Weekend Briefing: As inflation rises, fast fashion proves more tempting

As inflation continues to depress spending, I’ve often thought about the different reactions between luxury customers and mass consumers. 

Insights from BoF show that handbag prices are skyrocketing. Chanel, Versace and other luxury brands have been increasing their prices over the last six months with little protest from their wealthy customers. It’s understandable. Nobody buys Chanel because they’re looking for a bargain. 

But for some people, those who strive and save to be able to afford a nice bag, even a modest price increase can make a one-time splurge an impossibility. 

As prices rise, brands outside of the high end of luxury will need to find a way to prove their value to cash-strapped customers. 

A new Shein competitor, the Chinese ultra-fast fashion company Pinduoduo, launched an app in the U.S. last week, allowing customers to buy thousands of dirt-cheap styles released every week. It’s already been downloaded more than 400,000 times.

With prices going up everywhere, the appeal of fast fashion is stronger than ever, even with the many ethical and environmental concerns. 

But there are other ways to shop smarter during a recession. Resale is both price-effective and better for the environment, and brands like Telfar and Nike offer a way to stay on-trend at reasonable prices.

Fashion month continues

We’re halfway through fashion month, with New York and London in the rearview. Milan is happening now and Paris is up next. Across Glossy’s coverage, in briefings and podcasts, we’ve noted the big trends and news. 

In New York, glamour and diversity were present, while London was a more somber affair in the wake of the queen’s death. Glossy’s international fashion reporter Zofia Zwieglinska, who attended several of the shows in London last week, told me that the entire week was to be restricted to business events only. No parties, just shows.

But when was the last time any fashion week was business only? Obviously, every fashion week is aimed primarily at the industry and its insiders, but Instagram and see-now, buy-now have made them consumer-focused events, as well. 

We’ll be covering Milan Fashion Week next week, and Glossy’s editor-in-chief, Jill Manoff, is jetting off to Paris after that. 

Yeezy x Gap

Kanye West’s partnerships with Gap may be coming to an end, but the line’s collaboration with Balenciaga, which launched in February, got a part two last week. It was scheduled before the split with West was announced. 

The Engineered by Balenciaga collab may be the actual final iteration of Yeezy Gap.