In 2009, on the set of the “Late Show with David Letterman”, the American host asked Anna Wintour what a person who only had a budget of 20 dollars could buy to be ” fashionable “. The editor-in-chief of US Vogue responds straight away: ” Lipstick. » Nearly fifteen years later, the comeback is no longer valid.
And the gateway to luxury – these categories of products which allow the middle classes to afford a piece of logoed dreams, key rings, purses and wallets, scarves, make-up, perfumes, etc. – seem, for some, closed, while others open.
If it costs around 45 euros for a red lip signed by a major French luxury house, it is better to have around a hundred euros for a perfume, a thousand for a pair of sneakers and more than 3 000 euros for a handbag… Not even to mention the famous classic Chanel flap bag, which went from 5,800 dollars in 2019 (5,000 euros) to 10,200 dollars (8,900 euros) today, was moved The Wall Street Journal, last spring.
According to data analysis firm Edited, based in the United Kingdom, the prices of luxury goods have increased by an average of 25% since 2019, making them ever more inaccessible for so-called “aspirational” consumers. a target that is nevertheless crucial for brands.
“Models often labeled”
In this context, glasses or sunglasses appear to be a rather affordable luxury accessory. “They provide a way for consumers to purchase their favorite brands at a reasonable price. In a tense economic situation, with purchasing power contracting for all age groups, especially young workers, there is a shift in purchases towards cheaper products. explains Caroline Ardelet, professor at the French Fashion Institute.
According to Joëlle de Montgolfier, research director for the Luxury and Distribution divisions of the American consulting firm Bain & Company, glasses also have interesting specificities. “Unlike perfume or makeup, the brands we wear are noticeable and easily identifiable. The models are often logoed and, moreover, they are displayed in the middle of the face. As it is a very visible accessory, customers are even more sensitive to notions of aesthetics and distinction. Furthermore, part of the purchase price can be reimbursed by a mutual insurance company. »
Coincidence or not, in October, when it published negative financial results for the third quarter of 2023 (turnover at − 13% in published data, with significant declines endorsed by its main houses, Gucci, Saint Laurent and Bottega Veneta), the Kering group saw its eyewear division do well. Kering Eyewear, which designs and distributes pairs of seventeen brands (including those of the group), posted double-digit growth (+ 34% in published data ), and thus confirmed a general trend in the sector: the boom in luxury optics.
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