Mapping the Fashion Promotion Profession - Emerging Markets.

Emerging markets is one of the main reasons why fashion's sales have risen to stratospheric heights. Last year it was said that due to the fashion industry working on emerging markets and creating more 'affordable luxury' brands, their sales were expected to exceed by $318 billion.

International market research has been carried out by a company called Euromonitor. They released the 2014 edition of its annual Passport: Luxury Goods report, containing granular data from 32 countries on nine personal luxury categories last October. Although there is seen to be a continuation of uncertainty through MACRO trends, and low profits; reports show that major luxury brands, remain positive about the industry’s growth. Also it is said that 'spending is projected to increase by more than 35 percent over the next five years.'

Within emerging markets there is research being constantly carried out to predict how high it will be achieving in years to come. In current reports, research has been carried out and near enough confirms that by 2018 Asia will be the largest region in the world for distributing Luxury goods. It has been said that the main country for Asia's future success will be down to China. But countries like Malaysia, Indonesia and India will also be high contributors too.

Throughout this studies' research the amount that consumers spend in certain parts of the world is vital information to determine past, current and future leaders. Western Europe has always been the leader in Luxury purchasing and it is said to have 'accounted for more that 33 percent of all Luxury spending in the past year.' But it seems that the rolls are reversing as Asia is catching up with Western Europe. It is said that they will 'grow 170% over the next five years, the region is set to dethrone Western Europe as early as 2018.'

Many Luxury brands understand that they need to widen their target audience in order to generate more sales. Therefore, the only way that they can do this is to create Bridge brands. This is designers creating a cheaper version of their Luxury goods, to attract younger audiences and generally individuals of any age that do not have the disposable income to afford the high-end Luxury brand price tag! Two designers that have invested in this genius idea are Marc Jacobs and Michael Kors. By these brands creating accessible and affordable designer wear, it has allowed consumers that have always wanted designer goods to be able to afford them without breaking the bank. 

Other Luxury brands are beginning to cotton on to investing into the Bridge brand market. They now understand that consumers are willing to pay good money for these designer goods, but they will now splurge on a materialistic item if it is going to affect their life in a negative way. They are targeting young shoppers as I mentioned earlier. I feel that this is down to the fact that the younger generation are always looking to be on trend, and will spend whatever they can afford to do that. They do not have any big responsibilities to think about, such as mortgages. Therefore, they can afford to buy Bridge brand designer goods and feel as though they are spending on the high-end Luxury goods. Luxury brands are also focussing on e-commerce as this generation is all about the internet world. This is a great way to target near enough everyone, as most ages and generations are trained to use the World Wide Web!

Another way that emerging markets are coming into their own is by Luxury designers teaming up with High-street brands. This allows consumers that usually shop in these High-street stores to get a taster of what it is like to wear Luxury clothing. When these collaborations happen, they often get sold out as quick as exclusive, one-off pieces in the Luxury designer world would, which is exactly what the two parties involved are trying to achieve.

"EVER since H&M announced that New York wonderboy Alexander Wang was its latest designer collaborator - following in the footsteps of Marni, Isabel Marant, Versace, Stella McCartney and Karl Lagerfeld - the fashion world has waited patiently for a glimpse of the full collection. And here it is: American sportwear, reimagined as only Wang can, with his signature modern twist - at pricepoints that we can afford. The collection launches on November 6." - Vogue News. 

H&M have been constantly talking about this collaboration for a year prior to the launch, that is now nearly here. This has in tern helped in it being one of the most exciting Luxury and High-street team-ups we have ever seen. By brands constantly talking about a new line at least a year before it is released, created brand awareness and consumers prepare and get ready. This is cleverly thought out, as if brands just released new collections without any warning there would often to no buzz. It is all about creating excitement and in some way making the new line a seemingly famous feel.

The different ways this up-coming collection has been promoted is through social media, the press and celebrity endorsements. Rihanna wore the Alexander Wang x H&M collection in New York and the press went crazy. She is one of the most famous style icons in the world along side being a musician. She has been able to create a brand for herself, in not only people being interested in her music. But they are clearly just as interested in what she wears! Therefore, this was all strategically planned so that the hype for the collection would be vamped up just that little bit more, ever so close to the release date.