History of Luxury Fashion Brands

The start of luxury fashion and haute couture dates back to 1858. Similar to modern times, prominent women found it of the utmost importance to don one-of-a-kind pieces to stand out from the crowd. Enter the English couturier Charles Frederick Worth, the couturier who “established the first haute couture house in Paris, championing exclusive luxury fashion for the upper-class woman and coining the term ‘fashion designer’ - an artist in lieu of the basic dressmaker”(Harper’s Bazaar UK). Haute couture is responsible for the strong brand history that many luxury fashion houses have continuing with them today. As defined in an article by Lisa Armstrong, “haute couture literally translates as ‘high sewing'…It is the art of dressmaking on a luxurious and grandiose scale. Items are made-to-measure by hand, resulting in pieces of clothing that are both unique and painstakingly perfect” (The Telegraph UK). The Le Chambre Syndicale de la Haute Couture was first established in 1868 and sought to list the necessary qualifications that make a fashion house couture. Further down the line in 1975, designer Giorgio Armani has redefined the ready-to-wear (RTW) luxury fashion market for his take on men’s suits that are less structured and more comfortable in fabrics that differ from what’s traditionally been used, which in turn made the look just as inviting for the modern woman. Today, luxury fashion brands such as Chanel and Balmain have continued to do well in the industry by continually modernizing their ideals of the past by their original couturiers, which goes to show the importance of history within luxury fashion. Most recently, fast fashion retailers have begun to compete directly with these designers.

What is Fast Fashion?

Fast fashion is a relatively new sect within the fashion industry. Individuals whether they are consumers interested in fashion or not are likely to know what fast fashion is by stores such as Forever 21 or H&M, and not the actual term. Fast fashion is defined as “low-cost clothing collections that mimic current luxury fashion brands” (Annamma et al.) Fast Fashion has provided trendy consumers with smaller budgets a way to dress as chic as possible with clothing that emulates many of their favorite luxury brands. Major fast fashion retailers are Zara, H&M, Forever21, Primark and River Island. A recent study given regarding the perceptions of fast fashion versus luxury brands in the minds of consumers showed that "fast fashion allows dreams of luxury to come true. Style is achievable even if quality is compromised; if an article of clothing is not really “beautiful” and “elegant” as is the genuine item, consumers can nonetheless afford the fast fashion option. For our participants, the idea of owning exclusive, unique items from a luxury brand is both an aspirational dream and a desire; yet, even as aspirations motivate them to pursue their dreams, pragmatism prevails”(Annamma et al.) This study also showed that luxury brands evoked three key themes in the minds of participants: dreams, exclusivity, and beauty/art.

Issue with Fast Fashion

A major issue is that fast fashion alters the natural pattern for the emergence of new trends. Luxury brands tend to display their new designs and styles for the world about twice a year. These are showcased during the Fall/Winter and Spring/Summer Fashion Week shows. Although individuals alter their wardrobes per season, these two collections per year cover the scope and provide enough inspiration for the next six months. Once these trends hit fast fashion retailers such as Zara, H&M, and Forever 21, their life span is shortened. Having on trend pieces that are heavily inspired by luxury brands that are not only affordable but also easily accessible whether in store or online causes consumers to quickly respond and purchase it. Once so many individuals are seen wearing these items at once it causes the once on-trend piece to be viewed as a thing of the past. “A formerly standard turnaround time from catwalk to consumer of six months is now compressed to a matter of mere weeks by such companies as H&M and Zara, with heightened profits to match (Tokatli 2008)” (Amanna et al.).

How Have Consumer Tastes Produced the Need of Fast Fashion - What Marketers Need to be Aware of

Inevitably, fast fashion companies put pressure of luxury brands to speed up their processes. As stated by Cavalli Chief Executive Officer Gianluca Brozzetti , “as demand for 3,750-euro ($5,102) silk dresses and 2,395-euro zebra design bags returns after the recession, luxury companies need to innovate to attract and retain customers, because “Loyal clients that are coming to the store frequently will get bored of not finding something new”(Bloomberg Business) This idea also explains why consumers have taken to fast fashion so well. Other than its affordability and accessibility, it guarantees to the consumer that much sooner than later, there will be new pieces for them to purchase, style, and flaunt. It eliminates the notion of being bored and unsatisfied when entering a store and therefore leaving empty handed. For the retailers who have solved this issue for them, it gives higher profits and stronger odds of a consumer leaving the store with a new item. Marketers of luxury brands need to understand that consumers will opt to pay for an item that's not only newer but more affordable if they can at all costs. Fast fashion has removed the need in many to purchase luxury brand pieces that will quickly seem obsolete. Marketers may want to show how long lasting, versatile, and timeless these luxury clothing and accessory items are when competing with their fast fashion imitators.

Why is Fast Fashion Harmful to Luxury Brands?

Although there are shoppers and marketers who have found many benefits to the fast fashion industry, there are a number of ways that they harm the fashion industry as whole they also directly affect the luxury brands they get “inspired” by. As previously stated, their prominence in this industry has affected the natural cycle of new trends and styles for the worse. Because of this, luxury brands have become weaker due to the growing influence and popularity of fast fashion in the market. Consumers become influenced more so by the knock-off versions of luxury originals, exasperate the pieces fairly quickly, and then create a strong demand of newer styles in an unfeasible timeframe.

