Happy New Year. I’m genuinely excited to be back in your inbox.

Depending on where you’re reading this, you’ve either already powered through a full week of work, emails, and calls, or you’re just now bracing for that first "real" Monday of the year.

As we ease into 2026, the vibe I'm catching across the board seems to be a return to substance. The "growth at all costs" era is officially in the rearview, and we're seeing a fascinating pivot toward longevity, curation, and—probably, and finally—real profitability. After years of chasing "hype" and scaling things that were never meant to be mass-market, there’s a collective realization that you can’t automate soul, and you certainly can't fake a bottom line.

It’s good to be back. Let’s get into it.

Caught my eye

I went through a rabbit hole watching old Alexander McQueen shows for Givenchy, and frankly, it makes our current obsession with 'quiet luxury' look like a collective lack of imagination. At what point did we trade this theater for very expensive beige cashmere?

Trends — what’s bubbling underneath the headlines

• The high-margin takeover of “big food”

  The local grocer’s aisle has become a high-margin battleground for Michelin-starred brands like Momofuku and Carbone, which are successfully "nabbing" shelf space once reserved for legacy CPG giants. Driven by the sheer impossibility of scaling physical exclusivity, operators are realizing that while they can’t open a restaurant in every zip code, they can certainly place a $15 jar of chili crunch in one. With Momofuku predicting that consumer goods will account for 50% of its total revenue this year, the "packaged product" is a survival strategy against soaring labor costs and a play for the 80% of followers who live nowhere near a physical location.

• Real estate is the new runway

  In 2026, the branded residence sector is hitting an inflection point, with fashion houses now commanding 30% of the global pipeline. For Dolce & Gabbana, Armani, and Fendi, these are the hedge against a slowing goods market; while a handbag is a one-time purchase, a $10M residence is a 30-year brand immersion that commands price premiums up to 37%. In hotspots like Dubai and Miami are high-margin "lifestyle ecosystems" where brands control everything from the scent to the social wellness programming. The goal is to capture the 24/7 "share of life" for the UHNW consumer.

• The rich are tired of overpaying

  New data from Altiant and MAD shows 20% of HNWIs plan to decrease designer fashion spending this year. The fatigue is worse in "hard" luxury, with 44% pulling back on watches. While the U.S. remains a rare bright spot, the general mood is one of “betrayal”. As we’re seeing record-high prices for record-low creativity, the global elite began prioritizing "time sovereignty" and wellness over another logo-heavy bag. Bottom line: if a product lacks cultural legitimacy or a unique experience, the wealthy are keeping their wallets closed.

Business moves, big numbers & “wait, what?”

• From IPO Darling to Portfolio Filler. Reports emerged this week that German FMCG company Henkel has made a takeover bid for Olaplex, offering a potential exit for Advent International. Advent originally snapped up the brand for $1 billion in 2019, and while they cashed out big during the $16 billion IPO, they’re still holding a 75% stake in a company that has since lost 94% of its value. Now, with Olaplex's market cap hovering near its original purchase price, the brand is better off as a satellite in Henkel’s massive portfolio than as a struggling standalone entity.

• Inside Philo’s Revenue Triple-Play. Fresh filings reveal the LVMH-backed Phoebe Philo expects to triple its turnover to £32M in 2025—a massive leap from the £11.2M it cleared last year.

  The momentum is driven by a pivot from digital-only drops to a hybrid wholesale model, with a highly anticipated opening of Mayfair flagship. While losses widened to £23.5M due to heavy infrastructure spend, the brand’s ability to scale at such high price points suggests the "Philophile" appetite hasn't hit its limit.

• The Supermodel Portfolio. Claudia Schiffer just backed Healf, the UK’s fast-scaling wellness platform, fronting their new "Wellbeing Made Personal" campaign alongside an unlikely duo: DJ Calvin Harris (“I feel so close to you right now” hit from 2011) and Olympic fencer Miles Chamley-Watson.

  Healf, which has reached £100M in annual revenue, is riding the "Longevity" wave by ditching generic supplements for curated diagnostics and personalized rituals. Schiffer is known for investments in other longevity companies. For Healf, snagging Schiffer isn't just about the face; it’s about validating "bio-hacking" for the luxury consumer who values tight curation in a crowded market.

Wish I were there - pop-ups,  collabs, etc.

Pencil in, book the ticket, or just follow on social media — choose your option and let’s discuss afterwards!

• 15.01.-19.01.26 | Paris - Maison&Objet design exhibition

• Ongoing | Paris - Dior Cafe

• Ongoing | Courchevel - Lacoste Padel courts

Next steps

Please feel free to get in touch. I’d love to hear from you!

• Email: [email protected]

• Instagram

• LinkedIn

• TikTok

Forward this e-mail to a colleague or a friend

Read other content here