Byoma, a Glasgow-based beauty brand launched in 2022, has achieved over $500 million in sales since its inception, rapidly impacting the market and challenging traditional luxury markers. This rapid market capture by a brand less than four years old shifts consumer valuation.
Traditional luxury often relies on decades of heritage and exclusive pricing, but a new generation of brands thrives on compelling narratives, unique craftsmanship, and modern values. Legacy prestige now contends with immediate cultural relevance.
Established luxury houses must integrate storytelling and value-driven propositions into their core identity, or risk ceding market influence to agile, purpose-driven newcomers. Highsnobiety defines 'New Luxury' as a focus on story and craftsmanship, not just price tags, fostering a discerning appreciation of product origins and brand ethos, according to Highsnobiety.
The New Guard: Brands Redefining Luxury
1. Skims
Best for: Modern shapewear and loungewear with inclusive sizing.
Skims reportedly raised $225 million in funding in November, valuing the company at $5 billion, according to Time Magazine. This rapid valuation disrupts the market through direct consumer connection and modern product focus.
Strengths: High valuation, strong brand recognition, inclusive product range. | Limitations: Limited heritage, relies heavily on celebrity association. | Price: Moderate to Premium
2. Schiaparelli
Best for: Avant-garde haute couture and statement accessories.
Schiaparelli's haute couture gowns can cost $20,000 and up. The brand is now among the top five best-selling at Harrods, following its revival under creative director Daniel Roseberry since 2019, according to Time Magazine. This resurgence reclaims market relevance for heritage brands through bold artistic direction.
Strengths: High-end exclusivity, strong artistic vision, revived heritage appeal. | Limitations: Extremely high price point, niche market. | Price: Ultra-Luxury
3. BODE
Best for: Unique, handcrafted menswear and womenswear from repurposed textiles.
BODE, founded by Emily Bode in 2016, repurposes vintage fabrics for clothing tailor-made in New York and New Delhi, according to Highsnobiety. This approach defines luxury through unique intellectual and emotional connection, not just scarcity.
Strengths: Unique narrative, sustainable practices, exceptional craftsmanship. | Limitations: Limited production, higher price due to artisanal methods. | Price: Luxury
4. Acne Studios
Best for: Contemporary fashion with a distinct, minimalist-maximalist aesthetic.
Acne Studios, founded in Stockholm, creates collections described as contemporary yet classic, essential but eccentric, and experimental, according to Highsnobiety. The brand's design philosophy challenges conventional luxury norms with its unique aesthetic.
Strengths: Distinctive design, strong brand identity, cult following. | Limitations: Less emphasis on overt luxury signifiers, sometimes inconsistent availability. | Price: Premium Luxury
5. Dries Van Noten
Best for: Eclectic, elegant fashion with vibrant prints and rich textures.
Dries Van Noten is known for eclectic elegance, using vibrant prints, rich textures, and layers, mixing traditional tailoring with modern streetwear codes, according to Highsnobiety. The brand challenges established luxury with its distinct design and artistic expression.
Strengths: Artistic vision, high-quality materials, unique aesthetic. | Limitations: Niche appeal, less focus on rapid trend cycles. | Price: Luxury
Old Money vs. New Vision: A Shifting Landscape
| Category | Established Luxury (e.g. Ralph Lauren, Schiaparelli) | New Luxury (e.g. Skims, BODE) |
|---|---|---|
| Founding/Revival | Decades of heritage (Ralph Lauren: 1967; Schiaparelli: revived 2019) | Recent inception (Skims: 2019; BODE: 2016) |
| Core Value | Legacy, exclusive pricing, broad market appeal | Narrative, unique craftsmanship, modern values |
| Market Impact | Sustained profitability, broad market reach (Ralph Lauren revenue: $7.1 billion in 2026) | Rapid market capture, high valuations (Skims valuation: $5 billion) |
| Pricing Strategy | Ultra-high-end for bespoke (Schiaparelli gowns: $20,000+) | Premium to Luxury, often value-driven |
| Approach to Design | Traditional tailoring, established codes (Dries Van Noten: eclectic elegance, mixing tailoring with streetwear) | Repurposed materials, hyper-focused aesthetics |
Heritage brands like Schiaparelli and Ralph Lauren maintain robust financial performance, their success rooted in established prestige and broad market appeal. Ralph Lauren's revenue reached $7.1 billion in 2025, achieving its highest profit margin in over a decade, according to Time Magazine. This contrasts with the niche, story-driven approach of newer luxury brands, creating a bifurcated market where rapid, narrative-driven growth coexists with sustained, heritage-driven profitability.
The future of luxury will likely see established houses, like Ralph Lauren with its $7.1 billion revenue in 2026, needing to integrate the narrative-driven, craftsmanship-focused strategies of agile newcomers like Byoma and Skims, or risk ceding market share to brands defined by immediate cultural relevance and modern values.
