Explore our library, where insights, press articles, and events are organized by tags, making it easy to find relevant topics.

Select one or multiple tags:

  • white paper February 2025

    HindSIGHT report No 1

    Over the past 25 years, the fashion and luxury industry has created significant value, reflected in the massive personal wealth amassed by its super-winners. Using Forbes data as a proxy, the industry now ranks as the third-largest wealth creator, behind technology and finance. Yet, much like the rapidly evolving fashion landscape, the list of billionaires and their net worth is also undergoing a dynamic redistribution. Examining the patterns of wealth creation within the fashion and luxury industry offers inSIGHTS not only into this industry’s evolution over time and its current state, but also into where it may be headed next.

    (Released on February 28, 2025)

  • linkedin

    Interview #10 - James Fallon; Chief Content Officer, WWD

    The CELEBRATIZATION of #Fashion and Why the US is a Graveyard for European Brands ... … was at the heart of my recent conversation with James Fallon Editorial Director of WWD and Chief Content Officer of Fairchild Media Group, in his office on 5th Avenue. James is a legend in the fashion media industry, with an impressive 45-year career at Fairchild Media. He oversees editorial content across iconic brands like WWD Beauty Inc, Sourcing Journal, Footwear News, and Fairchild Live Media. Having spent 20 years as Fairchild’s London bureau chief before relocating to New York in 2001, James has developed a deep understanding of both the European and U.S. markets, making his perspective on their intersections and contrasts invaluable.
  • press December 2024

    Luxury and Fast Fashions Are Creating Billionaires Galore

    WWD by Miles Socha

    Achim talks to WWD about our research on the fashion and luxury industry’s wealth creation.
    Fashion and luxury billionaires, led by LVMH’s Bernard Arnault and Inditex’s Amancio Ortega, have solidified their wealth despite global crises and a pandemic, with fashion and luxury ranking as the third-largest wealth-creatingindustry after technology and finance. The analysis highlights the polarizationin the industry, where luxury and value players dominate, while the mid-market struggles. It also showcases a dominance of European-based billionaires that account for 81% of the sector’s net worth. Looking forward, business model innovations, such as Inditex’s agility and Shein’s direct-to-consumer approach,coupled with the growing middle-class worldwide, suggest a resilient and prosperous future for fashion and luxury.

  • linkedin

    Interview #9 - Jörgen Andersson; Global Creative Director, H...

    Why Fashion Needs to Move from “Albums to Playlists” ... … was just one of the many fascinating topics I discussed with Jörgen Andersson , Global Creative Director at H&M during my recent visit to Stockholm. Jörgen is a true industry veteran who began his career as a business controller at H&M in 1990. Over two decades, he held key roles in product, marketing, and brand development. In 2010, he joined Esprit as Director of Brand and New Business, later becoming Global Co-Chief Marketing Officer at UNIQLO and Fast Retailing in London. For the last decade, he’s been active in Stockholm’s fashion and beauty start-up scene and contributed his expertise to boards like , Filippa K and the H&M Foundation.
  • event January 2025

    Barcelona Fashion Summit 2025

    Achim Berg holds the opening keynote at the Barcelona Fashion Summit 2025, Spain’s largest fashion business event. Under the theme "Revolution: Breaking Fashion Paradigms", it will gather industry leaders to discuss transformative trends shaping fashion's future.

  • linkedin

    Interview #8 - Helena Helmersson; Chairperson Circulose

    Why #Sustainability is the Next Wave of #Disruption in the #Fashion Industry During my recent visit to Stockholm, I had the pleasure of sitting down with Helena Helmersson for a thought-provoking conversation on the future of sustainability in fashion. Helena’s new role as Chairperson of Circulose, a leading Nordic recycling innovator, made this a natural focal point for our discussion.
  • linkedin

    Interview #1 - Vanessa Friedman; Fashion Director & Chief Fa...

