The 2024 Luxury Report: The Brands, Items, and Trends Defining Designer Fashion

It was the year of elegance and the outfit-defining accessory, whether in the form of a pillbox hat, long leather gloves, or a charm-adorned handbag. The Row's perpetually-sold-out Margaux bag arrived in new silhouettes and reached unprecedented heights of popularity. Alaïa, Chloé, and Bottega Veneta led conversations and shopping buys among It girls. Film and social media celebrities, including Greta Lee and Nara Smith, dominated red carpets and the front rows at fashion month. In 2024, luxury fashion also saw big shifts at the top as creative directors moved to new appointments, including Alessandro Michele at Valentino and Chemena Kamali at Chloé.

To examine luxury fashion in 2024 with a closer lens, we spoke with industry experts and pulled data to take a more granular look back. In Who What Wear's annual Luxury Report, we discuss what resonated most strongly in designer fashion in 2024—including the brands that made a big mark, the impossible-to-track-down It items that dominated style set, and the rising convergence of sports and fashion. Shoppers are drawn to strong points of view from the creative directors at the top, timeless investment buys, and renewed interest in statement-making maximalism, opulence, and individuality. Ahead, read about everything to know in luxury fashion from 2024 and take a look forward to where it's headed in 2025.

This year marked new territory for luxury fashion, and a short list of designer brands claimed the title of most influential. According to a Q3 to Q4 2024 report by Lyst Index, the top designer brands include Miu Miu, Loewe, Prada, Saint Laurent, and Alaïa. Moda Operandi's statistics support these findings and provide further insights into the year's top brands, adding that the highest sales are from Alaïa, Chloé, Miu Miu, and The Row.

Designs on the Chloé runway by Kamali ushered in a new era of bohemian style—influencing the return of flowy chiffon tops and dresses, leather cargo bags, and collar necklaces that have not been seen in the fashion space for many years. Miu Miu continues to set the bar for trends, styling, and some of the most-wanted shopping items, including its popular sneakers in collaboration with New Balance. Erica Wright of Sourcewhere shared that the Miu Miu x New Balance sneakers were one of the most requested styles in 2024. "It's a perfect fusion of high-end and practical that people can't get enough of," she explains. Saint Laurent, yet again, set the tone for sexy, sophisticated style and paved the way for opulent maximalism, which is set to take over in 2025. Alaïa dominated editorial shoots with its directional designs from Pieter Mulier and also carved out a top spot in the accessory space with cult buys, such as the Le Teckel bag. Hermès continues to stay in the lead with pieces that are the height of craftsmanship and quality.

Which items dominated in 2024 from a sales point of view? Luxury product sourcer Gab Waller shares, "2024 has been the year of elevated everyday luxury. The Row's Margaux bag has gained even more traction, becoming a key piece in client wardrobes. Fashion insiders are deeply drawn to The Row and can't get enough. [Ashley and Mary-Kate] Olsen have done a perfect job of blending luxury with a sense of timelessness. In terms of trends, this is only reinforced by '90s minimalism with sleek silhouettes, muted color palettes, and bold accessories."

Another key buy arrived from Alaïa, a brand that has priced its accessories to be competitive in the market. "In 2024, the shoulder bag has had a major comeback, with a clear shift toward the east-west shape," explains Wright. "It started with Alaïa's Le Teckel." This finding is unsurprising, as the popular bag was sold out throughout 2024 and is currently priced at $2450, a relatively low price point for a bag from a designer brand. Other items, from the Prada satin mules to the Bottega Veneta Andiamo bag to the Toteme barn jacket, reached a level of demand that was clear on the street style scene and in social media feeds. Notably, accessories are continuing to win out in the luxury space, but shoppers are willing to invest in versatile outerwear as well.

