Bain annual luxury report: in 2 years (2022–2024) the global market lost about 12.5% of customers, shrinking 400m to ~350m.

50%+ of consumers say luxury brands are overpriced. But it's not just about the price, there's disconnection from brand essence, limited personalisation and conservative product focus.

https://shorturl.at/IdwsF

The intersection of technology and brand strategy is the key differentiator in today's market.

A luxury fashion platform that spent millions on AI, saw customer engagement decline 23% because the technology felt completely disconnected from their brand identity.

Luxury brands that align their technology with their core identity see a 56% increase in customer lifetime value. It's not just about having the latest tech, it's about using it meaningfully.

Our inaugural episode examines the commonalities of the very few 2024 luxury fashion winners amidst otherwise disastrous financial results.

The rate of revenue growth expected by the market is extremely difficult to achieve. Price increases worked for a while, but by now even the wealthy got tired of being milked. What could the purveyors of luxury do next?

Deck referenced: https://bit.ly/LuxuryOfOpinion