Luxury fashion – think Hermes, Louis Vuitton or Chanel – has been hit by the clash of its traditions with the now-majority millennial and Gen Z culture, and with the economic downturn from the pandemic. Stores and factories are closed, runway shows cancelled. Spring/Summer inventory is piled up everywhere. Luxury has been characterized by quality, but also by perceived scarcity, elegant corporate boutiques and luxury department stores – and no selling online, no comparative or price advertising, and no discounting ever. Now millennials seek streetwear, and high end labels are offered online at major discounts. What should luxury labels do? The topic is part of an in-process documentary film.
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