Designer reshuffles pose risks for luxury fashion

A model presents a creation by Chanel at the Grand Palais in Paris. The brand is bringing in Blazy after his successful run at Kering’s Bottega Veneta. — AFP

A SLUMP in luxury fashion is prompting designer reshuffles at top houses Gucci, Chanel and Dior to reignite heat around their brands – while avoiding too radical a reset that could confuse affluent shoppers.

The stakes are high, as the €363bil (US$395.09bil) global luxury goods market grapples with its lowest sales rates in years after an economic slowdown in China and rising inflation elsewhere make high-end consumers more reluctant to splash out.