Despite the cost of living crisis in the UK and economic uncertainties worldwide, affluent consumers are continuing to spend in the booming global luxury market, which is expected to reach a staggering US $254.80bn in revenue in 2023, with luxury fashion being the best-performing segment at an estimated US $111.50bn annually. As a result, new luxury brands are emerging, eager to establish themselves among the established elite brands and capture a permanent share of the market.