The luxury industry’s growth is slowing compared to the massive growth it had in the post-COVID “revenge spending” years. But that doesn’t mean young consumers in Western Europe have turned their back on buying from top luxury brands. Despite their budget mindset, this generation is used to owning items from luxury brands, and YPulse data shows that 61% of European Gen Z and Millennials have already purchased luxury products. Plus, other research estimates Gen Z is on track to account for about a third of the luxury products market by 2030. So, even if luxury brands are currently experiencing a “flop era,” Gen Z still express the desire to own luxury products. In YPulse’s WE Luxury survey, we ask 13-39-year-olds which luxury brands they’d like to own the most. But instead of asking young Europeans to choose from a given list of labels and maisons, the question is an open-end, allowing them to name any brand, to best capture what they perceive as luxury.* Traditional luxury brands like Prada,...