Luxury brands seek to lure America's AI super-rich
Brands are targeting affluent U.S. shoppers as Richemont reports 18% Americas sales growth and North America leads global luxury store openings.
- European luxury brands are aggressively expanding into the United States with high-profile store openings and fashion shows to capture wealthy American consumers. Italian brand Zegna will present its Summer 2027 collection on Friday in Los Angeles.
- Consultancy Bain describes a 'two-speed world' as the United States grows while Europe struggles with the ongoing Iran war. American consumers remain more resilient than their European counterparts, driven by healthy wage growth and the AI rally.
- North America took the top spot for new store openings last year, accounting for about 27 per cent of global luxury retail expansion. Cartier owner Richemont saw sales grow 18% in the Americas from January to March, marking nine consecutive quarters of growth.
- Moncler plans to open its largest global flagship store on New York's Fifth Avenue this year, following recent openings in Aspen, Valley Fair, and Dallas. Hermes also plans to open in the Plaza del Lago shopping centre in Wilmette this summer.
- Many brands still view the U.S. as 'unpenetrated relative to the scale of its wealth base,' according to Savills, indicating significant untapped potential. Morgan Stanley analyst Edouard Aubin cautioned that the sector still requires China to improve for a full global recovery.
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European luxury brands seek to lure America's super-rich
European luxury brands have sharpened their focus on the United States, with a surge of store openings and fashion shows to lure a new crop of wealthy shoppers enriched by the AI and tech boom and offset weak consumer confidence in the rest of the world. After two years of contraction, the luxury goods sector was showing signs of stabilisation until the Iran war that began at the end of February, disrupting travel and denting luxury spending far…
Asharq AL-awsat
Luxury Brands Seek to Lure America’s AI Super-Rich
European luxury brands have sharpened their focus on the United States, with a surge of store openings and fashion shows to lure a new crop of wealthy shoppers enriched by the AI and tech boom and offset weak consumer confidence in the rest of the world. After two years of contraction, the luxury goods sector was showing signs of stabilization until the Iran war that began at the end of February, disrupting travel and denting luxury spending far…
Luxury brands seek to lure America's AI super-rich
European luxury brands have sharpened their focus on the United States, with a surge of store openings and fashion shows to lure a new crop of wealthy shoppers enriched by the AI and tech boom and offset weak consumer confidence in the rest of the world.
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