2026年全球奢侈品力量

Contents ForewordExecutive Summary2026 Luxury outlookConsumer trends shaping luxuryLuxury outlookCompanies’ expectationsTop prioritiesTop growth opportunitiesMajorfinancialinvestments17GenAI adoption in Luxury: poised between assessment and implementation Foreword For ten editions, the Global Powers of Luxury report has mapped the industry through the lens of financial statements, anessential compass to understand who performed, where, and why. But financial statements, by definition, tell us what happened. This year, we felt the need to innovate and decided that a different lens could add more value for leaders by helping them sensethe moment, not just audit the past. We have therefore changed the methodology and moved to a forward-looking study grounded in a survey involving 420 C-suiteand senior executives across ten countries. All respondents were directly responsible for or exerted significant influence onmajor strategic initiatives within their organizations spanning key Luxury sectors: Apparel and footwear, Bags and accessories, We also broadened the study scope to include hospitality as luxury today lives as much in the experience as in the product. Theboundaries between personal goods, places, and platforms are dissolving; value is often created where they meet. Luxury has long been about more than products. It is about connection: between brands and people, craft and technology,heritage and reinvention. In a world that feels faster and more demanding, luxury is being asked to do something harder than The past few quarters have been complicated. After the post-pandemic surge, the industry has navigated a pullback ofaspirational consumers under cost-of-living pressures and a series of headwinds: normalizing tourist flows, global tensions and Against this backdrop, the executive interviews highlight a new phase for luxury: stabilization. The months ahead are expected tobe about rebuilding stability and trust with consumers, favoring productivity, loyalty, and durable value over short-term volume. Luxury’s future is anticipated to be won by being truer: clearer in purpose, sharper in execution, closer to the people you serve. Ida PalombellaGlobal Fashion & Luxury Co-LeadDeloitte Italy Katie WeirGlobal Fashion & Luxury Co-LeadDeloitte Global Executive Summary Luxury executives expect 2026 to be driven less by volume andmore by value. Two-thirds of executives expect revenues to holdor rise and an even larger share anticipate stable or improvingmargins, signaling a year where pricing power, product mix,and operational discipline drive the performance. This outlooktranslates directly into expected investment choices concentratingwhere brand appeal builds and returns accelerate:brand and impact of AI is balanced acrossproduct/design, marketing/advertising, customer engagement and personalization,andsupply/demand and inventory intelligence,signaling integration Demand continues to movefrom products to experiences:travel, hospitality, and immersive retail. In parallel,pre-ownedhas matured from a side market to a business to monitor closely:certified programs and platform alliances now support acquisition, Looking five years out, growth re-configures around channels andecosystems:mainstream e-commerce and direct-to-consumer as first-party data infrastructure;social/shoppable commercetofuse culture and transaction;lifestyle adjacenciesto extend the The emphasis on value over volume is directly driving the re-evaluation of store footprint and expected returns. Companiesare raising the bar on capital deployment and prioritizing flagshipquality and unit productivity ahead of additional openings: morethan one-third of executives surveyed plan to reduce capital expenditure and 39.3% expect store network optimization, whilethe majority plan price adjustments, suggesting pricing as theprimary stabilizer of profitability in a slower-demand environment. Sustainability shiftsfrom reporting and governance to redesignthe value chain.Executives prioritizeR&D and innovation andcircularity and lifecycle managementahead of compliance.Transparencyis the enabling substratum that makes everything Use ofGenerative AI (GenAI)moves from initial stages of curiosityand exploration to execution. Adoption splits between assessmentand selective implementation, with roughly one in ten executives 2026 Luxury outlook Consumer trends shaping luxury Executives across the luxury industry agree on a clear hierarchyof consumer trends defining the next 12 months. Foremost is asurge in demand forhyper-personalization and data enabledservices,as luxury clientele seek tailor-made experiences at everytouchpoint. This is matched by the continuingrise of experientialluxury,an elevation of immersive experiences over simple exuberance over the past few years. The post-pandemic euphoriaof 2021–2022 has given way to a more measured reality in whichexecutives anticipate a cautious consumer buffeted by persistent These structural