    Why Luxury Goods Companies Should Take Back Their Products and the Addiction to Consumption These were just a few of the topics I discussed recently with Vanessa Friedman Fashion Director and Chief Fashion Critic at The New York Times. Vanessa and I first met 15 years ago when she was the inaugural Fashion Editor at The Financial Times. It was then that we began the partnership between McKinsey & Company and the FT’s Business of Luxury Summit Series. I fondly remember events like the one in Marrakech, where I had the privilege of moderating a panel with Moncler‘s Remo Ruffini.
  • linkedin

    Interview #3 - Colin Browne; CEO, Cascale

    How #Apparel #Sourcing Has Changed — and Why #Sustainability Is an #Operational #Imperative These were the core themes of my recent conversation with Colin Browne CEO of Cascale (formerly the Sustainable Apparel Coalition or SAC). Colin is a true industry veteran, starting his career as a buying and sourcing manager in Asia in the late ‘80s. I first met him about ten years ago in Hong Kong during his tenure as VP and Managing Director of Asia Sourcing at VF Corporation Corporation , where he was a key architect of supply chain strategy in the apparel industry.
  • linkedin

    Interview #2 - Max Bittner; CEO, Vestiaire Collective

    #Luxury E-commerce’s Perfect Storm and the Future of #Resale These were the key themes of my recent conversation with Maximilian Bittner during our meeting in hashtag#NewYorkCity. Max began his career at McKinsey & Company before founding and leading Lazada Group in Singapore. In 2019, he joined Vestiaire Collective as an investor, CEO, and Chairman, recognizing a massive scalability opportunity in the luxury resale market.
  • linkedin

    Interview #17 - Eric Liu; Founder & CEO Style3D

    Is the Fashion Industry Having Its #TESLA Moment? That was at the heart of my conversation with Eric LIU, founder and CEO of Style3D. Eric is a true pioneer, driving the digital transformation of fashion’s back-end processes. With over 20 years of experience, he founded Style3D in 2015, blending his expertise in computer science with hands-on experience in apparel manufacturing.
  • press October 2024

    “Size is not in itself a guarantee for success”

    Modaes.com by Pilar Riaño

    In an interview with Pilar Riaño from Modaes, Achim delves into the future of the fashion industry.

    He explains how SHEIN is disrupting fashion, similar to Inditex in the past, shaking up established business models. He also highlights the urgent need for regulators to step up, enforce sustainability standards and create a framework that holds fast fashion players accountable. He goes on to emphasize the importance of technological advances to make circularity a viable reality for the industry. Further, Achim addresses the growing polarization within the sector, where size increasingly matters and small brands are struggling to compete. Amidst this, he asserts that novelty and creativity remain crucial, ensuring cultural relevance and connecting brands with evolving consumer desires.

  • press October 2024

    Giorgio Armani- L’uomo, il marchio, l’azienda

    Book by Frank Pagano and Marco DiDio Roccazzella

    Achim pays tribute to Giorgio Armani in the afterword of the book "Giorgio Armani - L'uomo, ilmarchio, l'azienda" by Frank Pagano and Marco Di Dio Roccazzella, published by Il Sole 24 Ore in October 2024.

    Achim honors Armani’s keen ability to consistently deliver distinctiveness and timelessness—kept at the core of everything he did—over five decades in business. Armani parlayed his signature aesthetic and his distinctive vision for lifestyle into a thriving brand, growing it into a multi-billion, multi-gender, multi-category global fashion group. All while maintaining the company's independence and full ownership in an industry that is characterized by intense consolidation.

  • linkedin February 2025

    Interview #19 - Michael Werner; Editor-in-Large, Textilwirts...

    Where is German fashion heading? That was the central theme of my recent conversation with Michael Werner, Editor-at-Large at TextilWirtschaft in our Wiesbaden offices. With over 30 years of experience in the industry, Michael has been a keen observer of the German fashion market. He spent more than a decade leading the editorial team at TextilWirtschaft the leading trade publication for the DACH fashion market, and continues to shape the industry dialogue in his current role as Editor-at-Large. Few have analyzed and narrated the sector’s evolution as extensively as he has.
  • linkedin March 2025

    Interview #20 - Claus Fischer, Global Leader Retail, Luxury ...

    What does it take to become a CEO of a fashion company? This was the focus of my recent conversation with Claus P. Fischer, the Global Practice Lead for Retail, Luxury & Apparel at Russell Reynolds Associates.
  • linkedin

    Interview #28 - Thomas Tochtermann, Chairman GFA

    Why is sustainability taking a “peaceful pause” in fashion? This was the core theme of my recent conversation with Thomas Tochtermann, Chairman of the Global Fashion Agenda. Thomas is a passionate and influential voice for a more sustainable future in fashion. After a distinguished career at McKinsey & Company, he now serves as a board professional for various fashion and consumer companies. I’ve had the privilege of calling him a mentor during my McKinsey years, where he co-founded and championed the Apparel, Fashion & Luxury (AF&L) practice - and he’s remained a trusted friend ever since. In our discussion, we unpacked why sustainability in fashion appears to be facing more headwinds today than just three years ago. Why aren’t consumers willing to pay for sustainable choices? And why, despite all this, does Thomas remain hashtag#optimistic about the industry’s path to true sustainability? This thoughtful conversation is part of my ongoing interview series for my upcoming book on The Future of Fashion.
  • linkedin

    Interview #24 - Caroline Pill, Global Sector Leader Fashion,...

