Luxury Fashion Key Concepts

A business model characterized by rapidly producing and distributing trendy, affordable clothing, often mimicking high-fashion designs.

The process by which fashion trends move from high-end designers to mass-market retailers, making them accessible to a wider audience.

Collaborations between luxury and fast-fashion brands, combining high-end design with affordability.

The traditional fashion calendar with two main collections a year (spring/summer and autumn/winter) has been disrupted by the rise of fast fashion.

Fast fashion brands often mimic popular items from high-end designers, offering affordable interpretations of luxury designs.

A guarantee that documents the traceability of a product's entire creation process, from raw materials to delivery. It ensures transparency and ethical sourcing.

A comprehensive combination of tangible and intangible attributes that represent a brand's identity, values, and customer experience.

A method of pricing where the value of a product is set based on its perceived worth to the customer.

Stores specializing in luxury brands, offering a curated selection of high-end items.

Retail spaces within larger stores, showcasing a brand's product line and identity in a distinct area.

Retail stores owned and operated by a brand, offering a complete brand experience and direct control over retail operations.

A distribution strategy where a brand manages its entire supply chain, from manufacturing to retail, offering greater brand control and direct customer engagement.

The initial interaction between a customer and a product, often through packaging design and presentation. It aims to enhance the purchase experience.

Organizations that provide funding for their own charitable purposes.

A relationship where a more experienced person guides a less experienced person.

Combining two existing brands to create a new product or service.

A market segment focused on achieving a luxurious feel through premium beauty products.

The trend of using online platforms like YouTube and Instagram to promote and sell beauty products.

Cosmetics that are environmentally friendly and often use natural ingredients.

The rise of beauty vloggers and the ability to purchase products directly through social media platforms.

The emergence of brands like Elizabeth Arden, Helena Rubinstein, Max Factor, and Revlon, which revolutionized cosmetic products and marketing.

The process of brands strengthening their digital security systems against cyber threats, recognizing it as a critical strategic priority.

The challenge faced by companies in attracting and retaining skilled employees in a rapidly evolving digital landscape.

The uneven pace of economic recovery across different consumer markets and manufacturing regions, requiring careful consideration and precise investment from fashion companies.

The disruption in global supply chains, causing delays and bottlenecks, forcing companies to re-evaluate their sourcing strategies and optimize logistics.

Rethinking and optimizing the way brands distribute their products, carefully selecting partners aligned with their values.

Focusing on innovation and making the company leaner by reducing unnecessary expenses.

Leveraging artificial intelligence (AI) to automate processes and enhance efficiency, potentially reducing the need for human interaction.

Using technology to create immersive experiences for customers, allowing them to virtually interact with products in a more engaging way.

The practice of using social media influencers to increase brand visibility and desirability.

The act of gathering ideas and feedback from a large group of people to create new products or services. This can be applied to developing new makeup shades based on consumer preferences.

A business strategy where companies integrate different product categories or services to offer a more complete customer experience. For example, a beauty brand might partner with wellness services or fitness brands to offer a holistic approach to beauty and health.

Leveraging technology to personalize skincare routines, makeup recommendations, and other beauty services. This can be done through skin analysis apps, virtual makeup try-ons, and personalized product recommendations.

The gradual shift towards a more inclusive and less gender-specific approach in beauty products and marketing. This includes creating products for all genders and promoting body positivity without focusing on traditional notions of femininity or masculinity.

A focus on promoting healthy aging rather than simply trying to erase the signs of time. This involves promoting healthy skincare practices, preventative measures, and celebrating natural beauty at all ages.

A strategy where brands use sampling to introduce new products to consumers and build brand loyalty, especially during a pandemic.

The combination of emotions and long-term memory, located in the limbic system of the brain, which plays a role in how we perceive and remember scents. This is closely tied to the way we experience and associate perfumes with specific memories and emotions.

A technology that allows digital information to be shared among parties without being copied. It ensures data is immutable and trusted.

A vision of a decentralized and open web with features like NFTs and cryptocurrencies. It aims to empower users and give them more control over their data.

A digital environment combining augmented and virtual reality to create immersive experiences. It bridges physical and virtual worlds.

The release of data about a company's environmental, social, and governance practices. It helps assess a company's sustainability and ethical conduct.

The fashion industry's impact on human rights, especially in developing countries where labor conditions are often overlooked. It emphasizes ethical production and worker well-being.

The use of animals in fashion, including for materials and testing. It raises concerns about animal welfare and ethical sourcing.

The industry's efforts to minimize its environmental impact through practices such as water and energy conservation, use of sustainable materials, and recycling initiatives.

A system that promotes the reuse and recycling of post-consumer textiles on a large scale. It aims to reduce textile waste and create a circular economy.