01 · CONSUMER · CULTURE · 2026-10-03
BY FRANCESCO LAERA
From the demographic promise to a redefinition of value, with a reading of markets from 2022 to 2026
Abstract
Between 2019 and 2022, the luxury sector built its growth strategy around a demographic promise: Millennials and Gen Z would become the majority of consumers and drive the market through 2030. From 2023, that promise began to fracture. Aggressive price increases, a focus on the very wealthiest customers and changing codes of status pushed away a significant share of younger and aspirational consumers. This study argues that the generational shift is not simply a decline in youth demand, but a redefinition of luxury’s value along three axes: from ownership to access (resale and experiences), from logos to narrative (identity, culture and community), and from rupture to intergenerational transmission. A dedicated section examines emotional ties to brands and argues that younger generations’ attachment is not disappearing, but becoming more conditional and distributed, shifting from brand love to brand like. The study compares generational expectations and proposes an attitudinal segmentation model and six personas for targeting. Its final section maps the cultural ecosystem shaping generations—music, film and television, entertainment, device use, alcohol and substances, and sport—and identifies the forces that cut across these areas. The research combines sociological and marketing literature on status consumption with recent market data from Bain-Altagamma, Deloitte, McKinsey-BoF and Visa. It also compares regions, highlighting how the centre of younger demand is shifting towards India, Southeast Asia and the Gulf, while China and Europe are readjusting.
OPEN THE STUDY ↗02 · LUXURY · MARKET · 2026-10-13
BY FRANCESCO LAERA
Why stable sales can conceal a growing acquisition burden, and what a brand can do to ease the pressure.
Abstract
A nearly flat market can conceal costly customer churn. Replacing those who stop buying often takes more acquisition, time, and investment than aggregate sales figures suggest. This essay argues that luxury brands should understand why customers leave, make the value they offer more tangible, and protect the quality of the boutique relationship. An illustrative calculation shows how churn adds pressure; the implications reach product, budgets, and the work of client advisors.
OPEN THE STUDY ↗03 · AI · LUXURY · 2026-10-15
BY FRANCESCO LAERA
GEO in luxury: govern the sources, not the answers
Abstract
When someone asks an assistant which house best expresses a particular style or which product to choose, the brand enters an answer it does not control. The problem cannot be solved by repeating keywords or trying to steer the model: it requires understanding which sources and signals shape its account. This paper argues for shifting GEO from control of the output to governance of the information ecosystem, through a method of listening, correction and measurement. It also distinguishes studies with different samples and definitions, and proposes a comparative experiment that remains to be conducted.
OPEN THE STUDY ↗04 · AI · LUXURY · 2026-10-15
BY FRANCESCO LAERA
What is already in force, what has moved and how luxury houses can build practical AI governance
Abstract
The postponement of requirements for high-risk systems does not suspend the AI Act: prohibitions, duties for general-purpose models and transparency rules already apply, while new deadlines arrive in December 2026. For luxury houses, compliance cannot stop at legal advice; it requires an inventory of systems, clear ownership and security controls built into processes. This article sets out the updated EU timeline, distinguishes provider and deployer roles, and proposes a practical 90-day programme, with attention to incidents that may involve privacy, cybersecurity and AI.
OPEN THE STUDY ↗05 · AI · LUXURY · 2026-10-15
BY FRANCESCO LAERA
LVMH, brand autonomy and a new operating model
Abstract
Artificial intelligence is not a responsibility that can be assigned once and for all to IT, marketing or HR: it changes processes, decisions and customer relationships. The LVMH case illustrates the value of a shared platform that supports the work of its maisons without replacing their identities or judgement. The analogy with wealth management helps us imagine an augmented advisor, but does not justify importing financial recommendation logic into luxury. For groups and independent houses alike, the challenge is to distinguish what should be built together from what must remain specific to each brand.
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