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The Business of Fashion Podcast
Why Is Everyone Obsessed With Accessories?
00:22:06
From Labubu charms to stacked bracelets, shoppers are using accessories to personalise minimalist wardrobes, boosting small labels and hinting at a lasting behavioural shift. Diana Pearl joins The Debrief to unpack this trend.
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- [00:00]
A
Foreign.
- [00:08]
B
Hello, and welcome to the Debrief from the business of fashion, where each week we delve into Our most popular BoF professional stories with the correspondents who created them. I'm executive editor Brian Baskin.
- [00:20]
C
And I'm senior correspondent Sheena Butler. Young, colorful charms, labubu laden handbags, and a ring on every finger and toe. When it comes to accessories right now, the trend, it seems, is more is more. And we're not talking $5 beanie babies or troll dolls from when I was a kid in the 90s. Today, big name luxury labels like Prada and Gucci, alongside brands like Coach and the Gap are getting in on the trend and charging a pretty penny for it in some cases.
- [00:47]
B
Today we're asking what's fueling the accessory? Pile on how are brands capitalizing on it? And how far can this trend go before the cycle inevitably turns? Joining us is BoF Senior News and features editor Diana Pearl, who's been tracking this phenomenon. Diana, welcome to the debrief.
- [01:06]
A
Thanks, Brian and Sheena, excited to be here.
- [01:09]
B
Let's set the scene for our uninitiated listeners. When you're talking about the accessories craze, what are we really talking about here?
- [01:18]
A
So it's both people wearing more of the accessories they've always worn. So wearing instead of one necklace, they wear three or four. Instead of, you know, one or two rings, they've got one on every finger. The bracelet stacks, you know, multiple earrings, et cetera, your cuffs. And then it's also the more unexpected accessories. So you have bag charms, toe rings, anklets, putting charms on anything from a hair scrunchie to your shoelaces. So it's both like doubling down on the accessories that have always been present in our wardrobes, but also introducing new ones.
- [01:52]
B
Okay, I want to dig in here. You're saying charms on your scrunchies.
- [01:56]
A
Yeah, Prada sells a scrunchie with charms. A charm on the.
- [02:01]
C
Are the charms on the scrunchie?
- [02:03]
B
This is the mystery. We will spend the next half hour unpacking. I can't think about anything else until I understand this. Fascinating. And where did this all begin? I mean, is there a patient zero for the charm craze or for the accessories craze generally?
- [02:17]
A
Yeah, I think that it kind of started with influencers. At least that's where I first saw it. Always does. You're seeing like, a Lily Sisto or a Courtney Grow, who I feel like we're embracing the, you know, more maximalist or unconventional accessories. You know, even two or three years ago, and that's really percolated. But throughout TikTok, I think Gen Z, which is really looking to define their sense of personal style, is leaning on accessories to do so, especially because minimalism in clothing still is very popular. Obviously, we're a few years off from quiet luxury, really being at, like, the peak of the zeitgeist, but people are still dressing in a more subtle way, but they also want to have a little more fun, and accessories are a way to do that.
- [03:00]
B
Yeah, let's talk about that, because I was just looking at some of your past work, and almost a year ago to the day, you wrote a story why fashion is maxing out on minimalism. And it's so interesting that these two trends can exist simultaneously.
- [03:13]
A
Yeah, yeah. And it's funny because I feel like this year there's been a lot of talk about maximalism making a comeback. And I think that the accessories craze is really how we're seeing maximalism exist today. It's like a new interpretation of it because people are still wearing relatively simple outfits. Everyone still loves the row. We're seeing brands like Kalmier grow, you know, was nominated for a CFDA award this year. I think that people, in a more like, economically uncertain time, they want to invest in pieces that feel like they'll last from season to season, year to year. You know, they don't want to buy something that feels like it'll be out of style. And in a year, especially as prices go up, they want to feel like they're getting, you know, a true value, getting something that will last. At the same time, there's still a desire to have fun with your clothes or have fun with your wardrobe rather than just your clothes. So I think that that's really where the accessory pylon has come out of. A lot of times, accessories can be less expensive. You know, like a nice cashmere sweater is $350, $500. You know, if you want to buy from the row closer to 2,000. So people want to buy something like a classic black, but then they can dress it up with, you know, a fun necklace or a fun earring look or something like that, that probably is going to be a little bit less expensive.
- [04:26]
C
I have to ask another very important question, similar to what Brian was asking about the scrunchies. Where do the Labubus fit into all of this? Right. So there's. There. You mentioned the. The economic backdrop. I also think there's a lot of, you know, there's the geopolitical backdrop. There's a lot of drama and uncertainty and darkness in the world right now. And it feels like people want to have a little bit of fun and be maybe silly. Like seeing a Labubu on a Hermes bag at first freaked me out a little bit. I the contracts, the contrast felt very stark. But how does something like that fit into the. The conversation?
- [05:00]
A
Yeah, I think the Labubu is almost like a symbol of the accessories craze. It's got that fun. There's so many different Labubus. So it also allows people to express their personal style. They, there's a bit of that like thrill of the hunt to try to find the right one. They're cute. You know, you can add it to an Hermes bag or you could add it to like a, you know, a hundred dollar leather tote from J. Crew. There's a lot of different ways to wear it and it really speaks to that desire. Like you said, for fun, for adding a personal touch to your outfit and just something light hearted. People want things that make them feel good.
- [05:33]
C
Are there also early signs that this is going to last? Like, you know, Brian mentioned that a year ago we wrote about minimalism being the trend and now we're saying that, you know, maximalism is back, but it's manifest, manifesting as accessories. Why does this time feel like potentially it could stick? Like it might not just be a trend or maybe it is a trend.
- [05:49]
A
You know, I spoke to a co owner of a boutique in Chicago and he said something that, you know, when this sort of behavior gets unlocked, where people start realizing, oh, it's fun to wear a few necklaces at once. Oh, it's fun to wear a few rings. It's fun to have a charm on my bag. It kind of unlocks something permanent. And no, I don't think that people are still going to be wearing toe rings necessarily in three years. Which toe rings did make a comeback this year. You know, it always is cyclical. But I think that we're going to see, you know, especially as Gen Z comes of age, finds their personal style, this is simultaneously happening. I think we'll see a consumer that really is just primed to think of accessories as a more important part of their wardrobe. Not just like a finishing touch, but a core element of it.
- [06:34]
C
I may never take my Labubu off of my Gucci purse. Then I'll keep it on for 20 years to come. I'll be a grandmother telling my grandchildren this Labubu.
- [06:42]
B
My daughter put it best that she said all the girls who used to have Stanley Cups. Have Labubus now. And it kind of killed the magic for me.
- [06:50]
C
I was gonna say, now I gotta take it off now that you put the Stanley cup and the Labubu comes off.
- [06:55]
B
Yeah. Pretty devastating, right? All right. Do we think this is the canary in the coal mine for minimalism? You know, like you were saying, this trend's been lasting forever, but maybe the scrunchie charms and Labubus have unlocked something in people, and they're gonna not be satisfied with the bag charms. They're gonna say, maybe I want a crazy bag now. Maybe I want to stop wearing, like a white button down and jeans every day. Like, they're gonna get a little more adventurous in the wardrobe, too.
- [07:20]
A
Yeah, I, you know, I think it could be like, we saw Missoni and Pucci, which are both very like, maximalist brands, really make a comeback this summer. So it could be, and it could be sort of almost like that gateway into a more maximalist look. This is how people are first experimenting with it and then expands more. I do think there is always going to be a consumer that is interested in minimalist style. That was something that, when I wrote that story last year that came up. And I just think there's always going to be someone who wants to wear like a great sweater and a great pair of jeans and then dress it up with accessories. So, yes, I think we'll probably see more maximalist style. The pendulum always swings. But I. I don't think that minimalism will ever fully go away in. In the wardrobe sense.
- [08:02]
C
Can we talk a little bit about price, by the way? I mentioned this earlier that, you know, some of these items cost a pretty penny. Like, there is a. A thinking that if you're maybe you're going to invest in the wardrobe, then spend just a couple bucks on the accessory. Now, some of these accessories are pretty expensive, but they also run the gamut. So like, a laboboo might be, what, 40 bucks? But then some of these charms go up to 250. Can we talk about the price range here?
- [08:26]
A
Yeah, I mean, I think that we all know luxury prices have gone up. So an aspirational customer who maybe five, six years ago would have bought the Gucci bag, the Chanel bag, you know, as a really, like, special occasion splurge. Now, that feels out of reach for them. They still want to buy into these brands. So buying a bag charm, or, you know, a piece of jewelry or something like that allows them to participate in this luxury sphere while spending still a little bit less money. They've kind of emerged as the new entry level products for luxury brands. I think also, you know, people see this perhaps as a bit of a trend. Like, I personally don't want to invest a huge amount in a bag charm, you know, so I think it's also something where people feel like I want to have a lot of necklaces, I want to have a lot of bag charms so that they are more willing to spend a little bit less. So while jewelry's definitely benefited from this, you know, fine jewelry, I also think plenty of people are happy to wear a necklace that's like a leather cord and it has a costume jewelry pendant or something like that. People want to find a mix of investment pieces that they feel like will last and then also, you know, more fun. Maybe I'll wear this for a season, but it's $50, so it's all good.
- [09:38]
B
I thought it was interesting that, you know, it mentions in the story that Gucci sells bag charms that are mimic the actual bags only at literally a twentieth of the price. And I'm curious if that's a widespread thing. I mean, are people really out there going, well, I can't afford a Gucci bag, but I can buy the tiny metal version of it to put on my Coach bag or, you know, I mean, what's the take up on that kind of thing?
- [10:02]
C
Do you remember Jessica Kwan, our editorial associate was on with the Gen Z episode and she said she was like, you know, she's supposed to be like the case study for this, like, and she wouldn't buy the charm. She was like, for, for that price, I'm going to go buy the vintage version of the bag or something.
- [10:17]
B
Or the counterfeit version of the bag.
- [10:19]
C
Probably landing on the counterfeit version. But Jessica didn't say that.
- [10:22]
A
But yes, I think it really depends on the customer. I think there is absolutely a customer where have that allure of having like a real Gucci item that they bought in the store and they get to go have that fun experience and this is what they can afford. You know, it's the same thing that draws people to buying like a card case or, you know, small leather goods that are a little bit more affordable than buying a full bag. So I definitely think that consumer exists. I also think, yeah, there are plenty of consumers that would not buy that and they would rather put that money to. Yeah, buying something secondhand or buying something from a smaller brand that maybe feels a little bit more special. Yeah, I think that consumer exists, but it's by no means every consumer do.
- [11:00]
B
We think this trend is offsetting some of the slowdown we've seen in luxury sales generally. I mean, is this. Is this a way that brands are actually managing to hold on to these aspirational customers?
- [11:11]
A
Yeah, I think to a degree, but I think that it really goes beyond the big luxury brands. I feel like a lot of the brands that are benefiting from this are small jewelry labels. I spoke to a brand, Adina Raitter, and they have these initial necklaces that are very popular, and they've seen a huge, I think it was 50% growth in the past year from, you know, people just being interested in buying their charms and that sort of thing. I spoke to a brand called Elyu, which makes a lot of really fun, like shell pendants and these gian giant gold ear cuffs and things like that. Real big statement pieces that run about $200. And they've seen a lot of growth. They're even expanding into apparel. So I think that it's really a mix. Yes, I think it probably is helping luxury brands, but I think even more than that, it's helping small brands that really can make these cute accessories that feel distinct and different from what everyone else has. Because I do think a huge part of this is that quest for personal style, wanting something unique, and people are really seeking out that uniqueness in these purchases.
- [12:12]
C
Does any of this also trickle down to, like, on the retail side, the cadence of what's selling out? Like, how. How merchandisers merchandise a store right now?
- [12:20]
A
You know, I think that we still have to wait and see in terms of, like, the cadence of what's selling out. I definitely think it's impacting the way buyers look at what they buy. You know, I spoke, like I said to the co owner of Space519, which is a boutique in Chicago, and he was saying, you know, we're buying more of these small leather goods because we see that's something that our shopper wants. So instead of just buying the bag, they'll buy, you know, the bag charm, the coin purse, the card case, and have that whole assortment for their consumers because they want to buy the whole suite rather than just one piece. So, yes, I think it is impacting the way that brands think about it. Even the styling and E Commerce shoots. You know, they'll put a bag charm on the product photo for the bag, or, you know, then they'll suggest they'll have a link to a bunch of bag charms in terms of, like, how to style it, you know, right below the product listings. So people are definitely finding ways to have these add on purchases. In terms of the cadence of sellouts, I think that maybe it's. There's always going to be those viral products that are hot and that people are obsessed with and we're seeing that in the accessory space too. So I think time will tell if that, if it really impacts that.
