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The Who What Wear Podcast
The 2024 Luxury Report: Little Luxuries, Endless Elegance, and the Fashion Sports Love Affair
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- [00:02]
A
Thank you to ebay for sponsoring this episode. This is what you do. When you have high standards and fancy all the fancy things like an iconic Dior saddle bag or that diamond tennis bracelet, you go to ebay. There you'll find new loves that will never disappoint. Expertly authenticated and everything. Whether it's that vintage pearl necklace or brand new ruby earrings, a Prada crossbody bag to be besties with your other handb. Even an eternally classic watch like that Rolex oyster or that Cartier tank. You know the one. And when you find it, ebay has their expert's eyes to make sure you're getting the real deal. That way you can be confident that the designer finds you came for the luxury wardrobe that you've always wanted. It's all real. In fact, it's verified authentic. So bring your high standards and never limit what you can find. Yeah, ebay the place for new, pre loved vintage and rare fashion. Ebay Things people love.
- [01:24]
B
Welcome to the who what Wear? Podcast, your direct line to the designers, stylists, beauty experts, editors and tastemakers who are shaping the ever evolving world of fashion. I'm who It Wears shopping director Bobby Schussler. And today I'm so excited to talk about everything luxury with Kristen Nichols, our associate director of special projects. Every year Kristin writes such an introspective, informative report about the state of the luxury market and today I have insisted she come on the pod to give us the full rundown. We're talking about the rise of the modern heritage piece, the gravitation toward what we're calling little luxuries, and the growing crossover of fashion and sports. Plus, we discuss how the musical chairs of creative directors at the top of the major fashion houses is setting the tone of where luxury fashion is headed. It's all coming up on who what where. Hi Kristen, thank you so much for joining me again. I can't wait to talk all things luxury with you. I know you are the certified expert.
- [02:34]
C
Yes. Hi Bobbi, so nice to be back with you.
- [02:38]
B
To start, since the Luxury Report is a piece you write annually, can you give us a very high level overview of what the luxury market looked like in 20 last year and kind of the biggest shifts as we look currently in 2024?
- [02:53]
C
Yeah, you know, I write the Luxury Report each year and it's always one of my favorite stories of the year because it's really an excuse to dive in even deeper to see what was happening in fashion as a whole, but specifically in the designer space and luxury space And I think one of the interesting things that really changed luxury, fashion, and fashion overall this year is a lot of what's happening at the top for fashion houses. So we're seeing a lot of creative director shifts that are really making a big impact. I think one of the most notable, which we chatted about in our Paris Fashion Week recap, was Alessandra Michele taking the helm at Valentino, which was his first actual Runway show, and then Shamina Kamali taking over at Chloe. And I think those have already set a new tone for where fashion is headed. Just like designers with really strong points of view. But then I think this will continue into 2025. There are a lot of designers that have yet to step into new roles, others that have yet to be announced. Chanel is the big question mark. Oh.
- [03:59]
B
Oh, my gosh. Like, I just want to know.
- [04:02]
C
I want to know, when's the announcement happening? So I think that's been a huge shift in fashion this year, and that will also be continuing into next year. And then I think another big shift we've seen is interest in pieces that go beyond trends in terms of what people buying. I don't know. I've seen this, what I'm calling modern heritage pieces on the rise. Something like the Rose Margot bag, which first dropped in 2018, but it was last year that it really resonated. And then this year, it's continued to resonate just as much, if not more. There's the clutch version. There's the east west version, and Thoreau seems to be really investing in this kind of, like, bagged family. And then I also think we're seeing this in terms of brands that are more classic and timeless. If you're familiar with the list index, they kind of rank different, like, brands and top items. And Ralph Lauren entered past quarter as the number 14 brand, and it hadn't been on the list before. So it's just, like, proof that we're seeing this kind of renewed interest in classic and timeless fashion across both brands and shopping. And then this is a trend I know you love.
- [05:16]
B
I already know what you're gonna say.
- [05:17]
C
Yes, you're the king of the bag charm, and I always love to see what's growing into your bag charm collection.
