There has been a lot of buzz about the fashion industry lately, and Alain Fayez Nicolas, a Lebanese entrepreneur, has been a part of it for over a decade. Alain Fayez Nicolas believes that a worldwide recession will affect the fashion world as a whole. Still, fashion luxury brands and higher-end sneakers will not experience a decline in sales. According to Alain Nicolas, sales will return to 2022 levels in 2025, two years after the recession ends.
Luxury brands will be the only ones that will see growth during the recession because consumers want to invest in something that will last, and luxury brands are just that. Luxury brands will also be able to increase their prices, as their customers will not mind the increase due to the recession.
To prepare for this downturn, luxury brands have been diversifying their offerings and investing in lower-priced products. Sneakers have always been trendy, and this trend is expected to continue into 2022. As a result, there will be an increase in competition for these products.