Fashion is constantly changing, from season to season and decade to decade. Trends come and go faster than we can track, and new designers, and brands are popping out of the woodwork at a faster rate than ever before.
With "fast fashion" powerhouses like H&M, Forever 21, and Zara on the rise, the luxury industry is being challenged by a much more affordable, yet trendy, fashion phenomenon. Celebrities are being spotted wearing clothing with lower price points, which only adds to the appeal of these brands. Whereas brands like Calvin Klein, Versace, and Gucci have a timeless and classic element, other brands rose up quickly, and fizzled out just as fast. With new brands emerging on a seemingly daily basis, there is no shortage of selection, and cuts have to be made somewhere! For many, investing in luxury items is a commitment to the brands longevity; the idea is that if we spend more on an item, we will treasure it and wear it for a much longer period.
Before splurging on that luxury watch, purse or pair of shoes, take a look at this list to see if you are making the right fashion choice. Here are 10 Fashion Luxury Brands We Don't Care For Anymore, And 10 That Are Rising
THERICHEST VIDEO OF THE DAY
20 Michael Kors: Oversaturated And Unoriginal
For close to a decade, Michael Kors was the "it" fashion brand, with millions of consumers purchasing their mid-range purses, shoes, and accessories. Due to over-saturation on the market and a vanilla approach to fashion (Kors rarely makes bold moves and sticks to classic pieces) the brand has lost a ton of clients in recent years. In 2017, Business Insider UK reported that Michael Kors was set to close down at least 100 to 125 retail locations worldwide due to plummeting sales. Their first quarter in 2017 showed a steep 11.2% decline in sales; which equates to a cool $1.06 billion USD.
19 Coach: No Longer Dominant In Handbag Sales
There was a time in the not so far off past when luxury brand Coach was dominating handbag sales around the world. The company, founded in Manhattan in the 1960s, had a slow but steady start. By the 1980's, the company was selling close to $20 million dollars worth of iconic handbags. Fast forward to 2012, and the net sales peaked at over $4 billion USD. Despite being regarded as a classic American brand with a reputation that will guarantee longevity, sales have plummeted in recent years. Competitors with similarly priced handbags like Michael Kors and Tory Burch have made the industry more varied, and Coach has suffered. Coach has definitely lost its appeal to the masses.
18 Ralph Lauren: Done with The Polo
Ralph Lauren is yet another American luxury brand that caused its own decline by providing its clients too many promotional prices, special deals and discounted lines. Although an initial increase in sales was reported, the long-term effect has proven to be disastrous. The brand reported dips of over 10% in their retail stores over the last quarter in 2017, according to Fortune magazine. Furthermore, their e-commerce sales are down a whopping 27%. The company's newest CEO, Patrice Louvet, is working double time to try and repair the company's tarnished reputation, but it might a little too late. Polos are out for good, this time.
17 Tommy Hilfiger: An American Dream We've Waken Up From
Tommy Hilfiger is one of the most recognized American brands. Founded in 1985, the preppy sportswear line offers lifestyle clothing for men, women and children, as well as accessories, fragrance, and footwear. Attaining a huge market base in the '90s, Tommy Hilfiger was the perfect blend of Americana culture and sportswear. Retail sales in 2017 brought in $7.4 billion USD, proving that the brand is still alive and well, if a bit outdated.
Although the line shows no signs of slowing down, the product offerings are far from original and are no longer considered high-fashion items.
Even Tommy himself told Huffington Post in 2013 that he was sick of fashion. We understand, Tommy!
16 Louis Vuitton: Highest Brand Value But Not Best Loved
Louis Vuitton is one of the world's most iconic luxury brands, with an estimated value of close to $30 billion USD. Founded in France in 1854, the brand is one of the oldest in fashion history. Louis Vuitton is world famous for their handbags, leather goods, watches, and sunglasses, and also offers a full line of ready to wear garments. Most of their products are emblazoned with their signature LV symbol, which has been both adored and despised by fashion lovers.
The line has historical relevance, but is guilty overexposure on the market.
Too much of a good thing is not always a good thing, and this brand is one that we are happy to do without!
15 Burberry: Overrated And Overpriced
Burberry is a British luxury fashion brand with a history that dates back to 1856. As one of the most classic brands in the luxury department, Burberry offers trench coats, handbags, and scarves in an iconic and unmistakable (although regularly copied) check pattern. The brand is valued at over £9 billion, and their pricey goods are responsible for much of that! With trenches going for anywhere between $2,000 and $6,000, Burberry remains one of the highest priced ready to wear lines. Despite offering classic items with long-lasting appeal, there are so many alternatives these days that won't break the bank. Not all traditions need to go on forever.