    Who’s Rising - and How? Cracking the Code of Success in Fashion and Luxury This was a central question in my recent conversation with Caroline Pill Global Sector Leader for Fashion, Luxury, and Beauty at Heidrick & Struggles. Caroline plays a key role in placing top-tier executives at leading global fashion, luxury and hashtag#beauty brands. Her work goes beyond traditional talent acquisition – it includes executive coaching and strategic leadership development, with a focus on building teams that combine cultural sensitivity with strategic vision. With more than 15 years of remarkable global experience (New York, Shanghai, London) in executive search, Caroline is the ideal expert to discuss how hashtag#leadership skill sets have evolved, what value formal education plays versus a person’s practical experience, and to hear her thoughts on gender hashtag#diversity in executive roles – particularly her passionate advocacy for hashtag#empowering hashtag#women in hiring practices. Thank you again, Caroline for sharing your valuable insights with the FashionSIGHTS community - I really enjoyed our conversation in London. This interview is part of my series for my upcoming book on The Future of Fashion.
  • linkedin

    Interview #26 - Mats Klingberg, Founder & Managing Director ...

    How independent multi-brand stores can compete today? That was the central theme of my recent conversation with Mats Klingberg, Founder and Managing Director of Trunk Clothiers during my visit to Zurich. In a crowded menswear market, Mats and his team stand out with a distinctive approach that blends understated hashtag#elegance, thoughtful hashtag#curation, and a deep respect for hashtag#craftsmanship. With stores in hashtag#London and hashtag#Zurich, TRUNK has built a loyal following by offering a carefully selected mix of menswear that avoids big-name brands in favor of quality pieces from Italy, the UK, Sweden, Japan, and beyond. TRUNK also reaches far beyond its physical locations, offering a seamless omni-channel experience that serves customers around the world. Mats has developed his own private label and collaborated with respected names such as Lane Crawford in Hong Kong, further underlining his eye for quality and style alignment. Our conversation explored the evolution of the TRUNK brand, the thinking behind his unique product selection, and the role that independent retailers can play in today’s retail landscape. We spoke about what truly sets TRUNK apart from department stores and how real human interactions, craftsmanship, and experience are shaping the new definition of luxury. Mats and I first met when TRUNK was named a Walpole Brand of Tomorrow nearly a decade ago. Since then, he has introduced me to many of my favorite labels - like Boglioli and Mackintosh and even gave me my first modeling job :-)
  • linkedin June 2025

    Interview #29 - Stefania Lazzaroni, CEO Altagamma

    What ist the Future of Luxury? This was the focus of my recent conversation with Stefania Lazzaroni, CEO of Altagamma, the Italian Luxury Goods Association. Since 2013, Stefania has spearheaded initiatives that promote Italian excellence globally, focusing on innovation, sustainability, and digital transformation. She combines strategic insight with a passion for Italian craftsmanship and cultural heritage. Stefania and I first met some 10 years ago. In our conversation, we explored the differences between Italian and French hashtag#luxury companies, reflected on how the industry has evolved since the financial crisis, and discussed why the future of luxury lies in experiences, well-being, and emotional value. This insightful exchange is part of my interview series for my upcoming book on The Future of Fashion.
  • linkedin June 2025

    Interview #32 - Hermann Haraldsson; Co-Founder & CEO, Boozt ...

