Pamela N. Danziger , Contributor
Bain & Company just released its predictions for the luxury market in 2017. It expects the overall luxury market, including both luxury goods and experiences, to post 5% growth this year to reach €1.2 trillion globally. After what it calls a “reboot” from 2015-2016, it sees the luxury market reaching a “new normal” of 4-5% annual growth through 2020.
Taking credit for this exuberant forecast is the rising tide of luxury-leaning millennials that luxury brands are finally starting to connect with. “It’s an interesting time in the world of luxury – the millennial state of mind has changed the way purchases are made across generations and has pushed luxury brands to redefine what they deliver to customers,” said Claudia D’Arpizio, a Bain partner and lead author of the study. “For brands that manage to get this right, there is significant potential growth in the market for personal luxury goods in the years ahead.”
Luxury cars lead the market in size, expected to total €489 billion in 2017 on 6% growth. Luxury cruises, a scant <1% of the global market, is predicted to close 2017 up 14% , while private jets and yachts (2% of total) will decline by 2% and fine art (3% SOM) will only rise 1%. All the other categories in the study – hospitality, wines and spirits, luxury food, high-quality home design – will rise 4-6%. Personal luxury goods, the second largest segment at 23% of total, will grow 5% to reach €262 billion.
Matt Damon – You Tube
We have all experienced the joy of trying to fold a fitted sheet(UGH!). Martha Stewart's friends Kevin Sharkey and Douglas Friedman demonstrate how to fold a fitted sheet in the wind.
Joe Steinkamp – 1 day ago
Joe learned a few new terms at ACB 17 that he would like to share with you all. “Accessible Bedding” and “Stay Put Bedding” were terms Joe wasn’t familiar with before he started this interview with Ruby Russell and Louie Scheel, who happen to be the co-founders of Distinctive Beddings. But these terms may just begin to slip into conversation with others, as these new linen items may just be the greatest thing ever for those of us who never enjoyed making beds with perfectly straight seams or hospital corners.
Consider this the Martha Stewart equivalent of finding out Santa isn’t real, or that SPF 100 really won’t work. You ready for this?
A higher thread count doesn’t mean you’re buying a better quality sheet. Yes, higher does NOT mean better.
Believe us, we were as shocked as you. We wanted to get to the bottom of this misconception — obviously — so we spoke with Nancy Koltes, a luxury linens designer, and Shannon Maher, Assistant Professor at the Fashion Institute of Technology Home Product Development Program who also has a background in bedding, to try to figure out this bed linen lie.
Thread count, which Maher defines as “the number of yarn per square inch“ seems to have started as a pretty genius marketing idea.
“[It’s] an invention of the American market,” said Koltes. More specifically, thread count isn’t so much a “lie” as it is a falsified way to determine to the quality of sheets, especially when it’s used as the only way to determine quality. Just as we attach labels like “low-fat” and “organic” to food, linen retailers extended this to luxury linens in the mid-1990s, Koltes explains. By the early 2000s, the “thread count lie” had reached new levels when the first 1,000-plus thread count linens were introduced. “It’s just all promotional. Thread count doesn’t represent quality,” Koltes says. Nevertheless, it seems to have stuck with customers.