Global Powers of Luxury Goods 2023

Luxury goods companies have not only rebounded to pre-pandemic profitability levels but are also undergoing a significant transformation towards an environmentally responsible, circular economy business model. This shift is driven by customer demand and increasing regulatory pressure, and technology is playing a crucial role in accelerating this green transition. The luxury industry, synonymous with exclusivity, craftsmanship, and innovation, is embracing cutting-edge digital technologies like Artificial Intelligence, machine learning, and the Internet of Things. These innovations are not only reshaping customer experiences but also revolutionizing sustainability, supply chains, and product authenticity.