Why are the CEOs of most luxury brands stepping down?

If we consider longevity as a measure of prestige, exclusivity, and financial success, then the luxury goods industry is facing its toughest period. Well, just grab a list of high-profile CEOs of some of the world's most iconic luxury brands and Google them, you will see news articles of them resigning or stepping down. These leadership changes seem unrelated at face value, but they represent and point to the overall change within the luxury market - from the changes that affect consumer expectations all the way to sustainability concerns and shifts in digital experiences.

Let's explore why they leave and analyse the luxury industry's new scenario, with focus placed on its implications for markets such as India. Why CEOs leave? The mass exodus of top executives of luxury brands can be traced back to these several factors, including the new nature of consumer behavior, the rise of the role of sustainability, the digitalization of the luxury market, and internal restructuring within the conglomerate. In most cases, these CEOs' departures mean that the industry has reached a turning point and the leadership needs to respond more and faster than the evolutions in the landscape of the market.

Changes in consumer expectations The luxury customer is not interested in the price tag or the exclusivity of a product today. Instead, he looks for brand values and their commitment toward sustainable environmental practices, ethical business practices, and social responsibilities. This is q.