The growing lifestyle sector including home furnishings and decor continues attracting fashion brands looking to diversify. By becoming lifestyle companies versus just apparel labels, brands can increase customer loyalty and revenue opportunities.
According to Allied Market Research, the home decor market will reach $838 billion by 2027, up from $616 billion in 2019. Consumers now prioritize making their living spaces more comfortable since the pandemic’s lockdowns.
Many brands start by collaborating with lifestyle experts or artists on capsule decor collections to test demand before fully committing. Eventually, lifestyle expansions may include hotels, cafes, and other ventures positioning fashion brands as cultural companies.
Recent moves into home lifestyle include:
– American Vintage’s Mediterranean-inspired launch with aprons, tablecloths and rugs
– Sézane founder Morgane Sézalory relaunching home furnishing brand Les Composantes
– Jacquemus’ furniture collaborations with Exetat and Tekla
– Banana Republic’s bedding, rugs and wall art
– Louis Vuitton’s Shanghai home decor pop-up store
– Dolce & Gabbana’s shimmering “Casa” collection and boutiques
– Mango’s crockery, candles and baskets under new Mango Home range
– Paul Smith’s debut cushions, blankets and towels
– Walmart’s renovations incorporating more fashion/lifestyle
– Vionnet’s joint venture for European luxury lifestyle
As consumer mindsets shift, more fashion brands will likely embrace home decor and lifestyle products as lucrative additions to their core fashion offerings.