Leading in 2026 might feel less rocky compared to 2025.
Luxury executives have been busy steering through a downturn and a series of challenges including tariffs, geopolitical insecurity, difficulties in China’s housing sector and low consumer confidence, and creative transitions. While for their part, jewelers faced rising gold prices.
“One of the most important challenges for the industry will be to reconquer the aspirational Western middle class consumers,” Bernstein luxury goods analyst Luca Solca says.
In 2026, the luxury industry is expected to grow by 6.5%, broadly in line with the sector’s historical average, according to HSBC. “We trust 2026 will start strong, with consumers engaging with better value propositions from brands, and a sales pick-up geographically led by the US and Greater China,” HSBC analysts wrote in a note.
This should provide some relief for luxury executives. We reached out to leaders from LVMH, Chanel, Kering, Richemont and LuxExperience and asked them to share their wishes and predictions for the year ahead.
Bruno Pavlovsky, president of Chanel fashion and Chanel SAS, and president of the Fédération de la Haute Couture et de la Mode (FHCM)
We really have to steer things with great caution and finesse, while continuing to make people dream. If luxury dulls itself and no longer inspires dreams, then it ceases to be luxury. So we constantly live within this paradox, and that’s also what makes this business so captivating: continuing to venture where we’re not necessarily expected, continuing to offer something truly unique and exceptional, while navigating the real world’s macroeconomic challenges.
We must never forget that we’re also here to make our clients dream, to preserve that creative dimension that allows everyone — our clients, but really everyone — to see the brands with both respect and desire. That remains the most important thing.
Myriam Serrano, CEO of Richemont-owned fashion house Alaïa
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