    What is the real potential of hashtag#fashion e-commerce? That’s the question I explored in a recent conversation with Hermann Haraldsson, Co-founder and CEO of Boozt - the leading multi-brand fashion pure player in the Nordics. Since 2009, Hermann and his team have built a hashtag#powerhouse by focusing on a region most global players overlooked. Today, Boozt not only dominates the Nordic market but also ranks among the most profitable fashion e-commerce platforms in Europe. We spoke about: How fashion e-commerce has matured over the past 15 years Why scale and hashtag#operational hashtag#efficiency are critical for long-term success Why Boozt believes the wholesale model is the right one for their business And why a 50–60% online share is the realistic sweet spot for the Nordic market, given its unique dynamics
  • linkedin July 2025

    Interview #33 - Lauren Sherman, Fashion Correspondent, PUCK

    Why luxury is like toothpaste: squeezed out and consumed, often without much thought. My latest interview with Lauren, fashion correspondent at Puck and host of the podcast #Fashion #People, was a real standout. Lauren brings sharp insight and unfiltered commentary to the world of fashion and luxury. In our conversation, we unpacked how luxury became mainstream, the unexpected role of digital music, the pandemic’s accelerant effect - and why luxury now finds itself in a moment of crisis. It was pointed, thought-provoking, and thoroughly entertaining: just like her podcast, which I highly recommend. Lauren and I first connected years ago when she was with The Business of Fashion and I was co-editing the State of Fashion report. Reconnecting and diving into the fashion landscape - candidly and without hesitation - was a real pleasure. This conversation is part of my ongoing interview series for my upcoming book on the Future of Fashion.
  • linkedin

    Interview #34 - Sima Ved, Founder & Chairwoman, Apparel Grou...

    Why #Dubai Is Emerging as the New #Gateway for #Fashion in the GCC and Beyond That was at the heart of my conversation with Sima Ganwani Ved, Founder and Chairwoman of Apparel Group, during my recent visit to Dubai. We spoke about the region’s remarkable economic resilience, its smart and decisive handling of the pandemic, and the bold ambitions shaping both Dubai’s growth and Saudi Arabia’s Vision 2030. Together, these forces have transformed Dubai into not just a #magnet for #tourism, but also a hub for #talent, #innovation, and high-net-worth individuals. But what stood out most in our conversation was Sima’s perspective on Dubai’s evolving role as a #launchpad for #fashion retail, not only across the GCC but also into India, Southeast Asia, and Africa.
  • linkedin July 2025

    Interview #35 - Claus-Dietrich Lahrs, Former CEO Hugo Boss &...

    Why the #luxury industry must #prioritize #resilience and #desirability over high-risk expansion Claus-Dietrich and I first met around 15 years ago when he was leading the repositioning and internationalization of BOSS. Over the years, he has held senior leadership roles at iconic brands such as Cartier (part of Richemont), Christian Dior Couture (part of LVMH) and Bottega Veneta (part of Kering) giving him a rare, insider perspective on the inner workings of the world’s leading luxury groups. He is also one of the few Germans to have worked at such a high level in this global industry. Our conversation began with the meaning of luxury, the pivotal role Japan played in its global expansion, and how the industry broadened its appeal beyond its traditional clientele. We also explored how luxury lifestyles have become more refined and exclusive - and how sustainability and desirability will shape what’s next. It was a real pleasure to host Claus-Dietrich for lunch at our Wiesbaden office and to reflect together on both the hindsight and foresight shaping luxury today. This conversation is part of my interview series for my upcoming book on the future of fashion.
  • linkedin July 2025

    What have I learned from 33 #interviews about the #Future of...

    Since October last year, I’ve had the privilege of interviewing 33 inspiring individuals across the fashion industry: #CEOs, #editors, hashtag#entrepreneurs, #creatives, #sustainability #advocates, #headhunters, and #startup #founders. From discount to luxury, New York to Stockholm to London, RTW to FTW: each conversation offered a unique lens on the past 15 years of fashion and insightful perspectives on where we’re headed next. Three key takeaways so far: 1. To predict the future, we must understand the past. #HindSIGHT is essential to develop true #ForeSIGHT. 2. We are often #too #focused on the #short #term. While current business pressures are real, meaningful strategy demands a longer-term view. 3. #People are incredibly #open and #generous with their time. What started as conversations with friends has turned into a broad dialogue. Most doors I knock on open - and it’s a privilege to spend 90 minutes learning from such brilliant minds. Talk more, share more. A heartfelt thank you to everyone who has shared their thoughts so far - and to those featured in my sneak peeks: Vanessa Friedman, Claus P. Fischer, Michael Werner, Hermann Haraldsson, Stefania Lazzaroni, Jörgen Andersson, Thomas Tochtermann, Maximilian Bittner, Caroline Pill, James Fallon, Mats Klingberg, Helena Helmersson, Colin Browne, Eric Liu At least 66 more conversations are planned, and I can’t wait to continue this journey. The book will be published in 2026: stay tuned!
  • linkedin

