Markets have undergone pretty big changes since millennials entered their prime earning years.
The Luxury Industry is One Millennials Haven’t Killed, and People Are Still Mad About It. Remote work, online shopping, and social media have all affected consumer spending habits to the point of detriment to specific industries while causing a boom for others.
Now marketing professionals in every sector are stuck trying to figure out how to please a generation under-40s that has more access to goods and services than previous generations but less disposable income to spend on them.
Consequently, this leads to much commentary about what 20 and 30-somethings choose to or not to spend their bit of money on. We see this with all those articles about them killing the casual dining/ cable TV/ whatever industry, and it’s almost always framed as a bad thing. But in truth, some sectors are better at catering to these Millenials (and Gen Z) than others. The camping, skincare, and luxury goods designer bags industries are doing just fine.
The luxury industry was particularly innovative and had the strongest branding throughout the pandemic.
We accept that in the free market, only those who’re the most innovative and have the strongest branding and ability to navigate economic downturns can come out on top. – something the luxury industry was particularly good at throughout the pandemic. But I’ve noticed Millenials’ spending habits seem to face a bit more scrutiny than others did at their age due to the particular economic concerns that prevented them from obtaining more traditional markers of adulthood like home ownership. Whenever we spend on something, topics surrounding housing, marriage, or starting a family are also brought into the conversation and often lead to many snap judgments about Millenials’ perceived irresponsibility or misaligned priorities.
Millennials and Gen Z seem to have no problem spending some of their disposable income on luxury goods
A great example is when Fortune magazine recently revealed data showing that Millenials and Gen Z seem to have no problem spending some of their disposable income on luxury goods, but only because they save so much money by living at home with mom and dad.
As you can imagine, these findings made their way around the internet. As any Millennial-focused topic does, it got some pretty unsavory reactions from those who misunderstand the motivations of younger generations.
For better or worse, Millennials are an economic force to be reckoned with, and I think understanding their approach to work and life is key to understanding why they would choose to spend on things like luxury goods and leisure activities over putting as much energy into more traditional markers of success.
Even in places with more moderate housing prices, a luxury designer handbag is still cheaper than a home.
Many Millenials – especially those on the coasts and HCOL areas – have accepted the economic realities of their lifetime and have begun to make tradeoffs for the sake of still wanting to live fulfilled lives, even if it means becoming a permanent renter or living with their folks.
If you feel like you’ll never be able to own a home no matter how much you save, at some point, you’ll simply stop aiming to do so and divert your money and attention elsewhere. Even in places with more moderate housing prices, a luxury designer handbag is still cheaper than a home.
Cultivating Cultural Capital
Never underestimate how having the right tastes, preferences, and interests can help move you forward. For some industries like real estate, banking, and advertising, projecting an image of success is somewhat necessary to get ahead (meaning eventually making more money to be able to move out of your parent’s house) so looking the part can be a strategic move to show you mean business or that you’ve still managed to make it.
Gone are the days of waiting for a CHANEL bag from your employer alongside a fat pension. You’ll have to figure out how to get that CHANEL flap bag yourself.
Home is Where the Heart (and Your Luxury Collection) Is
Low or high income, debt or no debt – I always feel like articles about adults still living at home ignore the fact that some people prefer living in households with their parents, children, and other relatives.
According to the World Economic Forum, one-quarter of U.S. adults ages 25 to 34 lived in a multigenerational family household as of 2021. And for many of those households, remaining at home isn’t only considered to be the financially savvy thing to do. Still, it is encouraged and embraced, if not outright expected (depending on the culture.) Because even if it doesn’t save money on rent, it sure does on child and elder care.
I’m not writing this to encourage anyone to spend outside of their budget or at the expense of their financial well-being. I don’t feel like these headlines ever tell the whole story.
I’m in my own home now but wouldn’t feel bad about moving back in with family if my spouse or I ever needed to – there’d be more love and LOUIS VUITTON to go around.
The rise, fall, and rise of DIOR’s small but mighty icon.
This little bag was dreamt up by DIOR’s former artistic director John Galliano, its shrunken saddle shape and stirrup-like ‘D’ charm.
Whether or not you enjoy equestrian pursuits, you’ve probably heard of the DIOR Saddle. This little bag was dreamt up by DIOR’s former artistic director John Galliano, its shrunken saddle shape and stirrup-like ‘D’ charm a “tribute to the elegance of the equestrian universe”. One should note, it’s probably not suitable for horse riding.
Some conjecture that the DIOR Saddle bag was inspired by a 1976 Helmut Newton photograph entitled ‘Saddle I, Paris.’
The DIOR Saddle made its first appearance in 1999 in DIOR’s spring/summer 2000 ready-to-wear show, slung upon the shoulders of models dressed in Galliano’s provocatively split mini dresses, horse-bit-buckled hotpants, and sexed-up denim. Speaking of sex, some conjecture that the Saddle bag was (at least in part) inspired by a 1976 Helmut Newton photograph entitled ‘Saddle I, Paris’. It depicts a model on all fours, wearing jodhpurs, riding boots, a push-up bra, and, most importantly, a saddle – stirrups and all – upon her back. This theory has never been verified by Dior, though the house has never shied away from the Saddle’s sexy connotations; one only has to look at Nick Knight’s 2000 ad campaign, featuring two models passionately entwined, for proof.
Shortly after its release, the DIOR Saddle made its way into season three, episode five of Sex and the City.
But back to the bag, and specifically, its induction into the early noughts (unofficial) It bag hall of fame. Sure, Galliano knew how to create objects of desire, but no one induced shopping fever quite like Carrie Bradshaw. Shortly after its release, the DIOR Saddle made its way into season three, episode five of Sex and the City, as the means by which Carrie transported her contraband cigarette on her second date with anti-smoking Aidan. The Saddle in question, an equestrian-print version in pink, white, and gold, is now near-impossible to get hold of, as you might imagine.
