StockX Week is in full swing. And while the giveaways and panels have been an added bonus, we can’t forget the main message of this week. That we are celebrating YOU, the StockX community. Our marketplace is driven by how you shape current culture as we know it. And we want to celebrate your impact, say thank you, and look forward to the future.
And the future is looking luxurious. While sneakers ignited the StockX marketplace and still continue to be our centerpiece, luxury fashion has taken off over the last couple of years. We have seen a spike in new and recurring customers looking to buy and sell investment pieces from top fashion houses, including Gucci, Saint Laurent, and Chanel. And it’s not just at StockX. Despite the current economic climate, luxury sales increased by 22% last year with 95% of high-end brands seeing a positive compound annual growth rate in 2022. Thanks to the wave of streetwear collaborations and nostalgia-infused collections, recent studies have shown that Millennials and Gen Z actually accounted for the entire growth of the global luxury market last year, proving that the younger fashion consumer will continue to be a major influence on the luxury space in 2023.
It’s cool to see how the current culture of luxury fashion has influenced StockX’s marketplace, bringing in more than just sneakerheads but also a newfound high fashion crowd– from luxury buyers and sellers to style tastemakers and collectors. As the luxury fashion space continues to grow on our site, what better time than StockX Week to really dive into this new sector of our marketplace and learn all about luxury. So I hit up Cynthia Lee, Candace Currin, and Rachel Makar– our incredible (and obviously fabulous) StockX Merchandising team– to ask for their expertise on what we can expect from the luxury fashion space for the rest of 2023. What brands should we put on our radar? What trends are really worth trying? What are the right products to invest in that will go the distance?
Brands to Watch
The luxury fashion industry started off 2023 with a bit of a breakup season. From Rhuigi Villaseñor leaving Bally and Jeremy Scott stepping away from Moschino to Alessandro Michele shockingly parting ways with Gucci. But these hard goodbyes only bring exciting new beginnings, as luxury fashion houses are ready to start fresh creative chapters for the coming year. “Personally, I am most excited to see what Pharrell will do with Louis Vuitton post Virgil,” admits Cynthia Lee, our VP of Merchandising. “But I’m also closely watching Peter Do as the new Creative Director for Helmut Lang. I used to love the brand so much and I hope he can bring some vibrancy back to it.”
While there’s a lot to look forward to with these brand revivals, there are luxury labels who are already having big moments this year. The buzziest brand of 2023? LOEWE. There’s no doubt RiRi’s iconic all red look during her Super Bowl Halftime Show surely put the brand in front of millions. But LOEWE’s virality can really be traced back to the fearless, artistic approach of Creative Director Jonathan Anderson. Anderson approaches LOEWE’s designs like a painter and a canvas. His latest collections have showcased a conceptual direction, from pixelated cardigans to enlarged anthurium flowers adorning accessories and apparel in the SS23 collection. With the rising homogenization in luxury brands, it’s this heightened sense of art and innovation in Anderson’s direction that have made LOEWE the stand-out brand this year.
“LOEWE is a brand I’ve loved long before the moment it’s been having this year. They are classic with a fun twist and great color palettes. It feels like a brand anyone can indulge in, all while having such a distinct, recognizable style. You know it’s LOEWE just by the design and not by a flashy label” says Cynthia.
Other brands Cynthia included on her “brands to watch” list this year include The Attico for their elevated take on cargo pants, GANNI for their solid leopard print, and ANINE BING for timeless tweed styles.
Luxury collaborations for the future are about melding together the unique elements of each brand while including design touches that are just as unique and surprising as they are meaningful.
While taking on a high art approach to design has been successful (and definitely eye-catching), Cynthia notes that smart collaborations can still be just as effective for high fashion brands to capture the attention of current culture. Emphasis on smart. We can all admit hype-induced collaborations have felt oversaturated and a bit passionless lately. But it’s all about doing the right type of mashup so the collaboration doesn’t feel forced. If there’s one thing we know, it’s that Gen Z can see through ingenuity (hence the popularity of the unfiltered vibe of TikTok).
What’s the key to a successful collaboration in 2023? “Brands that focus on a savvy mix of sneaker culture and high fashion, all while staying genuine to their own brand identity and providing an element of surprise,” explains Cynthia. “I love the women-centric releases like Jacquemus x Nike and Sandy Liang x Salomon.”
