From Florence to Bologna: The Luxury Industry Is Sending a Clear Signal
- Marion Heil
- 1. Apr.
- 3 Min. Lesezeit
Aktualisiert: vor 2 Tagen
A few weeks ago I wrote about the bigger picture of the Great Reset in the luxury sector - falling margins, shrinking consumer bases, and a wave of leadership change at the top (Luxury's Great Reset Needs Great Leaders).
The trade show calendar of the past two months has been confirming that story from every angle, and the signals are consistent.
The luxury industry trade show calendaris sending consistent signals - falling margins, shrinking customer bases, a wave of leadership changes at the top.
Pitti Uomo in Florence (January) set the tone: 700+ menswear brands under the theme "Motion." Not movement as in speed - movement as in adaptability. Tailoring that works on a plane and in a boardroom. Technical outerwear that looks at home in the city. The message was quiet but clear: menswear is recalibrating toward longevity and real-world use, away from spectacle.
MICAM and MIPEL in Milan (February) told a similar story for footwear and leather goods. The Italian leather goods sector saw a 4.9% turnover decline in 2025. But the sentiment on the floor was cautiously optimistic - "business has been tough, but we expect 2026 to be better, especially the second half," said the Mipel president. The two fairs also visibly reinvented themselves with a new joint layout, signalling that even trade show formats are being reset.
And last week (March), Cosmoprof Worldwide Bologna - 3,000+ exhibitors, 255.000 visitors, the beauty and fragrance industry in full display. Three things stand out from what I'm reading:
K-Beauty is no longer just skincare. Korean brands are expanding aggressively into fragrance, home scents, and haircare - with packaging and price points that are converting Gen Z at scale. This is a category redefinition, not a trend.
Beauty tech is becoming real. AI-powered skin diagnostics, personalised formulations, at-home clinical devices. What felt like a trade show novelty two years ago is now a viable commercial proposition. The question for brands is no longer whether to invest, but who leads that agenda without losing the emotional core of what beauty is.
Wellness and beauty have fully merged. Microbiome skincare, neurocosmetics, hormone-balancing formulations… And the list goes on and on. Consumers are no longer separating how they feel from how they look. Brands still thinking in product categories are already behind.
What does any of this have to do with executive search?
Everything, actually. Each of these shifts - whether in menswear, leather goods, or beauty - requires a different kind of leadership. Someone who can run a rigorous supply chain AND build cultural relevance with a Gen Z consumer. Who understands biotech AND knows how to position a fragrance. Who can execute at scale AND stay close to what makes luxury emotionally compelling in the first place.
Each of these shifts requires a different kind of leadership.
That profile is rare. The brands that find it now, across the luxury, premium, and lifestyle tiers, are the ones that will define the next cycle.
Coming up: Watches & Wonders in Geneva in April. My prediction is the same story again - craft, restraint, and the quiet question of who is going to lead these houses into the next chapter.
ABOUT THE AUTHOR
Marion Heil is the founder and managing director of Board+CEO Advisors, a Vienna-based executive search and board advisory boutique. She advises listed companies, family businesses and investors on C-suite and supervisory board appointments across DACH and CEE. She also has a declared weakness for the luxury and premium sector, which she insists is purely professional.
