The luxury sector is going through a pivotal phase. From watches to whisky, the climate is tense. American consumers of luxury goods are becoming more cautious, and Swiss watch exports are falling again, a sign of weakening global demand.
New players and large groups alike are feeling the effects of this turbulence: Coty is considering a split, Courbet has been liquidated, and Pernod Ricard is rolling out its “Tomorrow 2” reorganization plan. The reorganization aims to simplify its structure and consolidate its brands into two divisions (Gold: whiskey, champagne, cognac; Crystal: vodka, aperitifs) in a context of declining demand. The shake-up will be accompanied by job cuts, particularly in China, and a cost-cutting target of €1 billion by 2029.
The slowdown is confirmed by the latest Bain & Altagamma report, which forecasts a 2-5% decline in the global luxury market in 2025. Since 2022, interactions with traditional brands have fallen sharply: 40% fewer searches, social media following down 90%, and engagement down 40%. The reasons? Weariness with high prices and creativity deemed too timid.
To face these headwinds, brands must rethink their strategies without betraying their identity.
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Luxus Plus was there and has prepared a comprehensive report on the key points to remember. Unsurprisingly, management teams are also changing: Ruth Warder is joining Chanel, Heather Kaminetsky is returning to Net-a-Porter, and Prada’s “brand CEO,” Gianfranco D’Attis, is stepping down at the end of June, to be replaced on an interim basis by Andrea Guerra.
At Kering, Luca de Meo, former CEO of Renault, is taking the reins of the group, illustrating the desire to instill a more structured and industrial vision. This renewal is now complemented by the strategic repositioning of Net-a-Porter, which is taking a new managerial direction online.
As the YNAP (Yoox Net-a-Porter) group restructures to integrate the emerging Mytheresa offering via the “LuxExperience” project, Alison Loehnis, a key figure at Net-a-Porter, left her position at the end of May 2025, paving the way for new leadership. This handover comes after a 15% drop in sales in Q2 2024 and marks a turning point. The group aims to return to profitability by reviewing its operations, business model, and customer experience. The challenge is significant: to revitalize an iconic luxury digital platform in the face of pressure from increasingly competitive online retail.
Creativity is also undergoing change, with new artistic talent being brought in to revive fashion houses. At Dior, Jonathan Anderson has taken over as creative director, embodying a significant stylistic shift. Finally, Francesco Risso is leaving Marni after eight years as creative director, during which he imposed an avant-garde and deeply expressive vision, combining exuberance and deconstruction.
But this week, the luxury industry has shown that its transformation is not limited to the creative renewal of its products: brands are focusing on experience, diversification, and cultural roots (Marni, Dior). However, major fashion houses are seeking new impetus through digital restructuring (Net-a-Porter) and structural reorganization (Pernod Ricard).
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