Carrie Bradshaw. The DIOR Saddle made its way into season three, episode five of Sex and the City.
Galliano reimagined the DIOR saddle bag in various, highly-collectible guises, including leopard spots, the house’s iconic Oblique pattern.
The DIOR Saddle’s It bag status was cemented and reflected in DIOR’s 2001 accessories sales; WWD reported up by 60 percent. By 2003, the DIOR Saddle was at its zenith. It was toted by the era’s It bag-defining celebrities, notably Paris Hilton, who was pictured with one in white leather and another in indigo-rinse denim. Galliano reimagined the bag in various, highly-collectible guises, including leopard spots, the house’s iconic Oblique pattern, and the (now extremely rare) Christian DIOR Daily newspaper print – popularised when the aforementioned Ms. Bradshaw wore it in dress version, in the penultimate episode of Sex and the City’s third season.
If an It bag is defined by its zeitgeisty appeal, it’s ultimately destined to be retired to its dustbag, and the Saddle was no exception. It was notably absent from DIOR’s spring/summer 2007 show, a subdued collection of taupe-hued skirt suits and discreet, ladylike handbags. The economy was on the down-turn and so too, the logomania amongst which the Saddle had thrived.
The DIOR Saddle in DIOR’s iconic oblique pattern.
The Y2K icon was now being resold on consignment and via eBay at a fraction of its original price tag (in some cases under £100), a vestige from a bygone era of maximalism and irreverence. It seemed impossible for such an antique of the 2000s to return to favor, hence the bargain prices.
If anything is certain, fashion is a fickle mistress and Beyoncé can do anything. In 2014, the singer signaled the DIOR Saddle’s return when she was photographed clutching one of Galliano’s original designs. Two years later, Korean popstar CL followed suit, proudly brandishing an ‘Adiorable’-print DIOR Saddle on Instagram. Y2K v2 was here. Saddle fanciers clamored to eBay, Vestiaire Collective, and the like to snap up their own archive pieces, and prices spiked. Those who had been prescient enough to buy a pre-loved Saddle bag between 2007 and 2014 had made a very wise investment.
Customers started searching for pre-owned, Galliano-era DIOR Saddles as soon as the autumn/winter show 2018 streamed
If appetites weren’t suitable, DIOR then launched a social media campaign, for which 100 fashion insiders posted about the #DIORSaddle on Instagram. Within 48 hours, searches for the style spiked by 957 percent. Never underestimate the power of 2000s nostalgia.
This year, for cruise 2023, Dior reinvented it once again.
It may have Y2K It bags status and a trending hashtag in its history, but the DIOR Saddle has more to it than zeitgeist appeal, not least of all its impeccable craftsmanship. This year, for cruise 2023, Dior reinvented it once again, calling upon Andalusian artisans to lend their centuries-perfected craft to the Saddle. In this video, Seville-based leather craftsman Javier Menacho describes how his expertise in saddlery has been applied to this season’s DIOR Saddle bags – apt, considering the DIOR Saddle’s equestrian influences.
From 2000s icon to forgotten favorite to fashion phoenix, the DIOR Saddle has had quite the ride – pun intended. As we find ourselves firmly back in the saddle, there’s no better time to round up the best Galliano-era and modern-day DIOR Saddles across the web. . And, for more in-depth histories of the most iconic fashion items of all time, head this way.
10 reasons why you should get the new CHANEL 19 flap bag.
If there’s just one bag that you would have to get from CHANEL’s current collection, it should be the high-quality CHANEL 19. Its charm and appeal lie in the fact that the bag embodies the very essence of the French luxury house and all its codes, but with a contemporary twist that makes it a modern-day favorite, one’s that perfect for the woman of today.
01 – The 19 Bag was created by Karl Lagerfeld and Virginie Viard, and besides being in the current F/W19 collection, more variations of it will be launched in the upcoming Cruise 2020 collection as well.
02 – Not only is 19 an important number for Chanel (it’s the birth date of the founder, after all), it marks the year (2019) which the bag was introduced. Another bag that was named after the same year it was launched? The now iconic 2.55 Bag that was launched in February 1955 by Gabrielle Chanel herself.
03 – You will spot all the beloved house codes in one single bag, only this time it has been given the XL treatment. This is evident in the oversized CC clasp, enlarged quilting pattern and long (and so thick) chainlink straps that come in a trio of finishes from aged gold to ruthenium to silver.
04 – Spotted an extra curb chain sitting directly above the top flap? Well, that’s meant for you to carry the 19 Bag like a chic top handle handbag.
05 – You could carry it in one of many ways. From carrying the bag under the arm like an oversized clutch, or by slinging the leather-interlaced metallic chain over the shoulder or across the body.
06 – The bag is rendered in ultra-supple materials like soft goatskin/lambskin or wool tweed, which intentionally gives it a relaxed silhouette that’s quite different from the other bag icons within Chanel.
07 – For now, colours for the new bag include classic Chanel shades of Beige, Black and White, along with seasonal hues of Dark Pink, Deep Red, Green and Turquoise crafted in soft supple leather.
08 – Available in 3 sizes for now, it comes in ‘Regular’, Large and Maxi, along with a belt bag version that’s meant to be worn casually around the waist.
09 – Need the exact measurements? Well, the Chanel 19 Maxi Flap comes in at 36 cm by 24 cm by 11 cm, while the Chanel 19 Large Flap is 30 cm by 20 cm by 10 cm. The ‘baby’ of the family? The Chanel 19 ‘Regular’ Flap measures some 26 cm by 16 cm by 9 cm,
10 – How much? If you buy our authentic quality replicas you save up to 90% off retail.
