The Future Of Luxury: 7 Trends Reshaping The Luxury Industry

Luxury is Finally Getting its Technological Upgrade

From Renting Designer Clothes to Personalised Products and Lab-Grown Diamonds, we Look at 7 Trends that are Reshaping the Luxury Sector.

For years, incumbents in the luxury industry have shunned technology innovation, refusing to even sell products online. But luxury-forced e-commerce startups like FarFetch and Moda Operandi have changed the relationship between luxury consumers and brands by successfully building online retail businesses. Now incumbents are beginning to move online and compete with these startups, adopting luxury-specific technology tools to improve their marketing and distribution.

Paris-based luxury conglomerate LVMH has been particularly active over the past year, building a multi-brand online shop, launching a $50M+ venture fund dedicated to emerging luxury brands, and starting a Luxury & High-Tech program with Paris based incubator Station F.

The French company and its peers have also partnered with a number of startups offering everything from lab-grown leather to argumented reality mirrors to AI-based luxury goods authentication. 

Read more: https://www.cbinsights.com/research/future-luxury-trends/