Bridging the fields of literature and fashion, the catwalk has been styled to look like an extended scroll in reference to Kerouac’s most famous novel, On the Road. Elsewhere in the collection, leather jackets have been hand-painted with the cover art of Kerouac’s earlier novels.

Although the fashion industry has often collaborated with visual artists, partnerships with literary figures and estates have been less common. With growing literary fandoms on Book Tok and other social media platforms, however, there is scope for fashion houses to experiment with Longevity Marketing and the revival of print media.

Strategic opportunity

Younger generations are reviving classic literature via online communities. Luxury companies can consider tapping into virtual fandoms to appeal to both Generation Z and older consumers

This peanut butter protects Canadians with nut allergies

Canada – Responding to the high cost barriers of peanut allergy medication, Kraft Peanut Butter is launching a fund to help offset the cost of life-saving epinephrine auto-injectors for Canadian citizens.

Its Protection for Peanuts fund will allow people with less than 100% health coverage to be reimbursed for their allergy medication, making it cost no more than a jar of peanut butter.

This initiative comes as research from Food Allergy Canada shows that less than 50% of people with food allergies have access to epinephrine auto-injector medication. By using its reach to support those who are unable to consume peanut products, Kraft is setting an example to companies in taking civic action to support health and social issues.

With healthcare costs spiralling for many global citizens, brands have an opportunity to generate financial support for those in need. Daniel Gotlib, associate director of brand building and innovation at Kraft Heinz Company, says: ‘Through Protection for Peanuts, the hope is to shed light on allergy medication coverage gaps in Canada and help offset the costs of life-saving medication to drive meaningful change.’

Kraft, Canada

Strategic opportunity

Food and drinks brands must consider those unable to access or enjoy their products because of health or financial constraints. How might you support these consumers through a campaign or long-term support project?

Stat: Second-hand luxury sales are soaring

Loanhood

As the personal luxury goods market returns to pre-pandemic growth, demand for second-hand items is increasing. In particular, the second-hand market expanded by 65% between 2017 and 2021, according to Bain & Co, further highlighting the pre-owned and resale opportunity for luxury companies and brands.

Demonstrating promising signs of recovery, the second-hand personal luxury market has soared to reach a global valuation of £28bn ($37bn, €33bn) in 2021. In contrast, the market for new luxury goods has grown 12% during the same period. And while second-hand luxury marketplaces have become increasingly competitive, research by Bain & Co suggests that demand for pre-owned or vintage items remains high.

Indeed, the pandemic might be playing a role in the rise of conscious consumption and second-hand sales. ‘Where once it was all about status, logos and exclusivity, luxury brands are now actors in social conversations, driven by a renewed sense of purpose and responsibility,’ explains Claudia D’Arpizio, partner at Bain & Co.

As the luxury sector recovers from the effects of the pandemic, consumers have different priorities and demands in line with the principles of Pre-loved Premium.