    Interview #36 - Alfons Kaiser, Editor-in-chief, FAZ Magazin

    Why #Luxury Fulfills the Need for #Belonging and why We#Lack #True #Fashion #Creators Today These were the two central themes of my recent conversation with Dr. Alfons Kaiser, fashion critic at Frankfurter Allgemeine Zeitung Allgemeine Zeitung and editor-in-chief of FAZ Magazin. Together, we explored the evolving cultural role of fashion and luxury: - Fashion today is no longer just about style: it’s about visibility, social positioning, and emotional currency. - Young people increasingly define themselves through image and consumption rather than cultural capital. - Luxury brands have evolved from being mere retailers to becoming cultural powerhouses. - The future of luxury lies in shifting from objects to environments, from external display to internal meaning. We also reflected on the fading role of the fashion designer as a true creative force. The industry today favors marketing-driven collections and industrialized production cycles over bold ideas and strong creative voices. Visionaries are being replaced by managers. That shift may serve business efficiency - but it’s a loss for culture. Alfons is a strong voice in German fashion: a respected commentator, critic, and intellectual, and the well-known biographer of Karl Lagerfeld. What started as breakfast at our new offices turned into a three-hour exchange on fashion, culture - and business. This conversation is part of my ongoing series of interviews for my upcoming book on the Future of Fashion.
  • linkedin

    Interview #38 - Carsten Keller, CEO, CHRONO 24

    Carsten and I worked together for over a decade at McKinsey & Company where we joined forces to build the Apparel, Fashion & Luxury team. After leaving the Firm in 2016, he scaled Zalando’s partner program and connected retail business and in January 2024, he took the helm at Chrono24 Our conversation covered a lot of ground, e.g., 1) The growing importance of end-to-end marketplaces 2) Why many millennials view buying a luxury watch as a milestone 3) The booming resale market - and Chrono24’s pivotal role in it And yes, I couldn’t resist asking: Which watches actually sell? The answer: classic and timeless pieces consistently outperform trend-driven models. It was a pleasure (and a lot of fun) to sit down with Carsten and dive into the current state - and future - of luxury hard goods resale. This conversation is part of my ongoing interview series for my upcoming book on the Future of Fashion.
  • linkedin

    Interview #39 - Patrick Chalhoub, Executive Chairman, Chalho...

    The Chalhoub Group is the largest luxury goods partner and retailer in the GCC, with a strong focus on fashion, beauty, and lifestyle. This family-owned group collaborates with iconic global brands such as Louis Vuitton, Christian Dior Couture, Lancôme, Carolina Herrera, and TORY BURCH, while also developing homegrown retail concepts tailored to the region. In our discussion, we explored how luxury has become deeply embedded in everyday life in the Middle East - how local tastes have evolved from status-driven prestige and logos to a more personal, expressive, and pleasure-oriented relationship with luxury. We also spoke about how the partnerships between global brands and local players have matured - moving beyond distribution into long-term, strategic collaboration. This conversation was another highlight in my journey to understand the transformation of fashion and luxury in the GCC - and to gather insights into where the industry is heading. It was recorded as part of my interview series for my upcoming book on the Future of Fashion.
  • linkedin

    Interview #34 - Renuka Jagtiani, Chairwoman, Landmark Group

    During my recent visit to Dubai, I had the privilege of sitting down with Renuka Jagtiani, Chairwoman of Landmark Group - one of the UAE’s leading multinational retail and hospitality groups, with over 2,200 stores across the Middle East, India, Southeast Asia, and Africa. The group is behind beloved brands like Max, Splash, Lifestyle, and Home Centre. In our engaging conversation, we discussed why retail in the hashtag#GCC thrives only with true #operational #agility and deeply #localized #strategies. When it comes to #India, Renuka shared her focus on major urban centers, strong product leadership, and a deep understanding of local customer demands in a highly competitive market. I left inspired by her energy, clarity, and leadership - especially amazed to have met my second female chairwoman of a major retail group within just a few hours. Something that, honestly, happens far too rarely in other parts of the world. This conversation is part of the interview series for my upcoming book on the Future of Fashion.
  • linkedin September 2025