- [05:25]
B
Okay, we need to dive into bag charms for a second, because I know little luxuries like this are just picking up steam more and more, but my bags, they've become so chaotic. I'm so obsessed with this trend. I don't know what's gotten over me. You can barely see the bags at this point, I mean, they're just charms. I mean, it's like there's Disney. I have a Fendi martini bag charm that I got years ago that now it's finally trend forward to put on a bag. I mean, it's my favorite trend right now.
- [05:52]
C
I love it. I love to see what's on your bag next. We're just also seeing this rise in personal style, individuality. And I think that this is like a fun way that people, maybe they have the same bag, or maybe it's a bag that's older and you're kind of making it your own.
- [06:10]
B
And so a great gift idea too.
- [06:11]
C
Great gift idea.
- [06:12]
B
Yeah. Love it.
- [06:13]
C
One other thing that I think's been really exciting this year is seeing how fashion has entered into the sports world in a new way. I think this was obviously very clear at the Olympics when LVMH was a sponsor. But more and more, we're starting to see the fashion and the sports world converge. And in terms of trends, I think one of the trends that we probably reported on most this year at who it wear is the rise of elegant style. And I think that that permeated fashion overall, but especially in the luxury space, I think that that was really a through line.
- [06:48]
B
Absolutely. I love the elegant trend and the swans and the coats and the gloves and the pillbox hats. I just love it.
- [06:55]
C
Yeah. Feels very fresh.
- [06:57]
B
Amazing. Okay, so celebrities obviously have a big impact on luxury trends every year. So which celebrity style moments stick out to you as being the most influential in regard to the luxury fashion shifts in 2024 and some of the shifts you just mentioned?
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C
So I think one really interesting moment happened at Paris Fashion Week. I walked into the Miu Miu show, which is always a favorite collection, and they're also a brand that's just kind of ahead of the curve when it comes to both casting on the Runway as well as who they're dressing. And the front row was really interesting because there's a lot of talent from the Gen Z set. So Nara Smith and Addison Rae and I think were really starting to see the impact of Gen Z on luxury fashion. That was just one moment when it became very clear. And then going back to what I was saying about sports, Zendaya and her challengers movie was obviously based around tennis. J.W. anderson was the costume designer for that, so he brought his fashion lens to the film. But then that continued on the press tour when Zendaya was dressed in custom looks by Thom Browne with tiny tennis racket embroidery and Brunello, Cuccinelli, and all of these tennis inspired looks. It really crystallized that connection between fashion and sports. And I think that was really interesting.
- [08:21]
B
Made me interested in sports, which is a stretch, so it's great.
- [08:26]
C
And then I know we talked about elegance, and there were a number of moments when this entered the wardrobes of celebrities, but one of my favorites was Kendall Jenner at Paris Fashion Week. And she was dressed in the row. Her stylist Danny Michelle dressed short and this black shift dress that was a little bit frayed at the edges, but still looked extremely polished and elegant. It was paired with these black pointed toe flats, really simple jewelry. And then even her hair tapped into this elegant trend when she went blonde and had a bob and curls. And it really felt a little bit nostalgic in a way, but still modern. That was a really fun look that kind of encapsulates 2024 fashion.
- [09:11]
B
Love it. Okay, so outside of creating buzz, why do you think each of the top brands and many that you've already mentioned have been just so successful this year? What are they doing right?
- [09:24]
C
Writing the luxury report, I chatted with a number of experts. A few of them, Gab Waller, who's a luxury product sourcer, Erica Wright, who's also a product sourcer, April Hennig from Moda Operandi. A number of other people were all coming back to a few main points. One of them was brands that really set the trends. Think of like the Pradas and the Miu Mius. If you look at their runways, the styling is always perhaps a season ahead and really showcase what will be big next season. So I think just having that foresight really makes those brands especially relevant. Another key pillar was brands that champion craftsmanship and quality. Perhaps no brand exemplifies this more than Hermes, who It's a brand that no matter how many years have passed, every piece is just the height of craftsmanship, quality. And brands like the Row as well, even down to, like, their T shirts and of course, their bags and other pieces as well. One interesting thing that I thought was especially insightful and April Henning brought this up. She said that at Moda Operandi, shoppers really want brands with a strong point of view and specifically mentioned how their shoppers are really tuned into all of the creative director shifts at the top and don't want just any piece with the logo. But really designers who are creating something with a kind of world building that they can tap into themselves. I think of brands like Chloe Bottega, Veneta, Saint Laurent, Alaia who are really just doing this so well.
