Research
January 13, 2016
Image courtesy of Michael Kors
By Forrest Cardamenis
For the first time since the economic crash in 2008, many top luxury CEOs are worried about the state of the industry, according to the Luxury Institute.
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OqMbwQi+tY++cFZreD8STL8NQQLrYCbEUrtQiEdIlLYx49o7L6b8m8+JjMk6RHkv6sDYKrL0DjYAJGowlgsi9lfRLT6G8AiiUa9Hq2pCnHFVZkqZjqdJQhJsUphmTbH4Tja4a\/S4aa1RgrC9LCpYW7jQYfNAokGRI2FZ\/W5yD9gKABcg97oLrQsOUzhZkkuurbPVbu3iJQrCikqzu4M1YgpP9DNr4knLwor\/crUffNXdbr5\/eFRcIV8hZLnUOnGl6dWikj\/AGHjfAGTm2zTlwWeXuc6\/LCScjnkI8iZrRmzNfzEAE0hV1Lm0j45SRMbtWCPBeVSTCX1WHhtS+Kln+XuaNeYzyvn7XWaFeLZpuX2P9TcWo2CCqyE2wsYw3g3mvcXJQ\/pXvbbVHPVF7a\/bsE6pJI1SWQPFtVv8sLCaDVR7iSigYFz2fzZOG0NE5dZyibN6QONs8bzErfq8l8PPdQTdolFFcYJDm4BKHfNa3QyV3KoOkrez6BwDDYgLBuxut2e7\/+CVNCwSrMOifTlbQb1zWYHSd5iLTPyfDaejNKSD4\/G1tx8CXXeJakXOEWyApJADp9qvYX5wJ89zWlEar75pJ6eMn7xnnPujW\/dQgqGj\/bCsE4VIBdrhq4VMGktZb9NPE4y3sJIpjgMrF66gBUoVKfIDhHuioldr\/xEFdA5ZNGdQBBofJzMrZRxq3E8VX\/IB8fhiUaiFkFFEm3CZIIuv\/aC8Te1HVTRVHInaSe5QDRafRTEwl1h+VRykkOmK4hMyPovQnkoIB+GNf4BEPGnReL6jd\/ma5Q3O\/xQlJNiR6+sBgkK\/\/R8xvze0\/uiWgmICikv7UwTsooCn+Cwi48xIOGBFHmxxCMzqdtikdoNiDNhhSzsq0X3KDf16jV+aVtodbszl4bW39OhB6iGxZlMndp5WmTD31NtraxtoJa6ptC4n4hQfZn+5x6mxh\/BPSUP+a0nFUE0E697Kf1rJk9FTIoDaa3O7w8uIqN0LfswdFsrV8fkpGHLjZStb2kJ\/Kyn2yVStYZL+WTFoKOB4rSbRuGAeyrTvbXyZQIca6f09XaKJ2IaxzbCb1OGRe0vtUcPNYLwkp2pKYsDGYcUN\/LWrNJHsh17n5SQUYH9GHgVDLFi9SIfFa4u\/+nmZbKB5ZrOlREYskfldf037VJuto0VhbuQJ9rJf51Y4pk9zwHyJQBlWD9C8x+nWVkwcqw+BYrNk+BPIpE03zhhtSTp\/EeP1VEiizuBU06qvHCYw00d4uv1AHhFpDxGkxOwx+oNe3YScXd4dOTa6teBmTc\/Vz3m+cENbF5tjSKWF0JGSx1Y7L+3EMopaFR\/mFhZ0qL3QDMlmeHqwrhFYzAbUMkcuA14+JUi2DCda+CkY1Le6QsIZxzQa248hsznCpZo+XAzbwk5tQ5HrEn5x5STIj6ploXEJc156vj9mEPn\/hW6aAkwByQp9\/Q4gdh3S68LGodYzbr8HtkggUzEO1fo\/83aMFuLITz7mbuZyPar+PPTWhIVqjmgRq43mTJcueYMwbfKNJAYbR4F9yinNqfnCIui3wU7vSRg+V8ItoSK4SeB0