Who Benefits: Luxury Houses vs. Small Brands

Colourful charms, Labubu-laden handbags and a ring on every finger – accessories sales are booming. A surge of necklace stacks, playful rings and quirky charms is being driven by Gen Z’s push for personal style, using add-ons to customise minimalist wardrobes on a budget. With apparel prices up, accessories act as “little luxuries” and entry points into brands. Retail is responding, with buyers widening small-leather-goods assortments and e-commerce shoots now styling bags with charms to encourage add-on purchases. 

BoF reporter Diana Pearl joins The Debrief to unpack what’s fuelling the accessory pile-on, how labels are capitalising on it, and how far the trend can go before the cycle turns.  

Key Insights: 

• According to Pearl, Gen Z is reaching for accessories as a way to personalise their minimalist wardrobes. “Gen Z, which is really looking to define their sense of personal style, is leaning on accessories to do so, especially because minimalism in clothing is still very popular… but they also wanna have a little more fun and accessories are a way to do that,” she says. Regarding the longevity of this trend, Pearl adds, “I think we'll see a consumer that is primed to think of accessories as a more important part of their wardrobe – not just like a finishing touch, but a core element of it.”

• The Labubu craze captures the mood of the accessories trend – playful, collective and endlessly customisable. “There’s so many different Labubus. There’s a bit of that thrill of the hunt to try to find the right one. You can add it to an Hermès bag or a $100 leather tote from J. Crew,” says Pearl. For many shoppers, she says, “it really speaks to that desire for fun and adding a personal touch. People want things that make them feel good.”

• While luxury houses profit from entry-level add-ons, Pearl sees independent makers riding the wave. “I think it probably is helping luxury brands but I think even more than that, it’s helping small brands that really can make these cute accessories that feel distinct and different from what everyone else has, because I think a huge part of this is that quest for personal style, wanting something unique,” says Pearl. 

• Pearl frames the moment as a behavioural shift rather than a transient trend. She argues, “trends go away, but they never fully go away. I think every trend leaves a lasting impact or impression on us.  Maybe Labubus, toe rings, and bag charms won’t be quite as popular, but maybe they’ll evolve.” Crucially, “I think that this has unlocked something in people… it will have a lasting after effects of this trend, even if not everybody is wearing five necklaces at once in a year from now.”

Additional Resources:

• How Far Can Fashion’s Accessory Obsession Go? | BoF 
• Why Jewellery Feels Like a Better Deal Than a Handbag | BoF
• Luxury’s Untapped Opportunity in Men’s Jewellery | BoF

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