BoF is away for its annual break until 2nd January. In the meantime, we invite you to explore highlights of our news and analysis from the year.
WHAT YOU NEED TO KNOW TODAY: MONDAY, DECEMBER 30, 2024 | | | Dear BoF Community,
Luxury brands found themselves under pressure this year. Shifting priorities, slowing economies — particularly in China — fatigue with luxury brands and frustration with soaring prices all played a part. The exposure of abusive practices in several brands' Italian supply chains dealt a further blow to luxury's prestige.
Brands updated their aesthetics (or prepared to) in a bid to jump-start demand: From Chanel to Valentino, Fendi, Givenchy and McQueen, companies reshuffled their creative lineups this year.
But the struggles faced by Gucci and Burberry as they sought to build momentum around new aesthetics shows how tricky executing a designer relaunch can be. As the year ends, dive into BoF's in-depth conversations with leaders in creativity and business, whose vision shaped fashion in 2024 and for the years to come: Alessandro Michele, Nadège Vanhee, Bruno Pavlovsky, Francesca Bellettini, Jun Takahashi and more.
Thank you for staying engaged with BoF during a year packed with news and changes for luxury. We look forward to finding you in the New Year.
Robert Williams, Luxury Editor |
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| | By Robert Williams and Simone Stern Carbone |
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| The State of Fashion 2025 by McKinsey & Company and BoF Insights | Fashion executives are feeling pessimistic about 2025. A long-expected post-Covid spending slowdown has arrived, while geopolitical tensions remain high. But there are still pockets of opportunity in promising new markets, in underserved customer groups and at new frontiers in customer experience, powered by artificial intelligence. Download The State of Fashion 2025 now to explore the 10 themes that will define the industry in the year ahead. | | |
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