Many American fashion designers opting out of New York Fashion Week
In a significant shift, American luxury brands are investing heavily in Europe as they seek to amplify desirability and create more emotional connections with consumers. According to Daniel Langer, CEO of luxury strategy consultancy ΓquiteΜ and executive professor of luxury at Pepperdine University, this phenomenon is driven by the conditions in Paris and Milan that are more conducive to luxury brand success.
The allure of Europe lies in its ability to generate global headlines and lasting social media engagement from a single show. The density of fashion media, tastemakers, luxury buyers, and clients in Europe creates a platform that is unmatched, providing global exposure that American cities struggle to match.
Brands that move to Europe can deliver more emotion, greater engagement, richer experiences, and enhanced exclusivity. This is evident in the strategy of luxury brands like Louis Vuitton, which has presented its collections in European cities like Paris in recent years, strengthening its global positioning by distancing itself from American cultural conversations.
Michael Kors has expressed a desire for a more saturated New York Fashion Week, as American-owned brands increasingly present their collections in European cities. However, the gravitational pull of Europe will remain strong for brands seeking global prestige.
The European stage offers a multiplier effect that American brands cannot achieve at home. Advertising in Europe is more deeply connected to the codes of luxury and becomes a tool for cultural positioning. The 4E framework (ensuring every touchpoint generates cultural and financial value) is more effectively applied in Europe than in New York.
For American consumers, the move of luxury brands to Europe can feel like a loss of identity. However, the shift is not just about 'following the money', but about following the conditions where brands can create the most extreme value.
New York has an opportunity to reinvent itself and become more desirable for luxury brands if it can transform its Fashion Week into a stage that celebrates innovation and exclusivity. By focusing on creating a platform that aligns with the ambitions of luxury brands, New York could regain its status as a global fashion hub.
In conclusion, the shift of luxury brands from New York to Europe is a response to the conditions that better support the extreme value creation inherent in luxury branding. As the cultural capital of fashion, Europe offers a clear path to creating desire and justifying high pricing for luxury brands. The future of luxury fashion will continue to be shaped by this dynamic between Europe and the United States.
