LSN : News : Stat: Global luxury market performs well despite economic uncertainty

Pantone’s creative take on the LGBTQ+ flag for the World Cup

Colors of Love by Pantone, US

Qatar – In light of the controversy-ridden FIFA World Cup in Qatar, Pantone has created an all-white alteration to the LGBTQ+ rainbow flag, where Pantone colour codes hint at the actual hues.

Qatar’s controversial ban on public demonstrations of homosexuality means that LGBTQ+ flags are not permitted on the pitch. In response, Pantone collaborated with NGO Stop Homophobie and creative agency TBWA Paris in the run-up to the World Cup to design a revised flag entitled Colors of Love.

The altered version is stripped down from its recognisable bright colours, replaced by Pantone colour codes written on a white background. Those who wish to promote pride and inclusion – and show disapproval of homophobic laws – can safely wave the updated flag.

Sidestepping the rules without breaking them, Pantone’s creative initiative is an instance of Graphic Activism, enabling fans to display support for the LGBTQ+ community without risking sanctions.

Strategic opportunity

Pantone’s bold initiative demonstrates how businesses can show solidarity with their communities in the face of adversity and controversy.

Managing incomplete pregnancies with care-full products

US – Baby and pregnancy product company Frida has launched a Recovery Kit for Incomplete Pregnancies, which highlights the often-muted experience surrounding miscarriage and abortion.

The kit is filled with existing products from the Frida range, including a peri bottle for internal cleansing and disposable underwear – all packaged simply and sensitively. Chelsea Hirschhorn, Frida’s president and CEO, says: ‘We felt it was important to address this isolating and physically challenging time in a woman’s life with the same thoughtfulness and sensitivity that we do for women who leave a hospital with a baby.’

The kit is a subtle recognition that the experience of incomplete pregnancies has become more lonely and isolating for women as a result of the US Supreme Court’s overturning of Roe versus Wade and individual US states’ subsequent abortion restrictions. According to the Guttmacher Institute for sexual health and reproductive rights, an increasing number of the roughly one million abortions taking place in the US every year are the result of ‘medication abortions’ using pills at home rather than in a clinical setting.

Read more about products and services catering for women’s health in our Tech-powered Perimenopause microtrend and Perimenopause Wellness Market.

Frida Recovery Kit for Incomplete Pregnancies, US

Strategic opportunity

Explore how existing products and services can be geared towards those life events and life stages that offer opportunities for more care-full approaches – and which would also benefit from more open discussion.

Stat: Global luxury market performs well despite economic uncertainty

Moving Brands, UK

Global – According to Bain & Co and Altagamma’s Luxury Study, the sector is set to be better equipped to cope with recession next year than it was during the 2009 global financial crisis.

The report suggests that the global luxury market is more resilient mainly thanks to a larger and more global consumer base, a multi-touchpoint eco-system and a more customer-centric approach that contributes to stronger brand loyalty, even in crises. The study also reveals that the luxury market generated positive growth for 95% of brands in 2022, further showing the strength of the sector.

Looking forward, Bain & Co experts advise luxury brands to focus on developing ESG commitments, creativity chain, data and cultural leadership. ‘In their path to 2030, luxury brands will need to leverage their cultural avant-garde position and insurgent excellence,’ says Federica Levato, partner at Bain & Co and co-author of the report.

The current strength of the industry and hopeful predictions suggest that the era of Guilded Luxury has the potential to prevail in recession.