The pandemic has recalibrated consumer priorities globally, shifting the focus from material possessions to experiences that promote well-being and personal enrichment. “What’s the point of having luxury products if you’re not healthy or if you don’t feel good?” Amed asked. Luxury brands are responding with strategic expansions into realms such as hospitality, dining and wellness.  Amed pointed to Dior’s La Galerie Dior in Paris—an immersive space that opened in 2022 at the maison’s storied flagship on 30 Avenue Montaigne, complete with boutique hotel rooms, fine dining, and art exhibits—as a prime example. They are not just profitable—they cultivate deeper emotional connections, fostering long-term loyalty.

A venture of this kind will only prove successful, however, “when it’s real”, he said. “Customers can sniff out what’s marketing versus what’s meaningful,” he explained, singling out Prada’s long-standing commitment to art as an exemplar. Fondazione Prada, an art and cultural institution in Milan, works with famed contemporary artists and organises exhibitions. When done right, such collaborations elevate both the brand and the cultural sphere they engage with.

Amed is particularly excited about AI’s transformative potential for the luxury industry. “We’re at the very beginning of this shift, but I haven’t felt this curious since the early days of the internet,” he said, comparing AI’s impact to the revolutionary rise of email and e-commerce.

One immediate application lies in reducing waste—a long-standing challenge for the fashion sector. “Something like 30 per cent of the products produced by the industry never get bought— they end up in landfills,” Amed said. Predictive AI models can analyse consumer behaviour to forecast demand, helping brands produce more sustainably. He also referenced start-ups like Daydream AI, which use conversational tools to create personalised shopping experiences. Unlike traditional search engines, these platforms allow users to explore new products effortlessly, bridging the gap between technology and creativity.

“Smart designers use AI as a tool for inspiration and to input ideas into the creative process,” he said; while emphasising its potential for further development, he also noted that AI cannot replicate the nuanced artistry of human creators.

Amed’s insights painted a vivid portrait of the industry’s future. At the core of his message was a reminder that luxury, while ever-evolving, must remain rooted in authenticity. “The best brands are those that adapt to change without losing their soul,” he said. In an era defined by innovation and disruption, this philosophy resonates more than ever.

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