2024 was a rough year for the luxury industry. Global luxury sales fell 2%, which marks the industry’s first decline since the financial crisis in 2008. The downturn was mainly driven by a 20% drop in sales in China, with Europe and the US struggling as well. The headwinds are highlighted by LVMH owner Bernard Arnault: The Frenchman was the world’s richest person in the World’s Billionaires List 2024, but has since lost more than $50 billion in net worth due to LVMH’s share price declining 10%.
In short: the luxury industry has to think of something, fast. Many are doing exactly that: We’re seeing smart entrepreneurs using new technologies and new approaches to create products and conquer untapped audiences; renowned brands are proving that while the industry as a whole is struggling, they’re stronger than ever; and savvy investors are using the crisis to buy undervalued assets.
At the same time, we’re seeing ongoing trends such as sustainability, personalization and recommerce pose new challenges. At the Luxury Summit 2025, co-hosted by Forbes and FACES, we will convene entrepreneurs and executives, innovators and investors to discuss what they’re doing to make sure they stay strong in tough times.
Founder & CEO, Plein Group
Philipp Plein started his entrepreneurial journey by selling dog beds—today, he’s running a global fashion empire. Born in Munich and raised in Nuremberg, he founded his namesake brand in 1998. What began with luxury furniture soon evolved into one of the world’s most talked-about fashion labels. Known for bold designs and a fearless entrepreneurial spirit, Plein has grown his business across fashion, footwear, watches and lifestyle. Now, he’s setting his sights on the next vertical: hotels.
Founder, The Swiss Center For Luxury Research
Felicitas Morhart is Full Professor of Marketing at the University of Lausanne and Founder of the Swiss Center for Luxury Research. Her teaching and research centers on identity-based branding, brand authenticity, luxury consumption, and alternative status signals. Her research has been published in top national and international journals. She also advises and trains managers mainly in the luxury and premium industries (mainly financial, automotive and hospitality) on the topic of transformational change. In 2022, she co-founded OriginALLuxury, a multistakeholder initiative for traceability technologies in the luxury industries.
Founder, Vladi Private Islands
Farhad Vladi is a pioneer in the niche market of private islands. Born in Germany with Iranian roots, he founded Vladi Private Islands in 1971, establishing himself as the world’s leading broker for exclusive island real estate. Over the decades, he has sold more than 2,000 islands across the globe, working with high-profile clients and shaping the industry. Beyond business, Vladi is a passionate collector of antique maps and a published author on the subject. His expertise and eye for rare properties have made him a key figure in the world of luxury real estate.
Vice President, Integrated Brand Building
Yann Marois is passionate about building brands that matter. A strategist at heart, he has spent the past two decades shaping global brands and crafting memorable consumer experiences. Since 2019, he has been leading brand strategy, creative and design at Philip Morris International (PMI), where he helped redefine the tobacco and nicotine category with smoke-free products like IQOS, PMI’s global flagship brand. Together with his team, he is scaling new brands such as VEEV, LIL, and ZYN, driving PMI’s ambition to replace every cigarette for adult smokers who don’t quit. Before joining PMI, Marois held senior leadership roles at Bacardi as CMO of Grey Goose Vodka and at the Estée Lauder Companies.
Director of Communications, Lamborghini
German-born, Bravo earned a degree in Communication from the University of Bonn and began his professional career in broadcasting and digital communication. He joined the Volkswagen Group in 2011, starting with SEAT in Barcelona. In 2014, he moved to Porsche, in the Stuttgart-Zuffenhausen office, first as spokesperson for product communication and a year later as PR manager of Porsche Latin America in Miami, up to his appointment in 2018 as Head of Communications at Bugatti. In 2021, he joined Automobili Lamborghini in his current role of Communications Director.
CEO & Partner, smzh ag
Gzim Hasani worked at Julius Bär and Credit Suisse for ten years, focusing on premium clients and Ultra-high-net-worth individuals (UHNWI). Since 2019, he's CEO and Partner at smzh ag, an independent financial advisor with 150 employees in Switzerland.
CEO, Gerald Charles
Federico Ziviani is the CEO of Gerald Charles, the Swiss high-end watch brand founded by legendary designer Gérald Genta in 2000. Since taking the helm in 2019, Ziviani has redefined the brand’s direction with a focus on digital growth and community building. Under his leadership, Gerald Charles expanded production from 100 to 1,500 timepieces per year, established a global footprint, and opened a dedicated atelier in Geneva—positioning the brand as a rising force in the world of independent Swiss watchmaking.