What Luxury's Winners Are Getting Right

The global fashion industry is a $2.5 trillion economic engine, and yet in the corridors of Washington and high finance, it's often treated as a sideshow. This week I was in DC at Semafor World Economy, listening to conversations about AI and genomics and energy — and arguing that fashion is actually one of the best barometers we have for where the global consumer is heading. Because the luxury landscape is being reshaped in real time. This week LVMH reported that its fashion and leather goods division contracted by 2 percent in the first quarter. Kering's group revenues were al...