This week in The Fin podcast, fashion editor Lauren Sams tells us what’s happening on the runways in Paris, why Gen Z is so interested and how it’s reshuffled the rich list rankings.
The French stockmarket is the breakout success of this year, largely driven by the momentum behind luxury-goods producers LVMH, Kering and Hermes International. The benchmark CAC 40 Index is up more than 11 per cent this year, outpacing other major markets.
Between 2019 and 2021. Gen Z increased its share of global spending on luxury from eight to 17 per cent. Together with millennials, Gen Z already accounts for more than half of luxury purchases.The big challenge for luxury fashion brands is how to appeal to a broader customer base while still remaining ‘exclusive.’
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