SMH: Chanel, Armani, Tiffany’s - What’s killing ‘big logo’ luxury brands?
Image Credit: Miu Miu
Once symbols of status and aspiration, luxury giants like Chanel, Tiffany & Co., and Giorgio Armani are losing their shine as “quiet luxury” reshapes the market. The Sydney Morning Herald spoke with RetailOasis Director Trent Rigby, who explained that while the ultrarich remain largely unaffected, aspirational shoppers are pulling back and “mainstream luxury heritage brands are suffering from creative stagnation.”
Brands like Hermès and Prada are outperforming peers through exclusivity and innovation - Hermès by amplifying scarcity and status, and Prada through Miu Miu’s bold appeal to Gen Z. Rigby adds that younger consumers increasingly favour second-hand, sustainable, and experience-driven luxury over big logos, reflecting a broader evolution in what “luxury” means today.