Luxury’s next frontier: young urban males

High-end fashion labels like Burberry and Coach are branching out to a new demographic: young urban males, says Bloomberg.

Three researchers at HSBC say young urban males (which they dub “YUMmies”) are the future of retail.

Read: Fun investment for wealthy clients

“The metro-sexual…is now becoming a commercial reality,” writes HSBC.

While anyone who lived through the 1980s may yawn at the idea of men buying luxury brands, the analysts say they’re not just looking for a fast car any more. It’s Prada wallets and driving moccasins now, says Bloomberg.

Because these men are marrying later, they have more disposable income in their youth. The Internet has also made it easier for those outside of traditional fashion hubs like New York and London to buy into trends.

Read more here.

Also read:

Will you pay for privacy?

Vancouver gets buy-one-give-one condos

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.