LSN : News : Stat: Prestige beauty thrives as mass market stagnates

Teenage Engineering combines mediaeval madness with modern tech

Medieval edition of the EP-133 drum sampler/composer by Teenage Engineering, Global

Sweden – Consumer electronics company Teenage Engineering has once again proved its eccentric genius with the release of a uniquely mediaeval version of its EP-133 drum sampler, now rebranded as the EP-1320. This quirky yet fully functional device, which was launched with an equally eclectic video, combines the brand’s signature tech with a mediaeval twist, complete with lute and farm animal samples, and a display inspired by illuminated manuscripts.

The EP-1320 retains the robust feature set of its predecessor, but with a decidedly anachronistic makeover. The sampler’s interface has been re-imagined with a mediaeval-style segment LED display and ‘cocoa’ pads, while its internal sound bank includes everything from hurdy-gurdy and bagpipes to swords, arrows and even dragon sound effects. This unexpected blend of the ancient and the modern comes with additional accessories like a mediaeval-themed quilt bag and limited-edition vinyl sold separately.

The re-imagined EP-1320 not only adds a fresh layer of creativity to music production but also highlights Teenage Engineering’s commitment to pushing the boundaries of what’s possible, or even imaginable, in music technology. For more insights on what’s new and next in music, head to our Web Summit Lisbon 2023: Music Futures report.

Strategic opportunity

Consider how you can give your product the newtro (new/retro) makeover, tapping into consumer fondness for nostalgia

Na Chainkua Reindorf and Glossier take over NYC basketball courts

Glossier in collaboration with Na Chainkua Reindorf, US

US – Artist Na Chainkua Reindorf has re-imagined her vibrant, empowering artwork on a large-scale canvas: basketball courts in New York’s Tompkins Square Park. Known for her previous collaboration with Glossier, Reindorf aimed to ‘add colour and excitement’ to the neighbourhood using bold primary and complementary colours, with an emphasis on orange, one of the official Women’s National Basketball Association (WNBA) colours.

The courts, now featuring Reindorf’s signature stylised eye symbol, represent ‘the act of looking back, reclaiming one’s agency, and expressing confidence’, the artist explained. This symbol, a recurring element in her work, is meant to inspire and empower women both in sports and beyond.

The refurbishment is part of a broader initiative by Glossier, Reindorf, the WNBA and Project Backboard, a non-profit organisation. The organisation cleaned, resurfaced and repaired the courts, ensuring they were both functional and visually striking. Glossier director Dan Peterson noted that the project aims to create a more inclusive space, particularly encouraging families and young women to engage with the sport.

In our Sports Rebranded report we discussed how brands can update their visual identities in order to appeal to the Gen Z audience.

Strategic opportunity

Use striking visuals and relevant, authentic partnerships to reinvigorate your brand’s marketing and create attention-grabbing installations. Keep inclusivity, diversity and empowerment in mind to appeal to Gen Z’s ideals

Foresight Friday: Simar Deol, foresight analyst

Celine Van Heel captures her grandfather, also known as The Spanish King, in his prime senior years, Spain

Every Friday, we offer an end-of-week wrap-up of the topics, issues, ideas and virals we’re all talking about. This week, foresight analyst Simar Deol discusses the fashion industry’s sustainability and labour violations issues, and how one pop icon has revived a cult-classic brand.

: Even the best PR teams cannot gloss over fashion’s significant sustainability problem. In fact, a new report by Fashion Revolution reveals how few fashion brands – including those labelled as ’sustainable’ – are being accountable and transparent about their carbon emissions and fossil fuel usage. As we discuss in our Global Fashion Summit 2024 coverage, is fashion at its tipping point?

: Fashion’s sustainability problem goes hand in hand with its human rights and labour violations. The Business of Fashion has exposed how Dior, LVMH’s second biggest fashion brand, fell behind on its disclosure requirements, in breach of the UK’s Modern Slavery Act. As discussed in our Regulating Clean Fashion Futures feature, more laws are incoming, but will the fashion industry adhere?

: In less disheartening news, iconic Y2K brand Von Dutch, best known for its trucker hats and slogan tees, is experiencing a significant revival thanks to pop icon Charli XCX’s song Von Dutch. As younger consumers continue to seek out nostalgia-driven products and services, noughties pop culture references are once again coming out on top.

Quote of the week

‘My whole reason for referencing the song is because I just wanted to use a cult-classic brand but hats look bad on me, so nay’

Charlie XCX when asked if she would vote yay or nay for the brand Von Dutch

Stat: Prestige beauty thrives as mass market stagnates

Behind The Camera by Shauna Summers, Berlin, Germany

US – New data from market research company Circana has revealed that the US beauty market reached £12.1bn ($15.3bn, €14bn) in the first half of 2024, with growth driven primarily by the prestige sector, which expanded by 8%, while the mass market held flat.

Fragrance led the way in prestige, growing by 12%, followed by hair care (10%), skincare (7%) and makeup (5%). Meanwhile, unit sales in the mass market declined across categories. Prestige skincare products priced around £47 ($60, €55) are also outperforming higher luxury tiers, while mass-market segments struggle to keep pace with rising prices.

‘Within prestige, drivers of growth point to a similar pattern, indicative of a consumer who is seeking elevated value,’ said Larissa Jensen, global beauty industry advisor at Circana. For more examples of how brands are flexing their business operations to cater to changing consumer values amid economic uncertainty, head to our Cost of Living Crisis topic.

Strategic opportunity

Develop scaled-down versions or simplified formulas of your best-selling prestige products, enabling your brand to offer both premium and affordable options to ensure consumers at varying economic levels can engage with your brand