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press December 2024 Getting dressed will be fun again
Financial Times by Kati ChitrakornAchim shares his perspective on the key themes shaping the fashion industry in 2025.
After a drop in global sales of personal luxury goods in 2024, the industry is hopeful for modest recovery in 2025. Achim highlights the need to correct overinflated pricing and notes that structural changes, including the offloading of underperforming assets, may be necessary. Ethical and social responsibility will remain critical and growth opportunities will be mostly seen in emerging markets. Major deals in the fashion industry are unlikely in the near term due to stagnant IPO markets. Nevertheless, Achim predicts further consolidation across the industry in the months ahead as well as a shift back to a more personal, individualistic style.
press December 2024 Will luxury stocks remain slow sellers?
Der Aktionär Edition 2025 by Sarina RosenbuschIn an interview with Der Aktionär, Achim provides his perspective on the outlook for the fashion and luxury market in 2025. Next year will remain challenging for luxury brands, marked by ongoing market consolidation. While the luxury categories of fashion, jewelry, and watches face significant headwinds, demand for experiences and travel continues to thrive. Additionally, more space has emerged between the mid-market and luxury segments, allowing premium brandslike Coach to flourish. Fast fashion players such as H&M and Zara are elevating their positioning to differentiate themselves from Asian competitor Shein, while appealing to customers who increasingly prioritize value for money and sustainability. Meanwhile, the booming sportswear segment is undergoing dynamic shifts, with challenger brands (e.g., On, Lululemon, Skechers) steadily gaining market share from the incumbents Nike, Adidas, or Puma.
press December 2024 Fashion industry faces cautious consumers during Christmas s...
tagesschau24 Update Wirtschaft by Anne-Catherine BeckAchim discusses on German television how this year’s Christmas business is unfolding for the fashion and luxury industry.
He points out that while city centers may seem less busy, people are still shopping, especially now during the holiday season – but there is a noticeable reluctance to spend. Affordable luxury in particular is struggling as aspirational consumers cut back, while high net worth individuals continue to spend at the top end of the segment. There are fewer tourists from SoutheastAsia as they shift their spending to Japan given favorable exchange rates; although Americans and Middle Eastern customers are increasingly present inEurope. In addition, online and secondhand sales are growing and taking sharefrom brick-and-mortar stores. Achim attributes the industry’s challenges to a stagnant market in Europe, economic uncertainty, and an increasinglycompetitive landscape. This has led to a wave of consolidation, as evidenced by the recent acquisitions such as the Zalando-About You or MyTheresa-Net-a-Porterdeals.linkedin How to Spend It...
has been one of my favorite weekend rituals for over 20 years. There’s something special about getting up early on a Saturday, when thelinkedin February 2025 Is luxury elder care the next frontier?
Is #luxury #elder #care the next frontier? This weekend, I came across an intriguing Financial Times article about the rise of high-end care homes in the…
press October 2024 Luxury online retail – Mytheresa is now facing these challen...
WirtschaftsWoche by Nele Antonia HöflerIn an article in WirtschaftsWoche, Achim comments on the challenges that online luxury retailers like MyTheresa are currently facing and how they can overcome them.
MyTheresa has announced plans to acquire rival Yoox Net-a-Porter in a bid to become the leader in online luxury e-tailing. However, the company faces several challenges as demand for luxury goods has weakened due to uncertain consumer sentiment and rising prices of luxury goods. In addition, luxury brands are increasingly turning to direct sales and moving away from multi-brandplatforms. Growth alone is no longer sufficient for luxury online players; instead investors are now demanding profitability. MyTheresa plans to overcome these hurdles through synergies, a curated offering and the integration of YNAP's platform and customer data.
press October 2024 What's next for luxury e-commerce
at glossy.com by Jill ManoffAchim discusses his perspective on the future of luxury e-commerce with Glossy's Jill Manoff.
Luxury brands are increasingly by passing multi-brand e-tailers, offering direct-to-consumer sales with full product ranges, exclusive perks, and enhanced omnichannel experiences. Many once highly valued e-commerce platform shave struggled to achieve profitable growth in a high-interest rate environment, while others, such as Mytheresa, have thrived by focusing their differentiation strategy on curation rather than low prices, and by building customer loyalty through exclusive services and events. Although luxurye-commerce is projected to grow by 20 to 30 percent, physical retail will remain essential for luxury brands.
press September 2024 LuxuryProblems
FAZ Magazin by Jennifer WiebkingAchim talks with Jennifer Wiebking from the FAZ about the luxury goods boom, the COVID effect, and why the industry is now suffering a post pandemic hangover.
Luxury fashion prices have risen dramatically, with Chanel's iconic 11.12 bag increasing by 470% since 2007, reflecting broader hyperinflation across the industry. As a result of the massive price increases, more accessible luxury brands such as Longchamp and new entrants such as Polène are gaining popularity, offering high quality products at relatively lower prices amidst rising consumer price sensitivity.
press September 2024 From hawk to dove: the Fed's rate cut and its impact on fash...
at Modaes.com by Pilar RiañoIn a discussion with Modaes journalists, Achim shares his perspective on the impact of interest rates on the fashion industry.
The FED’s recent interest rate cut, the first in over four years, has sparked mixed reactions in the fashion industry. Some experts believe it could stimulate consumer spending, especially during the holiday season, while others think its effects may take time to materialize, and the upcoming U.S. elections could heavily influence its impact. The rate cut is expected to weaken the dollar, potentially reducing costs for European fashion companies sourcing materials from abroad but making exports to the U.S. more expensive.
press August 2024 Scandinavian MIND Transformation conference Copenhagen 2024
at scandinavianmind.comA fireside chat with Achim and Konrad Olsson at the Scandinavian MIND Transformation conference in Copenhagen.
Achim Berg reflects on the current state of the fashion industry, including the post-COVID boom and the industry's hard landing in the face of multiple global crises, a challenging macro economic environment, and weakening consumer demand. He also reflects on his personal career, the lessons learned at McKinsey, and provides insight into the plans for his new company.
press February 2025 Spanish fashion conglomerate conquers Leipzig
Leipziger Volkszeitung by Florian ReinkeAchim shares his perspective on Inditex’s expansion strategy in Leipzig, Germany.
Inditex is expanding its brand portfolio in Leipzig with new stores for Zara, Pull & Bear, Bershka, and Stradivarius. Achim points out that this move reflects broader industry shifts, particularly in the mid-market segment, where competition has weakened due to bankruptcies. Coupled with lower retail rents, Inditex is seizing the opportunity for growth. Achim further explains that Inditex’s vertically integrated business model is a key driver of this success, allowing the company to control the entire value chain and operate with greater resilience.
press February 2025 Major luxury groups show weaknesses - with exceptions
WirtschaftsWoche by Emma MöllenbrockAchim discusses the broader challenges of struggling luxury houses and success factors that set certain brands apart from its competitors.
The luxury sector is facing challenges as consumer demand weakens and growth driven by price increases reached its limits. Achim highlights two successful categories: zeitgeist brands that thrive on trends, and exclusive high-end brands like Hermes, benefiting from wealthy buyers whose spending remains stable during economic downturns. In contrast, luxury brands focusing on volume rather than exclusivity, such as Gucci and LVMH, are more vulnerable to economic fluctuations. Achim emphasizes that profitability and an adapted pricing strategy will be key to sustaining growth in the future.
