FT.com / Style - The teen market
29/08/2009 14:50
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The teen market
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By Lucie Greene Published: August 29 2009 02:33 | Last updated: August 29 2009 02:33
September is just around the corner and across the globe stores are buzzing with back-toschool shoppers. Pencil cases are being upgraded. Gym kits purchased. Feet measured. But this time around the standard-issue school uniform simply won’t do. Thanks partly to a cultural shift that promotes “younger ‘style icons’ such as Lourdes Ciccone, Hannah Montana star Miley Cyrus, and Amba and Assisi Jagger,” says Averyl Oates, Harvey Nichols’ fashion director, and partly to the recession, which has parents assuaging their own frustrated desires by continuing to purchase (slightly less) expensive branded goods for their children, the “tween” (pre-teen) and the fully fledged teenager have steadily emerged as significant and valuable consumers. Indeed, this month the fashion magazine Love, has devoted its entire second issue to teenage stars, including Taylor Momsen (16, star of Gossip Girl), Coco Sumner (19, child of Gordon aka Sting), singer Taylor Swift, 20, actor Kristen Stewart, 19, and Miley Cyrus, 16. Little wonder that fashion brands, hyper-aware of the paparazzi attention devoted to the new stars and their influence, have been wooing them not only to wear their clothes, but help make them. Emma Watson, 19, fronts Burberry’s campaign this autumn, and fashion blogs are abuzz with rumours she will design a clothing line for the fair trade brand People Tree; this month Cyrus teamed with Max Azria to create a junior collection for Wal-Mart; while another Gossip Girl star, Leighton Meester, 23, picked up her Teen Choice Award clad in Louis Vuitton, and the fashion credits in the hit series in which she stars run from Burberry to Valentino.
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Retailers are increasingly focusing on younger luxury shoppers, concentrating on a broader range of contemporary and accessibly-priced designer brands. Harrods plans to launch a tween premium denim bar late next year, dedicated to labels such as True Religion, Rock and Republic and Diesel; Selfridges will unveil a new contemporary fashion and denim space on its third floor this autumn and Harvey Nichols have swept away their homewares department to begin work on a contemporary floor aimed at younger clientele, opening in January. “It will have brands such as Alexander Wang and the diffusion line T by Alexander Wang, which are popular with this [tween] type of customer,” says Averyl Oates.
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For Angela Rumsey, business editor at retail watchdog WGSN, it’s a logical move. “It makes sense for brands to target younger audiences,” she says. “They are the next generation of consumer.” Still, says Rumsey, luxury brands Leighton Meester “need to look at how the next group consumes, and focus more on technology. They also need to get better with social networking and communication. Younger consumers want a conversation with the brands they buy.” Successful brands are already adapting. This month, the teen magazine Seventeen launched an iPhone application which allows readers to purchase “favourite products” chosen by the cover girl of each issue. MTV has been pioneering Seenonmtv.com, a site that allows viewers to search by episode, and purchase clothes worn by stars of shows such as The Hills and The City. (According to the entertainment business magazine Portfolio this site generates an annual revenue of $20m, with 30m page views a month.)
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Nevertheless, says Rumsey, “You can’t treat this group in the same way as the previous generations. They have many different priorities, the environment being a major concern. They’re highly sophisticated. Luxury brands need to create something that will appeal directly to them. I’ve yet to see that.” Consider it this semester’s project. Copyright The Financial Times Limited 2009. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web. Print article
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FT.com / Style - The teen market
29/08/2009 14:50
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