In recent seasons, we have seen a rising interest in pieces that go beyond trends. These are investment items that are timeless and have the makings of modern heritage pieces. "My biggest takeaway from 2024 is the continued importance of making conscious investments in your wardrobe," Waller shares. "Luxury fashion is choosing to purchase items of high quality that will sustain the test of time." This sentiment is echoed by Wright: "As luxury prices rise, people are moving beyond trends, investing in pieces with real staying power. Sourcing rare, iconic items reflects a shift from impulse buys to intentional, collectible purchases. Consumers are after pieces that go beyond a season and resonate for years." Whether it's an iconic jewelry design like a Bulgari Serpenti bracelet or a modern heirloom piece such as an everyday bag, shoppers have made it clear they are interested in purchasing forever items.

A notable example includes the Margaux bag from The Row, which was first issued as a top-handle bag but is now available in an east-west shape and a clutch. "The Row's move to turn the sold-out Margaux style into an east-west shape further confirms this growing trend. We had requests for the black saddle leather version less than a day after its release and only see the demand growing into 2025," Wright shares. Bottega Veneta, too, continues to release updated versions of its popular Andiamo bag. In 2024, we were introduced to smooth leather versions of the tote as well as an intrecciato clutch style. On the spring 2024 runways, we saw continued investment in the Andiamo bag style with a crocodile-embossed version that is primed to be in demand next year. The Rebecca flats from Loro Piana continue to be tweaked in new iterations, including a slingback and a toe-cap version. Similarly, the Mary Jane ballet flats from Alaïa are taking hold in the shoe space. According to the Lyst Index, the Alaïa ballet flats were the number one hottest product for Q3 to Q4 in 2024, which is significant considering the shoes were first released in 2023. Brands are taking notice of which products drive sales and investing in their design season after season.

Brands with more classic house codes are also picking up steam in fashion. Ralph Lauren has entered the Lyst Index in 14th place for this quarter—heritage and timeless design have become a growing area of interest for shoppers and increased focus on social media content in the fashion space. With front-row guests such as Nara Smith attending its runway shows, Ralph Lauren is increasingly catching the attention of a Gen Z audience. "Gen Z is challenging what luxury fashion means, from what they are buying to how and where designer fashion is purchased," Waller shares. "Their influence is on display via social media, where viral moments from Instagram or TikTok can turn a product into a sellout overnight." This includes brands with as much heritage and history as Ralph Lauren, which is increasingly speaking to a new, younger audience.

As luxury prices have risen across many categories, shoppers have found new ways to enter the designer space. "The rise of little luxuries is largely a response to a more open global market looking to buy into the luxury space," Waller shares. "Accessories and small goods offer access without the hefty price tag of larger investment pieces." This year's style has been marked by this accessory-forward mentality. Bag charms are part of this, but so are outfit-defining accessories like nostalgic pillbox hats, eyeglasses, printed scarves tied on a bag or worn around the neck, and eye-catching hair clips. They're little luxuries that help to finish a look.

It isn't just about the price tag, though. "People are looking for ways to stand out again, to add a personal touch to an item that others might have," Wright explains. "These smaller, expressive pieces offer a sense of individuality in a world that sometimes feels oversaturated, so making a classic item your own—adding something special that lets your personality come through—is something we see people leaning to heavily." Perhaps a precursor to the wave of individuality that we saw on the spring 2025 runways, these accessories are personality pieces that are ushering in a renewed sense of personal style.

It was the year that fashion and sports converged in a new way that couldn't be ignored. It's worth mentioning that fashion and sports have a long history. Just look at brands like Rolex, TAG Heuer, and Ralph Lauren, which have long-standing sponsorships in the sporting world that go back many decades and even a century. Nike, too, fundamentally changed the influence of athletes with endorsement deals after partnering with Michael Jordan on the Air Jordan sneakers. Now, the two industries are comingling in new ways.

The Olympics—for the first time sponsored by LVMH—dominated airwaves and TikTok videos this summer. LVMH also announced a historic 10-year global partnership with Formula One. The sport has also seen the recent involvement of fashion brands, including Rolex, TAG Heuer, and Brunello Cucinelli. For Challengers, JW Anderson oversaw Zendaya's outfits in the film, and her accompanying red carpet press tour looks included designs from Thom Browne, Loewe, and Louis Vuitton. Prada dressed WNBA player Caitlin Clark for her draft signing. Sports superstar Lewis Hamilton inked a guest designer deal with Dior. Gucci is designing products in collaboration with Jannik Sinner, the tennis star ranked by ATP as the number one player in the world. Carlos Alcaraz was pictured wearing a Rolex Cosmograph Daytona in his championship win at Wimbledon.

