McKinsey: Spain must find its own definition of luxury
Gemma D’Auria, Global Co-responsible for textiles, fashion and luxury at McKinsey, considers it key to decide as a country what you want to represent in the sector, at a time of great challenges.
Gemma D'Auria, global co-leader of textile, fashion, and luxury at McKinsey, describes the current state of the luxury industry as a "perfect storm." The industry faces challenges such as adapting to a changing geopolitical context, meeting shifting consumer demands, and remaining relevant and desirable. The sector has seen significant price increases over the past five years, but D'Auria believes future price hikes will be more moderate, at a rate of 2-5%.
She also notes that clients, particularly those who spend between €5,000 and €50,000 annually, are becoming more cautious and are seeking alternative channels, such as resale.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
