Is the Party Over? Luxury Confronts Its Worst Dip in 15 Years

The global luxury industry is entering a more turbulent chapter.

Economic headwinds, cultural shifts and weakening consumer sentiment are driving what may become the sector’s first prolonged slowdown since the 2008 financial crisis, excluding the temporary disruption of the pandemic.

Luxury spending, traditionally sensitive to uncertainty, is under pressure from geopolitical instability, market volatility and evolving consumer priorities.