Economist Podcasts Money Talks: Europe’s luxury crown
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Jan 18, 2024 
Thomai Serdari, a marketing professor at NYU Stern, provides a historical perspective on Europe's luxury industry, emphasizing its dominance and heritage. Ermenegildo Zegna, CEO of the Zegna Group, shares insights on strategic acquisitions and the challenges faced by luxury brands today. They discuss the resilience of European firms amidst global competition and the delicate balance between exclusivity and accessibility in luxury fashion. The conversation highlights how luxury goods can outperform traditional investments, revealing their evolving status in today's market.
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European Luxury Dominance
- European luxury brands have thrived due to historical support, craftsmanship, and vertical integration.
- Their control over production, from raw materials to finished goods, ensures quality and exclusivity.
Staying True to Core Values
- Luxury brands should focus on their core values and DNA.
- Zegna emphasizes the importance of staying true to its textile heritage and expertise in ready-to-wear and leather.
Zegna's Acquisitions
- Zegna, a 114-year-old Italian luxury brand, acquired Tom Brown and Tom Ford to expand its reach.
- This broadened their customer base and allowed them to better utilize their integrated supply chain.