Luxury Society’s selection of news articles that are not to be missed this week.
What We’ve Read: How LVMH is Expanding its Online Presence with Lyst
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
Luxury Society’s selection of news articles that are not to be missed this week.
1. LVMH’s Arnault Makes Further Investment in Lyst in E-commerce Push
LVMH has led a fundraising round in fashion search platform Lyst as the world’s largest luxury group by revenues seeks to expand and improve its presence online.
Read this on Financial Times.
2. The Hybridisation of High-End Watches
Hybrid designs may be a strategic tool for moving upmarket, asserting a pioneering spirit, charming elegant women, putting a poetic slant on luxury or jumping with both feet into the next generation watchmaking of the 21st century.
Read this on Europa Star.
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3. Balenciaga is Kering's Fastest Growing Brand
Men and young millennial shoppers are main drivers of a sales explosion at Balenciaga.
Read this on Business of Fashion.
4. Retailers are Missing the Mark on Personalized E-commerce Experiences
As e-commerce grows – at a rate expected to hit an estimated $2.8 trillion in sales globally by the end of 2018 – so too do misconceptions among brands about what shoppers truly want and how they behave online.
Read this on Glossy.
5. American Affluents Plan To Pull Back On Luxury Spending; Are Luxury Brands Ready For This?
Luxury consumers want more than quality, craftsmanship and service. They want luxury brands with high purpose.
Read this on Forbes.
Cover image credit: Lyst Facebook Page
Writer, Luxury Society
Before joining the editorial team at Luxury Society, Camille worked with a South African magazine, The Month, as well as a Swiss digital publication, Luxuria Lifestyle. She then went on to join the team at a leading business publication in Geneva, Bilan Magazine.