Forget “dada” — the hot new first word for today’s babies is “Dior.”
Just kidding (kind of), but the baby industry is having a moment with luxury goods.
Analysts predict global sales of designer childrenswear will reach $8.4B this year, per The Guardian.
And these pint-sized presents come with price tags that could make a grown adult cry:
- Dior just launched a baby cosmetics line that includes $230 “scented water,” $115 baby moisturizer, and $95 cleansing foam, all of which can be packed in the brand’s $3.3k changing bag.
- Fendi sells a nursery staple, the humble teddy bear, for a cool $15.5k.
- Gucci makes a teeny-tiny version of its signature leather sneaker for the not-so-small price of $310.
Plus, it seems, nearly every other designer brand has some products for your little one.
The idea isn’t exactly new: Tiffany & Co. has long offered everything from rattles to literal silver spoons for pampered baby mouths.
But little products could mean big business
Social media has influenced parents — millennials in particular — to spend big on making sure their babies are picture-perfect for the Instagram grid.
- The “mini-me” trend — where kids wear matching, mini versions of their parents’ outfits — has taken off with celebrities and young, trendy parents, giving fashion brands a chance to hold on to their loyal customers.
Brands are hungry to attract new customers as the luxury slowdown continues, with baby products offering yet another touchpoint to consumer credit cards.
Plus, interest in luxury brands is starting younger than ever, with millennials and Gen Zers expected to account for as much as 70% of the global luxury market by 2025.
So, it only makes sense for brands to start targeting the youngest new customers right now.