It goes without saying that the current fashion market has become more diverse than ever, joining the democratisation of the fashion industry as a whole. On one end there’s fast fashion, cycling through trends and providing access to every fashion niche. On the other end, there’s high street closing the gap with high fashion through designer collaboration. Across this spectrum, the latest market catching steady growth is affordable luxury, and it’s all thanks to Gen Z shoppers.
But What Even is Affordable Luxury?
It might sound like an oxymoron, but affordable luxury can be best described as luxury design and materials without a price tag that makes your eyes water. It includes runways at the most prominent fashion calendars, campaigns and editorials that sit comfortably among the luxury crowd, and prices way above the high street level but not crafted to be exclusive to the 1%.
They come with the right fabrics, design chops, and sometimes even heritage to back them up. And it’s exactly why Gen Z shoppers—the latest demographic to enter the luxury market—love them so much.
The Desire for Affordable Luxury
Affordable luxury is by no means a new phenomenon, but it was a dwindling market. Gen Z’s rediscovery is what has prompted its revival. One of the defining brands is Coach. In 2020, the house decided to rebrand, and in the following year, released the Pillow Tabby, which promptly went viral among the Gen Z crowd. With over 100 years of heritage and quality craftsmanship, people began falling in love with the brand all over again.
The same can be said for Tory Burch, whose pierced mules began selling out in 2023, allowing for the rest of the brand to receive notice. Dubbed the “Toryssaince”, Burch reportedly goes on to mention how the newfound attention made her feel like a new designer.
But the love doesn’t come out of thin air. For Gen Z, a demographic that grew up around economic instability and access to infinite knowledge, luxury consumption needs to fulfil more than just aspiration. They gravitate to materials that help the environment, not degrade it and pieces crafted for lifetimes while remaining trendy. And as they continue to navigate a turbulent economy, money for value becomes increasingly important.
With these caveats, fast fashion and high street feel too limiting while high fashion feels too risky. While some pieces can be justified as investments, for a Gen Z shopper, wardrobes are being carefully curated with dedicated research and realistic budgets. Hence why everyone loves Coach now. Why brands like Tory Burch are being stocked at Level Shoes in Dubai Mall. Why vintage Fendi Baguettes are being sold faster than ever. And why affordable luxury is gathering a larger space in the fashion market.
