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Can Luxury Brands Grow in 2024?

For over a decade, luxury brands could depend on casualisation, China and a post-pandemic boom to drive record sales and profits. Now that those factors have played out, it’s unclear where they will turn next for growth.
Shares fell 6 percent after deteriorating sales in the Americas overshadowed a resurgence in Chinese demand.
This week, Burberry became the latest luxury company to report lacklustre quarterly results, saying sales in the 12 weeks through September had risen just 1 percent from a year earlier. (Burberry)
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BoF PROFESSIONAL

This week, Burberry became the latest luxury company to report lacklustre quarterly results, saying sales in the 12 weeks through September had risen just 1 percent from a year earlier compared to an 18 percent jump the previous quarter. Sales in Mainland China and the US fell 9 and 10 percent, respectively.

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About the author
Robert Williams
Robert Williams

Robert Williams is Luxury Editor at The Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.

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