Year in review 2024 and trends to celebrate the new year

Year in review 2024: We bring this year to a close by taking a look back at the most important milestones in the industry and opening up remembering the recent final year celebrat

 

Year in review 2024: Introduction

2024 will be remembered for seeing fashion’s greats leave, others enter and those who remain also have new visions to contribute. Here’s a round-up of everything from the changes on the board to the footwear we’ve worn till we’re blue in the face.

 

The ones who enter for the ones who leave

After 10 years at the head of Maison Margiela, and having left behind his previous period of decline at Christian Dior, John Galliano said goodbye in style. The January 2024 Maison Margiela Artisanal show is now part of fashion history, not only for its theatrical figures corseted with a contemporary twist, but also for the staging that came full circle.
There are great figures in the sector who are icons without ever having a moment of maximum flowering, perhaps because of their quiet and discreet personality, as is the case of Miuccia Prada. Both the firm that bears her surname and Miu Miu are now enjoying great fervour, which is all the more meritorious given the current crisis in the luxury sector.

If we continue with discreet figures, we can talk about Ashley and Mary-Kate Olsen, who with their brand The Row banned mobile phones at the fashion show and in exchange gave each attendee a notebook and a pencil. The networks went up in flames because it was considered undemocratic, but behind this strategy, repeated in both fashion shows, there is a clear intention of exclusivity and vindication of the analogue and being present in the here and now.
We have to thank Chamena Kamali for bringing back the boho chic style, her debut at Chloé has been a success because she perfectly understands the values of the maison.
Another great figure who is saying goodbye is Dries Van Noten, loved by connoisseurs, discreet and hard-working, he leaves a great legacy not only of style and appreciation for quality but also a philosophy for understanding the craft.
And finally, we have a replacement at Chanel, there was much speculation and Matthieu was among them. His discreet profile and his acclaimed successes at Bottega Veneta have the entire fashion industry looking forward to his debut in 2025.

What’s happening in the luxury sector?

In 2024, the luxury sector has undergone several significant changes:
Slowing growth: after years of double-digit expansion, the sector has returned to more sustainable growth rates. Growth is forecast to average 6% per annum between 2023 and 2025, with an estimated 1% growth in 2024 and between 4% and 5% in 2025.
Impact of the Chinese economy: China, which accounts for one-third of global luxury sales, has seen a decline in demand due to the real estate crisis and the strong yen, negatively affecting the sector.
Major luxury firms, such as LVMH, Kering and Chanel, which increased their prices during the pandemic, are reconsidering this strategy due to declining demand, especially in China. They are expected to lower their prices cautiously to avoid a drop in sales, although they fear this will dilute the value of their brands.
Access to luxury in Russia: Despite Western sanctions and the withdrawal of some brands following Russia’s invasion of Ukraine, wealthy consumers in Moscow continue to access Western luxury goods. High-end shops continue to operate, defying expectations about the impact of sanctions on this sector.
Outlook for 2025: A slight recovery in the luxury sector is anticipated after the slowdown in 2024. Global sales could reach €363 billion, with a renewed focus on affluent customers and increased pressure to meet environmental and social standards. In addition, new creative directions in prominent brands are expected to revitalise the industry.
In summary, 2024 has been a year of adjustments and challenges for the luxury sector, marked by a slowdown in growth, strategic reconsiderations in pricing and an increased focus on labour conditions and sustainability.

Trends that set the tone for 2024

Without a doubt we can say that the colour of the year has been burgundy, the shops have been filled with this shade bringing elegance and a touch of colour to the neutral tones, which have had brown as the king. Both burgundy and brown are perfect colours for leather accessories. At Pytón, we detect an increase in demand for both tones. Enter our website and discover the variety of leathers that fit the colour trend.

Beyonce and Pharrell Williams have made us want to wear a hat and cowboy boots. 2024 was the beginning but in 2025 we will continue to see a wide variety of styles.
Ballerinas, those forgotten for so many years, are back with a vengeance, back with straps, back with inlays, back in simple nappa leather or back in leopard fur. Discover on
our website the skins that best fit.

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Year in review 2024: How to say goodbye to the year

Despite the years, there are some things that don’t change, like white, black and red to celebrate the holidays. Go for timeless basics that can have more than one use, such as classic shoes or simple handbags. For those who are more daring, metallics are always a hit, find a more youthful look in silver and a more elegant style in gold. At Pytón you will find the metallic leathers that best suit your brand’s style.