Global economies aren’t exactly out from under the cloud of recession just yet, but there are signs of financial health sprouting up like the first crocuses of spring.
International forecasts for the luxury sector are generally positive, despite some jitters among consumers, especially in Europe, with concerns about consumption slowdowns in China as the government cracks down on high-ticket bribery and corruption. Here, a few prognostications for luxury segments, a look at some recent stats and a few figures for cocktail party conversation.
Forecast for worldwide luxury sales by category, 2013 vs. 2012: Apparel sales: Up 6 percent. Jewelry, watches, pens and lighters sales: Up 8 percent. Leather, shoes and accessories sales: Up 10 percent. Fragrances and cosmetics sales: Up 4 percent. Fine tableware sales: Up 2 percent.
2013 Growth forecast, by worldwide market: Europe: Up 4.5 percent. U.S.: Up 6 percent. Latin America: Up 10 percent. Japan: Up 2 percent. Asia: Up 17 percent. Middle East: Up 9 percent. Rest of the World: Up 9 percent.
200 percent: Increase in high-net-worth individuals (with more than $1 million in onshore assets) in India, from 46,000 in 2006 to 132,000 in 2013.
Value of Luxury Markets in: U.S.: $75 billion Japan: $25 billion China: $20 billion Hong Kong: $10 billion India:$6 Billion Brazil: $4 billion
564 million: Number of people in China who used the Internet last year. 242 million: Number of people in China who shopped online last year. $210 billion: Estimated e-commerce revenues in China in 2012. $71 billion: Retail value of rough diamonds worth $15 billion. $51.9 billion: Turnover of the Antwerp diamond industry in 2012. 74 million: Euros spent annually on jewelry and watches by U.S. shoppers overseas. 2013 Italian exports forecast: 44.32 billion euros or $56.7 billion, up 2.2 percent from 2012. 2013 Italian imports forecast: 27.65 billion euros, or $35.3 billion, up 4.9 percent from 2012. 90: Percentage of affluent women in India, the third-largest global diamond market, owning a diamond. 42: Percentage increase in 2012 spending for fine watches and jewelry by non-EU citizens in Paris from 2011 (22 percent for London and 55 percent for Milan). 88 million: The number of outbound trips high-end Chinese shoppers will make this year. 155 million: The number of annual outbound trips high-end Chinese shoppers will make by 2020. $100 million: Price for Graff’s peacock brooch, measuring 4 inches in height, made from a total of 120.81 carats of diamonds with a 20.02-carat deep-blue pear-shaped diamond in the middle. 3,550: Hours of work to make the Phénix necklace by Van Cleef & Arpels. 320: Hours of granulation to make the dial of one Cartier Etruscan Panther watch employing the ancient Etruscan technique. $108.74 billion: The value of China’s department store retail market.
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)
The @cfda has shifted the dates of #NYFW, with Men’s showing on February 5 through February 7, and Women’s will directly follow, running from February 8 through 14. The preliminary schedule will be released on the CFDA’s web site in the next few days, but Mark Beckham, VP of marketing for the CFDA, revealed that @rafsimons will be back to close the men’s-specific part of the week with a show on February 7 #wwdfashion (📷: Kelly Taub)
@ferragamo is introducing a new space dedicated to the development of women’s and men’s leather good samples. The laboratory, which is created eco-friendly materials and designed to reduce the environmental impact of the manufacturing processes, will allow the company to expand its accessories offering through traditional artisanal approaches. #wwdfashion (📷: @aitorrosasphoto)
How does a “regular, degular, schmegular” girl from the Bronx, N.Y., become a Grammy-nominated artist with a certified platinum record in less than a year? Call it the @iamcardib come up. The 25-year-old has become a musical sensation, and the fashion world is taking note. “If I could describe her style I would say drama. She’s really into the dramatics,” says Cardi B’s stylist @kollincarter. See how Carter styles her bold and out there looks with the link in bio. #wwdfashion
“There is no formula. There is no guideline. I can watch Ted Talks all day, but there is no one who can advise me on exactly what it is I should be doing,” said @ronniefieg, CEO of @kith, in an interview with WWD’s @ariahughes at the brand’s new SoHo office in Manhattan. Head to WWD.com to see how Fieg went from hanging out in shoe stockrooms at 13 to building his own business. #wwdfashion (📷: @weston.wells)
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion