Filed under: Fashion, Stores | Tags: Brands, Cash, Gulfstream, Luxury, Vintage
With the current economic downturn consumers´ priorities are beginning to shift even in the usually stable high net worth and ultra high net worth individuals. A recent article in Portfolio highlighted how people are starting to part with many of their prized luxury possessions in exchange for cold hard cash. The ultimate luxury in the market today is liquidity.
Several examples are given including some people selling rare wine, jewels, and in some cases even private jets.
What this means for retailers is that “Anyone peddling pre-owned Birkin bags, Chanel suits, and Manolo Blahnik pumps is also in luck. The proprietors of luxury clothing consignment stores are seeing increasing numbers of customers willing to sacrifice fashion for financial gain. “It’s a shift in the way they are viewing their assets,” says Stephanie Phair, head of merchandising at Portero.com, a luxury-goods consignment website, of her sellers. They increasingly want to recoup some of the costs of old items before charging ahead with new ones, she adds. ´There’s a sense that maybe they don’t need two Birkins. They are seeing accessories as a tradable asset.´ ”
However, in the end, the retailers in the article point out that the rich and super rich remain essentially unaffected in the face of the economy. “At the very high end, we’re actually not seeing any difference. It’s common knowledge that at the very high end of the industry, these people are immune to the recession.”
This is just further evidence for retailers, especially those in the high-end segment, that priorities are shifting to those of quality, timeless style, and exclusivity. Superfluous and unnecessary “things” are simply being ignored.
At the same time, some brands are exploring opportunities in “re retail” or selling vintage products. Far from a thrift store, both American Apparel (below is their new brand, “California Vintage” in Berlin) and German based Winderkind have opened shops specializing in premium vintage clothes. Whether they are more popular for buyers are sellers remains a mystery, but it is nice to see them evolving with the market.
Filed under: Advertising, Art/Design, Fashion, Stores | Tags: Alpenstueck, Berlin, Brands, Clothes, Tradition, Trends, Tyrol
A trend is one that originates in a particular time and place, and gradually expands on a linear plane. Perhaps a style of shoes or sunglasses is created and distributed to a celebrity who wears them to a popular restaurant. Once an image of this circulates through the media, people start buying this product, until something new comes along.
A movement, on the other hand, is based on a way of life, not a singular product, and thus exists on more than one plane. Movements are rare, authentic, and grow more slowly and sustainably. This could be the hippie, punk, or preppy movements or lifestyles, for example.
First seen on the streets of Berlin, there is a new movement aptly named “New Tyroleans” by the Future Laboratory in London. It is born from the current generation of German twenty and thirtysomethings who identified with the simpler and more authentic lifestyle of the Alpine region in Austria, Switzerland, Northern Italy, and parts of Bavaria. The Future Lab claims they were “suffocated by “patriarchal values and political conservatism” and rebelled through adopting this culture.
I classify this as a growing and appealing lifestyle do to its diverse manifestations within modern life.
Food: Perhaps the most obvious presence of New Tyrolean-ism is in the food that is becoming increasingly popular in Berlin and other cities. It is creating lighter and slightly updated versions of traditional classics like fried perch, beef consummé, spätzli, and Apple strudel. Restaurants like Alpenstück, in Berlin on Gartenstrasse, have excelled in this cuisine offering a satisfyingly traditional, but healthy and uplifting offering. Another great example is Meierei on Kollwitzstrasse (especially for breakfast).
Interior: Interiors are typically shades of grey and creme with a heavy reliance on natural materials. The following picture is previously mentioned Alpenstück.
Apparel: New Tyrolean-ism in apparel is characterized by close attention to texture, weight, and color. Typically these colder regions require clothes with significant heft (sweaters, boots, scarves, coats) so the influence is shown through heavy and woolen materials and natural fibers that are typical here. Colors are also based on natural and muted tones. Far from “earth tones”, they are heavily saturated but rich with darker shades or many times gradient tones of the same color family.
Leisure Time: New Tyroleans appreciate nature both inside and outside. Bars like No Kangaroo in Berlin who advertise themselves as offering “genuine Austrian specialties in a typical alpine ambiance. The atmosphere is best described as a cross between a Viennese café and a Salzburg après ski hut – an ideal gathering place for families, groups of friends and, of course, those who love the Austrian culture and lifestyle.” New Tyroleans ski, hike, go for walks, and enjoy drinking beer, wine, and schnapps.
Commercial Appeal: This movement should be interesting for retailers and advertisers due for two reasons. First those who are joining the movement are an exceptional crowd. Typically quite worldly, educated, and willing to invest in products and activities that are genuinely rewarding. This a young and hip group of spenders and the will see the eventual products that they identify with- it is not about pro-actively seeking New Tyroleans, the key is to reassure them that you understand the importance they place on quality, and timelessness. Secondly, New Tyroleans are passionate about their lifestyle. As stated above, the know who they are and what they like, and are keen to be as authentic about it as possible.
Retail Refugees 