A new wave of creative directors is stepping in at Chanel, Dior, Gucci and other major labels as the US$400 billion luxury fashion industry struggles to rebound from a 2024 downturn. The sector, which had enjoyed a decade of double-digit growth, slumped last year amid weaker consumer spending, rising prices, and global economic uncertainty.
Gucci Bets on Demna as Global Labels Struggle With Declining Sales
With the death of Giorgio Armani adding to industry turbulence, brands are betting on bold new visions to restore momentum during fashion weeks in New York, London, Milan and Paris.
Chanel has tapped Matthieu Blazy, Dior has enlisted Jonathan Anderson, and Gucci looks to Demna to revive its fortunes. Analysts say this season’s catwalks will be critical in determining whether luxury can reconnect with disenchanted shoppers.
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