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Bain: Luxury loses 15 million shoppers as China and US falter

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Nazia BIBI KEENOO

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July 9, 2025

The luxury sector entered 2025 on shaky ground, weighed down by rising prices and a slowdown in China. According to Claudia d’Arpizio, senior partner at Bain & Company, the industry recorded a 5% drop in first-quarter performance—a clear sign of lost momentum. She shared her insights during the Milano Unica textile fair, painting a sobering picture of an industry facing mounting global headwinds.

Claudia d’Arpizio — Bain & Company.

 “Regionally, we’re seeing momentum build in the Middle East—particularly in Dubai—while Japan has come to a standstill,” d’Arpizio noted. “But China remains the most pressing concern. The government continues to discourage overt displays of wealth, and with the economy slowing, luxury spending has become increasingly taboo. We’re calling this cultural shift ‘luxury shame.’ That pullback has created a vacuum that India and Southeast Asia are starting to fill, though those markets are more fragmented and harder to scale. In the U.S., conditions remain weak overall, despite some modest signs of recovery in May.”

The luxury customer landscape is undergoing a sharp transformation, as rising global prices continue to reshape demand. “In 2024, sales volumes for high-end goods dropped by 20% to 25%,” said d’Arpizio. “In response, brands raised their prices—triggering lower production levels and tighter distribution strategies.” The result: the luxury sector lost nearly 15 million customers, out of a global base of around 400 million. “Brand performance now varies significantly,” she added. “Consumers no longer view luxury as a single, homogenous category. They’re choosing more carefully, prioritizing value and purpose over name alone.”

Rebuilding consumer trust has become one of the industry’s most urgent challenges. “There’s a widening gap between retail prices and perceived value,” d’Arpizio warned. “Prices keep climbing, yet we’re seeing little in the way of true creative innovation. Luxury once stood for aspiration and forward-thinking design—now, for many, it feels out of reach and out of touch. This is more than a pricing issue; it’s a cultural and strategic misstep that brands must confront head-on.”

Behind the scenes, pressure is mounting across the supply chain. As brands scale back production and input costs continue to rise, suppliers are being squeezed. “The situation is worsening,” d’Arpizio said. “And with China ramping up pride in its domestic manufacturing, we’re losing some of our competitive advantage.”

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Puneet Gupta steps into fine jewellery

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December 5, 2025

Traditional and occasion wear designer Puneet Gupta has stepped into the world of fine jewellery with the launch of ‘Deco Luméaura,’ a collection designed to blend heritage and contemporary aesthetics while taking inspiration from the dramatic landscapes of Ladakh.

Hints of Ladakh’s heritage can be seen in this sculptural evening bag – Puneet Gupta

 
“For me, Deco Luméaura is an exploration of transformation- of material, of story, of self,” said Puneet Gupta in a press release. “True luxury isn’t perfect; it is intentional. Every piece is crafted to be lived with and passed on.”

The jewellery collection features cocktail rings, bangles, chokers, necklaces, and statement evening bags made in recycled brass and finished with 24 carat gold. The stones used have been kept natural to highlight their imperfect and unique forms and each piece in the collection has been hammered, polished, and engraved by hand.

An eclectic mix of jewels from the collection
An eclectic mix of jewels from the collection – Puneet Gupta

 
Designed to function as wearable art pieces, the colourful jewellery echoes the geometry of Art Deco while incorporating distinctly South Asian imagery such as camels, butterflies, and tassels. Gupta divides his time between his stores in Hyderabad and Delhi and aims to bring Indian artistry to a global audience while crafting a dialogue between designer and artisan.

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Celine unveils flagship boutique in Vienna

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December 5, 2025

In a first for the Alpine republic, Celine is opening its debut store in Austria. With a new opening on the prestigious Kohlmarkt in the heart of Vienna, the French luxury house, which recently drew attention with Michael Rider’s debut, also aims to underscore the importance of the German-speaking markets. Celine opened its first standalone store in Germany, in Munich, in 2017.

A look inside the salon of the French luxury house’s new Vienna store. – CELINE

The 150-square-metre luxury boutique in Vienna spans three storeys. It showcases the latest womenswear and menswear collections, beauty, fragrances, and Maison pieces. From the outside, the flagship impresses with a listed façade of sculpted marble, paired with large, dark-framed, floor-to-ceiling windows.

