Luxury Fashion Space In The Fashion Industry

Written By Gurnoor Kaur

Edited & Presented By Delhi Royale

Content

What’s Luxury Fashion | List OF Luxury Fashion Brands | Luxury Fashion Brand Management | Luxury Fashion Industry | Luxury Fashion In India | Luxury Fashion Designer

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What Is Luxury Fashion


Luxury fashion is defined by connotations with a high level of exclusivity, selectivity, extraordinariness, superiority, aesthetics, uniqueness, price, quality, and a variety of other intangible characteristics and symbolic meanings. The luxury fashion sense always carries symbolic value in the market.

Luxury fashion is the idea of carrying elegance and class with the elements of luxury. The idea of new upgrades is always luxurious as the new idea of luxury is opting for new routes to achieve the desired result. Luxury fashion goods are non-essential items that are highly sought after and associated with the wealthy or affluent. They are purchased for a variety of reasons, including self-worth and prestige, as well as the product's quality and craftsmanship.

Royals always seek an element of elegance in their lives which is offered by the luxury fashion market. Let's have an insight into what luxury fashion is all about and how the world is reacting to it.


List OF Luxury Fashion Brands

The world of luxury fashion is ruled by some monster brands. These brands are known as luxury fashion brands. Quality, elegance, and class all are offered by these brands. The world desires to wear and carry the fashion sense offered by them, a research data by Vogue has listed some top-class brands who are ruling the luxury fashion market. The list is topped by brand “Gucci” carrying a market value of 15.6 billion U.S. dollars. Gucci is worn by most celebrities either they stay in lockdown or come out to grab some awards on the awards night, “Gucci always ruled”.

The second spot goes to “Dior” founded in 1946 by French fashion designer Christian Dior. The credit of the huge success of “Dior” is being related to British-American actress Anya Taylor–Joy, who is appointed as the brand's global brand ambassador.

The third and fourth spots are occupied by Balenciaga and Moncler as both of the brand's adapted new updates in their fashion sense and the world has already accepted the proposal.

Some other famous luxury brands were "Prada" and "Da Milano". The market cap of Prada was 15.65 billion USD and the market consumption of the brand increased rapidly in days of pandemic too. The fame of Kim RI-RI, a South Korean actress is also contributing to the huge success of Prada. And Da Milano is also an Indian brand by Sahil Malik that has deepened its roots in the fashion market and had been giving top-tier competition to the world's top brands.


Luxury Fashion Brand Management

Customers are the most important topic when a brand is being created. The experience of customers matters the most in brand creation. When things are about luxury fashion then the idea becomes more complicated that’s why management is needed. Luxury brand management is exceptionally in demand as all the brands want to turn favorites by their customers. Nowadays top business schools are offering luxury brand management courses that teach the students exactly what is being desired by the top brands of the world. The LCBS (Luxury Connect Business School) offers the desired knowledge to students seeking competence in the luxury market. These courses guide students in providing detailed exposure to the luxury fashion world. The 100% placement rate makes LCBS the top choice of students, who wish to become luxury leaders of the world. One of the top universities which offer this course is NYU Stern School of Business, situated in New York. The university offers knowledge about luxury and retail-related to the luxury market. Another top name is “ESSEC Business School” Which provides real-life to exposure to the world’s fashion market in the MBA course of luxury and fashion management. Then comes “London Business School” which offers various scholarships for students keen to become luxury leaders of the world. HEC Paris is already situated in the fashion capital of the world which directly narrates a lot about the high standard of expectations that this business school carries in the field of fashion luxury brand management. Last but not the least, “Columbia Business School” situated at Columbia University where students can learn very details of fashion management and also seize practical knowledge through Columbia's Retail and Luxury Goods Club. These universities are some who can inject the right knowledge of luxury fashion brand management.


Luxury Fashion In India

The first name that clicks your mind whenever you hear the word royal should be India. India's knowledge of fashion is classy as luxury is merged in an absolute way in the nerves of Indians. The revenue generated by the luxury fashion segment is a whopping 1,275 million USD which is estimated to grow annually by 7.06%. Top brands of the world have their market in India, names like Louis Vuitton, Gucci, Chanel, Hermes, Salvatore Ferragamo, Dior, Burberry, and much more love to serve India. With foreign brands, there are some Indian brands too in the luxury fashion industry. Forest essential a cosmetic brand is a perfect example of India's sense of luxury and skincare culture and artistic fluency. Forest essential with the revenue of US $4 Million making India a firm in the world’s luxury fashion.Raymond” is another rich Indian brand of fabrics & designs. Not a single household is in India which doesn’t know about Raymond. The value of revenue that Raymond generated in the year 2021 was $ 800 million.

Then arrives Hidesign makes the work of carrying as class easier by providing royal carry bags. Top-quality leather bags make Hidesign one of the top luxury fashion brands in India. Gen Z is showering love on this luxury fashion brand. India is one of the world’s biggest markets and any kind of brand that wishes to flourish can't ignore India.


Luxury Fashion Industry