Episode
What's Really Happening in Luxury Right Now
- Published
- May 15, 2026
- Duration seconds
- 4548
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- https://shows.acast.com/the-business-of-fashion-podcast/episodes/6a074ff63fd6979bfc82598d
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Summary
For the global luxury industry, the last two years have been defined by a prolonged period of meagre growth, macro-uncertainty, and a slow recovery in the critical Chinese market. But as we move further into 2026, the strategic imperative has shifted. It is no longer enough to simply wait for the cycle to turn; leadership now requires navigating a rapidly-changing environment where geopolitical volatility and technological disruption have become the baseline. In this episode of The BoF Podcast, Jonathan Wingfield, editor-in-chief of System Magazine joins Imran Amed and Luca Solca , managing director and global head of luxury goods at Bernstein , for their regular seasonal conversation on the state of the industry. They analyse this new industry paradigm through two distinct lenses: the clinical, data-driven reality of the equity markets, and the visceral, creative pulse of culture. They examining the collapse of the old narrative within luxury, why brand heat has become a lazy currency, and why the real threat of AI isn't the technology itself, but the professionals who master it first. Key Insights: The luxury recovery of early 2026 has been derailed by yet another geopolitical shock. The first months of the year saw cautious improvement, but the Third Gulf War stopped it cold — LVMH reported Q1 revenues down six percent, with the conflict costing a full percentage point of organic growth. As Amed notes, these disruptions used to come once a decade. Now they arrive in rapid succession, making "grand narratives" about industry trajectory almost meaningless. AI is quietly transforming fashion's cost base. Brands are using AI to generate ecommerce imagery at a fraction of historical costs, but almost no company will confirm its savings on the record. Gucci faced ba…