Holding our course

while adapting to change

What key trends do you expect

to unfold in the luxury sector?

We are emerging from a cycle of contrasting trends that began

in 2020 with the Covid-19 lockdowns. This challenging period

was followed by two years of robust growth for the luxury sector.

Today, the strong bounce in consumer spending is drawing to

an end as geopolitical uncertainties and inflation have taken

hold. Looking ahead, the pace of growth in the luxury market

should normalize. Against this backdrop, new trends are also

starting to take shape. First, because economic globalization is

taking place alongside a polarization in local differences with

respect to legislative frameworks and culture. That highlights the

need – now more than ever – for a “glocal” approach, positioning

our Maisons and their products globally while carefully accom

modating the diversity of local regulations communication

platforms cultural sensitivities and most crucially customer

expectations in each country

Second because the digitalization of our everyday life a trend

accentuated by the pandemic has reached a new phase of

maturity Ironically it has increased the importance of physical

proximity, in-person events and interactions with customers, but

these are all now enhanced by media and digital services,

backed by the power of data, to deliver a seamless, fully integrated

physical and digital experience.

And, finally, because societal expectations for businesses

–  especially world leaders like LVMH – continue to grow. In addi-

tion to our major contribution to employment and innovation,

we need to play an active part in the transition to a carbon-free

economy, forever mindful of biodiversity and of each partner’s

role in the value chain. We are also responsible for protecting

our Maisons’ unique heritage by bringing in young talent, passing

on artisanal expertise and developing the skills needed to thrive

in today’s world.

How can you keep entrepreneurial

spirit alive at a world leader like LVMH

That flows naturally from our Groups history and culture Our

role is to encourage people to think big and to empower our

Maisonsgiving them the autonomy and the means to succeed

cultivating their own identities and driving their creative deci

Antonio Belloni,

Group Managing Director