Dossier. Desire for Luxury: Experiences, Practices, Values
Focus. The Artificial Era (but not too much)
Global Players are Shopping for Smaller Businesses
In the last few decades, the luxury goods market has experienced significant expansion, drawing attention to distinct elements that have shaped this evolution. One notable aspect is the geographical shift of the market, with a strong move towards emerging countries, including China, which stands out as one of the most influential areas for luxury brands. Furthermore, industry players have adopted strategies of product diversification and sustainability, embarked on a process of digitalization to meet the consumers' new needs, and launched a process of industry consolidation as a whole. This consolidation has seen global players acquire small luxury houses operating in market niches to enhance profitability and increase market share.