What: A rather emotional reflection on the end of a consumption cycle.

Why it is important: A decade ago, no one believed that consumers would end up mixing in their look fast fashion items with luxury goods, which is the case today. Frugality in luxury consumption might be very well a new reality in the coming months or years, which might impact the strategies, and profits, that luxury houses developed for the past ten years, based on streetwear and pre-worn looks.

The Financial Times compares the current context to the difficult situation that prevailed in the UK in the early 80’s, with an economy which was quite demanding on all social classes. Now that the whole country is trying to save on energy bills and cope with inflation, the newspaper draws a parallel and questions the utility of luxury fashion in such a context.

The journalist argues that now that a super consumption cycle is coming to an end, it might be the right moment to review what consumers own and actually wear and use the products, rather than keeping on buying new items that look pre-worn because this is the trend. The article is in a reality a call to more frugality, even going to the point of copying runway shows by similar-looking items purchased in thrift shops.

It is time to rethink our approach to luxury fashion