50 Million Consumers Cease To Purchase From Luxury Labels Like Burberry, And Dior: Here's Why

Luxury fashion labels like Dior and Burberry have long held to the appeal of representing a lifestyle accessible to high net-worth individuals, however, Bain and Company's latest report in 2024 revealed a major in shift in fashion sensibilities.

50 million luxury consumers have stopped purchasing from high-end brands like Louis Vuitton, and Chanel, making this transition the first decline in luxury consumption since the Great Recession of 2009, according to the Bain and Company's data, cited by media reports.

The shift in what people expect luxury fashion houses to deliver comes on the backs of lack in innovations, trendier competitors functioning at hyper-local levels across markets. fall in the lux-brand appeal, and sustainability woes, it said. So, what's actually working then?

Streetwear trends that proved victorious on Indian streets in 2024

Stickler for your roots: Indians always feel aa sense of pride by staying true to the way of life that surrounds them from the local art forms to cultural influences, speaking of which the tribal art forms like Pattachitra, block prints, and hand embroideries to your denims, bomber jackets, and cargos was vividly visible.

Green flag for sustainability: It's a greenlight for being an eco-friendly brand that caters to a larger consciousness, that's rapidly building among fashion lovers in the 21st century. People are keen on embracing natural fabrics, and statement pieces made out of recycled materials.

Ubercool layer-up: Have you tried out pairing with earthy-hued cotton shirt with a funky graphic T-shirt and minimalistic pants. To kick it in-style, opt for a vintage-inspired sneakers.