How Two Millennial Upstarts Are Upending The Luxury Retail Industry

by MR Magazine Staff

A handful of companies control over 75% of the $225 billion luxury fashion industry. These iconic brands, such as Coach, Louis Vuitton, and Gucci, largely prevent upstart rivals from gaining a foothold in the industry through tactics such as blocking their use of key manufacturers to outspending them on advertising. Now, two Millennial fashion designers are upending the fashion industry by breaking through this vast hierarchy.  Both operate off instinctive passion to allow them to push and break boundaries to establish them as the new faces of today’s fashion industry.  Scott Gabrielson came to fashion through tragedy. In 2013, the hedge fund executive was drawn to the industry after hearing about the factory collapse in Bangladesh.  “At this factory we saw cramped female workers, earning $7 a day, gluing and sewing designer bags and accessories. One of the bags, which the brand claimed to produce only in Italy, cost under $100 to make. It sold for over $1,200 just down the road.” Read more at Forbes.