Luxury sector faces retention crisis as demand weakens.

Luxury sector faces retention crisis as demand weakens. Saint Laurent's chief executive Cédric Charbit acknowledged at the FT's Business of Luxury summit that luxury brands must strengthen efforts to retain aspirational shoppers. The admission signals growing challenges within the luxury market as consumer spending patterns shift. Charbit indicated that Saint Laurent itself has not adequately maintained relationships with certain customer segments amid broader sector headwinds. The comments reflect wider industry concerns about sustaining growth in an increasingly competitive market where aspirational buyers are becoming more selective. Luxury houses are reassessing strategies to reconnect with mid-tier consumers who drive significant volume. The sector's ability to adapt pricing, accessibility, and brand positioning will determine recovery trajectory in coming quarters.