In this quiet luxury era, it is all about that “if you know, you know” vibe.
Clients at UltraLuxe ‒ an annual Singapore-based festival for niche jewellery, fashion and timepiece brands ‒ tends to focus on independent or niche brands that may not necessarily be easily recognised at a glance but offer top notch craftsmanship. (Photo: UltraLuxe)
Southeast Asian consumer research firm Milieu Insight has released its most recent study on luxury goods consumption in the region. While tech gadgets such as computers and mobile phones was the top luxury category for purchases across Southeast Asia, fashion-related buys, including luxury bags and wallets, apparel as well as jewellery were next on the list, particularly in Singapore.
Additionally, the top reasons why respondents buy luxury goods are for their superior product quality, product longevity and the design or craftsmanship value of the items.
Luxury is not about having the most expensive or lavish item, it is about having the discernment to understand a product. When you consider the shopping evolution of the super rich, they have bought so many things that when they want to impress, it is not about becoming more complicated and ostentatious. At some point this reaches saturation.”
Up-and-coming labels to watch out for include contemporary jewellery label Amedeo, which designs cameo jewellery with modernised motifs or Fope, which creates “stretchable” fine gold mesh jewellery.
“This mesh technology is achieved only with very high quality control, and such innovation and quality control comes at a price. It is differentiated by its precision and for those who have purchased so many things, what they want is something that is not ordinary,” she said.
Increasingly, the most discerning consumers are also seeking a certain “meaning and purpose” behind their purchases, often by being “patrons” of up-and-coming fashion designers.
“It is not just the look-good factor but also the feel-good factor behind the brand and the design. Not only do they wish to find a unique piece but the customer also wishes to understand the history, how it is made and who is making it ‒ it gives meaning to an item,” said Loh.
Drawing a parallel to the Netflix series Halston, which traces American fashion designer Halston’s rise to fame, Loh pointed out that his posse of influential friends, including Liza Minnelli and Bianca Jagger were instrumental in supporting his work in his earlier years.
“It goes beyond personal style to personal vision and it allows them to support a new talent and feel good to be a part of that movement,” she said.
