The luxury industry has spent the past year debating whether the market is in decline. In this first episode of The Luxury Brief, Audrey Giner breaks down what the data actually shows — and why the real story is far more interesting than a simple slowdown.

In this episode:
• Why personal luxury goods stabilised at €358 billion in 2025 — and what that really means
• The three signals that reveal the true structural shift in luxury
• Why the aspirational buyer has retreated — and who has taken their place
• What the experience economy means for luxury brands right now
• Why Dubai is the sharpest lens for understanding where luxury is going globally

Referenced data: Bain & Company / Fondazione Altagamma — Luxury Goods Worldwide Market Study 2025

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