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- Roger Anglin “The Future of Luxury: Evolving Beyond Growth for Lasting Impact” Susanna, you raise valid concerns about LVMH and the challenges it faces in a maturing luxury market. However, I think there’s a broader way to look at this situation, one that goes beyond traditional metrics of growth and consolidation. Luxury is evolving, and we are at a pivotal moment where it’s not just about expanding market share or reviving past strategies. The luxury sector has the unique opportunity to redefine its value proposition in a way that’s far more impactful than simply chasing growth for growth’s sake. The future of luxury could focus on creating deeper connections—with communities, with culture, and with the environment. A New Definition of Growth Instead of focusing solely on financial metrics or revisiting legacy decisions, luxury brands have the chance to rethink what growth means. Growth in today’s world could mean growing influence in sustainability, growing relationships with global communities, and growing leadership in ethical practices. This isn’t about pausing to catch a breath but rather recalibrating to ensure long-term, meaningful success. The Shift from Status to Substance Today’s consumers are looking for more than just prestige. They want authenticity, purpose, and responsibility from the brands they engage with. Luxury is no longer just about exclusivity; it’s also about creating lasting value in ways that benefit society at large. Brands that can balance this shift will not only survive but thrive. Innovation and Culture A key differentiator moving forward will be how well luxury brands integrate innovation with heritage. This is where new ideas, fresh collaborations, and a willingness to step outside traditional business models will help brands not only stay relevant but also lead. The luxury market has always been aspirational, but now, it’s also about inspiring positive change. Looking Ahead In the near future, luxury companies will likely face the challenge of proving their relevance not just through products, but through the impact they make. Brands that can balance their rich history with forward-thinking initiatives—whether through innovation, cultural engagement, or responsible practices—will continue to lead, while others may struggle to keep pace. Luxury has always been a symbol of aspiration. Now, it’s time for it to aspire to something greater. @SusannaNicoletti @LVMH @Burberry @Sustainability @LuxuryInnovation #FutureOfLuxury #SustainableLuxury #LuxuryInnovation #CulturalRelevance #ImpactfulGrowth #LuxuryLeadership #CircularEconomy #AuthenticLuxury #LuxuryEvolution #SustainabilityInFashion #LuxuryAndPurpose
- Emilie Prouzet Yesterday, the INT section of European Economic and Social Committee welcomed Mrs Inge Bernaerts, Director for strategy and policy in the European Commission, DG COMP. An opportunity to: 👉 address our support for the work DG Comp does for competition as a driver of innovation, choice and price for consumers. 👉 highlight concerns : 1️⃣ First we need their support to obtain fact based policy making. Defending a competitive single market also in the agrifood sector is key. On the specific topic of UTP, the COMP Chief Economist recognised that we need economic assessment to assess whether national rules that regulate UTPs are leading to benefits for smaller farmers and processors down the chain. He cautioned also against the impact of interfering in relations between large retailers and suppliers Despite these needs, European Commission just published 2 new legislatives proposals, one link to UTP [(COM(2024) 576 final]. And both of them have NO impact assessment. So NO competitiveness check. . Both offering opportunities to furthering national, not Single Market, agendas. 2️⃣ Second, on territorial supply constraints ('TSC'). DG Comp has undertaken fact finding exercises. SMET is in charge. ‘TSCs’ are restrictions imposed by large manufacturers which prevent retailers from sourcing where they wish in the Single Market. They limit retailers’ possibilities to make products available at affordable prices for consumers across the EU. The Commission study found that TSCs cost EU consumers more than €14 billion a year. We support active enforcement action against TSC’s, leading to the Mondelez case (€337 million fine) last July and AB Inbev case decision leading to a €200 million fine in 2019. We need even more action! We also need support from policy makers to stop TSCs which are costing consumers at least €14bn per year.