LUXURY IN CRISIS | Loro Piana labor abuses and the death of the luxury story

Luxury fashion is in rough shape, with sales in decline for LVMH and Kering. With the recent scandal involving Loro Piana being put under court administration for labor exploitation, it calls into question - what makes these items luxury? I dive into the current struggles in the industry, the successes, and where I think these brands have lost their way. What is going to keep people buying these expensive goods if they don't tell a compelling story? Business of Fashion article - The Big Luxury Simulacrum is Over: https://www.businessoffashion.com/opinions/luxury/luxury-fashion-industry-simulation-is-over/ What's Ailing Louis Vuitton? https://www.businessoffashion.com/briefings/luxury/this-week-whats-ailing-louis-vuitton/ #luxury #fashion #loropiana #lvmh #fashionnews