The merging of sports and fashion is also taking shape on the runways. According to a spring/summer 2025 womenswear report by Karla Otto, a public relations firm and brand-building agency, athletes drove over $7.9M EMV during fashion month for the spring 2025 collections. "This S/S 25 season, athletes took center stage, not just as front-row guests but as key players on the runway," the report identifies. "Olympians like Sunisa Lee, Jordan Chiles, and sprinter Noah Lyles walked for top brands such as Off-White, Tommy Hilfiger, and Brandon Maxwell during New York. Meanwhile, Boss stood out with its innovative casting, featuring athletes like tennis star Matteo Berrettini, fencer Miles Chamley-Watson, and swimmer Nicolò Martinenghi." The growing influence of sports—and sports stars—in fashion is undeniable as the two worlds merge more than ever.

"Elegance" has been one of the biggest fashion buzzwords of 2024. The return of A-line skirts, bouclé jackets, pillbox hats, and elbow-length leather gloves has ushered in a nostalgic sense of elevated and sophisticated dressing that has inspired even the coolest downtown fashion insiders. There is a sense of looking back to the way people used to dress in a bygone time that is really sticking on and off the runways. Whether looking to red carpet looks of Greta Lee, the Paris Fashion Week outfits of Kendall Jenner, or the runway style at brands such as Marc Jacobs, there is a through line of elegance that is undeniable.

This mentality influenced shopping buys across all categories but also resurrected leather gloves in a major way. "Gloves became this [year's] standout accessory. Miu Miu's black croc gloves set the tone in both the long and short versions, and other brands like Bottega Veneta followed with their ostrich designs in olive green, which sold out quickly," Wright shares.

Shake-ups at the top of some of the major fashion houses will shape where fashion is headed. In 2024, Michele took the helm at Valentino, while Kamali stepped into the creative director role at Chloé. There are also more changes to come in 2025, which has the fashion industry buzzing. Some appointments have already been announced, including Sarah Burton at Givenchy, Peter Copping at Lanvin, and Michael Rider at Celine. Others have yet to be announced, including where Hedi Slimane, John Galliano, Pierpaolo Piccioli, and Kim Jones will land. One thing is certain, however: The changing of the guard at major fashion houses is set to have a big impact on creative ideas at the top and the direction style will take in 2025.

This is something that shoppers are tuned into, and it is shaping both their allegiance to brands and what they are (or aren't) buying. "Our clients are incredibly well-versed in the creative director shifts at the luxury houses. A logo or brand name has not been able to carry a legacy business—our shopper needs to see creative ingenuity," shares April Hennig, Moda Operandi's chief merchandising and marketing officer. Clients are specifically interested in brands and designers that have something to say. "I think Valentino will have a major year along with brands with a distinct point of view, like Chloé, Alaïa, and The Row," Hennig continues.

Another element at play is how to make the shopping experience more tailored and special. "I believe there will be an increased focus on personalization as a key element of the luxury experience. Higher-spend clients are looking for a specific tailored experience, while there will continue to be a demand in interest of luxury goods from the market at large," Waller notes. "Luxury fashion will need to meet these opposing demands in creative and unique ways. Fashion sourcing will continue to address this need and bridge the gap between luxury brands and end customers." Moda Operandi is also making the shopping experience more personalized. "At Moda, we will be expanding our personal styling program, where we offer high-touch services to our top clients and doing more exclusive in-person events in regional markets for this customer segment with the world's best luxury brands," Hennig shares.

Beyond the business behind fashion, some growing trends are set to impact 2025. The last several years have been heavily influenced by pared-back, simple style, but the pendulum is swinging in the other direction. "We're sensing a vibe shift: Our clients are moving away from minimalism and quiet luxury," Hennig explains. This mirrors some of the predictions we have made based on the spring 2025 collections, in which maximalism, opulence, and individuality prevailed.

This story was published at an earlier date and has since been updated.