What Is The Future Of Luxury Fashion In 2026?

Selfriges 40 Duke — (Image credit: Lucia Bell-Epstein)

Your life might well be saturated with acronyms as it stands, but if there's one that most of us would gladly adopt into our vernacular it's VVSP—Very Very Selfridges Person. As of earlier this month, these four letters will grant you full access to 40 Duke, a 25,000 square-foot haven that blends personal shopping, cultural programming and a social space in Selfridges London.

This is quite a moment for retail. 40 Duke marks the brand's most significant capital investment in a decade, which opens a window into just how important the customer experience—and customer loyalty—is to an industry where retention is everything.

As André Maeder, Selfridges Group CEO, says: “With 40 Duke, it is our ambition to create a first-of-its-kind destination for our customers. Bringing a new and original perspective to retail, 40 Duke aligns with our legacy of cultivating shopping as recreation, and our vision to offer the aspirational lifestyle of tomorrow," he says, adding: "There’s nothing like this in the world.” That's quite a statement but, then again, it's quite some real estate.

Selfridges 40 Duke — The Lobby of 40 Duke

As well as Personal Shopping, a department which has been repositioned into a bevy of suites with a multilingual team of private client managers in 40 Duke, the space will also encompass a trio of dining areas that you can't help but imagine are perfect for mulling over purchases, including The Club Lounge (a bar and lounge), The Club Room (a 14-cover private dining space) and The Terrace (a covered outdoor 58-cover cafe). As the press release continues: "Balanced between spaces to shop and spaces to socialise, 40 Duke reflects a wider cultural shift beyond transactional retail, towards experience-led engagement." Translation? Not only is the customer always right, but now more than ever it's all about them.

This has long been the attitude in the world of luxury, where the customers are seeking a journey that's not impersonal but tailored—even when it comes to online. "“For us it’s always about making the shopping experience feel considered and effortless for all our customers. Our ethos is rooted in trust," says Tiffany Hsu, chief buying officer at Mytheresa.com, who adds that a customer just opening their browser does so with the knowledge that, "every piece on Mytheresa.com has been selected with intention and reflects a certain standard of taste." Data might be starting point, but it goes far beyond the stats, with a human approach essential to curating the kind of experience that keeps people coming back to replenish their baskets. "“Personalisation, for us, starts with understanding our customers. We do of course use data, but it’s really about how we interpret it. We look at behaviour, preferences, and lifestyle, and translate that into a curated experience," says Hsu.

Missoni x Mytheresa — Mytheresa x Missoni experience, Ibiza 2025

If curated is one buzzword, exclusive is another, with several luxury e-commerce platforms stepping up the number of events—or intimate gatherings—for their most important customers. According to strategist and creative consultant Mimma Viglezio, this is the way for the luxury sector to distinguish itself. "The sector is in crisis. Competition is fierce, and the appeal of mid-level brands is growing. Luxury brands are looking for ways to distance themselves and they have only one way to stand out, using their financial power to offer what others can’t afford: services, experiences and perceived value."

As McKinsey & Company reported last year in a special report, "The State of Luxury: How to navigate a slowdown", the luxury industry has been hit with a "significant slowdown". It offers five steps, or strategic imperatives, for executives in the coming years, one of which is centred around rethinking a client engagement strategy. "Continue to develop unique “money can’t buy” experiences, both inside and outside stores, for the most loyal and for those with the highest potential that may have been underserved in recent years. These experiences must align with the brand’s ethos and not simply chase the latest trends."

Natalie Hammond is a writer, editor and author who’s contributed to publications including Marie Claire, Elle, Vogue, Harper’s Bazaar, Who What Wear, The London Standard, CNN and The Times. She was most recently senior fashion news editor at Grazia, and previously worked on the fashion desk of The Times. Her first book was published in August 2024, Bowie: His Style Principles, which is part of an ongoing series about world-famous wardrobes. She writes the Substack How Much?, a newsletter examining the culture of shopping.