- [11:05]
B
Amazing. I want to circle back to what you said earlier about the shift in specific pieces and some of the key 2024 pieces that dominated the luxury market. I know we already spoke about the Row Margot bag. I mean, you said that they're creating this almost like a little Margot family. I would love to be part of that family. Just as an FYI, what other bags specifically have gained kind of the most traction this year in 2024?
- [11:34]
C
Yeah. You know, as I mentioned, I think shoppers are really looking for more heritage pieces, timeless pieces that they can add to their collections. Don't necessarily feel like they're from one moment in fashion, but they can be carried through from season to season and year to year. Obviously, the Row fits into that. And one of the bags that resonated most this year is a bag from Alaia called the Le Tecla bag, which actually means dachshund in French. And it's named that because it's kind of this long shape. It falls into the east west bag family. And it's just this really beautiful top handle bag that's very classic, very timeless. It's obviously a very beautiful bag and has continued to sell out in every color that it is released in. But I think what's interesting is that it's priced at a relatively low price, at least in the designer space. It falls somewhere in between where a contemporary bag and a more expensive designer bag would be priced. So it's, I think, a really smart move for Alaia to have a bag at that price because it allows shoppers to really have and wear pieces in their closet. Another bag that is on the top of my shopping list is the Bottega Veneta Andiamo bag. This is a bag that launched in 2023, but has continued to be just as popular in 2024. I feel like every time I go to shop, it's sold out in at least a few colors. Jacob Elordi has worn it, a number of celebs have worn it, and it's kind of this top handle shape as well, similar to the Margot from the Row and the Alaia Le Tekel. So I think we're seeing that silhouette really take off. And again, I think this is similar to what we're seeing with the Margot bag from the Row, where brands are really heavily investing in certain bag families. Even though it was released last year in the woven leather version, we saw it released this year in a smooth leather version and then on the runways for spring 2025. There was also this, like, really beautiful embossed crocodile version. So I think we'll continue to see its popularity rise. That's an interesting proposition for shoppers because there's a little bit of assurance that it's still going to be in style in the future if you invest in it now.
- [13:55]
B
I love that. And I feel like whenever you are investing in something, especially a bag, you want it to have longevity, and so that's super important. At least it is for me.
- [14:02]
C
Yes, definitely for me too. I still have bags that I bought 10 years ago, 15 years ago that I still wear now, and of course, others that didn't last that long. But it makes me really happy that I invested in those pieces that are still in my closet.
- [14:17]
B
Okay, beyond handbags, which items had the biggest moments this year, in your opinion and all of your research?
- [14:23]
C
In terms of shoes, I think last year was the year of the ballet flat. And of course, the Alaia mesh version was huge. And interestingly, is still really big this year. But I think other new shoes that paved their way were the Prada satin mules that were an editor favorite. They were really popular at Fashion Week. Our editor, Anna Laplaca, wore the beautiful Brat green version at New York Fashion Week. They're very elegant, very timeless, but also a signature shoe that is very recognizable. Similarly, Loro Piana has their Rebecca flats that are a pointed almond toe shape and are just gorgeous. They're very nostalgic. Feel like something you would have seen in the 60s, perhaps.
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B
You love those. Those are my mom's, like, dream shoes. That specific style?
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C
No, they're so beautiful, and I think they work for every age, and they're very elegant. And that's another shoe. I was at the Loro Piana preview in New York, and they had yet another version coming out for spring. So again, I think it ties back to that sense of longevity and seeing it in future collections and brands investing in styles that you can continue to perhaps buy new versions of year after year.
- [15:41]
B
I love it. Okay, aside from shoes, what else had the biggest moment this year, year after year?
- [15:47]
C
Every time I write this report, we always see accessories take the top spot for it items, whether it be shoes or bags or jewelry. But outerwear has been huge this fall. I think at New York Fashion Week, we saw, like, suddenly the suede jacket everywhere, and it was the editor favorite. And then moving further into fall, we saw the barn jacket take off. And I feel like there are designer versions from Totem. There are also more heritage pieces from brands like Barbour and it's just like a really wearable piece, something you want to invest in and wear all season long. I actually got a version from ebay that I found that was vintage. So I think there are really great designer pieces, but it's also one of those accessible items that you can find, like a beautiful vintage version. This one is from the 90s, one of my favorite decades in style. So that's really fun. And even like incorporating other pieces like this silk scarf to add in that little luxuries trend we were chatting about earlier as well. I think it's just such a fun piece.
