Luxury Brands Seek Runway Boost Amid Slowdown

Luxury brands enter Milan and Paris Fashion Weeks with LVMH shares down 37% since the start of 2026 and Kering shares having erased all gains since Luca de Meo became CEO a year ago. Runway shows can cost as much as €10 million. Diego della Valle told reporters in Milan on Friday: "I believe this year and next year will likely be a holding period while the market stabilises and becomes more predictable again." Federico Bazzani of Deloitte told Reuters fewer than half of brands are growing and that brands must invest in innovation and customer experience or revise pricing and accept lower margins. David Watts said brands do not want to reduce prices because that says they were overcharging and loses margin, but do not want to reduce production because that hits revenue. Renzo Rosso said Monday: "Consumers are changing." Prada, Moncler and Brunello Cucinelli reported H1 2026 growth, with Prada organic retail sales up 3.3% to 1.62 billion euros. Andrea Guerra called that performance "fantastic, of constant growth and expansion." Camera della Moda forecasts Italy fashion sales down 1.6% to 91.4 billion euros in 2026. Prada opens Milan Fashion Week Tuesday; Paris begins September 28; Chanel shows October 5.