Source : https://www.spireresearch.com/newsroom/spirethoughts/the-future-of-luxury-consumerism/

The future of luxury consumerism


The global luxury industry is in a slowdown, thanks to China’s weakening economy, instability in the Middle East and decreased tourism in Europe – meaning only 1 percent year-on-year real growth in May 2016.

But the face of luxury consumerism is changing as upstart brands show the way in terms of innovation and versatility.

Diamond Foundry – a start-up based in San Francisco – creates lab-grown diamonds that are atomically similar to those found in nature. Tech CEOS and actors from Hollywood have invested in the company. This start-up aims to provide an ethical alternative to mining diamonds, an industry that is often associated with negative environmental and social impacts.

Will innovation enable the luxury goods industry to adapt to a leaner economy?


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Spire Research and Consulting is the leading research consultancy in global emerging markets. Spire's competitive advantage lies in its ability to deliver actionable intelligence on the external business environment in support of its clients’ strategic decision-making in marketing and business development. Spire's clients include 50 Global Fortune 1000 companies and government agencies in 15 countries. For more information, please visit www.spireresearch.com.


For media enquiries, please contact:

Alyssa Tan
Manager, Group Corporate Communications
Spire Research and Consulting
Phone: (65) 6838 5355
E-mail: alyssa.tan@spireresearch.com

Nidhi Singh
Executive, Corporate Communications
Spire Research and Consulting
Phone: (91) 124 654 2062
E-mail: nidhi.singh@spireresearch.com