Struggling luxury brands want catwalk boost in Milan and Paris
Glitzy runway shows by the world’s biggest fashion brands in Milan and Paris mask a worrying picture for luxury executives behind the scenes: a slowdown that appears to be getting worse as war in the Middle East rages.
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Video Summary
AI GeneratedDespite the glamour of Milan and Paris Fashion Weeks, the luxury sector is facing a significant downturn. Geopolitical instability in the Middle East and economic pressures like inflation are reducing sales. Major brands are struggling with declining share prices and a shrinking customer base due to aggressive price hikes and a shift toward ultra-wealthy clientele.
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