Oct 8, 2026 · 15 min
Luxury’s biggest houses lose momentum as Gucci faces a leadership test
Gucci and Louis Vuitton’s Haute Mess
The episode connects fashion’s creative decisions to a broader luxury slowdown that is testing Gucci, Louis Vuitton, and Kering’s new leadership.
- 1Prada and Chanel show how ambitious runway concepts can still translate into commercial appeal during a difficult economy.
- 2LVMH and Kering face slowing post-COVID growth, with Dior improving while Louis Vuitton struggles to generate momentum.
- 3Gucci’s prolonged decline gives Kering CEO Luca de Meo an early test as he prepares to make major leadership decisions.
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The episode identifies Gucci’s prolonged decline as Luca de Meo’s first major test at Kering, with future creative leadership changes looming.
The brief
Lauren Sherman and Peter Hamby begin with fashion week’s strongest shows, arguing that Prada and Chanel pair high-concept ideas with the commercial discipline the market now demands.
The conversation then turns to designer turnover and brand uncertainty, including the pressure on new creative directors and Balenciaga’s unclear direction under its current leadership.
Sherman frames the luxury slowdown as a portfolio-wide problem: Dior is improving, but Louis Vuitton lacks momentum and LVMH and Kering face weaker post-COVID growth.
Gucci’s prolonged decline becomes the episode’s central leadership test, with Luca de Meo inheriting current creative directors and facing upcoming decisions, including at Saint Laurent.
The broader takeaway is that luxury houses need both a compelling creative point of view and a credible commercial engine as growth becomes harder to sustain.