Inside the luxury sector's $1.5 trillion identity crisis

The luxury sector is worth $1.5 trillion annually — more than ten times its value in the year 2000. But as luxury has grown, it has had to reinvent itself. And no story captures that tension better than Soho House, whose IPO, one panellist argues, will take a decade to recover from. This is a panel of three luxury insiders — spanning ultra-high-end travel, members clubs and haute couture — unpicking what the modern luxury consumer actually wants, and why the answer is more complicated than ever. In this conversation: — Why true luxury is no longer about things — it's about time — The quiet luxury vs expressive luxury debate — and which is winning — Why luxury brands are increasingly behaving like members clubs — What went wrong at Soho House — and whether they can fix it — Why the most demanding luxury clients are now the youngest ones — Privacy as the new status symbol This panel took place at Spear's 500 Live, the premier live event for private client professionals and leading figures from the private wealth and family office ecosystem. The 2026 edition took place on 6 May at The Savoy in London. Spear's 500 Live was presented in association with our partners: the Charities Aid Foundation, CMB Monaco, Guernsey Finance, HCA Healthcare UK, Payne Hicks Beach, Riverstone, Scott Dunn Private and Stewardship. Links: Full article: https://spearswms.com/luxury/forget-p... Explore more articles at Spear’s Magazine: https://spearswms.com/ Subscribe to Spear’s Magazine: https://spearswms.com/subscribe/ #luxury #quietluxury #SohoHouse #UHNW #luxurytravel #privatemembersclub #wealthmanagement