Has luxury finally come back down to earth? That’s the suggestion from a study conducted by Luxurynsight and LY Watch (Heuritech) for the first half of 2025. Spanning more than 100 brands and over 10,000 activations, the analysis highlights that luxury is facing its first global slowdown in several years, amid a tougher economic backdrop, the merry-go-round of creative directors, and the rise of new technologies.

The luxury personal goods market contracted by 1% in 2024, to 364 billion euros, under pressure from a weaker macroeconomic environment, new US tariff policies, and more cautious consumer spending. This period has forced brands into a profound strategic reorientation, favouring quality over quantity, localisation over globalisation, and experience over product alone. Several ma

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