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Luxury Slowdown Could Last Longer Than Previous Crises, Chanel Watches and Jewellery President Warns

In an interview with Swiss newspaper Le Temps, Frédéric Grangié said the industry’s most worrying issue is customer fatigue and the trivialisation of luxury. “Customers are tired of being bludgeoned by luxury,” Grangié said, forecasting two years of difficult business.
Frédéric Grangié, CEO of Chanel Watches & Fine Jewellery.
Frédéric Grangié, CEO of Chanel Watches & Fine Jewellery. (Chanel)
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The biggest challenge for the luxury sector today is not the general macroeconomic context or the weakness of key markets like China, but customer fatigue with a luxury industry that seems increasingly banal, Chanel Watches and Jewellery president Frédéric Grangié told Swiss newspaper

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About the author
Simone Stern Carbone
Simone Stern Carbone

Simone Stern Carbone is Luxury Correspondent at the Business of Fashion. She is based in Zurich and Paris and covers fashion and beauty, with a focus on the dynamic luxury sector.

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