- [13:28]
C
Something else I was thinking about is generationally like I, Brian and I like to poke fun of our at ourselves as like elder millennials. But have you seen any tre across the demographics? Like a lot of this sounds, even the Labu boo thing, I'm making fun of myself, but very Gen Z oriented kind of style. What trends do you see across generations here? Is it mostly Gen Z that's playing around or does it run the full gamut to bloomers?
- [13:50]
A
You know, I don't, I don't know if it's making its way to boomers. I'm thinking about my mom, like she's not wearing a toe ring or, you know, multiple necklaces or things like turn.
- [13:59]
C
My labu for my mom for Christmas. Darn it.
- [14:02]
A
Yeah. I wonder if my mom even knows what a little boo boo is. But I do think that this is something that I see millennials participate in. I see. I definitely Gen Z and I think Gen Z is really driving it. There is this huge, like I've said, this huge desire on Gen Z's part and it's a conversation that's bubbled up a lot on TikTok of wanting their own personal style. For so much of the past five years of their life, trends have been dictated by TikTok. They all like. It's a joke that if you go out in the West Village in New York City, you're just all going to see like light wash, wide leg jeans and a black or white crop top. And that's like what all the girls wear. And everybody, when everybody's consuming and getting their fashion inspiration from similar sources on social media, it contributes to this homogeneity and people want to do something that makes them feel a little more different. I think the tide is turning and people want, they want to show themselves. They want their, their style to reflect their personality. And there's just a little more freedom to do that with jewelry, with accessories, you know, whether it's a baseball cap that, you know, has an espresso martini on it or a necklace with your astrological sign. So there's just a lot of ways for it to really reflect your personality, who you are, your interests in a way that with clothing that's a Little bit more difficult.
- [15:15]
B
Yeah. I'm wondering how much that really reads, though. You see someone in, like, yeah, they're wearing the crop top and the jeans like everyone else, but, oh, they have, like, a toe ring and a tiny necklace. I mean, how. How original are they really? I don't know.
- [15:30]
C
Well, not. The necklace is not tiny. They like Diana saying, like, it's like, seven necklaces and, like, lots of rings and like.
- [15:36]
A
Or like, one big one.
- [15:38]
B
Yes. The thing is, though, if you're not really, to the untrained eye, it just kind of looks like, like, kind of an undistinguished mishmash of. Of gold, essentially. You know, I think it's hard to. For any one accessory to really make a statement. But I guess that's kind of the point, right. Is to say, I'm wearing a lot of accessories, not, look how interesting my curated assortment is on my body here.
- [16:00]
D
Yeah.
- [16:00]
A
And I think it's also like, crafting that overall look of accessories, you know, like, having a distinct, like, people know you as, like, oh, you've got those, like, Like, I can speak for me personally. Like, I wear five rings every day, and, like, that's my, like, ring look. And, you know, you have your, like, signature thing and, you know, your signature look, or people know, oh, she always wears a lot of, like, gold necklaces. And it's sort of just about crafting that. That more distinct, unique look that is just. It's hard to do with clothes. Like, you a. You don't wear something every day. Jewelry you wear every day. You can wear a baseball hat every day. You could wear, you know, have your signature bag charm or lububu that's always on your bag. You know, it really allows you to create more of that daily, like, signature look that you're kind of associated with.
- [16:44]
B
That's a really great point.
- [16:45]
C
Insert my favorite Matt Powell, the analyst quote, which is like, I want to be different just like my friends.
- [16:50]
A
Yeah, I love that.
- [16:53]
C
So I want to talk, maybe looking a little ahead, because I think we're all making a similar inference that, like, we're not sure this is, like, a fleeting trend or if this is going to stick. Like, if you look 6 12, 18 months from now, where do you see this going? Is there a limit on the novelty of this? Does it stick? Does it not stick?
- [17:12]
A
Where do we go from here with every trend? I don't think that we ever are, like, fully, like, trends go away, but they never, like, fully go away. Like, everything shapes how we dress. It shapes how we, you know, There are still plenty of millennials who are wearing skinny jeans and holding to that and, you know, have been like, oh, well, you know, that's the best pant to tuck into a boot. Like, I think every trend leaves leaves a lasting impact or impression on us. So, yes, like I said, I think maybe toe rings, bag charms won't be quite as popular, but maybe they'll evolve. And I think that this has unlocked something in people of like, oh, I can wear multiple necklaces at once and it looks good. It doesn't look messy, and it just looks, you know, it feels like my thing and it feels very reflective of me. Or, oh, I can put a charm on my bag or a charm on my hair scrunchie or, you know, on my shoelaces or my lip gloss or what have you. So I think that it will have lasting after effects of this trend, even if not everybody is wearing, you know, five necklaces at once in a year from now.
- [18:18]
B
I like that phrasing a lot, that it unlocked something. That's a smart thesis that even if what we're seeing now goes out of fashion, something else will replace it and accessories will continue to be a part of whatever trend comes next, whatever succeeds.
- [18:33]
A
Minimalism, yeah, definitely. And I think people just thinking about accessories and giving more care to them, you know, I think about maybe like 10 years ago, but, you know, people. A lot of people had, like, their one necklace that they wore every day. They never took it off. Maybe it was like a graduation gift and you have your, you know, one pair, like diamond stud earrings or, you know, little gold hoops. And now people, I think, are just being a little bit more excited by it or interested in it or. I also even think about, like, I was in college during the statement necklace era of the early 2010s, the J. Crew bubble necklace. The chokehold it had on me at.
- [19:07]
C
The time, it's so embarrassing. Those photos. Oh, my God.
- [19:10]
A
Obviously now, like, we don't wear the J. Crew bubble necklace, but people are wearing a different sort of statement necklace. You know, it's all just about an evolution of. Of the trends. And what's happening.
- [19:21]
C
Are we metabolized? I think. I think that's another way of thinking about we metabolize some of this and we carry it forward. We're not doing it in the exact way we did it 10 years ago, but there's something in us that remembers it or holds on to a piece of it. Should we play a lightning round to close it out of, like a lightning round or a Game of, like, if each of us could pick one of these trends that we will personally carry forward, I think everyone can guess my answers. I hope the Labubu stays around. I actually hated it in the beginning. I don't know if you remember this, but we had an edit meeting. We're discussing story ideas, and, you know, like, that was one of the trends, like, a few months ago. And I was like, I think it's so silly. Like, it's just a. It looks like a troll doll. And then I got one, and I found that it's a nice way to make my handbags, which are a little more plain, more interesting. And I've been dressing my labubu up. It's right now wearing a denim outfit.
- [20:10]
B
And.
- [20:10]
C
And it is. And its name is Chocolate Chip, per my son. So I'm sticking with the Labubu obsessed.
- [20:18]
B
I am gonna go with bag charms because they are fun, they're really versatile, and they are a way to express your personality. Like, every time I travel, I buy a bag charm from wherever I am for my daughter to put on her backpack. And I could see myself. I could see myself doing the same for my own bags. You know, it sort of transcends, like, you know, masculine, feminine. Like, it doesn't, like, fit in any of those categories, and anyone can really do it. The other one I was thinking of, I think as long as Crocs are around, those gibbets are going to be a thing, and they're kind of a. When I was talking about Patient zero before, it occurred to me, that's probably a big one. Like, those were huge, you know, a few years ago, before we suddenly started doing the same thing to everything else that we own.
- [21:02]
A
Mine is definitely the necklace stack. I feel like I always have at least three necklaces on. And my friends who have traveled with me always make fun of me because when I go to, like, this summer I went to France, I bought 10 necklaces on.
- [21:15]
B
My goodness.
- [21:15]
A
It's like a. I am a necklace aficionado. I love necklaces. The more the better. So I don't see that changing anytime soon for me.
- [21:23]
C
I think that's a nice point to end on. It seems like all of us are team accessories for the long haul in our own individual ways. Diana, this was so much fun. Thank you for joining us today.
- [21:33]
A
Yeah, thank. Thanks for having me. Always a pleasure.
- [21:36]
C
Please be sure to check out Diana's article. How far can Fashion's Accessory Obsession go? @businessoffashion.com this and other stories are available to BoF Professional subscribers only, and you can find the links in the episode notes. You've been listening to the debrief, produced and edited by Olivia Davies and Eric Brea. I'm Sheena Butler Young.
- [21:54]
B
And I'm Brian Baskin. We'll be back next week with a new episode. Thanks so much for joining us and be sure to follow us wherever you get your podcasts.
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