The Decline and Fall of the Viral Microtrend BoF
Read Fashion Week News & Analysis Here Nearly one third of US adults say they intentionally bought a dupe of a premium or luxury product, and the #dupe hashtag on TikTok has nearly 6 billion views. Consumers are not only looking to spend less, but they are also trying to stretch their money further. Over 60 percent of consumers in the US and UK say they are attempting to save money on fashion “often” or “as much as possible.” In the US, this figure is as high as 75 percent. In 2022, consumer confidence indexes in the US, Eurozone and China hit their lowest levels since 2005, and confidence in China once again neared record lows in August 2024. In the first half of 2024, consumer confidence was about 10 to 30 points below 2019 averages across the Eurozone, US and China, though confidence levels in the Eurozone and US are ticking up slightly from 2023. Retail and wholesale made up about 30 percent of sales last year, and could account for half of the business in the future. His use of twisted, asymmetric patterns makes for a look that is at once sexy and avant-garde. The Swedish fast-fashion behemoth popularised guest collaborations in the 2000s with collections that “democratised” the designs of everyone from Karl Lagerfeld to Comme des Garçons’ Rei Kawakubo, generating significant buzz and store traffic. We are excited to confirm that we are currently developing a new BOF location in Birmingham’s Jewellery Quarter. This workspace will provide a working base for our Midlands and Northern teams as well as offer a convenient meeting space for our wider team, clients and suppliers. While many mainstream brands reference themes like falling in love, and mysterious, stylish Parisienne women as inspiration, a newer crop of brands are edgier, grittier and more subversive. Bof Casino APP Bazar, which launched last year, operates a marketplace where brands list items that aren’t in the condition to be restocked and sold at full price. It notably works with fast fashion sellers like Cider — a sector that heavily contributes to landfill waste. There’s also Revive, a software firm that launched in January, which helps brands like Michael Kors and Djerf Avenue refurbish returned items to resell on their own sites or through resellers like Poshmark and eBay. The perception among consumers is that they get more value from resale purchases. 60 percent say shopping secondhand apparel gives them the most value for money. In the non-luxury space, players such as ThredUp and Vinted broke even for the first time in 2023. Shoppers are not eager to increase their fashion budgets, even as economic prospects and consumer sentiment improve in some regions. Over 80 percent of shoppers plan to spend the same or less on clothing, footwear and accessories in 2025. Over 40 percent of shoppers in the US, UK and Germany are spending less on clothing, footwear and accessories than they did a year ago. In the BoF-McKinsey State of Fashion 2025 Executive Survey, consumer confidence and appetite to spend was ranked by fashion executives as the top risk to growth. Wholesale has been an avenue for Fashionphile to enter international markets. This has led to lost value due to inefficient handovers, opaque processes and limited data sharing across teams and channels. While over-stocking has been the preferred option to maximise sales, there are further sustainability considerations that may impact this strategy in 2025, including regulation and self-imposed emissions targets. Luxury inventories rose 2 percentage points in the first half of 2024 compared to 2023. LVMH and Kering recorded excess inventory of almost €5 billion ($5.4 billion) combined in 2023, with impaired inventory accounting for about 4 to 8 percent of total sales. In 2024, despite overall industry inventory levels remaining broadly flat, about one third of brands continued to struggle with inventory positions. Secure Transactions and Efficient Customer Support 🔒 Begin your adventure with our enticing Bof Bof Casino welcome package, followed by our exclusive VIP programme. Every Tuesday, you can take part in the Mix Party, tripling your £30 deposits and rewarding 30 FREE SPINS on select slots. Another promotion is the Free-Ride Thursdays, offering a 35% bonus on all deposits. Celebrate the arrival of the weekend with our luxury pot, offering a 50% match bonus and 50 FREE SPINS. Estée Lauder Knows How to Cut Costs. Can It Also Rebuild Growth? Benefitting from this interest is not just conglomerate-backed luxury brands, but a crop of indies-turned-powerhouse labels, such as Byredo, Le Labo and D.S. & Durga, which all started as small independent makers with esoteric scents and guerrilla marketing tactics. Those brands, minted in the mid-aughts, have created a clear playbook for success and a template for a frothy exit, increasing investor interest. The European Union has unveiled plans to significantly water down landmark sustainability rules that would require large fashion brands to report more details about their environmental footprint and take on more responsibility for abuses in their supply chains.
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