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Agenda-setting intelligence, analysis and advice for the global fashion community.

Where Did Luxury’s Aspirational Shoppers Go?

After years of fuelling growth at luxury brands, the consumer segment group — which typically opts for entry-level accessories — pulled back sharply on spending in the first quarter of 2023. BoF unpacks what happened and what’s to come.
Aspirational Shopper
Luxury's aspirational shoppers have cut back on spending. (Shutterstock)

In its latest round of earnings, the luxury industry filed a missing persons report.

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Further Reading

Kering Sales Edge Up 1%, Lagging Rivals

Sales at French luxury group Kering rose by just 1 percent in the first quarter, as star label Gucci benefited less than rivals from a rebound in China, and revenues fell sharply in the US.

About the author
Joan Kennedy
Joan Kennedy

Joan Kennedy is Correspondent at The Business of Fashion. She is based in New York and covers beauty and marketing.

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