Inside, natural stone prevails, with materials such as Grand Antique marble combined with travertine. Basaltina flooring laid throughout features a French-inspired chevron pattern. The sense of luxury is heightened by ultra-clear mirrors- some finished in antique gold- neon lighting, and polished metal.

On the ground floor, womenswear is presented, beginning with accessories, leather goods, beauty products, and fragrances. This is followed by the ready-to-wear area.

A staircase with cantilevered steps, inspired by minimalism, leads to the first floor, where the menswear collections are presented. The scheme here is darker overall, with black-lacquered walls and a selection of timbers that contrast with the lighter woods in the other areas.

A look inside the luxury boutique.
A look inside the luxury boutique. – CELINE

An intimate salon on the second floor, accessible exclusively via a private lift, expands the store and includes an enlarged fitting room.

Throughout the store and its numerous lounge areas, the furnishings comprise a selection of vintage and contemporary pieces. As part of the ongoing Celine Art Project, a curated selection of artworks is on display with a stoneware composition by Anders Hald, a painting by Jasmine Gregory, and sculptures by Rosalind Tallmadge and Marcelo Silveira.
 

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Portuguese fashion designer Micaela Oliveira honoured at Saudi Arabian Women’s Night 2025

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December 5, 2025

“It is with great pleasure that we announce Micaela Oliveira, the celebrated Portuguese designer, as one of the featured couturières at the Saudi Arabia Creative Women Forum 2025 Gala Dinner and Awards Ceremony,” the organisation declared on its social media channels, in a post also shared on the designer’s Instagram account, announcing the tribute at the event held on November 6 at the National Museum in Riyadh. The evening opened with an address by Princess Noura bint Saud bin Naif bin Abdulaziz Al Saud, patron of the Forum and founder of Saudi Fashion Week, followed by a runway show by the Portuguese designer, celebrating the rich traditions of this enchanted kingdom.

Lux

The publication further notes that the Trofa-born couturière “grew up surrounded by fabrics, prints, and creativity- a world that has shaped her lifelong devotion to fashion,” and that over the past 20 years she has “built an extraordinary career defined by elegance, daring, and refinement, consolidating her name among the leading designers of wedding dresses and haute couture,” the statement continues.

“Her creations- a harmonious blend of sophistication, sensuality, and femininity- embody her belief that each dress should tell a story, evoke emotion, and reflect the unique essence of the woman who wears it,” reads the message shared simultaneously on the Forum and the eponymous designer’s Instagram accounts.

“Guided by the values of exuberance, creativity, and impeccable craftsmanship, Micaela’s creations blend classic beauty with contemporary art, achieving a timeless charm,” the post adds, highlighting “a vision that transcends borders” that “continues to enchant the global fashion world, transforming dreams into haute couture masterpieces that celebrate individuality and the eternal elegance of femininity.”

Lux

For her part, Micaela Oliveira expressed her gratitude for the honour at the Saudi Arabia Creative Women Forum 2025 Gala Dinner and Awards Ceremony, which took place in Riyadh, the capital and principal financial centre of Saudi Arabia: “It was a privilege, as a designer, to travel to the Kingdom of Saudi Arabia, where I was honoured before members of international royalty and government representatives at a truly magnificent awards ceremony,” she said in a statement quoted by Lux.

“This prestigious award was presented to me by Her Royal Highness Princess Noura bint Saud bin Nayef bin Abdulaziz Al Saud, a pioneering woman and a leading figure in the Kingdom’s artistic community. I had the great honour of presenting a fashion show celebrating the rich traditions of this remarkable country during the Creative Women Forum 2025 Gala Dinner and Awards Ceremony.”

Instagram

“We are delighted to announce the return of the Creative Women Forum in Riyadh, which will take place from November 4–6, 2025, under the esteemed patronage of Her Royal Highness Princess Noura bint Saud bin Nayef Al Saud,” announced Creative Women Platform on Instagram. “This year’s forum will be held at the iconic Princess Nourah bint Abdulrahman University- the largest women’s university in the world.”

“A powerful stage for a global gathering of visionary women,” it continues. “Join us for three transformative days filled with innovative leadership, inspiration, and ground-breaking ideas, as we explore creativity, entrepreneurship, sustainability, and the future of women in leadership.”

This time, the experience culminated in a fabulous gala dinner and awards ceremony, “celebrating the brilliance of the women who shape our world,” concludes Creative Women Platform, on its social media.

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