Greene argues that luxury has been undermined by what she calls “egregious inflation”, driven by a focus on emerging markets and ultra-high-net-worth consumers. A strategy that has priced out a middle group of affluent consumers, including so-called HENRYs (High Earners, Not Rich Yet). “Luxury brands are just overpriced,” she states.
That disconnect has opened space elsewhere. Greene points to a clear elevation across the high street and contemporary segment, citing brands such as COS, Arket and Zara, alongside labels including Aligne, Rixo, ME+EM and Rise & Fall, which are increasingly positioned as premium yet accessible alternatives. The space between high street and luxury, she argues, now represents the strongest opportunity. “That mid-to-high segment is the sweet spot at the moment.”
