As the luxury industry continues to calibrate post-pandemic, it faces a pullback in consumer spending and a newly relevant generation of shoppers. That’s top of mind for LVMH North America chairman and CEO Anish Melwani.

“The US is still underpenetrated when it comes to luxury, but we’ve made enormous strides… especially among younger consumers who value quality and want fewer, better things. Our ability to story-tell to them in ways they want to be told to is our biggest opportunity. Our biggest challenge is: do we really understand what the answer to that question is?” he explained to me during the Vogue Business Executive Summit.