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Premium card offerings: While average or struggling consumers may not be getting access to credit lines, banks are engaged in a luxury card arms race to attract wealthier consumers with a penchant for discretionary spending鈥攅ven amid economic uncertainty. Citi announced during its earnings presentation that it would launch the Strata Elite card to go after higher-income consumers.

Herm猫s鈥� strong Q3 performance makes it a luxury outlier: The company鈥檚 double-digit growth was in stark contrast to Kering鈥檚 slump, as weak global demand weighed on sales.

Tapestry鈥檚 advantages: Accounting practices notwithstanding, Tapestry is confident that its product array, affordable price point, and brand building efforts position it to continue growing despite falling consumer confidence and declining interest in luxury spending.

Instead of splurging on luxury items, consumers used Prime Day to stock up on household necessities. "The vast majority of what Amazon was selling were these everyday essentials, like protein shakes... Dawn Platinum dish soap. These are things that people buy regularly," said Wolff. "Clearly, they're just using these sales, taking advantage of these sales to buy those everyday products.".

Global personal luxury sales will contract this year: That will be the first decline since the Great Recession as weak spending in China weighs on the broader market.

The brand has positioned itself at the intersection of affordability and luxury, with $50 cashmere sweaters claiming to match the quality of $500 alternatives. "I think of them a little like if Temu and Prada had a baby, it could be Quince," Canaves said. 8. Amazon.

That means pairing luxury experiences with proactive economic guidance, transparent market outlooks, and reassurance about asset safety. Wealthy clients aren鈥檛 just looking for service鈥攖hey want stability and confidence in their institution鈥檚 foresight. Banks that combine emotional connection with financial clarity will win the loyalty鈥攁nd deposits鈥攐f this demographic.

Uniqlo, Ikea join luxury companies鈥� real estate spending spree: The two retailers snapped up prime space on Fifth Avenue to lock in their spots in a busy retail corridor.

For luxury brands, tapping into the partnership channel presents a unique opportunity to reach new audiences and maximize brand awareness. The pay-for-performance partnership model mitigates risk by allowing luxury brands to work with partners that can curate rich stories all the way down the purchase funnel for an established community.

US consumers' appetite for luxury is beginning to fade: But rapidly recovering demand from Chinese consumers will allow LVMH, Prada, Kering, and others to maintain their strong momentum.

Last year, auto dealers gifted star football players luxury vehicles in exchange for using their likeness, according to The Athletic. Brands can find student-athletes to partner with in multiple ways. Brands can find athletes willing to work with them on marketplaces like Icon Source or Opendorse. Brands can also attempt to connect directly with athletes and their representatives.

Burberry returns to its roots: To turn its fortunes around, the struggling luxury company will undo its brand elevation strategy and focus on outerwear and scarves.

Hugo Boss鈥檚 diversified sourcing and supply chain flexibility give it an edge over less-prepared luxury peers鈥攁nd a more stable footing in an increasingly volatile market.

Capri blames Michael Kors鈥� decline on excessive discounting: The luxury brand鈥檚 attempt to stay competitive by slashing prices hurt its cachet and handed momentum to labels like Coach.

Luxury brands are buying up premium real estate: Kering, LVMH, and Prada are spending big to acquire flagship properties on prime retail corridors.

L鈥橭r茅al鈥檚 Aesop purchase is the company鈥檚 biggest yet: The beauty giant is spending $2.53 billion to stake a larger claim to the highly profitable luxury skincare category.

Dupes gain steam as shoppers seek middle ground between fast fashion and luxury labels: Quince and Italic are among the brands poised to benefit as shoppers prioritize affordability.

While luxury sales are slowing as consumers flock to cheaper retailers for apparel, beauty, and other goods, luxury retailers with off-price brands, like Neiman Marcus Last Call and Nordstrom Rack, are seeing store visits climb.

A failed game plan: CEO John Idol鈥檚 plans to build a luxury conglomerate capable of rivaling European heavyweights are now dead in the water, as stiff luxury headwinds coupled with strategic missteps force Capri to pare its ambitions.

The bank expects to roll out more luxury experiences at 30 new financial center branches by 2026.

As sales growth of luxury goods slows in established markets, brands will expand in emerging regions like the Middle East. There, rising wealth among a young population that鈥檚 bringing their spending home will boost demand.