Luxury Fashion in 2024: Rising Stars and Challenges

A recap of which luxury brands soared and which faced challenges in 2024. Discover the evolving dynamics of the fashion industry this year.

Loro Piana, Avenues Mall, Kuwait

Content Highlights:

• Rising Stars:

  • Loro Piana, Loewe, and Rimowa confirmed their solid momentum, contributing positively to their parent company's performance.

    
    

• Declining Giants:

  • The luxury market saw a shrinking customer base by about 50 million over the last two years, signaling challenges for several brands.

    
    

• Designer Takeovers:

  • Michael Rider joined Celine as the new creative director, bringing a fresh perspective to the brand.

    
    

  • Sarah Burton took over at Givenchy, aiming to redefine the brand's aesthetic.

Luxury fashion had its moments of brilliance and challenges this year. Want to explore what’s next for the industry? Stay with us as we continue our Countdown to 2025.  Sign up for our newsletter and follow Luxury Learnings on LinkedIn, Instagram and Tiktok to stay informed and inspired.