14 Tiffany: No Longer On Every Girl's Wish List
In the early 2000s, jewelry powerhouse Tiffany & Co. was a top contender for young women seeking bracelets, chains and rings. The brand, who was made famous for their key pendants and charm style bracelets, had a major dip in sales in recent years. Former Diesel frontman, CEO Alessandro Bogliolo, revamped the company and inched them towards to an impressive 17% rise in share value in 2018. According to Bloomberg.com, this was the biggest leap in value that the company has seen in over a decade. Although the new image is paying off handsomely for Tiffany, the line is tired, and luxury buyers are looking elsewhere for more unique pieces.
13 Louboutin: Fighting To Keep The Red Sole
Christian Louboutin is the famed French shoe designer known for his (very) pricey red-soled high heels. Louboutin has an estimated net worth of $85 million USD due to the success of his iconic shoes, categorizing him amongst the 50 richest designers of all time. Despite the success, the brand is starting to fizzle. There was a time when only celebrities and the ultra rich were able to afford a pair of these (probably very uncomfortable) shoes. With prices ranging from $600 to $6,000 USD, women around the world yearned to show off their exclusive red-soled pumps. Now, Mr. Louboutin is in the midst of a legal battle, fighting to retain his trademark on the signature red sole. The European Court Of Justice is reviewing the case, although it's unlikely that he can stop other brands from using the colour. The sole, as well as the brand, are losing their hold on us.
12 Montblanc: Pens Not Worth The Price
Montblanc is an accessories brand that was founded in Germany in 1906. With a long history of producing watches, leather goods, and high range writing instruments, Montblanc has amassed faithful clients who see their products as a symbol of high class and high society. With some items selling for upwards of $1 million, it's no wonder that Montblanc appeals to the super rich. Despite the history of the company, the products are way overpriced for their worth.
These luxury items have become nothing more than symbolic of wealth, and aren't worth the investment.
Think of how many pens you can buy over your lifetime with $1 million!
11 Juicy Couture: Tracksuits No Longer In
Remember when every girl wanted to own a pink, velour Juicy Couture luxury tracksuit? The obnoxious attire is the creation of two Los Angeles designers, Pamela Skaist-Levy and Gela Nash-Taylor. Founded in 1997, the brand also offers handbags, fragrances, and swimwear. The brand exploded when celebrities such as Britney Spears, J-Lo, and Paris Hilton were spotted in their iconic suits. In 2013, the brand was sold for $195 million USD, but shortly thereafter, an announcement was made that all of their American retail stores would be closing. The brand has since been on hiatus as they "restructure" their vision and offerings.
10 Balenciaga: Rising Up With A New Leisure Line
Balenciaga is a Spanish luxury fashion line that has a history dating back 100 years.
The reputation of founder Cristobal Balenciaga can be summed up with a quote by fellow design mogul, Christian Dior, who referred to him as "the master of us all."
Oscar de la Renta and Hubert de Givenchy got their start in the fashion industry thanks to Balenciaga. In 2017, the luxury brand released a politically influenced line, which included Bernie Sanders logos. In 2018, a new leisure line, called Athleisure 2.0 brought in a whole new slew of interested clients. A kids line is now also available, proving that Balenciaga is expanding into many different categories.
9 Gucci: A Powerhouse That Is Rising In Popularity
Gucci has long been a favorite in the luxury fashion industry, and for good reason. The century old Italian brand is the country's most famous and profitable company, with a net worth of roughly $15 billion USD. The company falls at #36 on the Forbes list of most valuable brands. Bold patterns, bright colours and edgy shapes have brought Gucci back into the spotlight in recent years. In April, 2017, it was reported that the company's sales had grown 50%, proving that they are still very relevant in the luxury fashion world. Partnerships with MR PORTER and Dapper Dan have also helped the brand remain current.
8 Vans: A Classic Shoe Gets A Comic Revamp
Vans Shoes rose to popularity with teens and young adults in the 1990s. Although the brand dates back to 1966, the grunge and punk scenes of the '90s made Vans shoes a staple item for rockers, skateboarders and disgruntled teens. Their classic checkered print slide-on shoes were one of the most iconic fashion items of the time. Now, Vans is making a comeback, with a new Marvel Comics line. The collection offers Marvel characters in various prints, available for men, women and children. As the 11th most popular fashion brand on Instagram, Vans has proven that they are still very relevant in the fashionable footwear division.
