We’re in a unique state when it comes to luxury fashion. On the one hand, luxury brands and clothing are very much alive, well, and prospering. On the other hand, it’s dead. Literally. During the course of the pandemic, we’ve unfortunately had some brands suffering, especially locally with business revenue down and shops closing—including a lot of designer stores in NYC. And it’s not particularly surprising either. We’re coming from a pandemic where many lost their jobs, inflation is a problem, and let’s not even get into these gas prices over the past few months.
Many people just don’t have the money for luxury anymore, but like we said in the beginning, there’s still very much a group that can afford it, or make room for it. In fact, according to an article from Fashion Network, Hermes reported that they’re making money from their most expensive products and expect to continue to do so.
The article also pointed out that millions of wealthier consumers are still sitting on a cushion of savings built up during the COVID-19 pandemic, and now are eager to spend with “outside opening back up.” Makes sense when you think about it from that perspective.
So now that we know there’s a group that fits in the latter half purchasing luxury, we figured we would round up a list of the best designer shops in NYC. Perfect timing since we are now just a little over a month away from the city being on fire for New York Fashion Week. We’ve got a list of eleven great designer stores in NYC, which you can check out below.