Consumer, Retail & Leisure
Leadership And Luxury: Who Will Lead The Next Era?
5 min read
Insights from three key markets reveal the skills and strategies boards of luxury brands need now.
The global luxury retail and experience market is a powerhouse, with revenue projections of €1.44 trillion in 2025. In a sector where exquisite detail and fastidious customer standards are only part of the story, profound shifts driven by changing consumer values, economic pressures and digital transformation are reimaging leadership expectations and their organisations.
The luxury markets in France, Austria and South Africa offer unique vantage points on global trends, from experiential luxury and cultural heritage to digital innovation and market dynamics.
Our experts, Michael Ludwig, Stephen Fredericksz and Catherine Fleuriot, share their insights on the luxury sector and how boards can manage the shifts to deliver lasting impact.
Uncertainties Disrupting Luxury Retail & Experiences
Ultra-High-Net-Worth (UHNW) clients, who account for 30–40% of global luxury revenue, are redefining luxury markets as their focus shifts to extraordinary experiences over material goods, from travel and gastronomy to art and wellness. As Michael Ludwig noted, Austria provides a natural fit for this experiential turn: “Austria embodies these values exceptionally well, with its rich culture, warm hospitality, high quality of life, as well as deep-rooted art and craftsmanship traditions.”
However, brands face mounting challenges: economic uncertainty, rising price sensitivity, supply chain stress, talent shortages and the need to embrace sustainability and inclusivity.
Younger generations, particularly Millennials and Gen Z, demand transparency and digital ecosystems that deliver emotional engagement.
In Sub-Saharan Africa, macroeconomic instability and consumer financial pressures have dampened confidence, yet opened doors for innovation. Stephen Fredericksz explained: “Consumers are also moving toward accessible luxury and experiences, with local designer brands becoming competitive players, and the pre-owned luxury market experiencing a boom. Digital e-commerce platforms and AI-driven personalisation are now essential for competitiveness.”
South Africa remains a market leader on the continent, with the highest number of luxury stores in Africa; major shopping centres like Sandton City’s Diamond Walk and the V&A Waterfront are driving luxury retail growth.
Globally, however, growth is slowing, forcing brands to rethink both product offerings and customer experience.
Catherine Fleuriot emphasised: “Luxury companies must align with evolving expectations while improving operational performance. This means hiring the right talent for transformation.”
Redefining Leadership Expectations
Luxury leaders must navigate uncertainty with agility, embrace technology and inspire transformation, all whilst maintaining brand prestige.
In Austria, adaptability and vision are critical. Michael explained: “Leaders need to articulate a clear, data-driven vision while staying flexible, empowering teams to innovate and embedding openness to change.”
Across Sub-Saharan Africa, leadership demands emotional intelligence, cultural fluency and a deep understanding of evolving consumer behaviour. Stephen noted: “The ability to lead through uncertainty now means balancing short-term performance with long-term brand building, while mastering digital innovation and managing hybrid teams.”
In France, operational excellence and tech integration are front and centre, as Catherine explained: “As an example, Luca de Meo, CEO of luxury French group, Kering, has a strategy which places ‘the customer back at the centre so as not to depend solely on the vision of the creative director’, meaning that the majority of the product line-up will be curated based on market data, understanding customer expectations and respect for the brand platform.”
Thriving In Uncertain Conditions
The common thread is leaders must combine strategic foresight, digital fluency and human-centric leadership to flourish in a sector where disruption is daily.
Odgers helps clients identify and develop world-class talent who can lead amid uncertainty by blending global market intelligence with deep leadership expertise. We assess agility, resilience, and strategic foresight - whether benchmarking external candidates or evaluating internal talent - to ensure future-fit leadership.
Advice For Boards:
- Act swiftly, look beyond your immediate industry, and engaging in cross-sector exchanges.
- Prioritise long-term value creation by investing in brand equity and talent to drive enduring growth.
- Rigorous project management combined with systematic tracking of operational performance is vital.
- Encourage diverse viewpoints and a culture of open dialogue to foster innovation.
- Invest in leadership development, upskilling and succession planning.
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We understand the impact of appointing the very best talent, both on organisational transformation, and the lives of those associated with them.
With 59 offices in 33 countries, Odgers' deep industry expertise combined with global reach and local nuance, builds transformational leadership teams with world-class talent.
Get in touch. Follow the links below to learn more, or connect directly with our dedicated executive search experts and Consumer, Retail & Hospitality leadership consultants at your local Odgers office here.
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