7 Fenty By R: Cosmetics And More By Rihanna
Rihanna has been a successful pop and R&B icon for the better part of the last decade. With a huge fan base, what better time to launch a line of cool cosmetics? Launched in late 2017, Fenty Beauty was named as one of Timemagazine's best inventions of 2017. With massive marketing exposure, Fenty Beauty earned a whopping $72 million in the first month, making it one of the most fast-growing cosmetics companies of all time. Offering diverse products that cover the full spectrum of skin tones, Rihanna has been praised for her creative fashion and beauty sense. Due to the popularity of her makeup line, she has now branched into women's garments, recently releasing her lingerie line, Savage X Fenty.
6 Off White:Dresses friends in high places
Off White Clothing is the up and coming streetwear luxury brand created by mastermind Virgil Abloh. Abloh, who is a designer, architect, DJ, and personal creative director to Kanye West has made quite the name for himself in the fashion world in the past few years. The athletic line offers some very interesting cuts and shapes, inspired by Abloh's love of architecture and symmetry. In 2017, according to Business Of Fashion's report, Off White Clothing was the #1 brand in the world during the third quarter. The designer's "friends in high places" have really helped him to establish a luxury brand that has major street cred.
5 Vetements: Knows what the people want
Vetements is one of the fastest growing luxury brands this decade, with a consistent position in the top 5 of most profitable fashion brands in 2017 and 2018. The brand is a favorite at high end fashion shows in Milan, Paris, and New York. Established by brothers Demna and Gurav Gvasalia, these Georgian born designers are a big deal. Demna led the design team at Louis Vuitton from 2013 to 2015, and is currently the head designer at Balenciaga, as well as creator and head director at Vetements. Luxury, classic pieces with relaxed and comfortable fits are the name of the game with Vetements. This brand is on its way to the top.
4 Valentino: Isall about luxury
Valentino, or formally named Valentino Clemente Ludovico Garavani, is one of the leading Italian fashion designers of all time. At 86 years old, he officially retired from his career in 2008, at the age of 76. He delivered his final haute couture runway show at Paris' famed Musee Rodin. Sadly, the death of Heath Ledger coincided with the show, and the mood was less celebratory, and more somber. Despite this somewhat tainted send-off, Valentino is likely very proud of the legendary line he created, which is going strong today. With a cool $1.5 billion USD net worth, he is definitely retiring in luxury and comfort.
3 Stone Island: Changed it up
Stone Island is a high-end Italian luxury brand, created by Massimo Osti in 1974, under the original name, C.P Company. Now run by Carlo Rivetti, the brand has had a resurgence in the modern fashion world, with their iconic logo going viral on the runways. The brand has been made culturally significant in the football world, with fans all over Europe adopting Stone Island gear like an unofficial uniform. Popular musicians, like Drake and Liam Gallagher, have not hidden their love of Stone Island. Classic trenches, coats and jackets are the most popular offering for this men's line.
2 Moncler: Time to diversify
Moncler is a 66 year- old Italian luxury brand that has had a recent revamp and boost in popularity. Started in 1952 by fashion designer Rene Ramillon, the popular men's, women's and children's wear line mixes classic French and Italian cuts, patterns and prints in iconic outerwear. The Moncler quilted jacket is one of the most sought after coats, and subsequently, many imitations and counterfeit items are flooding the market. With coats selling for up to $2,000 a pop, it's no wonder that Moncler has been able to amass a net worth of $1.5 billion USD. This line is definitely at the top of their game.
1 Raf Simons: Got celebs to back them up
Raf Simons has been rising to popularity since 1995, when he launched a self-named men's fashion line. The Belgian designer is the current chief creative officer at Calvin Klein, and has previously held high positions with Jill Sander and Christian Dior. Winning the CFDA awards for his women's and men's collections have brought him into the top 10 of most profitable fashion brands in 2018. His clothing is very popular amongst the rap and hip hop culture, with celebrity clients that include Rihanna, Frank Ocean, and Big Sean. With a net worth of $18 million, Raf Simons is only set to make a bigger fortune in the coming years!
- Luxury Lifestyle
Ariane Signer (80 Articles Published)
Ariane Signer has been writing her thoughts, fears and dreams in journals since the early 90's. A personal development and self-help junkie, she has been working as a creative freelance writer since 2016. A native Canadian, she has found her home in small town Switzerland, where she lives with her husband and two young sons. She is the author of 'Things That Shine: Poems', which was published in 2019. Her second book, 'Shadow Work: Poems', is releasing in April, 2021.
More From Ariane Signer