u8RvJcGu+oB0Q6IfPyHL5o57J8zQlmsFdstcTfMuHwFQk4tx7oP9YuSb86JfxZpdcQbMtwbnc2IruOpVw3+Rdl6B5UpMEvPED6EqI08mRvGMIBxU+dExWReaK\/i4oykY6+WlcU2irSRuJXBnsh9\/9csw+QashzGErZJt82E3TmhwHyWdfyFeWV6J\/sIZKeHJqSfOBdE1cn7VTp61d0wmfv12wl6H0TYcotPjgqJKt5r51hE\/kX9z9GfwngyTVUAlb8A0NQRNZiF\/An4u91zS7lDHKX6pG4dWiVMxPZ6tnLzw66Hw6DSj5sj17K3ZOiksoyHp3KTBb6wAtAaqO9zr+elChiRxFMT+IhKCKNrz4WeCrc1D\/\/F\/VSm2UVUyspv5QVqs2rZEX6wwJqiOCIG7DbCK4GbwJpqPfRqkE4bfuBkBZX7KzqmfRyjGQai207lyn3iCELAmrPwzXJR16gOW2DkG2z2+D+4vWrO7gtwMFSwo7Oor4V7d3tVQyqfIY7W2EyZ3NPtMDf3W\/yzAtrIY9aueTqIiywzOLo7BFQMzdzFoI+TTxBHWTBWfsnLWGdNqQYiI05cEayfvy3sJJlXSQfwuAImfSI2K1o+NxjB3zNWyeXgOjWjkRGJlO7MMuxQSP+zHLWvotvjtdFz3oXeWbQEMhb8VR7MS1brFVth1tEFf823Qu\/xMyR6O\/2Atl7+5Nk\/5aI0o+Ah4Bpl5qAAvjCppJS4a9qjipzjW50\/GtGEItlZHORj8tFW4LcojUFwmfIoXzBqTE2\/1ExurV5tsdFe4v2c4DgVH3NNTouauUrXRwpBR+kE+iw9W8cVhmsnyNoHD8DQ2kiWJDg2LpmcFWCllGg3MMpYuAwwJwYgHOz5qGSMK8K+XRa2P1p+jZ0+\/shK69AZ0a2LedvfKyC6GILH7ptLmLr2gpnA\/vH3QNSqeBbS5tb+uXIqBI\/rZBtoprsdguH7tr636Z+UWUuq3DIYHE1b0PYufXVRcrV3xijJKkZgWMIMrWRDrkD5CjjcAADWxPNIy8l9BxTnMr4U9DYmcZnmLRhnKJq4KLiW0R9rLq9E\/ff8Kaa+fIW8WQOz3j5kO3CNPCP6+dtj1hrbtKPVlerYB5zL8wu3yzxC2i8OvFasr\/d9+4VqzJu91neMwlhHQzaURUPgDV5RIW48hzi+kbkTWkT4aIuBwmGJB7+\/g2mJe8NjASw8Rl+\/mwOqmVyg33UV2kyTmlxUIIlXjPiS67btXjTywk+uiAt0jIPeNDwaWdp0cvTNETPEZLyLX5a8E3WELzmPl0ubykxNHh5NnYNxrA402lQH2y4qq2tjgCtjpnfkLjTU4PdeWKX8W+Jilvmt\/4b5px+mSKWaDBRfZbnlDUQRxOT504BNbfWMPSjru4dRGeBt7avQE0VXKS2ySyhe\/HR7XwJWWhLFCehGpa7ZJury8esW\/DFAUwWr7mLQKrtJsaUz6I6sMqeO22N7iMUgF4LTe2JqUg38Dc\/6uYF2AX5hl2RZu6deB1SGS6adWUUgBDGcISOJDarpE2bNQOzgCK7rRD8HqynJIuT9bOiQVvw1y\/QTB6uOC6w0b58EX5Y\/oHsWVNl0NX6C9cP4Y20W\/60kL31f2ecjORDSsdpmHfAGqwiw1uV2pN4DQVVZpbYdupkiazAZIZbbSkTNKJ6lL9b3Sqyc45lMk6WoKR5Pe9PmiMM\/KNdlb1KYQeQAkRZKzhqxNPR8G3TGW8YbtghsAVzchs8Vmr7Cdrqc1IgbN\/SYSOr8X\/fKLIzoMJiNvPLgUt10npWcFZMIF7ODMETJJ2W+RV7+Ubl+cEXT24dFmXGmjSRneJ9FMKe8C1GQFY8ZC8OQul7uGhLJaPMqDeyVxJkG2YIkfaHvJYM0sE9OJT7uYtf5KCQI1xki8O6B6OQ9eBN296otEvx8Q4HOZWBs3bZDHpLK0Ihk\/fVHk4kNX9Y6C6APMN6LmEnmRLjuC8VmRMIbWrqdecGxLQAsE5JBqg+nXjtIXiVsGp3MrO4ZroRHdEBWbQPxYYDDl7Xb89trAxJeSwO7BXDyawGvXYA98jRTs9CqRZmw4q5x2\/WGhMAtnpV7rP3T04HMI1uy\/3Mm9cEnRiOqgjAumwXerpZeFzlOs3SfrxDAjhy5l9omTER3YNS7\/fZ2NqlH7eKVENbALg+nXsxSSyuWvHpoYrNtwCMMX66R8U6j0WfiCvN\/32LZFrspnDVAA8JBSbjw6lU+5HgDV5B0\/HNDd47nZFS\/DjBy2V7\/npOtDgaL9STIAb95TIvn0Ng0pZlCD4lt4WFIOTNsHgMTBmpMT7FVl+k9sLlrI\/8UKNnS9MADd+YkmbjlLgivhwvkB0lbcZEBr0xGqdru2RCdaPxcH4sOwkpFTGEFP3NLJdD+Idgay3aOyTQAvoiP8KEXg0WZNEh2ySKDXdfVozJcc7oT5hVRPD3OF1Gh\/ToIvVUOge\/DY3WplvPuSv+XHOv1PSwry41ZsENGcg5vHD1xRqnrwzgVbsvEyQcDkAj0WTw4+HVZF0zniWkz5Ard30wdYv41ElHo+pq\/9OgwRARkhIMpggCcQDFAhM+s1E5Ulf5gcm0VZhj4NxukpdzdUm1iXo12NeRXie5fIQtj1cZ\/Rrik0r5SI2vUG6pvQntfq71j3ws9PrrPz2R\/2fEBSr5fZOuz1laL17VX+8U6M+DxnE4uQywRoVPshkFOEYbg\/QPZfP\/2I0cPXEWrhVdFVNJCmI73Q+i+KHOoSLpchAtdeogTHzWv2K6GCsobaUkkMn6YHmfdEHJzrQNPSbFV5Rl+dwQ5jzLjGwgB8PEev1PiORev0EZip3X9LWHXei0m57xqSo7yuq1iHDERkVQo1lu+uiRlpGMo3euKYwhqfNPwoG9GM7jLX\/eAIrJFelGV2luu3bvHJ0mGqbwkoxx2DT9A7Kb4NdL5f8+lWBN0k8F0bpmPpqJIWFcCtyVconDHkYxJtpp0YOTnnsPZsY98BE9VyiUzcH0q6bFTSguMJszJyGN2DXOvgFu\/WKYbzS6I0bvjqxP1iww7ORO1VSQf3pweHCyjMEvFbW0\/k5j1wuul\/hZrjLvBhreFbfrbg6WDjBJsC4JXWfNobIec1hOik95ZU7rKQMu7K0y8wtVKkQ+9j+hmdMnRLj+JHLYe0Fz6LZwDsGgYuSTbKgY0rQtWILAZ1gSULF2SqoeWXWFDCxLUMlSaQp1+8ekXrAir7vSJ\/4X6HkF1f4kFEdFgTb5iUoi8TjXuiYaTBQrk78o+T\/Icahtx8T\/fSl2sIvlnkrrKtj7eFeLTIz\/ayJbVXTNrhY7SYatC85RAibv8QAWzb4GuxybAMayb+Spbop++isdVbUDQHn2lIiul9l9sFtUDVQSg9501LrskzCK5i3whsEc2TtrzEZbPIdB6Xm8BlYo\/bfjMoMyapP4qyPzt978ZwC\/pTaaBvJJkt+DjdYNBjZXzIbKQAPvkiQ\/Sw2U1VM+n1Hmnew2mYsVoRtTveVMc6Rob0f3cRH6j8obsiZQ+YEa+cUo+pL2cYcom2Iw60bKj0IDBnl13vs4qfd2SvocnbszrWxdcSIKw5DSyT57dO29yUCM1Y8Vd9A\/kjGCZyEUhgOePxSHj8BZOUOcivAas3gVrPnEvCkMkMB7ozganOBtpUyFpbuQOBQ3ien4bJycrCqM8WdVf\/T+d3tpW8pZBuLQzPz+WJqkjbE5LuUS35MsgftWBY\/UMGTPTNQwjZU9x4+lDh0gJTUL2VlS+t2mZmhnoIYagoy4lVHQ1QTZcKavOnTrsRr1Cpmq5aUXysD+79ffV988aDXD552PzH6NLAnhtcwMvHEWrDXTclk\/AAt9ykjI0cO6BPu\/j0vsKwcTYRwPvRnynfXsImisBItdFdzGLkFE95MFYQNcxg\/WIny4ad5WNRRylxtxIqwTsIvAaiarVT9YbbLDkm3Aurr7DIpgE8mtdTGcVLJAvfsSAu7a2vX0uMKCkUzmnPrfZUirBVb3QAfMLct6zRXB8Pz\/EHM6AHRBkzLYFX5MbKBJj2E0cz4RwzZH7sHpsnrxfxX6ATvgb09uZsTzo679SeBPOdhJiOTUrnZE+E\/epB9kKWonCXwN2\/tijQ+6CxXaEgYHhddLGtnTUSpvCGYqrgUD6ZuggiUUs02YlgNNOKooR84lNpmf7qISGdBbdUmi8JbBhlc3o7soj2QfxY9mvSD477HMQOGqDhrRe71d1TdrNE6nimC4BNe6ukmFoT2cbzHoKHtkb0DEUSDyJoDHj8hYckyyMAUYjdFBnbZrh4DNq2kZyZqARAbvCehKqF0ugIoEKFBCDA51AIzx5ZYv4bmWka0JdP3LRVqDVfjoXc5VgNRQLXKa8CMC0ytPSN+4SBgRLKIV2VLNM4bKgEGu8nR7mWbJxLWm74Xz0Nx51v1OrywXCgl1qlNh0BhNXMWah5nXL+H54dSCVcQad5DHAghBrgJF3vgj1imGmsCeZ5YmKxVyHIuQMJTuZmTfdh+y+Jn7TWVCpJGg35xYU1nsOuzLe5mmR0FgmWYcyZh7\/gWXmA2XSZ+QAMx0toh3966eFDqIf+3k5eyGyk03+w05J0C9moesUvCyNPQwE2E8ATTXWHyrAA9ElN6+1KGEyUm7Ck13pvPBtU21cPB4ngf0G3tLCDquOBCvmxE3XUMtHQJRccys5OxEGUvSNwl55i08cZ\/h1syRpPVg3k\/45cid8wXjeSklLX\/w\/vLZVC7cOZBZclyo\/7dnnOMGn4db4SHeU8I9GfahwME9KB8ZOFYs+yK\/3j1FFRDz36K4YqLHM\/qS7A7S0NNYGrxG7TvFVjLceOTsEHT3KPUjxQZu4FXNNGuSfQipf4cloNA9FQFsvZMYBqk5hgl6DKQUShOUZyMWUZE0lQDtds+I3KPFI6RP9sKvRljF3y9rMRPaco+bpMnmSeqKtUzQytBd0FYGm\/3QIgFXmGeVBAH6m59RvC0obgbjs\/ai+al51GVsW1lZCBljHW6d61pHlYdvtM0Leia6amL6raAFCDS8n6XB2NjjRCttY2VWQ3sDQ1n+NG7a5TB6l4NZ08EVU15s4\/fNIUMdOGhH49t4skDX6YKsnx2V\/nsSkHITrZ+Y82PilGAqAQ+yROKTaE0yfjwWqRX54YhtXNx5lXq9zM5WXuMvI8TkvumYw83sNT27H7quvhN28Jk7cZcvnaYGQmU7xbeLIiMmdCzoJljIGpZAu2SBDeUqtl3n64OaDQz0GIJjFFsqr75xXwM\/ynZPlpCa5Wgas2nItqPXtTKYaJoPWM38DTncOGNlmq\/NNaCwaJ\/2PlRkQWSu+M\/eb0OKpdoZ7NQ\/ws1Y\/fp\/mKOR0Yzm8jdSWNAM3P2xHF9TiW06ZXq189i1ucye27tgu+YzYyEaOfTCw6J9BHu2yIPtghxG4PkpxzYef\/908L0OVfuTV4\/isMBA8MHrkMNZaKn3sbfvTDAphDVNfDi5qs42pVuD3HC7yBCiIryy0mlAifx7BQD8i6ciFSPihJfQSQeeBuujr5wc\/mgJGChaAf7NCLllABOfKdrdso+hC412uc5hcxsBweP102op8Vz7\/648cSbfOazdpAvGcPMy9pL+irsvJNV6uoEwSEXVjYi3tzV9\/dyTqLplAymYvJc7vySG6g7cWV0EQmgMaT+GJek8NOwM86I\/4aNzK71\/JZCcr5klB75ICI4sJn1xYIz+dyvQahoL2h30ESnKdvrYqt7nQUP9Zo\/qfSmJiFEqmmr3JqKr\/E+Qn7R2cSGnxvY+n4gqRZaW98qkJggDuwYBKb4+OMWZ0UCXOOCqXco5Aq1a8I3hBBc61ngYGU62l7s8R8dhWQNygvN4acm+Uw9O4DuzP2+qDhDGJ9hpACokqMed5lXORucxg4VqU5FQfvHYJxLmpKhMw1A4\/\/1\/dbI8BJf2Foo1i7WA4WlCJoOoAc7YnezV0bYdpzDhTIcmx585dGqniYqsPOmEfiy201RQiuXTbYsybkOBTC24PwnQdNviKybFSiNmDrq1QQ\/HwXWQVCsAHvGs52QdrCwMdf2ImUhQmmo3HvxQz6NTM\/\/YWuw0sY++6leQLvm\/WBuDh4LVCH10lQNaEwNT61L+gqb6WcP4iSp3psQAZhvet9juWZmfls+VsezcilebgaaoqfeHTamDecEwROejxKUy7TDdr4FVTiSSgE0RY8Kdpg\/RQzj4kzVQT2gtfMezG1VUg8KYRnIWHQuyw7l8uW7NF1hdjfyySbObdGNAfPq9yrkX20Bm4Hwx1BY3meVRJrKNYkVkoLXQK0FPlZjP98dHuhzwE8GGMYy1Ktj3nGQiMaKXP93wKSnP9k21MfvW1YaAFMX+wbe9V5NNTSxlgbbTmBF9lh3Iw8c0KvhvcMkhgP+cdUtX2TS\/VD026M3MLgZQtba39hmHQClhbiiWAZwwXXEeMKwI6nqfiqx4l3e64Gkb1qT3JNELpqo0GE5\/WGG3U\/egnruZ8dCyKVferb6Fvd4G0+pYl3K4tTJMzAG+IzHkdJqS8jtcE72dYcD73XvCklqII\/d5kjQHKqhOKGh68hWzDdF3Aen9h7pH11Qs2Qsw1NiN5VXTlu1G4XA+2Tgtpx\/qKGpxY87PMh7oaIHyeP+1Ag5RkPmXLxnkTiAMhFGHm7Vmeq3c5i+bbsIxvmOTVpcO2uSJreyvohg79ZzaPjoHUSeOmOxl3HziQ009EFF0d298fk5Ti5Uy+CPqI24vg0QXRIDzKJVIHKT7SxCgaGhTUzctghbaPr8\/w0IBz0ELky6vrZvxA0yHVaUyiVqLK5G0CZJBBWq1PkxV1Lp4jKu\/AUISgKl7n0q9uNBaJ6njuQmCv4pZ4TfcyUet2Bl1YFixiPV6Ee9Mnvsp1O4Bus67Kn3s0OFaeY+2bCLleRImuX9JJM6qn7SPD5S5DWBo3FA2M4zrCRFaAv+XbXcRqUMplWvIx7Re78ax5f6rTm\/sEVcWCV3WZqaqKNv8QziUSbG6S97U7Z8kN8ia2Z\/\/e2wWB59gdRchQPdsWH92Z\/D\/Lq2tWL\/WTiEox5GJW6Dk9vkLBB10\/xaNnAlj\/pmz5Rpr9II7AySFEcw8F9PReZGsA5oT0ZZkn3McX6jMnL9WGpbmXIaalheZv7+BQdlOfu2+8Xdxro71anjlPxiYyCiwxz5mD9s+nhYA5iR0FuYP5pwxQitPJaU7WzOMoIdNJmf0iEcomgrXeeLH2WFQ8vUbOFcv9cpp8hRaRByigaxY6Gpr69eidluxgLHPnHGUO8eRMBXyC7ou57rEFALBkIsY2si\/LG7wne0Ka998dmPTLB8tuYLfu2GOZjK27KoqVZ\/czylm9vKa8eFpK0meg7iRj","iv":"19abdce5a11c95cced5557d4731ab42c","s":"093669c3ebbe9de0"}
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