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The Best of BoF 2024: Designer Reboots and a Rocky Market

The luxury industry was under pressure in 2024 as customers pulled back on high-end purchases. Brands from Chanel to Valentino to Fendi changed their creative lineups, hoping to jump-start demand. But the struggles at Gucci and Burberry show how tricky executing a designer relaunch can be.
Slipping sales at the luxury industry's biggest player—operating Louis Vuitton, Dior, Loewe and more—spell trouble ahead for the sector.
The luxury industry was under pressure in 2024 as customers pulled back on high-end purchases. Brands from Chanel to Valentino to Fendi changed their creative lineups, hoping to jump-start demand. But the struggles at Gucci and Burberry show how tricky executing a designer relaunch can be. (Getty Images)

Luxury brands found themselves under pressure this year.

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