SUM is a fully integrated branding and marketing agency collaborating with globally recognised luxury and lifestyle brands and ambitious startups on strategy, visual identity, content, and digital.
Whether in London, Dubai, New York, Geneva, or Mumbai, there is an undeniable similarity between the clientele of luxury clubs, hotels, and exclusive medical spas, that is rooted in discernment and an expectation of elevated service.
For this reason, in the world of luxury hospitality, SUM’s approach is always to start by considering needs and attitudes of the customer, and only then to follow with the brand itself, and the experience it delivers.
While the notion of craftsmanship – as it relates to luxury fashion – has traditionally been associated with European artisans, in particular those in Italy, France, and the UK, India has in fact been an active force in intricate design since the 1600s.
The challenge for India has been its recessive image among Western consumers, with many oblivious of the provenance of the beautiful embroidery, fabrics, and jewellery that form part of their luxury wardrobes.
The identity of the craft has so often been subsumed within the identity of the international mega-brand or designer for whom it was commissioned.
In early 2023, Business of Fashion identified that during the year ahead the Middle East would offer the most promising growth prospects for luxury fashion of all global regions.
This impressive market evolution is accounted for by societal changes such as increased social freedoms, and a Gen-Z customer base increasingly in search of luxury brands.
It is also a result of government initiatives such as Saudi Vision 2030, whose ambitions are to enable the Kingdom to develop a thriving economy and a vibrant society that are not solely based on incomes from petroleum.
In the diamond jewellery category lies a conundrum.
While Bloomberg report that ‘prices are in free fall in one corner of the market’, this is not yet being seen across the whole industry.
The corner in question is focused on the more affordable one- or two-carat solitaire bridal rings, which are experiencing soaring demand among price-sensitive consumers.
Post-pandemic, they have been able to ‘splash out on travel and experiences’ as well as being able to buy a real diamond at a much cheaper price.