Working in the luxury market, the British woman was in Brazil to talk about the new generations’ vision on the topic
Days before the Paris Fashion Weekthe most anticipated event for the luxury fashion from all over the world, an English visitor arrived in Sao Paulo with a proposal to reimagine this fascinating and competitive market. With 20 years of experience, Diana Green Nieto specializes in environmentally conscious practices in large institutions. His resume includes work with names like the former Vice President of the United States Al-Goreexperience at the United Nations Department of Economic and Social Affairs and work in large multinational companies, such as the LVMH group. In January this year Verde launched the book in London Reinventing luxury, Reinventing luxury in free translation. For the scholar, who was in Brazil last Tuesday 17th, at the invitation of Caroline Putnoki, at the France Excellence event, dedicated to the approach of French luxury linked to the culture of the country, the reinvention of the market passes through innovation and the use of new technologies. It is also about the re-signification of this word, which in recent years has been misunderstood, since it has a different meaning for the Generation Z.
According to estimates by research firms such as Bain & Company and Euromonitor International, the France is responsible for approximately 30% of the capital moved globally by the luxury fashion marketwhich amounts to around 1.5 trillion euros every year. The significant value demonstrates the huge volume of products launched and, consequently, the high costs for the environment. But according to Diana, who speaks on the subject based on conversations with industry executives, research and analysis, the situation seems to be changing. “Luxury is often associated with opulence and excess. But these concepts have evolved with the times and, in 2024, this is no longer true. The word ‘luxury’ also carries the idea of something that is trapped in time, that does not seek innovation and is not progressive. This is also a mistake,” she explains. “Today’s luxury dances between paradoxes: on the one hand, modernity and innovation; on the other, the heritage and history of each brand.” Both are fundamental concepts for the perspective proposed by the expert, who concludes: “Today they are choreographed perfectly, in a way in which it is possible to experience them without opulence.”
From this metaphorical dance that Verde refers to, approaches emerge that, while different, align perfectly with the idea of more sustainable luxury. “The tradition and history that the big brands in this market carry forward over time materialize in products that bring their traditional know-how to the present and that are linked to values related to quality and durability. These predicates are timeless and are a consequence of the construction skill and careful reflection behind each creation, so a secondary value comes into play, linked to sustainability: the ability of the product to be passed on to other generations”, Diana specifies, in a line of thought that suggests a look at luxury with a focus on products that are not tied to a single season and that, consequently, generate less waste and better use the resources necessary for their production. “When a luxury brand produces something, it lasts a long time. Designing for obsolescence is no longer an option; durability and transparency are at the top of the luxury agenda in 2025”, she concludes.
The focus on quality, rather than quantity, encapsulates the lifestyle Diana attributes to the new generations Z and Alpha, who, as she puts it, prioritize joie de vivre, a French term for the joy of living, as much as possible. “They don’t live to work; they work to live. They don’t live to eat; they eat to live…” “They want to work, yes, but they want to live, have fun, help each other and have experiences.” In this line of thinking, opulent luxury, which made sense to the Boomers [nascidos entre 1946 e 1964]who sought security by acquiring maximum resources in the post-war period, no longer makes sense.”
In addition to valuing quality, the new generations also seek experiences. This leads to another reinvention: the strategic actions that brands have increasingly carried out, focusing on experiences that go beyond the product. “Luxury brands have succeeded very well in democratizing this market. They have done so starting from the awareness that luxury is not limited to a thing or just a physical product; luxury today is an experience,” underlines the expert. “THE LVMH [maior holding de marcas de luxo do mundo] he does it very well. Sponsorship of 2024 Olympic Games It was brilliant. It was the ultimate democratization of luxury, because everyone could enjoy it. The price of the item itself, the luxury product, remains the same, but the experience is for everyone,” she explains. The author goes on to also mention the cafés that brands like Prada and Fendi have opened, creating a new point of contact with The brand goes further, and concludes by talking about museums and other institutions: “When you think about the LVMH portfolio, you have, for example, the Jardin d’Acclimatation, in Paris, and the Fondation Louis Vuitton, which is a free experience in Paris for a few moments. You can have the experience and the concept, whether you pay thousands of dollars or nothing.”
Source: Terra
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