Suggestions for Luxury Brands

Luxury brands need to gain back and maintain their strong influence within the fashion industry and mentality of today’s consumers. Some have already found a way to circumvent this issue. Brands such as Chanel, Alexander Wang, and more recently, Balmain, have all collaborated with H&M. This retailer is one of the most popular international fast fashion houses, and since 2004, has found ways of getting luxury brands to create what’s perceived to consumers as being a “specialty line” directly in their store at a considerable discount to the couturier versions. Although this involves working directly with your competitors, this would allow to gain consumers that otherwise couldn’t afford their clothing and therefore automatically result to fast fashion, and the consistent luxury buyers that feel the need to have any and all pieces put out by the designer. Target has also collaborated with many higher end retailers, and both stores have had great success with these limited edition and affordable launches. Another suggestion would be to design clothing lines in a more cost-effective manner in order to sell it consistently in affordable stores. For example, Vera Wang has had a clothing line sold at Kohl's that still attracted consumers because of her strong name in the fashion industry but turned out to be much more affordable to their wallets. Lastly, luxury fashion brands can "give in" and produce collections more frequently during the year to be ahead of these fast fashion retailers. Although this would still shorten the collections' life cycles, it would still help to gain back impatient shoppers.

References

• Tungate, Mark. Fashion Brands : Branding Style From Armani To Zara. London: Kogan Page, 2012. eBook Collection (EBSCOhost). Web. 7 Mar. 2016. http://eds.b.ebscohost.com/eds/ebookviewer/ebook/bmxlYmtfXzg0NTY0OV9fQU41?sid=4a93e75b-e419-48bc-bff9-e75d504f0108@sessionmgr114&vid=2&format=EB&lpid=lp_5&rid=0
• Wang, Tricia, "The Value of Luxury Brand Names in the Fashion Industry" (2015). CMC. Senior Thesis Paper 991 http://scholarship.claremont.edu/cgi/viewcontent.cgi?article=2097&context=cmc_theses
• "LUXURY BRANDS: Fashion designers." Marketing Week 24 Mar. 2011: 20. General OneFile. Web. 7 Mar. 2016 http://rlib.pace.edu/login?url=http://go.galegroup.com/ps/i.do?id=GALE%7CA264393463&v=2.1&u=nysl_me_pace&it=r&p=ITOF&sw=w&asid=c5ad5542c0ec8a7ecf21eb8aea903839
• Tungate, Mark. Luxury World : The Past, Present And Future Of Luxury Brands. London: Kogan Page, 2009. eBook Collection (EBSCOhost). Web. 7 Mar. 2016 http://eds.b.ebscohost.com/eds/detail/detail?vid=13&sid=4a93e75b-e419-48bc-bff9-e75d504f0108%40sessionmgr114&hid=127&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#db=nlebk&AN=301104
• Annamma Joy, John F. Sherry Jr, Alladi Venkatesh, Jeff Wang & Ricky Chan (2012) Fast Fashion, Sustainability, and the Ethical Appeal of Luxury Brands, Fashion Theory,16:3, 273-295 http://www.tandfonline.com/doi/pdf/10.2752/175174112X13340749707123
• Gardner, Marilyn. "Fast Fashion Is a Problem." The Fashion Industry. Ed. Roman Espejo. Detroit: Greenhaven Press, 2010. Opposing Viewpoints. Rpt. from "Fashion Industry Gives Rise to a 'Disposable Culture,'." The Christian Science Monitor. 2007. Opposing Viewpoints in Context. Web. 7 Mar. 2016http://rlib.pace.edu/login?url=http://ic.galegroup.com/ic/ovic/ViewpointsDetailsPage/ViewpointsDetailsWindow?failOverType=&query=&prodId=OVIC&windowstate=normal&contentModules=&display-query=&mode=view&displayGroupName=Viewpoints&limiter=&currPage=&disableHighlighting=false&displayGroups=&sortBy=&search_within_results=&p=OVIC&action=e&catId=&activityType=&scanId=&documentId=GALE%7CEJ3010660214&source=Bookmark&u=nysl_me_pace&jsid=c2b8d2d4f75e719a9436032dfd6854c0
• Rosenthal, Elisabeth. "Fast Fashion May Have Benefits." The Fashion Industry. Ed. Roman Espejo. Detroit: Greenhaven Press, 2010. Opposing Viewpoints. Rpt. from "Can Polyester Save the World?" New York Times 25 Jan. 2007. Opposing Viewpoints in Context. Web. 7 Mar. 2016http://rlib.pace.edu/login?url=http://ic.galegroup.com/ic/ovic/ViewpointsDetailsPage/ViewpointsDetailsWindow?failOverType=&query=&prodId=OVIC&windowstate=normal&contentModules=&display-query=&mode=view&displayGroupName=Viewpoints&limiter=&currPage=&disableHighlighting=false&displayGroups=&sortBy=&search_within_results=&p=OVIC&action=e&catId=&activityType=&scanId=&documentId=GALE%7CEJ3010660215&source=Bookmark&u=nysl_me_pace&jsid=32e02651afa55648430b82110e088cce
• "The History of Haute Couture." Harper's BAZAAR. N.p., 10 July 2014. Web. 7 Mar. 2016. http://www.harpersbazaar.co.uk/fashion/fashion-news/news/a31123/the-history-of-haute-couture/.
• Roberts, Andrew. "H&M, Zara Fast Fashion Pressures Luxury Labels to Speed Up." Bloomberg.com. Bloomberg, 30 Sept. 2010. Web. 12 Mar. 2016. http://www.bloomberg.com/news/articles/2010-09-30/h-m-zara-set-pace-as-fast-fashion-mentality-spreads-to-luxury-companies.