The fashion industry is consumed with the question of what happened to aspirational shoppers: consumers wealthy enough to buy luxury goods in happy times, but who aren’t so rich they’re immune when the economy turns south. This cohort has dialled back its spending with brands like Gucci and Burberry, that’s clear. Where they’re shopping instead is less obvious.⁠
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This week we’ll get some answers. Two of the biggest players in the aspirational category — Ralph Lauren and Michael Kors-owner Capri — report quarterly results this week (Tapestry, which owns Coach, reports later this month). These are brands that make their billions largely by offering a taste of the good life at a premium, but not too premium, cost.⁠
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The question now is whether these brands have done too good a job at elevating their image. Their core customers are feeling the effects of inflation, and may be more open to shopping the outlet malls and department store discount racks that many of these companies have edged away from in recent years. ⁠
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Read more about the clues as to how well-off, but not that well-off, consumers are spending their money, plus what else to watch for in the coming week. #linkinbio⁠
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✍️ @bbaskin512⁠
? Michael Kors