The IADS attended a webinar organised by the University of St Gallen on the luxury industry's resilience through economic cycles. Guest speaker Dr Frank Müller, programme director and lecturer of luxury management at the Institute for Marketing and Customer Insight – St Gallen, presented findings from a comparative analysis of 19 macroeconomic variables against the sales of 29 high-end brands between 2001 and 2023.

The key takeaway: macroeconomic indicators are a poor basis for short-term luxury forecasting. While long-term revenues broadly track GDP trends, year-over-year performance is driven by brand-specific variables—management decisions, product focus, and regional dynamics. Dr Müller argued that the four growth "mega boosters" of recent decades have run their course, and called for greater strategic discipline: sharper segmentation, AI-assisted demand planning, and a clear commitment to high-end positioning as mid-market disruption intensifies.

University of St Gallen – Webinar: "Is luxury recession-proof? What data says" – IADS report