Luxury industry: at crossroads or just waiting for the next boom?

"The current state of the luxury industry: at crossroads or just waiting for the next boom?" was the title of the Executive Talk with Claus-Dietrich Lahrs. On 12 January, the former CEO of renowned luxury fashion brands, including Louis Vuitton and Hugo Boss, discussed the many challenges facing the industry with students, alumni and friends of Frankfurt School.

In his presentation, Claus-Dietrich Lahrs spoke about how the luxury fashion industry is dealing with current difficulties in the sector, such as the decline in demand in some regions, in comparison to other clothing companies. He also used the example of LVMH, one of the world's largest conglomerates, to explain whether the size of the company is more of an advantage or an obstacle to branding, innovation and supplies. Mergers and acquisitions are common practice in the fashion industry. Claus-Dietrich Lahrs also experienced these during his own career and was therefore able to report from his own experience how the many M&A activities can be explained. He also gave valuable advice on how to start a career in the fashion industry. The great interest of the audience was reflected in the many questions that were asked. For example, what the future of luxury brands in the metaverse could look like.

Claus-Dietrich Lahrs began his career in the luxury goods industry as a marketing manager at Cartier before joining LVMH, where he became President and CEO of Louis Vuitton in North America in 2000. His subsequent positions took him to Paris as Managing Director of Christian Dior and later back to Germany as CEO of Hugo Boss. In 2016, he took up the position of CEO of Bottega Veneta, and in 2019 he became CEO of the s.Oliver Group.

The event took place as part of the MBA Executive Talk Series and offered participants the opportunity to learn first-hand from an industry expert. The subsequent get-together provided plenty of space for networking and further dialogue.