Headlines

Casual Luxury Boosts the Category

Designer T-shirts, sneakers, accessories are appealing to younger shoppers

Published

7 years ago

June 11, 2018

kmpeyton

Millennials are driving gains in the luxury retail sector, apparently due to the popularity of casualwear. International growth is predicted among casual big-ticket items like T-shirts, sneakers and slide sandals, according to consultancy Bain & Co. (Boston), which lead a study on the sector.

A rise in casual apparel and accessories has helped bolster luxury sales to roughly $329 billion, up 8 percent from last year, according to the Associated Press. China is forecast to exceed that, expected to post 20 to 22 percent growth this year.

Social media is being credited for the gains, with brands being able to reach a younger audience with more accessible goods that they can purchase one at a time, rather than whole collections.

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