CONSUMERS

MasterCard Advisors SpendingPulse: May 2010 U.S. Industries Report

by

Lucy Archibald

|

This is the featured image caption
Credit: This is the featured image credit

Michael McNamara, Vice President of Mastercard breaks down consumer spending figures for May 2010.

Over the last decade, collaborations between luxury brands and contemporary artists have gone beyond mere artistic partnerships towards a new kind of luxury branding.

PARIS – Art and fashion have always developed side by side, for fashion, like art, often gives visual expression to the cultural zeitgeist. During the 1920s, Salvador Dalí created dresses for Coco Chanel and Elsa Schiapparelli. In the 1930s, Ferragamo’s shoes commissioned designs for advertisements from Futurist painter Lucio Venna, while Gianni Versace commissioned works from artists such as Alighiero Boetti and Roy Lichtenstein for the launch of his collections. Yves Saint Laurent’s vast art collection, recently auctioned at Christie’s in Paris, testified to his great love of art and revealed the influence of a variety of artists on his own designs.

In the 1980s, relationships between luxury brands and artists were advanced when Alain Dominique Perrin created the Fondation Cartier. In the Fondation Cartier pour l’Art Contemporain, a book marking the foundation’s 20th anniversary, Perrin says he makes “a connection between all the different sorts of arts, and luxury goods are a kind of art. Luxury goods are handicrafts of art, applied art.”

The Fondation Cartier pour l’Art Contemparain building in Paris

Michael McNamara, Vice President of Mastercard breaks down consumer spending figures for May 2010.

Mastercard’s Michael McNamara puts consumer spending figures for this month into context and notes that despite the encouraging figures for luxury, companies should remain cautious and recognise the tendency for the sector to fluctuate in line with changes in the market.

Lucy Archibald
Lucy Archibald

Associate Editor

CONSUMERS

MasterCard Advisors SpendingPulse: May 2010 U.S. Industries Report

by

Lucy Archibald

|

This is the featured image caption
Credit : This is the featured image credit

Michael McNamara, Vice President of Mastercard breaks down consumer spending figures for May 2010.

Over the last decade, collaborations between luxury brands and contemporary artists have gone beyond mere artistic partnerships towards a new kind of luxury branding.

PARIS – Art and fashion have always developed side by side, for fashion, like art, often gives visual expression to the cultural zeitgeist. During the 1920s, Salvador Dalí created dresses for Coco Chanel and Elsa Schiapparelli. In the 1930s, Ferragamo’s shoes commissioned designs for advertisements from Futurist painter Lucio Venna, while Gianni Versace commissioned works from artists such as Alighiero Boetti and Roy Lichtenstein for the launch of his collections. Yves Saint Laurent’s vast art collection, recently auctioned at Christie’s in Paris, testified to his great love of art and revealed the influence of a variety of artists on his own designs.

In the 1980s, relationships between luxury brands and artists were advanced when Alain Dominique Perrin created the Fondation Cartier. In the Fondation Cartier pour l’Art Contemporain, a book marking the foundation’s 20th anniversary, Perrin says he makes “a connection between all the different sorts of arts, and luxury goods are a kind of art. Luxury goods are handicrafts of art, applied art.”

The Fondation Cartier pour l’Art Contemparain building in Paris

Michael McNamara, Vice President of Mastercard breaks down consumer spending figures for May 2010.

Mastercard’s Michael McNamara puts consumer spending figures for this month into context and notes that despite the encouraging figures for luxury, companies should remain cautious and recognise the tendency for the sector to fluctuate in line with changes in the market.

Lucy Archibald
Lucy Archibald

Associate Editor

Related articles

CONSUMERS

In the Gloom in China’s Luxury Market, Is 520 Still Relevant?

CONSUMERS

The Anatomy of the Perfect Brand Resort Takeover

CONSUMERS

5 Must Know Facts About China’s Millennials