If you take one look at the new Jacquemus x Nike JF1 collab, you’ll see exactly what Cynthia means by smart, savvy, and unexpected. The silhouette is distinctly different from a typical Air Force 1, stealing elements from the Nike ACG Terra, which Jacquemus founder Simon describes as his “fav shoes ever”. This coveted collaboration proves it’s not about slapping on two logos to any popular product. That’s so last year. Luxury collaborations for the future are about melding together the unique elements of each brand while including design touches that are just as unique and surprising as they are meaningful (like Simon’s affinity for ACG Terras). That way, customers feel part of a compelling story, all while still getting excited to own a one-of-a-kind design. Fewer releases plus more meaningful designs equals increased hype. The ultimate brand equation for 2023.
Trends To Try
You may think high-end brands try to stay far away from the light-speed trend cycle, especially the viral TikTok cores (#MermaidCore, #Barbiecore, etc). But the truth is, trends actually start here. “Trends are most commonly sparked by fashion runways. More and more designers and brands then interpret the trends they see at fashion weeks and we start seeing it on celebrities, in street style, and on social media,” explains Candace Currin, our Director of Apparel. “The cycle continues until a new one emerges.”
And when it comes to StockX’s luxury selection, Candace admits that trends also influence every part of the merchandising strategy– from the brand and product assortment offered, to marketing campaigns, editorial stories, and the products featured in homepage banners and email blasts. It’s the merchandiser’s job to act as the bridge between the fashion industry and the fashion consumer. They are always one step ahead, analyzing runways and predicting the trending new style or brand so they can make sure the customers see it (and ultimately shop it).
As a fashion writer (and shopping addict), I have to admit: trends give me an adrenaline rush. I love seeing what new style aesthetics are having a major moment and how I can incorporate them within my own wardrobe (current obsession: rosettes). So I couldn’t wait to hear what Candace had to say when it came to 2023’s biggest trends.
Quiet Luxury gives you that “IYKYK” vibe only the true fashion crowd recognizes.
“Lately, we’ve seen a lot of trends from past decades re-emerge thanks to social media, such as the early 2000s/Y2K aesthetic that first popped up on TikTok,” says Candace. “Key pieces from the early 2000s trend include everything utility– army jackets, cargo pants, etc. Also, baggy denim paired with adidas sneakers (Sambas and Gazelles in different colorways) is also a major player in this trend.”
Another trend defining 2023 is the rise of Quiet Luxury. An aesthetic driven by the popularity of Succession and Sofia Richie’s wedding style, Quiet Luxury or “Stealth Wealth” is marked by “high-end, label-less designer pieces that are timeless and do not follow fast fashion fads,” explains Candace. Think The Row’s elevated minimalism– high quality materials in simple silhouettes and no branding in sight (and usually steep price tags). This trend gives you that “IYKYK” vibe only the true fashion crowd recognizes.
Color also plays a major role when it comes to trends. Currently it feels like I’m still looking through pink colored glasses thanks to #Barbiecore dominating last year and the Barbie movie about to influence this year’s summer style story. So will fuschia pink still reign supreme for 2023? While we’ll still see a lot of hot pink shades this year, Candace predicts the “IT color scheme” will be more muted tones. “Think lavender, butter yellow, sage green, and mauve pinks.” It’s giving Quiet Luxury of color aesthetics: rich yet understated.
For 2023’s core trend aesthetic, sorry Barbiecore, but it’s time for something new, or should I say–literally old. This year will begin (or reintroduce) our Vintagecore era. “Vintage, or second-hand shopping, is a great way to try out new trends without contributing to the over-consumption cycle that fashion produces,” says Candace. “Some of the most special pieces in my closet are vintage, from designers I couldn’t normally afford.” Which is why StockX is the perfect source for Vintagecore. While products may not be considered “second-hand” by definition, you can still find coveted luxury treasures that have never been worn or used, but are still hard to get your hands on and come from nostalgic collections of the past.
Products to Love
We know what brands to watch. We’re up to speed on the trends to look out for. But when it comes to start saving up and shopping for these luxuries, what exact products are worth investing in? Good question. The hardest, but most fun and rewarding part comes next.
Luxury shopping is a long-term investment– both financially and emotionally. Who doesn’t get a spike of dopamine after finally securing that luxury item you’ve been searching and saving up for. Not only that, research also shows that buying luxury goods has become a smart way for customers to invest in alternative value-holding assets beyond traditional sources like diamonds or stock. Watches, rare sneakers, and designer bags are raising prices and tightening their distribution, thus leading to an increase in value over time and making them more enticing for customers looking to invest in luxury fashion.
