Looking at Luxury

In: Business and Management

Submitted By louiselum
Words 4869
Pages 20
Looking at luxury: consuming luxury fashion in global cities

Professor Louise Crewe, University of Nottingham, UK
Dr. Amber Martin, Queen Mary University of London, UK

1: Introduction

This chapter explores the growth and transformation of the global luxury fashion market focusing specifically on the flagship stores of the largest global luxury fashion organisations.[1] The conceptual basis of the chapter lies in recent debates about global economic austerity and the future of consumption under conditions of precarity. The chapter focuses on the remarkable resilience of the luxury market in the face of global recession and the slow-down in consumer spending. Luxury consumption and passionate investment are argued to provide one means through which the more deleterious effects of the over-consumption of cheap, throwaway, fast fashion can be effaced. The arguments made in the chapter are both theoretically and empirically significant. Firstly, luxury fashion is empirically an important but neglected area of scholarship and one with a pronounced Geography that requires scrutiny. The luxury fashion market is significant not only in terms of its value but also in terms of its rate of growth which has significantly outpaced that of other consumer goods categories over recent decades. The rate of growth has been driven by a variety of factors, including growing concerns over the economic, environmental and social impacts of throwaway fashion, a desire for more responsible investment purchasing, a renewed interest in the provenance of goods and an increase in the number of high-net-worth individuals (HNWI) with the desire and economic capital for luxury brand consumption (Bourdieu, 19xx).

In conceptual terms, our research is one of the first studies to explore luxury fashion within broader geographical scholarship on retailing, consumption and space. We…...

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