The €340 billion luxury market shrank in 2024, breaking more than ten years of steady growth. Around 50 million clients are thought to have stepped back, driven by price fatigue and an uncertain global economy. The passing of Giorgio Armani at 91 comes at a delicate moment, highlighting not only questions over the future of his house but also the broader importance of leadership and creative continuity in sustaining brand value, profitability, and margins.

In response, major groups are reshaping internally—appointing new creative leads at Chanel, Dior, and Gucci—while tightening retail strategy and pricing discipline to win back consumers. The upcoming fashion weeks—New York on 11 September, followed by London (18 September), Milan (23 September), and Paris (29 September)—will act as a litmus test of how well maisons can revive desire and rebuild scale without losing their identity.

Amid global uncertainty, China remains the industry’s key stabilizer, though recovery there is still uneven, weighed down by real estate weakness and trade frictions with the US.

This context underscores why Luxurynsight exists: to transform intuition into sharper decisions through data-driven intelligence. From capturing real-time signals and modeling category pricing to fine-tuning client and regional mixes—especially with China in focus—and tracking retail performance market by market, our mission is clear.

We are grateful to Mimosa Spencer for showcasing Luxurynsight’s perspective.