Artwork: Vogue Business A lot has changed in luxury over the past six months, with Covid restrictions easing in China , corporate reshuffles at LVMH , the acquisition of Tom Ford by Estée Lauder and the departure of Alessandro Michele from Gucci . The top four brands of the Vogue Business Index have nonetheless remained the same, defending their positionings. Look under the hood, though, and some changes seem to be happening, with purchase intent down for most major players (except in China) and diminishing scores across many of the consumer metrics tracked. Survey data shows few consumers want to switch brands as economic instability continues but may shop differently if prices increase, with a readiness to wait for sales. Brands should continue to grow their digital reach, being mindful of the fastest-growing channels, and working with culturally important figures and collaborators in spaces like gaming, film/TV and hospitality and leisure to cement their appeal even if times are tough. 1. Louis Vuitton LVMH Rank change: 0 A leader in almost all areas covered by the Vogue Business Index, Louis Vuitton maintains its spot at the top of the rankings. Enthusiasm for the French maison among luxury consumers only […]
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