Saint Laurent CEO Cédric Charbit admitted luxury brands must improve customer retention, particularly for aspirational shoppers. Speaking at the FT's Business of Luxury summit, Charbit acknowledged the brand hasn't been attentive enough to non-elite clients. His comments come amid challenging market conditions for Kering, which faces slowing luxury demand globally.

The French fashion house plans to expand into menswear and target China to revive growth. Charbit took over in January 2025, succeeding Francesca Bellettini. Kering, parent company of Saint Laurent, recruited former Renault boss Luca de Meo as CEO in a strategic move to rejuvenate its struggling portfolio following declining demand for Gucci.

"The industry's growth has been extraordinary but not sustainable," Charbit stated. He emphasized expanding product categories while preserving brand exclusivity. Kering faces pressure to demonstrate its ability to reignite growth across multiple luxury brands as consumer confidence weakens amid inflation and changing market dynamics.