New Luxury Millennials: Update

New Luxury Millennials (NLMs), the well-heeled, high-spending branch of the collaborative, creative, entrepreneurial Millennials, are rapidly becoming the prime focus of the luxury industry as brands look to a new generation to drive growth. While the global economic crisis has blighted the prospects of many Millennials in western markets in recent years, a significant sub-group has remained remarkably resilient thanks to their wealthy parents.

By Thomas Rees and Lucie Greene