Brand owners today face challenges like no other. Does conventional wisdom hold strong or is it time to explore new perspectives? The $billion question for brands today is whether to buy their way out of the current economic downturn or hunker down and hibernate until better times return. This tough trading environment for luxury brands can’t just be dismissed as a period of cyclical downturn. We’re going through a prolonged period of significant structural change and challenge, forced to learn new coping strategies on-the-go to deal with previously unimaginable hurdles (who could have foreseen Trump tariffs or prolonged China whiplash?) So-called Greedflation means that raising prices isn’t the answer. Today’s luxury prices are on average already 54 percent higher than before Covid, meaning the aspirational shopper has been all but ruled out of the market. (*1) Meanwhile, the category operates in fear that creativity and innovation are stagnating, with everyone searching for the next big thing, moving designers around as a smokescreen. It’s said that volatile times make for unique opportunities, that high risk can actually result in high reward. (*2) But what does that mean in real terms? Is the challenge one of risk-management? Or is it rather one of opportunity-creation? Is it about sitting tight? Or is it about taking brave action when others lie low? Just like the dating game, there is a price of inaction. Same with brands, nothing ventured, nothing gained. In the words of great cultural influencer Beyoncé, “I break chains all by myself”. Ie While we’re not responsible for what life throws at us, it’s our job to find a way out to the best of our abilities. (*3)