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B
I love it. Okay, let's talk about trends. So you mentioned earlier that there was a specific aesthetic that defined 2024 elegance. Which brands are leading the way?
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C
Yeah, you know, I think it's interesting because last year was really the year of quiet luxury.
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B
Yes. Couldn't get away from it.
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C
Couldn't get away from it. But I think that kind of evolved into this elegant trend that we're seeing now, which has truly been one of the biggest buzzwords of the year. One of the most reported topics at Whoot where for sure, in terms of brands, I think we're seeing brands like Carvan do this in a really interesting way. Louise Trotter took over at the brand and has introduced this kind of modern take on elegance. And then speaking to the modern version of it, I think Bottega Veneta is another brand that has brought these silhouettes from the past into modern day fashion and put contemporary spins on them. So whether that be an a line skirt or even a pillbox hat like we saw at Alaia, also like elbow length leather gloves. We saw this at the Row. And I think what's interesting is a lot of times I'll see pieces like this on the Runway, like a picture pillbox hat. And I'm like, oh, wow, that's so interesting. And I can't wait to see that in an editorial. But I think it's connected with the fashion set in a way where you're really seeing it in real life and styled in such cool ways. There really is this looking back to the way that people dressed of a bicon time that's sticking on and off the runways. And I think it's really fresh. I think for so long we saw this kind of stark minimalism and 90s fashion, which of course I love and I incorporate heavily into my personal wardrobe. But I do like this attitude about getting dressed and wearing more tailored pieces that has really entered fashion in a new way.
- [18:56]
B
Absolutely. Okay. So we spoke, of course, about my favorite trend, bag charms. I want to dive a little deeper into the smaller designer purchases. Aside from bag charms, what other items are especially popular right now that are maybe not as huge as a bag, but still have a lot of meaning in the luxury and designer space?
- [19:18]
C
I love this idea of these little luxuries, and I think it's a way that people are still involved in shopping luxury at a time when luxury products have become much more expensive, much more quickly. There's something called the lipstick effect, where shoppers are willing to spend more on small luxury items during an economic turndown. And I think we're seeing that play out right now. But I think it's also led to these really fun pieces that people are styling in new ways. The bag charms, as you mentioned, are so fun, and so many brands have them in their collections. And of course, you can find them at much lower price points as well. So I think that's part of the fun of it. But in addition to bag charms, we're seeing items like scarves. I saw this a lot at Paris Fashion Week, where people were tying scarves around the handles of their bags to add a print and a punch of color. The pillbox hat has really taken off in a way that I really didn't expect. Editors on our team have really embraced it, and it was fun to see how they styled it during New York Fashion Week in September. And then it really has just taken off from there. And I continue to see it more and more, especially now that we're at the holidays. And I think, as I mentioned in the beginning of our conversation, it's kind of a way that people are bringing their personality into fashion, which is something we've also seen a lot of on the spring 2025 runways. So I think this is our initial look at how that will play out in the fashion space. But we will see this take off even more. I think the Prada Spring 2025 Runway in the show notes really hammered home how the show was really centered on this idea of anti algorithm style that centered personal style. So, yeah, I think it is about how you wear pieces, how you style them, and these smaller accessories are, I think, a really fun way to achieve that.
- [21:22]
B
Absolutely. We spoke about the intersection between luxury, fashion and sports. You brought up the challengers film and Zendaya and J.W. anderson's work with the film. I know the Olympics were sponsored by lvmh, which made this crossover especially apparent. Where do you think this push to kind of bridge the gap between fashion and sports came from.
