Zalando and CNMI name luxury 'changemakers', call out value of authenticity, quality
First those honorees. Francesca Bellettini, deputy CEO of Kering, was named in the 'Brand Vision' category and she emphasised 'proactive versus reactive approaches'. She shared her perspective on 'the distinction between a compelling brand vision and a good strategy and how to ensure a vision drives culture, innovation, and longevity across Maisons'.
Meanwhile Prada Group chief marketing officer and head of corporate social responsibility Lorenzo Bertelli was recognised in the Innovation category. He talked about the group's 'diverse approach to innovation', including initiatives from the Sea Beyond programme dedicated to ocean literacy and R&D in the aerospace sector.
Tod's Group president Diego Della Valle was hailed in the category Craftsmanship and emphasised 'the enduring significance of 'Made in Italy' for Tod's, highlighting its continuous evolution within a modernising industry'. He provided examples of how Tod's 'balances its rich heritage with contemporary advancements, integrating new technologies and materials while preserving its artisanal foundations'.
Others honoured included Giuliano Calza, creative director of GCDS with the founders and creative directors of Sunnei, Simone Rizzo and Loris Messina in the New Gen category. They talked about the relationship between fashion and new generations 'thanks to the creation of cultural moments that go behind the runways'. They discussed 'the motivation behind their projects, the capacity of balancing creativity and commerciality and the importance of the designer's personality on the brand's identity'.
As for the insights presented at the event, Bain 's top luxury expert Claudia d'Arpizio emphasised that brands 'need to reaffirm the foundations of luxury and intentionally shape the industry's future'.
While the demand for luxury 'remains strong, its next frontier is yet to be uncovered,' she said. 'To seize this opportunity, brands must return to the fundamentals — anchoring their promise in quality, exceptional craftsmanship, and the power to inspire dreams, all while removing barriers to access. The true challenge for the future of this industry lies in reigniting the emotional pull of luxury for consumers, while deliberately transcending traditional business boundaries'.
And she called out five key focus areas that include reshaping market boundaries through the blurring of spending between goods, services, and experiences; redefinition of competition by both incumbents and tech-fuelled insurgents; shifting customer behaviours; the evolution of the distribution landscape; and the need to safeguard the luxury supply ecosystem 'amidst uncertainty, volume reduction, and a growing focus on sustainability'.
Highsnobiety founder and CEO David Fischer also presented the media brand's new white paper, Luxury Redefined: Stop selling the dream, start fitting into reality. The findings include 'the shift from aspiration to relevance, where cultural fit now outweighs the traditional dream-selling approach, and the renewed importance of product quality and craftsmanship over superficial marketing. Fischer emphasised the increasing value placed on legacy and archival storytelling, contrasting with the diminishing appeal of fleeting novelty'.
He explained that the report shows 'a fundamental shift: 71% of core luxury consumers say the definition of luxury has changed in the last five years. Today's consumers seek cultural authenticity and tangible quality; they value brands that embed themselves in the real world with compelling legacy storytelling and immersive experiences, rather than betting on fleeting novelty. Luxury is moving decidedly from aspiration to relevance, from selling a dream to embracing reality'.
Finally, Zalando's VP designer Lena-Sophie Roeper and director of product management Brian Kim, 'addressed the challenges facing the luxury sector, such as a perceived disconnect with customers and the evolving, non-linear paths to purchase'.
They highlighted Zalando's 'commitment to innovation, not through technology as a standalone solution, but as an enabler of a holistic, seamless, and curated customer experience. Zalando showcased the solutions to bridge offline and online experiences and deliver personalised, immersive storytelling'.
Roeper also said that 'the once captivating luxury space now feels fatigued, leaving customers yearning for deeper connection and meaning'.
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Fashion Network
4 days ago
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Kering's François-Henri Pinault steps aside, remains board chairman
François-Henri Pinault, 63, who has been at the helm of luxury group Kering since 2005, will step aside and relinquish the operational running of the group founded by his father François. In recent years, Kering has been negatively affected by the woes of its leading label, Gucci. At the end of April, Pinault said that Kering's 'fundamentals' were 'solid.' But 'the international situation is having an effect' and the 27% nosedive of the group's share price since the start of 2025 'primarily reflects our negative performance, chiefly at Gucci, our leading label' ahead of Saint Laurent, Balenciaga, Bottega Veneta and Boucheron, Pinault added. Kering has made official in a press release that current Renault boss Luca de Meo will join the group as its new CEO, while Pinault will remain as chairman of the board of directors. Pinault was born in Rennes and is the youngest son of François Pinault, a timber merchant who became one of France's most powerful businessmen. François-Henri cut his business teeth at the family company, Pinault- Printemps -Redoute (PPR, which became Kering in 2013) after graduating from the HEC business school in 1985. He has worked as a salesman at Pinault Distribution, was the managing director of France Bois Industries, then in 1993 became the president of CFAO, a subsidiary active in pharmaceuticals and automotive distribution in Africa. He then took charge of the Fnac retail chain, and in 2000 he was named deputy managing director of PPR. At the time, François Pinault had recently bought a 42% stake in Gucci, snatching the Italian label from his eternal rival Bernard Arnault, boss of LVMH. The group's new lean towards luxury was confirmed by the subsequent acquisitions of Yves Saint Laurent, Sergio Rossi, Boucheron, Bottega Veneta and Balenciaga, while PPR remained the owner of mass-market retailers Fnac, Conforama, Printemps, La Redoute and Surcouf. In 2001, François Pinault elevated his son's position by calling him to his side as co-CEO of Financière Pinault, the holding company that ruled his empire. And in 2005, aged 43, François-Henri, an aficionado of new technology and football found himself alone at the helm of the family conglomerate founded in 1963. His first name was François, and he decided to add to it his third name, Henri, to distinguish himself from his father. New focus on luxury 'I was faced with a key question: Should I leave things as they had been under my father, or take a new direction? PPR owned an eclectic set of companies. The group had to be more international, and more profitable. I therefore focused on the luxury fashion and accessories segment, which had great potential for long-term growth,' François-Henri told the Harvard Business Review in 2014. Something of a Daniel Craig lookalike, FHP, as he is known within the group, then decided to sell off the group's mass-market businesses. He also veered towards sportswear, and in 2007 he bought Puma for over €5 billion. However, the German sport equipment brand didn't live up to expectations, and François-Henri sold it off in 2018. 'François-Henri Pinault wanted to do things his way and target a younger clientèle, but it didn't work. Coming to terms with this setback was hard, but he smartly decided to back down,' said Arnaud Cadart, portfolio manager at Flornoy, talking to AFP in 2021. Having refocused on luxury goods, the group initially benefited from the growth of its flagship label Gucci. But in the early 2020s the Florentine label ran out of steam, and its revenue has been plummeting since. In 2024, Gucci recorded a 23% slump in revenue, and the early 2023 appointment of a new creative director, Sabato De Sarno, failed to revive its fortunes. In March this year, De Sarno was replaced by Georgian designer Demna, until then at Balenciaga. In 2021, Cadart believed that François-Henri had 'made a name for himself and had successfully expanded on his legacy, fighting very strong competitors like LVMH, Hermès and several independent Italian labels,' but that the group was still missing 'another major, transformative acquisition' as his father's purchase of Gucci had been. In 2023, Kering bought perfume brand Creed for an estimated €3.5 billion, and in 2024 it acquired a 30% stake in Valentino. François-Henri Pinault married Mexican actress Salma Hayek in 2009, and they have four children.
