Fashion trends in 2021: Dior vs Chanel, Chinese buyers vs local customers, and even more athleisurewear
- Major luxury fashion markets that used to depend on shoppers from overseas will lavish attention on local customers as they wait for Chinese clients to return
- Loungewear’s rise will accelerate, more will consider rented or second-hand luxury, and Dior’s competition with Chanel will only deepen
This year has been like no other in recent memory.
The coronavirus pandemic has had a huge impact on every sector of the global economy in 2020, accelerating trends that were already changing the way we consume everything from clothes to food.
A recent report from consultancy McKinsey and fashion trade publication Business of Fashion revealed an astonishing 90 per cent decline in profits for the global fashion industry in 2020, the sector’s worst year on record.
With the help of trusted experts, we take a look at some of the key issues that have affected the industry this year and are likely to be some of the most talked-about topics well into 2021 and beyond.
Local currents
Amid travel bans imposed by countries during the pandemic, tourist-driven markets such as the UK, France, Italy, Hong Kong and Singapore, whose luxury retail stores have always relied on a steady influx of shoppers from China and other emerging markets, have had to pivot to the previously forgotten local customer.