In 2022, the luxury sector faced major challenges, including rapid inflation and slowing economic growth. This was exacerbated by the return to China’s strict Covid lockdowns and the outbreak war in Ukraine. Despite these headwinds, sales are still strong and rising. 22 percentThis year as a post Covid “YOLO” attitude prevailed.
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Each of the most powerful brands found their own way into exploding consumer demands. ChanelThey are focused on winning their hearts. highest-spending customersWhile the likes Saint LaurentAnd JacquemusCombining runway excitement with smart price points, a seasonless approach, and smart price points, this combination was a winning combination. Others updated their strategies, including major online retailers. merged with rivalsOr added e-concessionsGucci, the luxury brand and luxury retailer, has repositioned their commercial offer and taken steps towards a new model. major creative shift.
Going into 2023, luxury’s rapid growth is expected to slowThere are concerns about how the sector will adapt, and this is causing concern.
Why Gucci Wanted a Change — And What’s Next: The market is still digesting Gucci’s move to part ways with Alessandro Michele. A slowdown at Kering’s flagship brand was complicating the company’s wider ambitions, but change comes with risk as well as potential reward.
Inside the $7 Billion Dior Phenomenon | Download the Case StudyHow did a 75 year-old brand triple its revenues within four years? Christian Dior Couture transformed itself into a global brand by revising its commercial offer, moving into ecommerce and investing heavily in flagships. “a homegrown Chanel challenger within LVMH.”
How Saint Laurent Became a $3 Billion PowerhouseFrancesca Bellettini is the chief executive of the company. She explains how she collaborated with Anthony Vaccarello to increase sales by doubling in five years. This was based on a more Parisian-inspired approach to merchandising, seasonless merchandising, and a rapid expansion into leather goods.
Jacquemus: A Fashion Star’s Business Vision: For the first-time, the industry’s hottest independent designer — a charismatic, social-media savvy storyteller from the south of France — reveals the financial underpinnings of his burgeoning company and plans for the next phase of growth.
Giorgio Armani: Lion in Winter: Fashion’s most successful designer is finally in touch with his tender side after a career driven by perpetual dissatisfaction. In an exclusive interview, the designer reflects on his life as well as his succession plan.
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The Nine Lives of Proenza Schouler: What happened the most promising brand in American Fashion?
Richemont, Farfetch and YNAP: Understanding a Transformational E-Commerce Deal: Yoox Net-a-Porter, a Swiss luxury group, is being spun out in a joint venture by Farfetch and Faremont. What does this mean for Richemont and Farfetch, YNAP, and the entire luxury industry? BoF explains the deal.
The Pivot to E-Concessions Is Reshaping Online Luxury: Top luxury brands are pulling back from wholesale. E-tailers like Mytheresa and Matchesfashion are adding online concessions to their business models instead of losing access to Gucci loafers or Balenciaga hoodies.