- [21:45]
C
You know, I've been thinking about this a bit and wrote a story on this earlier this year because I was really noticing the convergence of sports and fashion and how more brands are getting involved in whether it's a specific sport or working with athletes. But I think it's really a way that fashion brands can tap into an entirely new non fashion audience. And specific ways I've seen that play out are Carlos Alcaraz, for example, when he won Wimbledon, he was wearing a Rolex. And all of the photos of him holding his trophy are him wearing a Rolex. And I think that that's just exposing his audience to Rolex and aligning that brand with his victory. And I just think that's such a smart play. Also, Gucci has a partnership with Jannik Sinner and he was recently named the number one tennis player in the world. And right around that time was spotted walking onto the tennis courts wearing Gucci. And just that brand alignment is really interesting. Tennis is something where we've seen that in the past. Something perhaps a little newer is when we saw WNBA player Caitlin Clark. She had such a moment at her draft signing and there was a lot of excitement around that. And Prada dressed her for that. So we've been seeing more and more instances of that, which I think is interesting.
- [23:09]
B
It's so interesting. I certainly don't follow any sports and I remember that look. Yeah, I love it. Okay, so with all of these things in mind, 2025 is right around the corner, which I cannot believe. Where do you think luxury fashion is heading in the new year, before the.
- [23:26]
C
New year is even starting? I feel like we know a lot of the changes that are to come. There are so many designers heading into new houses, whether it is Sarah Burton at Givenchy, Peter Copping at Lanvin, or Michael Ryder at Celine. We don't know how they will approach designs for those houses. But we do know change is coming. And I think that there's a lot of interest and excitement around that in that vein as well. Alessandra Michele at Valentino and Shimina Kamali at Chloe have already showed us a few of their collections, but we'll be continuing to watch them very closely to see how their aesthetics shape 2025. And then there are other designers that aren't at houses now, big designers that we're waiting to see where they go, Whether that's Eddie Sliman or John Galliano, Pier Palo Kim Jones, and yeah, there's a lot of anticipation about who will land where. Chanel of course, as we talked about, is the news everyone is waiting for. And I'm interested to see how designers really interpret the house codes at a lot of these strong houses. And then in terms of trends on the spring 2025 runways, we're seeing the pendulum swing very far in the other direction. I think for the past several years, it's really been about minimalism and really clean fashion, clean makeup, nondescript looks, and there was really a lot of maximalism and opulence on the runways. Whether it was at St. Laurent, there were brocade jackets and ruffled satin slip skirts and bejeweled pumps. And then at Valentino, just heavily layered looks. So I think that there'll be a lot of fun editorial moments that I'm getting really excited about. And then again, this idea of personal style and individuality, you know, I think we've been in this kind of Internet algorithm vacuum in a sense of trends that everyone ends up perhaps, like, trying themselves. And there's been a sameness to dressing. Not everyone, but I think there's been a little bit lost in terms of personal style. And I loved to see brands like Prada champion personal style and have kind of a call to action to bring that back. So I'm excited to see how that takes shape in 2025.
- [25:56]
B
There's so much to look forward to in the luxury fashion space in 2025. I cannot wait. And on that note, thank you so much for joining me today. It was an absolute pleasure, as always, and I learned so much, and it was just fantastic.
- [26:11]
C
Thank you, Bobbi. So fun to be back with you.
- [26:20]
B
A huge thank you to Associate Director of Special Projects, Kristen Nichols. Make sure to subscribe to our show wherever you listen. Listen to podcasts so you don't miss an episode. And while you're there, I'd be so grateful if you'd rate and review us. If you have any guest suggestions or any other feedback, drop us a line@podcastooatwear.com or you can find us on social @whotware. See you next Wednesday on the who It Where Podcast. This episode was produced by Hilary Kerr, Summer Hammeris, and Natalie Thurman. Our editor is Ko Takasugi Chernovin. Our audio engineers are at Glenn Canyon Audio, and our music is by Jonathan Leahy.
- [27:25]
A
Thank you again to ebay for sponsoring this episode. This is what you do when you have high standards and fancy. All the fancy things like a Dior saddlebag or that diamond tennis bracelet, you go to ebay. There you'll find new loves that will never disappoint. Expertly authenticated. Whether it's that vintage pearl necklace or brand new ruby earrings, a Prada crossbody bag, or classic watches like that Rolex Oyster or that Cartier tank on ebay, there are no limits to your high standards. Yeah, ebay, the place for new pre loved, vintage and rare fashion. Ebay. Things people love.