Pictet AM's Gillian Diesen: Returns in the new era of inclusive luxury

Broadening audiences

Smooth étoupe calfskin leather, a flap top and an iconic turn-lock closure. The Hermès Birkin has become one of the most luxurious designer handbags of all time since its debut 40 years ago, despite a price tag of at least £9,000 and a lengthy waiting list.

Less long-lasting but equally distinctive, a Rouge Hermès lipstick can be yours for just £60. The Big Question: What is the next ETF megatrend? Inclusive luxury might sound like an oxymoron. Yet affordable ranges are just one of the ways in which the sector is capturing the hearts of the younger generation, broadening its audience and nurturing loyal future customers who will grow with the brand, potentially expanding along its product range over time. The likes of Balenciaga and Miu Miu are introducing more affordable ranges of scarves, accessories and lifestyle goods. Fragrances,...