Many brands have noticed conditions worsening in recent months, according to John Ayton from Walpole, an organisation set up to promote British luxury products.
Mr Ayton was speaking ahead of the launch of Walpole’s 2010 ‘Brands of Tomorrow’ initiative, which aims to promote luxury British brands to “become global leaders in their field”.
The selected businesses include a boutique chocolatier, a high-quality bed linen producer and jewellery maker specialising in statement pieces.
“Bling is out,” Mr Ayton said. “People want something that is individual and unique.”
He added that luxury shoppers are increasingly looking for products that are not only well-made but that also have heritage.
What’s more, consumers have become far savvier at finding what they want.
“People are becoming connoisseurs of heritage. They want craftsmanship, history.”
Brands selected to be part of Walpole’s 2010 intake include Rococo Chocolates, Mawi jewellery, Josephine Home, lifestyle brand Wolf & Badger and bathing product firm Abahna.
via Sky News.