However, all this talk on long-term luxury investments (more on this soon) doesn’t mean there still isn’t an urgency around current coveted styles or restocks in cult buys. When I asked Rachel Makar– our Senior Director of Accessories (not to mention a luxury handbag collector herself)– what will be the “IT Styles” for 2023, she broke it down by category based on the products making the biggest impact.
The “IT Handbag” will be the Bottega Veneta Sardine Intrecciato Top Handle for the Quiet Lux girlies and the “to be released” Tom Ford-Era Gucci Horsebit Clutch for fall. For shoes, you really can’t say “It Shoe” in 2023 without mentioning a retro-infused adidas silhouette, like the Samba or Gazelle. “Luxury girls are all over this sneaker, and it can pair perfectly with luxury apparel and accessories for a high/low look,” says Rachel. Outside of sneakers, ballet flats will continue to dominate the street style scene, like the Prada Maryjane Ballet Flats. And last but not least, the “IT” apparel and accessories come from the buzzworthy Mugler H&M collab, the perfect example of high/low style. With trench coats having a major comeback this year, Rachel mentions the Mugler H&M Leather Trench Coat as a must-have for fall. When it comes to “IT” accessories, expect to see a lot of oversized earrings, like the viral Bottega Veneta Drop Earrings. However, gloves will also be another “IT accessory” choice, especially the Mugler H&M Bolero Gloves.
Enjoy the bag, and if you love it, keep it in your collection forever. If you’re ready to move on, resell it for whatever the market allows and use that money to upgrade into one of your grail brands.
As an avid designer handbag collector herself, Rachel is truly the perfect person to spill all the intel on where to start with luxury shopping. The price points can be intimidating, after all. But when you’re ready to really start investing in bigger buys, Rachel advises being thoughtful, patient, and purposeful with your purchases. “When investing in luxury pieces, the go-to brands are definitely Hermès, Chanel, and Louis Vuitton. Not only do they have classic styles that have proven to stand the test of time, but they also tend to hold their value long-term.” For handbag investment pieces, Rachel recommends sticking with the classics and brands known for their high quality materials and exceptional customer service that includes repairs. “Bottega Veneta started offering a lifetime warranty on their bags at the end of 2022; combine that with the beautiful leather quality and timeless designs and you can’t go wrong investing in one of these bags,” says Rachel. Other go-to handbag investment pieces include the Hermès holy trinity “BKC” (Birkin, Kelly, and Constance), a Chanel classic flap, and a Louis Vuitton Speedy or Keepall.
For designer shoes, Rachel warns against choosing anything too trendy. “While very enticing in-the-moment, trends cycle so quickly they usually aren’t worth the price tag, especially in footwear,” says Rachel. “Think about the longevity of a piece and whether it will carry you through different stages of your life. Flats, or a quality pair of loafers or boots, are great styles to focus on.” For loafers, Chanel or Gucci loafers are classic choices. “While trendy in their time, they still have timeless qualities and can easily play an important role in your wardrobe for a lifetime.” For heels, she recommends watching the heel height (we can’t walk on 4+ inch heels forever ladies) and sticking with a classic toe shape. The Christian Louboutin Pigalle 85mm and the Chanel slingback still remain as chic as ever after all these years and are great investments for any wardrobe. And lastly for sandals, Rachel loves the Hermès Oran flats. “It was originally created in 1997 and remains a staple in closets around the globe more than 25 years later. Not to mention, the leather holds its value very well on the resale market.”
While all this talk on luxury shopping is inspiring me to start saving, the most important part about high-end goods is actually the after-care. For bags, it’s really important to store them properly, keeping them away from direct sunlight to avoid color change or fading. “I like to stuff mine with acid-free tissue paper to ensure they keep their shape,” says Rachel. And while you may think keeping handbags in the dust bag is a safe way for protection, Rachel actually recommends taking them out every once in a while to let the leather breathe.
But don’t let these tips scare you from actually using your investment pieces either. As someone who went years treating each luxury purchase like a rare collectible in a museum, I missed the entire point of the long (yet rewarding) process of luxury buying and collecting in the first place: to actually enjoy the things you invest in.
Rachel sums it up best: “Enjoy the bag, and if you love it, keep it in your collection forever. If you’re ready to move on, resell it for whatever the market allows and use that money to upgrade into one of your grail brands.”
Nothing lasts forever, they say. Except high quality, well cared for luxury items we say.
