Between consignment e-tailers and luxury-label rental sites, consumers are approaching designer fashion with a whole new mentality. The constant influx of celebrity news, celebrity stylists, and brand participation on social media means we know everyone’s fashion tastes. Many women once dreamed of emulating Elizabeth Taylor’s wardrobe—and it remained just that: a dream. “Luxury is changing—and changing for the more value-centric consumers who are much greater in number than pure luxury [products],” says Marshal Cohen, chief industry analyst of The NPD Group.
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FAST COMPANY 9/15/2016