    Interview #37 - José Antonio Ramos, CEO, ASOS

    Why curation and personalization are shaping the Future of Fashion e-commerce experience That was at the heart of my recent conversation with my friend José Antonio Ramos Calamonte, the CEO of ASOS. We explored how fashion e-commerce has evolved since the financial crisis - its gloom and doom, the tech-driven rise of personalization, and how thoughtful curation is becoming central to ASOS’s value proposition. Of course, no conversation about the Future of Fashion would be complete without addressing the pressing challenges of sustainability. José and I go way back - we first met over 15 years ago during his time at Esprit, and I’ve followed his impressive journey ever since, from Salsa Jeans in Portugal to starting at ASOS during the height of the pandemic. This conversation is part of my interview series for my upcoming book The Future of Fashion: a project that brings together the voices shaping what’s next in our industry. The picture was taken during the Modaes Barcelona Fashion Summit earlier this year.
  • linkedin October 2025

    Interview #23 - André Maeder, CEO Selfridges Group

    Why the current #luxury #hangover is an opportunity to recalibrate. I had the pleasure of exchanging thoughts on the current slowdown of the luxury sector and the role of department stores in its recovery with my good friend André Maeder the CEO of Selfridges Group and a renowned retail industry leader and expert. He brings 50 years of professional experience, having held leadership roles at luxury retailers such as Harrods and THE KADEWE GROUP. We’ve known each other since his days in Metzingen with HUGO BOSS in 2008. Aspirational shoppers represent a substantial share of luxury sales, and their recent pullback has been a key driver of the industry’s slowdown. We discussed why brands cannot depend solely on the ultra-wealthy segment to navigate cyclical downturns, and how leveraging department stores as gateways and immersive spaces for both aspirational and affluent consumers might help the industry to overcome the challenges it is currently facing. Thank you, André, for your time - I truly enjoyed visiting you in London and having such an insightful conversation. Further highlights from my interview with André will be featured in my upcoming book on the Future of Fashion.
  • linkedin October 2025

    Interview #42 - Alexis Mourot, CEO, Christian Louboutin

    In a world chasing scale, the formula to success lies in specialization, craftsmanship, and strategic restraint. That conviction was at the core of my recent conversation with Alexis MOUROT, CEO of Christian Louboutin and one of the leading and most passionate voices in luxury. We discussed how the fashion and footwear industries have evolved over the past three decades: from the moment sneakers became a true luxury item to how Christian Louboutin turned its signature product into a competitive strength amid a shrinking high-heel market. Alexis also shared his perspective on the current luxury slowdown, why critical mass isn’t always the key driver to success, and how a renewed focus on authenticity and craftsmanship could define luxury’s next chapter.
  • linkedin November 2025

    Interview #44 with Frederic Court; Founder, Felix Capital

    Few industries are as alluring - and as unpredictable - for financial investors as Fashion. It’s a theme I recently explored in conversation with Frederic Court, Founder of Felix Capital in London. Frédéric is one of the most influential voices at the intersection of fashion and finance - and our paths first crossed almost a decade ago when I launched the McKinsey & Company x The Business of Fashion collaboration. Felix Capital was among the first backers of BoF on their own journey into fashion. We discussed how fashion has evolved into an investable category, why it remains one of the most complex markets to navigate, and what makes success in this field so elusive. Frédéric also shared his perspective on the current luxury slowdown and his vision for the future of fashion and venture capital. A heartfelt thank you to Frédéric for taking the time to share such valuable insights. I truly enjoyed our exchange at Felix’s London office: an inspiring conversation and a thoughtful perspective on fashion’s inner economy. Further insights from this interview will be featured in FashionSIGHTS’ upcoming book, The Future of Fashion, which brings together leading voices shaping the industry’s next chapter.
  • linkedin October 2025

    Interview #40 - Jaume Miquel; Chairman & CEO, TENDAM

    The fashion industry is being reshaped by changing consumer mindsets, sustainability pressures, and new investment models I recently had the pleasure of discussing these topics in depth with Jaume Miquel, the chairman and CEO of TENDAM and a renowned industry expert and strategist. Tendam is a Madrid-based multi-brand fashion and omnichannel retailer (Cortefiel, Springfield, Pedro del Hierro et al), since recently majority-owned by Multiply Group. Jaume and I first met some 10 years ago and I have always valued our insightful discussions about the evolution of fashion and the industry. During our latest conversation, he shared his perspective into the industry's ongoing consolidation, the impact of private equity on fashion, and how successful companies balance creativity with strategy. Thank you so much Jaume for taking the time to speak with me and for such an inspiring conversation. Further highlights from my interview with Jaume will be featured in my upcoming book on the future of fashion.