{
  "docId": "019dd923-5de0-76bd-a168-25df5078d284",
  "docSlug": "1c0f38bd7d7cf46f",
  "documentTitle": "The State of Luxury January 2025",
  "authorId": "McKinsey",
  "authorName": "McKinsey",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.778,
  "pageNumber": 8,
  "pageCount": 25,
  "prevPage": 7,
  "nextPage": 9,
  "slideType": "industry_trends",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 7,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "icon_grid"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5de0-76bd-a168-25df5078d284/8",
  "deckHref": "/decks/019dd923-5de0-76bd-a168-25df5078d284",
  "deckJsonHref": "/decks/019dd923-5de0-76bd-a168-25df5078d284.json",
  "deckAnchorHref": "/decks/019dd923-5de0-76bd-a168-25df5078d284#slide-8",
  "components": [
    {
      "bbox": {
        "h": 0.35,
        "w": 0.18,
        "x": 0.42,
        "y": 0.24
      },
      "kind": "list",
      "text": "Distribution expansion: Omnichannel expansion and increased digitization have led brands to blend digital and physical experiences, while expanding store footprints, particularly in the Americas (+6%), East Asia (+5%), and Greater China (+3) in 2019-23",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7f75db2b-a90a-4ed5-9607-cdabba3116a8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.18,
        "x": 0.23,
        "y": 0.24
      },
      "kind": "list",
      "text": "Scaled-up operations: Several luxury brands have doubled in size since 2019, demanding substantial upgrades to their supply chains and operating models (e.g., increased process sophistication and focus on sustainability).",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9327f6f8-653e-4973-8af1-cc0d294f89f2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.18,
        "x": 0.8,
        "y": 0.24
      },
      "kind": "list",
      "text": "Talent reshuffling: While some brands shifted away from brand heritage towards individual creative directors' vision, the luxury C-suite saw talent reshuffle. Among the top 15 global personal luxury brands, 10 new CEOs have been appointed in the last three years.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d5184236-87c7-40d4-852f-1f82616cedc6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.18,
        "x": 0.04,
        "y": 0.24
      },
      "kind": "list",
      "text": "Megabrand acceleration: The industry saw increased polarization, with \"megabrands\" that generate over €5 billion ($5.3 billion) annually growing sales at +11% per year, outpacing the broader market at +5% from 2019 to 2023.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e06ef66e-7fd2-4a95-ad3c-406ebd8c0054",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.18,
        "x": 0.61,
        "y": 0.24
      },
      "kind": "list",
      "text": "Luxury products in question: Concerns are growing in the luxury industry as rising prices and a focus on heritage/safe designs are leading to a lack of creativity and excitement. Price increases along with reports of quality issues, have prompted consumer dissatisfaction.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fb2fa0b1-6693-4c7f-8a20-f6cf70205ad4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.18,
        "x": 0.23,
        "y": 0.75
      },
      "kind": "metric",
      "text": "2x",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "098dfae2-cd7f-4f31-a2a0-53d13f65d09e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.18,
        "x": 0.61,
        "y": 0.75
      },
      "kind": "metric",
      "text": "36%",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "581082a8-7074-45cd-832c-2ca2397b0c22",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.18,
        "x": 0.04,
        "y": 0.75
      },
      "kind": "metric",
      "text": "2x",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "731f677f-5e8b-471a-98e5-70af39bd9a73",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.18,
        "x": 0.8,
        "y": 0.75
      },
      "kind": "metric",
      "text": "10/15",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "81ad8bdd-f276-4819-9c48-99846d354b19",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.18,
        "x": 0.42,
        "y": 0.75
      },
      "kind": "metric",
      "text": "+6%",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d3cfdc57-bdfa-4f3e-8f54-ae08e75f3859",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Growth rate: 11%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd951-cded-738a-abac-b5aec3438419",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.92,
        "x": 0.04,
        "y": 0.17
      },
      "kind": "paragraph",
      "text": "INDUSTRY SHIFTS",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "86e42b9c-4222-41c7-b34d-e7b118727e4c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.78,
        "x": 0.04,
        "y": 0.06
      },
      "kind": "title",
      "text": "10 themes have shaped the luxury industry in recent years (1/2)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4209cc36-f4f1-4531-bcf2-9d6a74eaa769",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [
    {
      "metricRaw": "Growth rate",
      "numberRaw": "11%",
      "numberKind": "percent",
      "actionTitle": null,
      "calloutText": null,
      "numberScale": null,
      "numberValue": 11,
      "metricFamily": "growth_rate",
      "numberCurrency": null
    }
  ],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "8d94a19f-fa3a-4979-8d1c-156030c8d82d",
      "evidence": "This slide has a list/bullet with 4 items, which is a clear list presentation",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 15,
      "from": 6,
      "beatId": "d5347fc9-9c03-4bfa-80a3-0d454ee9f944",
      "arcName": "The Sparkline",
      "arcSlug": "sparkline",
      "beatName": "What Could Be",
      "beatSlug": "sparkline-what-could-be-2",
      "evidence": "The document then explores the challenges and trends shaping the industry, including changes in client preferences and growth dynamics.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}