Gucci is one of the latest fashion brands to see dollar signs in the pet clothing business.
People might cut spending these days, but the data suggests that pets will convince those who love them to cough up the cash. Purchases of pet supplies on Afterpay are up 1,085% from a year ago, the “modern layaway” company found last month. The four-way payment platform also documented a 21% increase in pet accessory sales year-over-year, suggesting that consumers are still spoiling the pets in their lives, even whether they have to spread their payments to do so.
However, those shopping for the new Gucci Pet collection probably aren’t worried about the cost (although the Kering-owned brand is working with alternative lending provider Affirm). A wool and mohair strawberry hat from the cat and dog clothing and accessories line sells for $460, while a geometric logo cotton t-shirt costs $330. The pet beds offered in four prints cost $7,500. Sweaters, coats, leashes, harnesses, collars, bag holders, Air Tag holsters, feeding bowls, bells, coordinating feeding mats and a set of travel bowls, complete with carrying case, round out the full collection.
Gucci Pet maintains the brand’s efforts to source responsible materials. The collection includes recycled cotton and Demetra, an exclusive textile material made from vegan, mainly renewable and bio-based sources.
Similar to Gucci, pet brand Dogily recently launched its first collection of matching silk bandanas for people and dogs. The collection includes three different designs of hair scarves, scrunchies and square scarves named “Tyra”, “Serene” and “Collins”.
“As dog lovers, we were tired of seeing the same cheap, low-end quality pet accessories that didn’t make us or our dog look or feel good. We want to allow people to see pet accessories differently as something that can be high quality and stylish,” said Cindy LeeMarketing Director of Dogily.
The pet clothing industry is on track to reach $7 billion by 2028, according to Fortune Business Insights. Consumers have long shown a willingness to spend more and opt for more expensive products when it comes to their pets, according to Lauren DeVestern, managing director and partner at LEK Consulting, which helps pet brands , retailers, service providers, distributors and investors. examine the micro and macro trends that are fueling spending growth in various sectors.
In the United States, people adopted pets in the blink of an eye during the Covid pandemic, when stay-at-home lifestyles took hold and many sought ways to combat the sudden separation from their usual social routines. It was one of the biggest trends responsible for the rise of the pet products industry. New pandemic pet owners tend to be younger, wealthier and more likely to invest in their furry person’s wardrobe.
But the pandemic is not the only trend responsible for this surge. DeVestern says people are harboring increasingly “human” feelings for their pets, which is part of what drives heavy spending on clothing and accessories for their trusted companions.
Brand licensing trends are also playing a role, giving fashion brands access to the lucrative pet market and the possibility of greater exposure.
“I think some manufacturers are looking for these partnerships, and so you see the crossover [between consumer] brands and brands from other industries entering the pet market in this space. I think another trend could be that pet products, including these types of apparel and other accessories, are being sold more and more in more stores and retail channels,” he said. said DeVestern.