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press Title Lorem Ipsum
The Apparel, Fashion and Luxury industry has seen amazing growth to USD 2.4 trillion, unprecedented levels of value creation and a significant increase in cultural and societal relevance since the beginning of the century. Globalizing markets, the success of American pop culture.
white paper February 2025 Coming soon: 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.
(To be released on February 27)
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.
linkedin 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 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 December 2024 Luxury and Fast Fashions Are Creating Billionaires Galore
WWD by Miles SochaAchim 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.
press November 2024 Why German car manufacturers are failing with their luxury s...
WirtschaftsWoche by Nele Antonia HöflerAchim lends his expertise on luxury strategy to examine the German auto industry's challenges.
In their ambition to establish themselves as luxury brands, German carmakers such as Mercedes, BMW and Audi are encountering obstacles. Despite efforts to appeal to high-end consumers, they are struggling to differentiate from the mass market and establish a true sense of exclusivity.
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.
press October 2024 He Transformed the Red Carpet. Now What?
The New York Times by Vanessa FriedmanAchim comments on the challenges of relaunching heritage brands, particularly the high financial and time investment and the corporate structures required. Daniel Roseberry has transformed Schiaparelli into a celebrity favorite with bold designs that spark public debate. Despite limited retail presence and no mass marketing, high-profile clients like Kim Kardashian and Lady Gaga have kept the brand relevant in fashion's attention economy. Now, as Schiaparelli expands into ready-to-wear and accessories, Roseberry faces the challenge of making the brand commercially viable while maintaining its exclusivity, marking thebeginning of a crucial "Act II."
press October 2024 With New Fragrances, Bottega Veneta Smells a Hit
Wall Street Journal by Rory SatranAchim shares his perspective on why luxury brands are increasingly venturing into the beauty segment.
Bottega Veneta is launching a collection of five unisex luxury fragrances this October. These high-end perfumes are the first project to be launched by the newly formed Kering Beauté, the conglomerate's division dedicated to the booming beauty industry. According to Achim, beauty is an attractive segment for luxury brands as it has proven to be more resilient than fashion.
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 Giorgio Armani- L’uomo, il marchio, l’azienda
Book by Frank Pagano and Marco DiDio RoccazzellaAchim 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.
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 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.
