Makua Adimora, Behavioural Analyst, Canvas8
The notion of heritage has been a cornerstone of luxury for decades, providing a sense of stability and historical connectivity. In the polycrisis, people increasingly want brands to be an anchor in culture, prompting some labels to reimagine heritage and adapt it to the needs of contemporary consumers. People are looking for roots and belonging in luxury spending Contemporary.
Heritage Forward
People are seeking luxury fashion that celebrates heritage in its different meanings and iterations, showing a growing appreciation for brands that honour legacy while adapting to modern values. Burberry and Barbour are drawing from their British roots to resonate with contemporary consumers, bridging the gap between timeless quality and modern aesthetics. Barbour, for instance, is leveraging its 130-year history to appeal to both traditionalists and trendsetting Gen Zers through collections that reinterpret classic designs with current flair. Meanwhile, in India, HNWIs are gravitating towards traditional apparel for its timeless sophistication, reflecting a desire to honour craftsmanship and heritage. This demand drives the preservation of traditional techniques like handloom weaving, which is celebrated for its enduring relevance. And in Vietnam, the fashion scene is witnessing a fusion of cultural heritage and contemporary designs, attracting both local and international audiences with unique and accessible luxury.
Insider Perspectives
With global luxury brands deepening their presence in non-Western markets, audiences want to see them tell compelling stories that align with their cultural identities. Luxury brands are, in turn, paying homage to diverse cultures to establish themselves as cultural insiders in various markets. Gucci, for instance, is embracing Korean heritage through its Cultural Month initiative, spotlighting local artists and performers to connect with South Korea’s luxury consumers. This aligns with trends in China, where Loewe is engaging with Chinese history by hosting immersive exhibitions in culturally significant locations, while Prada is harnessing AI to integrate traditional Chinese narratives into its campaigns. In Malaysia, Mimpikita is partnering with boutique hotels to create pieces that tell stories of history and tradition, blending the past with modern design.
“The modern consumer is now not only well travelled but also deeply interested in the origin story of everything they buy, clothing included. In a world where there are now so many brands to choose from, having a brand philosophy that your clients resonate with is what keeps people coming back.” — Sangeeta Kilachand, founder of Sangeeta Kilachand Heritage Clothing.
Modern Reinventions
Other luxury brands are celebrating heritage by creating a unique blend of tradition and modernity that appeals to younger buyers. For instance, Palace collaborated with Vivienne Westwood to launch a capsule collection that combines both brands’ iconic styles, drawing on their disruptive histories in fashion. This collaboration emphasises the power of storytelling and underscores the importance of heritage while introducing a fresh perspective. Similarly, Indian jewellery brand Aurus is highlighting the cultural roots of its designs while modernising silhouettes to resonate with the younger generation’s preferences. In China, luxury brands are increasingly focusing on the guochao movement, intertwining traditional Chinese elements with modern luxury – but not many genuinely do justice in their attempts.
Jesse Pitts has been with the Global Banking & Finance Review since 2016, serving in various capacities, including Graphic Designer, Content Publisher, and Editorial Assistant. As the sole graphic designer for the company, Jesse plays a crucial role in shaping the visual identity of Global Banking & Finance Review. Additionally, Jesse manages the publishing of content across multiple platforms, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.