Is Street Wear Set To Be The New High Fashion?
Luxury fashion is set for a big shake up with news that French high-fashion brand Louis Vuitton has signed Virgil Abloh as their new Artistic Director of menswear. The new role is an exciting and refreshing update for Louis Vuitton, with Abloh guaranteed to inject his signature street-wear flavor into the traditionally conservative brand.
"It is an honor for me to accept the position of Men’s Artistic Director for Louis Vuitton. I find the heritage and creative integrity of the House are key inspirations and will look to reference them both while drawing parallels to modern times." said Abloh in a statement released on the official Louis Vuitton Instagram page.
Virgil is widely known for his work at Fendi, as the founder and director of cult street-wear brand Off White, and as being a long time creative collaborator with rapper turned fashion mogul Kanye West.
"Having followed with great interest Virgil's ascent since he worked with me at Fendi in 2006, I am thrilled to see how his innate creativity and disruptive approach have made him so relevant, not just in the world of fashion but in popular culture today. His sensibility towards luxury and savoir-faire will be instrumental in taking Louis Vuitton menswear into the future," said Michael Burke, Louis Vuitton Chairman and CEO.
Abloh’s appointment to LV is the latest signal that street-wear is set to shape the future of large French heritage houses, following in the footsteps of Oliver Rousteing at Balmain.
The move will also be a huge financial success if current trends continue. According to global consulting firm Bain & Company, recent combinations of luxury and street fashion sectors has increased the sale of luxury brands by 5 per cent in the last 12 months. And while 5 per cent doesn’t seem like a whole lot, when dealing with luxury brands, that increase equates to a hefty total sector earing of US$325 billion.
