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• Key brands within the luxury fashion industry are prioritizing a selection of neutral, muted colors, as economic circumstances drive consumer behavior toward minimalism and timelessness. 
• Luxury’s heritage brands are taking advantage of their trendy “it-bags” to hike up prices by more than 30%, and re-release models in numerous colorways 
• Leading luxury brands are switching up pricing, for bags with and without the brand logo 

Use the Retviews platform to benchmark your offer against your competitors

As the world continues to navigate through uncertain times, consumers are gravitating towards a new concept of luxury. One that is less flashy and more understated - quiet luxury. With luxury digital retailers' significant growth in the market and an increasing number of consumers valuing casualization and sustainability, luxury brands are adapting to the mindset shift by creating products that focus on craftsmanship, and timeless design. In this article, we will explore the growing popularity of quiet luxury, its impact on the luxury leather goods market, and how your brand can consistently stay on top of trends with the most relevant collections, thanks to AI. 

Retviews’ data has shown that numerous luxury collections are placing a strong focus on wearable and practical pieces, mirroring the economic recession and in turn the rise of more minimalistic, long-lasting styles. Alongside the phenomenon of “quiet luxury”, there is also a larger propensity for neutrals, basics, and timeless pieces.

Looking at the color panels among leading luxury brands, Retviews data shows that across a large majority of today’s hottest brands, neutral shades such as black, grey, beige, and white, are closely associated with timelessness and universality. Jacquemus however, showcases the brand’s propensity to prioritize brighter shades. Pink and blue in particular, make up 12% and 17% of the overall assortment, respectively. The new trend of quiet luxury could be causing brands’ offerings to shift, now focusing on more refined simplicity-oriented pieces. mentions that one of the main reasons why the muted spectrum is back may be attributed to the economic anxiety aspirational shoppers are feeling, consequently starting to consume less. Brands are therefore responding to this shift in shopper sentiment.   

Diving into luxury brands’ assortment strategies, Retviews’ data show that both Bottega Veneta and Prada have a large selection of leather goods in their collections. ������è�� has also stuck to its tradition of artisans and know-how appreciation, as reflected in the brand’s product assortment, with more than half of their online offering consisting of accessories. The data also reflects the brand’s propensity to omit a large portion of its leather goods assortment from its e-commerce platform, namely their widely popular Kelly, Birkin, and Constance bags, amping up their exclusivity factor. Referring to Business of Fashion’s study, focusing on high-priced and high-margin bags in a product category mix can be advantageous, as bags are a key category that generates the majority of sales for many top designer brands. 

Retviews’ data show that high-end luxury players Hermes, Bottega Veneta and Prada’s leather goods are priced for the most part, in the > 1000€ price bracket, with a relatively low assortment share priced in the 500€ – 1000€ price range, reinforcing the brands’ focus on exclusivity and prestige. Prada has the largest share of items priced in the 1000€ – 1500€ bracket, of which its highly trendy Re-Edition 2005 Re-Nylon bag, which made headlines last year. The more accessible nature of the bag further allowed it to become a coveted trend piece among consumers. Business of Fashion previously stated that heritage brands hold a much wider price spread than purely trend-oriented brands, could this presence in lower price ranges be the way for classic brands to appeal to a larger audience?  

As previously mentioned, Prada’s Re-Edition 2005 Re-Nylon bag recently became a highly coveted piece among fashion lovers. Did the brand’s strategy, with regards to the trendy bag shift amid its popularity? Retviews’ data on the bag’s product details indicate that the bag’s price increased from 1100€ to 1450€ between 2021 and 2023, a significant 32% price increase within two years. Prada is also able to appeal to a larger consumer base with a wide array of color availabilities for its it-bag. 

Similarly, to Prada’s Re-Edition 2005 Re-Nylon, Bottega Veneta’s Teen Jodie is the trend piece that made headlines in the past few years. The classic brand, known for its Intrecciato leather exhibited a nearly 32% price increase for the iconic bag, between December 2021 and today. Once again available in a wide array of colors, the bag’s it-status has pushed its availability   

When taking a closer look at leading brands’ prices in shoulder bags, Retviews’ data show that Bottega Veneta’s classic selection of shoulder bags stands on the higher end of the market, with an average price over 800€ higher than that of GUCCI. Loewe, who has a wide selection of both classic pieces and fun, trendy pieces, holds a lower price positioning than its counterparts, with an average price under 1800€. A clear differentiator between each classic brand’s assortment is the brand logo. Bottega Veneta has omitted it in its pieces, whereas both Prada and GUCCI’s collections have a distinct logo or anagram, often present on their bags and Loewe holds a mix of both styles. Could the presence of the logo drive strong differences in pricing? 

Taking a look at a concrete example from Spanish luxury giant Loewe, Retviews’ data show that its’ selection of leather goods that show the brand’s logo or anagram are cheaper than those that do not have a logo. As the “quiet luxury” trend takes a hold of the industry, the inconspicuous, logo-less bag could be the style to focus on for high-end luxury brands when targeting the higher-income consumer. Retviews gives your brand a real-time look at your competitors’ assortment and pricing strategies, allowing you to get ahead of the curve and adjust your own positioning accordingly.  

The era of logomania and loud luxury has quickly come to a halt, and we’re looking at a side of luxury that prioritizes the “if you know, you know” mindset, where only fashion connoisseurs would recognize a brand. Is this a push towards further exclusivity in an already limited sector? How has your brand adapted to the push towards minimalism and quiet luxury, have you been able to successfully hop on the trend? Retviews has the data you need, on the categories to put forward in your collections, allowing you to stay ahead of the pack with real-time data available anytime, anywhere. Stay tuned into our upcoming article exploring quiet luxury in the apparel segment, how are key brands standing out?