The Word Prada's CEO Would Not Use
Prada's CEO refused the word "aspirational" on camera. The replacement defines the customer by time, and Miu Miu is the proof.
When a Street Stops Getting More Expensive, Watch Who Buys It
Via Montenapoleone stopped getting more expensive. It also became the most contested piece of ground in the industry. Only the second one matters.
At Chanel, Even the Numbers Are Rationed
Chanel reports its results once a year, in May. In August, the market learned its first half anyway.
Why Jewellery Grew While Fashion Stalled
In the quarter to 30 June, one category grew at every group that reports it separately. It was not the category with the creative directors.
The Industry That Sells the Antidote to Itself
The houses crossing the cycle best protected the conditions that produce desire: scarcity, distance, interval. The divergence is philosophical before it is financial.
The C-Branded Era Passes Its First Test: Kering H1 2026
When the sector's most disciplined communicators start selling proximity, it is not a slip. It is a channel.
The Customer Is a Quilt, and the Brand Is One Patch
Luxury's loyalty model was built on a generation that no longer exists. Occupation is no longer available. Rechoice is.
Hermès H1 2026: The House Paid for 2030, and the Bill Was 40 Basis Points
Hermès gave back 40 basis points of margin this half. It did not lose them. It spent them.
The C-Branded Era: The Executive Is the Campaign Now
Luxury's scarcest asset has always been distance. This summer, its executives began spending it, deliberately.