Abstract
It looks a lot different now than it did in January.
Change has come for every corner of the industry. In the middle of a segment-wide slowdown, fashion’s leading luxury brands have overhauled their strategies and leadership ranks in a way that will have a lasting impact on the next phase of growth and creativity, with new creative directors in place at Chanel, Bottega Veneta, Givenchy, Celine and more. Luxury e-commerce, too, had a major year of upheaval, as several of the one-time retailers of tomorrow found new owners, including Farfetch and Net-a-Porter, or shuttered altogether, as was the fate for Matchesfashion.
The mass market, too, dealt with its own challenges. Department stores joined forces and faced existential threats in an increasingly challenged environment. Nike slowed down, suffering from a lack of innovation in product and marketing, culminating in the departure of CEO John Donahoe in September. At the lowest end of the pricing spectrum, competition has ramped up with the advances of Temu and TikTok Shop, while Shein continues to fight for its initial public offering in London.
Plus, in the US, Trump’s second-coming and TikTok’s potential sale or banning are fast-approaching, leaving plenty of questions for what the industry will face in the new year.
Change has come for every corner of the industry. In the middle of a segment-wide slowdown, fashion’s leading luxury brands have overhauled their strategies and leadership ranks in a way that will have a lasting impact on the next phase of growth and creativity, with new creative directors in place at Chanel, Bottega Veneta, Givenchy, Celine and more. Luxury e-commerce, too, had a major year of upheaval, as several of the one-time retailers of tomorrow found new owners, including Farfetch and Net-a-Porter, or shuttered altogether, as was the fate for Matchesfashion.
The mass market, too, dealt with its own challenges. Department stores joined forces and faced existential threats in an increasingly challenged environment. Nike slowed down, suffering from a lack of innovation in product and marketing, culminating in the departure of CEO John Donahoe in September. At the lowest end of the pricing spectrum, competition has ramped up with the advances of Temu and TikTok Shop, while Shein continues to fight for its initial public offering in London.
Plus, in the US, Trump’s second-coming and TikTok’s potential sale or banning are fast-approaching, leaving plenty of questions for what the industry will face in the new year.
| Original language | American English |
|---|---|
| Publisher | The Newscasters' Studio |
| Media of output | Online |
| Size | 00:23:46 |
| State | Published - Dec 24 2024 |
Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver