|
Whether on Bond Street in London or Fifth Avenue in New York, the foot traffic in luxury boutiques is noticeably softer.
One Tuesday at 5pm, I found myself the only customer inside Miu Miu’s New York flagship.
Nordstrom’s Santa Monica store, once a central hub for locals and tourists, has recently closed its doors.
What struck me most were the personal stories. Many senior leaders, once loyal luxury clients, have lost their jobs, and it’s taking them much longer than expected to find the right next role.
All signals indicate a continuously challenging market in Q4 2025, which is expected to persist into 2026.
|