Redefining Luxury: How Can Luxury Brands Survive Gen Z?
Luxury is simply defined as the state of great comfort and extravagant living. When have you ever been comfortable in a suit – which for years I’ve been told was the precipice of luxury? At some point during recent years it became acceptable to wear Fear Of God sweats and Tom Ford shorts in a corporate setting. The term “luxury” has shifted to fit society and culture’s current definition of comfort. As time progresses I see more brands shifting to accommodate the many aspects of their audience's life; from pieces they can wear for everyday activities to their 9-5.
Luxury has been associated with exclusivity, and in recent years it’s been easier for brands to uphold a standard based on material selection as well as cuts and proportions. Modern luxury brands such as Rhude, Essentials, and Off-White base their brand in the realm of “streetwear” but target a high fashion demographic placing graphic tees in the $300 range which begs the question – is luxury just a price point? With an expensive price, limited quantity, and a “made in” tag almost any brand can be a “luxury” brand if marketed to the right audience and that then becomes the luxury market.
Surveying my friends, they agree that exclusivity is a key to luxury, but not the old exclusivity. The new exclusivity is also about individuality. “Modern luxury is accessible, I also think of streetwear when I think of modern luxury. Telfar is definitely a great example of modern luxury.”
Can Something Be Luxury Without Being Expensive?
“The new exclusivity is also about individuality.”
Ever since Kim Jones coordinated the Supreme x Louis Vuitton collab it merged two forms of fashion in a way that had never been seen before. At that time you had baseball tees selling for $500 -$1000 and you found yourself asking the question “is it worth it?”, but the garment itself wasn’t the luxury, it was the way it commanded attention when someone was seen with it. This then led to more questions; did they pay retail or resale? How did they get it? Who is that person? The way other people view you in exclusive pieces is what modern luxury is, the focus of those three questions that defines who you are in a space. The joke is that no one hits on SNKRS [app], therefore if I’m seen in a pair of Fear of God oatmeal colorway, “hitting” on the sneakers app becomes the difference between a $350 pair of shoes or a $900 pair of shoes. While both are fairly expensive the markup determines your status by being able to choose when you go pick up the shoes you want.
“It’s a culmination of accessibility as well as overall control of the market to one’s benefit. I’m mainly speaking in the realm of hype culture and streetwear, the ability to grab on to these trends, while many have to sit by the sideline and I assume falling in line with rules of objective beauty. I’m also thinking of modern luxury, basically being adaptable to the times and personal style.”
How Important is Having Visible Labels/Brand Names on Your Outfit?
“..hand distressing jeans & screen printing over graphic tees and adding your individual touches to a garment places you in a league all your own.”
The “plug” is a luxury that allows you to not have to worry about how you’re going to get the latest. A plug extends past the world of sneakers into all aspects of one’s life and it’s probably one of the most essential parts in continuing to look good. The more plugs the better. It ties back into the 3 questions that go through someone’s head when they see you and the influence you have allowing you to skip waiting in line and just “grab and go” the latest pieces. But I will say the ability to maintain one’s individuality and own sense of style is it’s own luxury, hand distressing jeans & screen printing over graphic tees and adding your individual touches to a garment places you in a league all your own.
The Takeaway
Exclusivity is a key to luxury, but not the old exclusivity. The new exclusivity is also about individuality. Modern luxury is accessible and comfortable, which is why streetwear brands and accessible brands like Telfar are what Generation Z views as luxury. The ability to maintain one’s individuality and own sense of style is it’s own luxury, and Gen Z views personalization as the greatest luxury.
