As I’m based in Paris and work in the tech ecosystem, there is a lot of chatter about luxury brands and their future. Paris is still the city of outrageously beautiful goods and clothes from powerful brands. Luxury shops are still crowded with countless of tourists. Yet, when I talk with people around me, it has become much more trendy to find a new up and coming brand before anyone else that manufactures quality products — maybe it’s a sign that the hipster culture is becoming mainstream, maybe not. But it is certainly a sign that there is an opportunity for new luxury startups.
 
For example, Dymant is a French startup that works with luxury craftsmen to design, produce and sell limited edition objects to a demanding clientele. Late last year, its co-founder and CEO David Alexandre Klingbeil asked me a hypothetical question — “what do you give your wife when she already has three Hermès handbags?”
 
I still don’t have a good answer to this question, but I know for sure that buying a handbag that is clearly identified with its brand feels tacky to me — I don’t want to give a bag as a present that has the louis vuitton outlet initials all over it.
 
Knowing all this, I believe there are opportunities for luxury startups. These days, it has never been easier to start these startups. They can opt for a very lean manufacturing process to scale much more quickly than a traditional company who manufactures everything. They don’t need a big marketing team. For example, Everlane has managed to attract hundreds of thousands of customers in the U.S. in only a few years.
 
Everlane clothes and accessories are reasonably priced, but more importantly, they don’t scream Everlane. That’s probably why I find them much more attractive than traditional luxury goods.
 
I believe that, at a larger scale, that the authority of well-established brands is fading away — and it is especially true for brands who sell high-end products.