LSN : Daily Signals : Stat: Demand for plant-based meat alternatives is dropping

Gaetano Pesce creates swirling resin set for Bottega Veneta

Gaetano Pesce for Bottega Veneta, Italy

Italy – For Milan Fashion Week, renowned Italian design veteran Gaetano Pesce has produced a multi-coloured set for Bottega Veneta’s spring/summer 2023 show featuring resin-covered flooring and an assortment of chairs. Taking place in a Milanese warehouse, Pesce’s resin-poured creation pools into a swirl, marking the runway in tones of pink, blue, orange and lilac.

Inspired by his signature vibrant works with resin, each of the 400 chairs was constructed of cotton canvas then dipped in resin and customised with Pesce’s hand drawings. Some were even branded with the Bottega Veneta name across the back. Pesce declared that he wanted the space to be a ‘tribute to diversity’.

The chairs from the Bottega Veneta show will move on to be exhibited and sold at Design Miami (30 November–4 December), a beautiful use of repurposing. Commissioning work from the legendary Gaetano Pesce adds prestige to the Bottega Veneta brand and aligns it with the luxury home market.

Strategic opportunity

Consumers want to be able to buy into the lifestyle that a brand represents and this extends to the home. Collaborate with creatives who can add a unique touch to product offerings.

Design Declares urges designers to commit to climate action

Design Declares

UK – British designers have come together to address the lack of momentum and initiatives in tackling the climate crisis with a new industry-wide campaign entitled Design Declares.

Initiated by design and innovation consultancy Morrama and creative group Urge Collective, the movement also received support from the Design Council and other organisations, including ethical design practice Driftime and sustainable design studio Snook.

Design Declares urges designers from all disciplines to acknowledge the climate emergency and provides practical toolkits outlining actions, tools and insights to start implementing changes.

‘There is a wealth of information and resources out there; designers often don’t know where to start. We want to offer guidance, accessible tools, and frameworks for change that help designers build their knowledge and empower them further,’ explains Abb-d Taiyo, co-founder of Driftime.

Previous design responses to the climate crisis showed how designers are creatively using their platforms to advocate positive change. Design Declares is following in their footsteps, encouraging industry insiders to act as change-makers and to get ahead of government action with climate-forward practices.

Strategic opportunity

Take inspiration from Design Declares’ approach to climate activism; be collaborative, proactive and scalable

Christie’s launches Department X as collectible streetwear booms

New York – Luxury auction house Christie’s has opened a new division, Department X, which specialises in the auctioning of sneakers, streetwear and sports collectibles. The space will host rare collectibles, ranging from music to fashion, art and sports, appealing to a new generation of collectors. Department X is an opportunity for Christie’s to expand its knowledge of pop culture and allows it to branch out to reach a new clientele.

To mark the launch, the luxury auction house will be holding a private selling exhibition of the rare sneakers, Ye Walks, designed by rapper Kanye West. This literally follows in the footsteps of its recent selling collection of rare Michael Jordon Collectibles.

Department X is proof that the luxury landscape is ever-changing; taste and what is deemed valuable constantly evolve.

Department X by Christie’s, US

Strategic opportunity

Study the changing landscape and cater for a new generation of luxury buyers who still believe in exclusivity yet reject traditional ideas of luxury.

Stat: Demand for plant-based meat alternatives is dropping

Future Farm, Brazil

Global – Once one of the fastest growing food categories, the plant-based meat market is faltering, according to recent data from global market research company Information Resources Inc (IRI).

Inflation is one of the factors responsible for the slowdown, with tighter budgets pushing flexitarian consumers to opt for low-cost meat rather than pricier plant-based alternatives. But the decline in appeal is not just due to the price; the market’s perceived woke positioning is keeping some vegetarian-curious consumers at bay.

In response, some plant-based meat companies are reworking their communication and branding strategies. One is Impossible Foods, whose CEO Peter McGuiness told Bloomberg: ‘The category in and of itself has done a pretty lousy job of communicating it, and we haven’t done a great job either.’

Despite the slowdown, the global market for meat alternatives is valued at £7bn ($7.9bn, €8.1bn) in 2022, according to Markets and Markets, and brands which focus on understanding local preferences will be more likely to resonate with consumers, as we suggested in our article on how plant-based meat is taking hold in LATAM.