Projected to reach $29.9bn by 2032, the luxury fragrance market is one of the most nuanced. With no dedicated jargon to speak of, borrowing language from botanics (floral, herbal), music (notes, accords) and architecture (base, top, etc), perfumery is steeped in the art of storytelling. And when it comes to branding these chemical poems, the stakes are seductively high.

Was the boom in demand for high-end watches during the pandemic a “once-in-a-generation event”? Arjen van de Vall, CEO of Watchfinder says it was “almost a hype that I would compare with cryptocurrencies, and to some extent whisky and luxury cars”, but recent profit misses from WOSG and Swatch could suggest the boom has come to an end.

Funding for startups that use artificial intelligence — and particularly generative AI — is booming, with more than 400 AI companies raising funding in 2023 equating to overI $21bn globally. With investons now well-versed in generalist AI tools such as Chat GPT, they are now looking at individual industries to find, and fund, the AI tools that will help solve specific problems.

Saudi Arabia has seen a recent emergence onto the global travel stage, with the previously off-limits destination now drawing curious travellers globally, keen to explore ancient ruins, captivating landscapes and incredible diving in the Red Sea.

France is pressing ahead with a ‘game-changing’ bill that would impose a ‘sin tax’-style penalty on fast-fashion products as high as €10 per item by 2030. In a move that reflects the growing scrutiny of fashion’s climate impact, Business of Fashion investigates how it might work and which companies may be at risk.

Valued at just over $350b (with a projected 4.7% growth rate sending that number to $482b by 2030), the global jewellery market’s sparkle is yet to dim. Chosen for their long-term potential, Matter Of Form crystallise seven shifts – from modern heirlooms and conscious carats to culture drip and gems cut by AI – for bold brands wanting to play.

The luxury landscape in the GCC continues to excel, with a raft of high-profile hotel openings on the agenda for 2024. All eyes are on Saudi Arabia’s ambitious Red Sea project, as the world’s leading brands converge on the strip of coastline for what promises to be an awe-inspiring new destination.

With over 750 million active users, Douyin, TikTok’s Chinese counterpart, has become a key growth vehicle for luxury brands in a critical market. In this article, Vogue Business explores the trends luxury brands are drawing on to cater to the three types of luxury consumers using Douyin: core, prospective and aspirational.

Store openings and events in so-called second- and third-tier cities across the world gained momentum during the pandemic, when luxury brands had to stimulate domestic demand to make up for the absence of tourist spending in the usual major hubs. However, the trend does not show any sign of abating.

Generative AI has become all the rage on the business side of fashion, but fashion’s creatives are still rather tentative about using AI-informed text and image-generation tools in the creative process. While some brands have proactively tested the technology to generate creative works, others have begun testing uses, such as marketing and clienteling, that are less directly tied to their products.

As luxury industry’s growth slows in the coming year, the market’s elite brands are expected to outperform those favoured by aspirational buyers, who helped drive the multiyear luxury boom but are now retreating under inflationary pressures.

Recent findings from the Business and Human Rights Resource Centre suggest that economic instability, climate change and conflict are contributing to an increase in forced labour risks, with luxury brands in particular failing to protect workers in their supply chains.

Uber-influencer Chiara Ferragni is being invstigated for serious fraud, and among other claims, has just been fined €1 million for falsely claiming proceeds from her social media account were helping sick children. Is this a broader warning of shifting winds and a potential blow to the estimated $250bn influencer industry?

It’s not just sports superstars sitting front row at fashion week. Today, luxury labels are looking to work with emerging athletes from niche sports, giving rise to new dealmakers who match brands with eager skateboarders, boxers and rugby players.

Demand for luxury goods is slowing as the post-pandemic spending boom dies down, hitting heavyweights such as Kering and LVMH while prompting concerns about an overhang of inventory. While some luxury brands have been bucking the trend, Burberry’s recent profit warning highlights just how significant the impact of subdued demand has been on others.

As the likes of LVMH and Bottega Veneta cut their teeth on artisanal schooling, Matter Of Form looks at the reasons behind luxury’s heightened focus on human-made in an era of automation – alongside how craft has returned to the fore of commerce and culture in the digital age.

While our New Year’s Resolutions are still fresh on our minds, wellness remains a priority for most. Gone are the days when a juice cleanse and new gym membership were the accessories du jour for January and February. These days, wellness is a yearlong pursuit, as evidenced by the rise in wellness tourism.

With holiday shopping in full swing, new virtual branded stores have unveiled ski slopes, chocolate wonderlands and trips to the French alps, but with a gaming twist, encouraging consumers to stay in-store longer and get educated on the brand.

Isabel Tapp, Founder of LCC GCC Collective, outlines the trends she expects to see in luxury events in 2024.

With growth of the personal luxury sector projected to be more muted in 2024, those brands with resilience, relevance and renewal, will separate themselves in 2024 as customers approach with more cautious optimism than the post-pandemic years.