Beyond the glitz of New York Fashion Week (NYFW), the luxury industry is preparing for a complex 2025. McKinsey's new report warns of macroeconomic headwinds, shifting customer preferences, and a deteriorating value proposition. “The luxury industry is facing a significant slowdown that has hit even top brands hard, not dissimilar to what the broader fashion industry is experiencing,” write McKinsey’s Anita Balchandani, Gemma D’Auria, Joëlle Grunberg, and coauthors. As NYFW continues, download the full 53-page report on the state of luxury, explore these luxury-related insights, and join two upcoming webinars to further the conversation.
The State of Luxury: How to navigate a slowdown
At a crossroads: New York’s status as a global fashion capital
In fine jewelry and watches, sustainability shines through
Beyond ‘quiet luxury’: Brunello Cucinelli’s billion-dollar growth formula
‘Let’s not just rely on data’: Holt Renfrew’s Anne Pitcher on the future of retail