2026: The Great Luxury Reset - 7 truths confirmed byMcKinsey & Company#StateofFashion2026,The Business of Fashion, and my week at#BofVOICES

Truth 1

#Luxuryisn’t in demand crisis — it’s in a belief crisis.

Prices up +32% since 2019.

Perceived quality down –18%.

61% say brands “don’t justify their price.” (The Business of FashionxLyst)

Hermèsis perhaps the... See more

To understand Khaite, you’ve got to view it like a merchant. (I liked the pin-tucked gazar dresses; they reminded me of this Marc Jacobs look from his Spring 1998 collection.) Holstein is very much in touch with what women with money want to wear. When I saw Yael Aflalo , founder of Reformation—another Stripes investment, which turned out very well... See more

Each year, new products account for approximately 15 % of LVMH sales, and some of them enjoy operating margins of up to 47 % . (For a list of the company’s brands, see the exhibit “The House of Arnault.”) What makes these statistics all the more remarkable is that many of these products at first appear utterly outlandish—a kidney-shaped handbag... See more